5
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
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No description of principal activity
2021-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
20,000
17,333
2,667
20,000
2,667
xbrli:pure
xbrli:shares
iso4217:GBP
08016905
2021-04-01
2022-03-31
08016905
2022-03-31
08016905
2021-03-31
08016905
2020-04-01
2021-03-31
08016905
2021-03-31
08016905
core:NetGoodwill
2021-04-01
2022-03-31
08016905
core:PlantMachinery
2021-04-01
2022-03-31
08016905
core:FurnitureFittings
2021-04-01
2022-03-31
08016905
core:MotorVehicles
2021-04-01
2022-03-31
08016905
bus:Director2
2021-04-01
2022-03-31
08016905
core:NetGoodwill
2021-03-31
08016905
core:NetGoodwill
2022-03-31
08016905
core:PlantMachinery
2021-03-31
08016905
core:FurnitureFittings
2021-03-31
08016905
core:MotorVehicles
2021-03-31
08016905
core:PlantMachinery
2022-03-31
08016905
core:FurnitureFittings
2022-03-31
08016905
core:MotorVehicles
2022-03-31
08016905
core:WithinOneYear
2022-03-31
08016905
core:WithinOneYear
2021-03-31
08016905
core:ShareCapital
2022-03-31
08016905
core:ShareCapital
2021-03-31
08016905
core:RetainedEarningsAccumulatedLosses
2022-03-31
08016905
core:RetainedEarningsAccumulatedLosses
2021-03-31
08016905
core:NetGoodwill
2021-03-31
08016905
core:PlantMachinery
2021-03-31
08016905
core:FurnitureFittings
2021-03-31
08016905
core:MotorVehicles
2021-03-31
08016905
bus:SmallEntities
2021-04-01
2022-03-31
08016905
bus:AuditExemptWithAccountantsReport
2021-04-01
2022-03-31
08016905
bus:FullAccounts
2021-04-01
2022-03-31
08016905
bus:SmallCompaniesRegimeForAccounts
2021-04-01
2022-03-31
08016905
bus:PrivateLimitedCompanyLtd
2021-04-01
2022-03-31
COMPANY REGISTRATION NUMBER:
08016905
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 March 2022
Fixed assets
Intangible assets |
5 |
– |
2,667 |
Tangible assets |
6 |
19,234 |
25,647 |
|
-------- |
-------- |
|
19,234 |
28,314 |
|
|
|
|
Current assets
Stocks |
18,000 |
18,000 |
Debtors |
7 |
1,559 |
5,695 |
Cash at bank and in hand |
29,570 |
43,218 |
|
-------- |
-------- |
|
49,129 |
66,913 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
46,291 |
48,245 |
|
-------- |
-------- |
Net current assets |
2,838 |
18,668 |
|
-------- |
-------- |
Total assets less current liabilities |
22,072 |
46,982 |
|
-------- |
-------- |
Net assets |
22,072 |
46,982 |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
22,070 |
46,980 |
|
-------- |
-------- |
Shareholders funds |
22,072 |
46,982 |
|
-------- |
-------- |
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 31 March 2022 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 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
3 September 2022
, and are signed on behalf of the board by:
Company registration number:
08016905
Notes to the Financial Statements |
|
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tyretrend, Railway Road, Rhosddu, LL11 2DH, Wrexham.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Plant and machinery |
- |
25% reducing balance |
|
Fixtures and fittings |
- |
25% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants - covid 19
Government grants are recognised using the accrual model. Under this model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
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
5
(2021:
5
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 April 2021 and 31 March 2022 |
20,000 |
|
-------- |
Amortisation |
|
At 1 April 2021 |
17,333 |
Charge for the year |
2,667 |
|
-------- |
At 31 March 2022 |
20,000 |
|
-------- |
Carrying amount |
|
At 31 March 2022 |
– |
|
-------- |
At 31 March 2021 |
2,667 |
|
-------- |
|
|
6.
Tangible assets
|
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 April 2021 and 31 March 2022 |
5,098 |
3,900 |
42,500 |
51,498 |
|
------- |
------- |
-------- |
-------- |
Depreciation |
|
|
|
|
At 1 April 2021 |
3,847 |
1,706 |
20,298 |
25,851 |
Charge for the year |
313 |
549 |
5,551 |
6,413 |
|
------- |
------- |
-------- |
-------- |
At 31 March 2022 |
4,160 |
2,255 |
25,849 |
32,264 |
|
------- |
------- |
-------- |
-------- |
Carrying amount |
|
|
|
|
At 31 March 2022 |
938 |
1,645 |
16,651 |
19,234 |
|
------- |
------- |
-------- |
-------- |
At 31 March 2021 |
1,251 |
2,194 |
22,202 |
25,647 |
|
------- |
------- |
-------- |
-------- |
|
|
|
|
|
7.
Debtors
|
2022 |
2021 |
|
£ |
£ |
Trade debtors |
494 |
648 |
Other debtors |
1,065 |
5,047 |
|
------- |
------- |
|
1,559 |
5,695 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Trade creditors |
(
17) |
4,078 |
Social security and other taxes |
34,195 |
17,366 |
Other creditors |
12,113 |
26,801 |
|
-------- |
-------- |
|
46,291 |
48,245 |
|
-------- |
-------- |
|
|
|
9.
Directors' advances, credits and guarantees
In the year the director operated loan account, the opening balance was £21,983 in credit (2021 £4,824), with net movement of £15,286 and a closing credit balance of £6,697 (2021 £21,983).No interest has been charged to the company in respect of this loan which is repayable on demand.