10
false
false
false
false
false
false
false
false
false
true
false
false
true
true
true
true
true
true
true
true
No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
08305056
2022-04-01
2023-03-31
08305056
2023-03-31
08305056
2022-03-31
08305056
2021-04-01
2022-03-31
08305056
2022-03-31
08305056
core:NetGoodwill
2022-04-01
2023-03-31
08305056
core:PlantMachinery
2022-04-01
2023-03-31
08305056
core:FurnitureFittings
2022-04-01
2023-03-31
08305056
core:MotorVehicles
2022-04-01
2023-03-31
08305056
bus:Director1
2022-04-01
2023-03-31
08305056
bus:Director2
2022-04-01
2023-03-31
08305056
core:WithinOneYear
2023-03-31
08305056
core:WithinOneYear
2022-03-31
08305056
core:AfterOneYear
2023-03-31
08305056
core:AfterOneYear
2022-03-31
08305056
core:ShareCapital
2023-03-31
08305056
core:ShareCapital
2022-03-31
08305056
core:RetainedEarningsAccumulatedLosses
2023-03-31
08305056
core:RetainedEarningsAccumulatedLosses
2022-03-31
08305056
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
08305056
core:Non-currentFinancialInstruments
2023-03-31
08305056
core:Non-currentFinancialInstruments
2022-03-31
08305056
bus:SmallEntities
2022-04-01
2023-03-31
08305056
bus:AuditExempt-NoAccountantsReport
2022-04-01
2023-03-31
08305056
bus:AbridgedAccounts
2022-04-01
2023-03-31
08305056
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
08305056
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
08305056
core:ComputerEquipment
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
08305056
Filleted Unaudited Abridged Financial Statements |
|
31 March 2023
Fixed assets
Tangible assets |
6 |
|
306,531 |
314,997 |
Investments |
7 |
|
120,000 |
120,000 |
|
|
--------- |
--------- |
|
|
426,531 |
434,997 |
|
|
|
|
|
Current assets
Stocks |
3,000 |
|
15,000 |
Debtors |
41,340 |
|
36,431 |
Cash at bank and in hand |
60,659 |
|
137,081 |
|
--------- |
|
--------- |
|
104,999 |
|
188,512 |
|
|
|
|
Creditors: amounts falling due within one year |
154,580 |
|
329,477 |
|
--------- |
|
--------- |
Net current liabilities |
|
49,581 |
140,965 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
376,950 |
294,032 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
21,667 |
31,667 |
|
|
--------- |
--------- |
Net assets |
|
355,283 |
262,365 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
6 |
6 |
Profit and loss account |
|
355,277 |
262,359 |
|
|
--------- |
--------- |
Shareholders funds |
|
355,283 |
262,365 |
|
|
--------- |
--------- |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 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 abridged 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 abridged financial statements
.
Balance Sheet (continued) |
|
31 March 2023
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the balance sheet for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged 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:
Mr E J Forde |
Mr B P Walker |
Director |
Director |
|
|
Company registration number:
08305056
Notes to the Abridged Financial Statements |
|
Year ended 31 March 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 2 Station Field Industrial Estate, Kidlington, Oxon, OX5 1JD, England.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of (enter name of group financial statements) which can be obtained from (enter detail). As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
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.
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 |
- |
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. 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 |
|
Equipment |
- |
33% 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.
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.
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
10
(2022:
11
).
5.
Intangible assets
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
80,000 |
|
-------- |
Amortisation |
|
At 1 April 2022 and 31 March 2023 |
80,000 |
|
-------- |
Carrying amount |
|
At 31 March 2023 |
– |
|
-------- |
At 31 March 2022 |
– |
|
-------- |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 April 2022 |
384,898 |
Additions |
3,295 |
|
--------- |
At 31 March 2023 |
388,193 |
|
--------- |
Depreciation |
|
At 1 April 2022 |
69,901 |
Charge for the year |
11,761 |
|
--------- |
At 31 March 2023 |
81,662 |
|
--------- |
Carrying amount |
|
At 31 March 2023 |
306,531 |
|
--------- |
At 31 March 2022 |
314,997 |
|
--------- |
|
|
7.
Investments
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
120,000 |
|
--------- |
Impairment |
|
At 1 April 2022 and 31 March 2023 |
– |
|
--------- |
Carrying amount |
|
At 31 March 2023 |
120,000 |
|
--------- |
At 31 March 2022 |
120,000 |
|
--------- |
|
|
8.
Directors' advances, credits and guarantees
As at 31 March 2023 a balance of £6 was owed by the directors (2022: £6)
9.
Related party transactions
The company was under the joint control of the directors throughout the current and previous years. During the year the company supplied and received services from JS Motor Services Ltd,a company owned by the directors. The value of services supplied was £36 (2022:£2,365) and received £330 (2022: £1,215). The company also had an inter company loan account with JS Motor Services Ltd, and the net balance due by JS Motors (Oxford) Ltd at 31/03/23 was £19,607 (31/03/22: £157,540).