5
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-02-01
Sage Accounts Production Advanced 2021 - FRS102_2021
21,025
21,025
11,696
10,812
884
884
xbrli:pure
xbrli:shares
iso4217:GBP
03006683
2022-02-01
2023-01-31
03006683
2023-01-31
03006683
2021-02-01
2022-01-31
03006683
2022-01-31
03006683
core:NetGoodwill
2022-02-01
2023-01-31
03006683
core:FurnitureFittings
2022-02-01
2023-01-31
03006683
bus:Director1
2022-02-01
2023-01-31
03006683
core:NetGoodwill
2023-01-31
03006683
core:FurnitureFittings
2023-01-31
03006683
core:WithinOneYear
2023-01-31
03006683
core:WithinOneYear
2022-01-31
03006683
core:ShareCapital
2023-01-31
03006683
core:ShareCapital
2022-01-31
03006683
core:RetainedEarningsAccumulatedLosses
2023-01-31
03006683
core:RetainedEarningsAccumulatedLosses
2022-01-31
03006683
core:FurnitureFittings
2022-01-31
03006683
bus:SmallEntities
2022-02-01
2023-01-31
03006683
bus:AuditExempt-NoAccountantsReport
2022-02-01
2023-01-31
03006683
bus:FullAccounts
2022-02-01
2023-01-31
03006683
bus:SmallCompaniesRegimeForAccounts
2022-02-01
2023-01-31
03006683
bus:PrivateLimitedCompanyLtd
2022-02-01
2023-01-31
COMPANY REGISTRATION NUMBER:
03006683
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 January 2023
Fixed assets
Tangible assets |
6 |
|
884 |
884 |
|
|
|
|
|
Current assets
Debtors |
7 |
36,035 |
|
55,936 |
Cash at bank and in hand |
12,517 |
|
34,452 |
|
--------- |
|
--------- |
|
48,552 |
|
90,388 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
1,213 |
|
30,350 |
|
--------- |
|
--------- |
Net current assets |
|
47,339 |
60,038 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
48,223 |
60,922 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
74 |
74 |
|
|
--------- |
--------- |
Net assets |
|
48,149 |
60,848 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
200 |
200 |
Profit and loss account |
|
47,949 |
60,648 |
|
|
--------- |
--------- |
Shareholders funds |
|
48,149 |
60,848 |
|
|
--------- |
--------- |
|
|
|
|
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 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 January 2023
These financial statements were approved by the
board of directors
and authorised for issue on
5 October 2023
, and are signed on behalf of the board by:
Company registration number:
03006683
Notes to the Financial Statements |
|
Year ended 31 January 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Wigton Chase, Leeds, LS17 8SG.
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.
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.
Income tax
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.
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 Amortisation |
- |
20% 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.
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:
|
Fixtures and fittings |
- |
20% reducing balance |
|
|
|
|
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
(2022:
5
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 February 2022 and 31 January 2023 |
21,025 |
|
--------- |
Amortisation |
|
At 1 February 2022 and 31 January 2023 |
21,025 |
|
--------- |
Carrying amount |
|
At 31 January 2023 |
– |
|
--------- |
At 31 January 2022 |
– |
|
--------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
Total |
|
£ |
£ |
Cost |
|
|
At 1 February 2022 and 31 January 2023 |
11,696 |
11,696 |
|
--------- |
--------- |
Depreciation |
|
|
At 1 February 2022 and 31 January 2023 |
10,812 |
10,812 |
|
--------- |
--------- |
Carrying amount |
|
|
At 31 January 2023 |
884 |
884 |
|
--------- |
--------- |
At 31 January 2022 |
884 |
884 |
|
--------- |
--------- |
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
– |
15,490 |
Other debtors |
36,035 |
40,446 |
|
--------- |
--------- |
|
36,035 |
55,936 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Corporation tax |
106 |
106 |
Social security and other taxes |
– |
6,129 |
Other creditors |
1,107 |
24,115 |
|
------- |
--------- |
|
1,213 |
30,350 |
|
------- |
--------- |
|
|
|
9.
Director's advances, credits and guarantees
Included in other debtors is an amount owed by the Company of (£22,936) (2020: £3563) to the Directors.
10.
Related party transactions
During the year dividends were paid to
Mr I J Grant
, company director and shareholder amounting to £Nil (2022 £NIL). Dividends were paid to Mrs D S Grant, a shareholder and related party to Mr I J Grant
of £20,000 (2022 £27000). Included within debtors at the year-end is a balance of £NIL (2021 £25,445) due from Grants Chartered Accountants. Mr I J Grant
is the sole proprietor of Grants Chartered Accountants. Sales The company has made provision for sub-contracted tax services to Grants Chartered Accountants to the value of £20,000 (2021 £20,000) during the year. Expenses The company incurred the following expenses which were charged by Grants Chartered Accountants:- Rent £NIL (2022 £6,000) Rates £NIL (2022 £2,500) Management charges £3580 (2022 £7,000) Total £NIL (2022 £1,5500) No further transactions with related parties were undertaken such as are required to be disclosed.
11.
Control
The company was under the control of Mr I J Grant throughout the current and previous year.