11
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
2021-01-01
Sage Accounts Production Advanced 2021 - FRS102_2021
51,207
3,291
622
48,538
48,538
xbrli:pure
xbrli:shares
iso4217:GBP
04517143
2021-01-01
2021-12-31
04517143
2021-12-31
04517143
2020-12-31
04517143
2020-01-01
2020-12-31
04517143
2020-12-31
04517143
bus:Director1
2021-01-01
2021-12-31
04517143
core:WithinOneYear
2021-12-31
04517143
core:WithinOneYear
2020-12-31
04517143
core:LandBuildings
core:LongLeaseholdAssets
2020-12-31
04517143
core:LandBuildings
core:LongLeaseholdAssets
2021-12-31
04517143
core:LandBuildings
core:LongLeaseholdAssets
2021-01-01
2021-12-31
04517143
core:AfterOneYear
2020-12-31
04517143
core:ShareCapital
2021-12-31
04517143
core:ShareCapital
2020-12-31
04517143
core:OtherReservesSubtotal
2021-12-31
04517143
core:RetainedEarningsAccumulatedLosses
2021-12-31
04517143
core:RetainedEarningsAccumulatedLosses
2020-12-31
04517143
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2021-12-31
04517143
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2021-12-31
04517143
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2021-12-31
04517143
core:CostValuation
core:Non-currentFinancialInstruments
2021-12-31
04517143
core:Non-currentFinancialInstruments
2021-12-31
04517143
core:LandBuildings
core:LongLeaseholdAssets
2020-12-31
04517143
bus:SmallEntities
2021-01-01
2021-12-31
04517143
bus:AuditExemptWithAccountantsReport
2021-01-01
2021-12-31
04517143
bus:FullAccounts
2021-01-01
2021-12-31
04517143
bus:SmallCompaniesRegimeForAccounts
2021-01-01
2021-12-31
04517143
bus:PrivateLimitedCompanyLtd
2021-01-01
2021-12-31
04517143
core:ComputerEquipment
2020-12-31
04517143
core:ComputerEquipment
2021-01-01
2021-12-31
04517143
core:ComputerEquipment
2021-12-31
COMPANY REGISTRATION NUMBER:
04517143
Filleted unaudited financial statements |
|
Statement of financial position |
|
31 December 2021
Fixed assets
Tangible assets |
5 |
|
49,283 |
|
50,701 |
Investments |
6 |
|
48,538 |
|
– |
|
|
------- |
|
------- |
|
|
97,821 |
|
50,701 |
|
|
|
|
|
|
Current assets
Debtors |
7 |
393,181 |
|
158,678 |
|
Cash at bank and in hand |
357,611 |
|
36,343 |
|
|
--------- |
|
--------- |
|
|
750,792 |
|
195,021 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
293,215) |
|
(
99,426) |
|
|
--------- |
|
--------- |
|
Net current assets |
|
457,577 |
|
95,595 |
|
|
--------- |
|
--------- |
Total assets less current liabilities |
|
555,398 |
|
146,296 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
– |
|
(
45,000) |
|
|
|
|
|
|
Provision for deferred taxation |
|
(
12,000) |
|
(
8,000) |
|
|
--------- |
|
--------- |
Net assets |
|
543,398 |
|
93,296 |
|
|
--------- |
|
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
3 |
|
3 |
Fair value reserve |
|
622 |
|
– |
Profit and loss account |
|
542,773 |
|
93,293 |
|
|
--------- |
|
------- |
Shareholders funds |
|
543,398 |
|
93,296 |
|
|
--------- |
|
------- |
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31st December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of financial position (continued) |
|
31 December 2021
These financial statements were approved by the
board of directors
and authorised for issue on
12 August 2022
, and are signed on behalf of the board by:
Company registration number:
04517143
Notes to the financial statements |
|
year ended 31st December 2021
1.
General information
The principal activity of the company was design consultancy.
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Furrows, Cattal Street, Cattal, North Yorkshire, YO26 8DW.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors, having made due and careful enquiry, are of the opinion that the company has sufficient working capital to execute its operations over the next 12 months. The directors have made an informed judgement at the time of approving the financial statements that the company has adequate resources to continue in operational existence for the foreseeable future. Having regard to the above, the directors believe it appropriate to adopt the going concern basis in preparing the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the date of the statement of financial position and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. Details of these judgements are set out in the accounting policies.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered within the accounting period, stated net of discounts and of Value Added Tax. Revenue is recognised when it can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Leasehold property |
- |
over the remaining period of the lease
|
|
Equipment |
- |
3 years straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristic. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2020:
9
).
5.
Tangible assets
|
Long leasehold property |
Equipment |
Total |
|
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
At 1st January 2021 |
79,330 |
72,232 |
151,562 |
Additions |
– |
6,845 |
6,845 |
|
------- |
------- |
--------- |
At 31st December 2021 |
79,330 |
79,077 |
158,407 |
|
------- |
------- |
--------- |
Depreciation |
|
|
|
At 1st January 2021 |
35,511 |
65,350 |
100,861 |
Charge for the year |
5,431 |
2,832 |
8,263 |
|
------- |
------- |
--------- |
At 31st December 2021 |
40,942 |
68,182 |
109,124 |
|
------- |
------- |
--------- |
Carrying amount |
|
|
|
At 31st December 2021 |
38,388 |
10,895 |
49,283 |
|
------- |
------- |
--------- |
At 31st December 2020 |
43,819 |
6,882 |
50,701 |
|
------- |
------- |
--------- |
|
|
|
|
6.
Investments
Cost |
|
At 1st January 2021 |
– |
Additions |
51,207 |
Disposals |
(
3,291) |
Revaluations |
622 |
|
------- |
At 31st December 2021 |
48,538 |
|
------- |
Impairment |
|
At 1st January 2021 and 31st December 2021 |
– |
|
------- |
|
|
Carrying amount |
|
At 31st December 2021 |
48,538 |
|
------- |
At 31st December 2020 |
– |
|
------- |
|
|
7.
Debtors
Trade debtors |
315,599 |
78,844 |
Other debtors |
77,582 |
79,834 |
|
--------- |
--------- |
|
393,181 |
158,678 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
Bank loans and overdrafts |
140 |
5,139 |
Trade creditors |
33,154 |
7,188 |
Accruals and deferred income |
31,446 |
7,144 |
Corporation tax |
107,500 |
15,500 |
Social security and other taxes |
108,128 |
55,326 |
Other creditors |
12,847 |
9,129 |
|
--------- |
------- |
|
293,215 |
99,426 |
|
--------- |
------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
Bank loans and overdrafts |
– |
45,000 |
|
---- |
------- |
|
|
|
10.
Directors' advances, credits and guarantees
The balance owed by the directors at the year end amounted to £42,842 (2020 £13,154).