2
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-11-01
Sage Accounts Production Advanced 2023 - FRS102_2023
47,650
47,650
31,600
31,600
31,600
31,600
xbrli:pure
xbrli:shares
iso4217:GBP
10423636
2021-11-01
2022-10-31
10423636
2022-10-31
10423636
2021-10-31
10423636
2020-11-01
2021-10-31
10423636
2021-10-31
10423636
2020-10-31
10423636
bus:OrdinaryShareClass1
2021-11-01
2022-10-31
10423636
bus:Director1
2021-11-01
2022-10-31
10423636
core:PlantMachinery
2021-11-01
2022-10-31
10423636
core:WithinOneYear
2022-10-31
10423636
core:WithinOneYear
2021-10-31
10423636
core:ShareCapital
2022-10-31
10423636
core:ShareCapital
2021-10-31
10423636
core:SharePremium
2022-10-31
10423636
core:SharePremium
2021-10-31
10423636
core:RetainedEarningsAccumulatedLosses
2022-10-31
10423636
core:RetainedEarningsAccumulatedLosses
2021-10-31
10423636
core:CostValuation
core:Non-currentFinancialInstruments
2022-10-31
10423636
core:Non-currentFinancialInstruments
core:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments
2022-10-31
10423636
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2022-10-31
10423636
core:Non-currentFinancialInstruments
2021-10-31
10423636
bus:SmallEntities
2021-11-01
2022-10-31
10423636
bus:AuditExempt-NoAccountantsReport
2021-11-01
2022-10-31
10423636
bus:SmallCompaniesRegimeForAccounts
2021-11-01
2022-10-31
10423636
bus:PrivateLimitedCompanyLtd
2021-11-01
2022-10-31
10423636
bus:FullAccounts
2021-11-01
2022-10-31
10423636
bus:OrdinaryShareClass1
2022-10-31
10423636
bus:OrdinaryShareClass1
2021-10-31
COMPANY REGISTRATION NUMBER:
10423636
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
31 October 2022
Fixed assets
Current assets
Stocks |
131,737 |
280,970 |
Debtors |
7 |
20,646 |
79,513 |
Cash at bank and in hand |
8,991 |
85,956 |
|
-------- |
-------- |
|
161,374 |
446,439 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
164,424) |
(
629,335) |
|
-------- |
-------- |
Net current liabilities |
(
3,050) |
(
182,896) |
|
------ |
-------- |
Total assets less current liabilities |
(
3,050) |
(
151,296) |
|
------ |
-------- |
Net liabilities |
(
3,050) |
(
151,296) |
|
------ |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
9 |
402 |
402 |
Share premium account |
175,932 |
175,932 |
Profit and loss account |
(
179,384) |
(
327,630) |
|
-------- |
-------- |
Shareholders deficit |
(
3,050) |
(
151,296) |
|
-------- |
-------- |
|
|
|
|
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 profit and loss account has not been delivered.
For the year ending 31 October 2022 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
27 October 2023
, and are signed on behalf of the board by:
Company registration number:
10423636
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 OCTOBER 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 30 Office Invisio Red Lion Street, Richmond, TW9 1RB, England.
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.
Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless stated otherwise.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied, net of returns, discounts and rebates allowed by the company and value added taxes. 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
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. 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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Financial instruments
Basic financial assets, which include trade and other receivables, and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Distributions to equity holders
Dividends and other distributions to the company's shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of income and retained earnings.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2021:
2
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 November 2021 |
– |
Additions |
47,650 |
Disposals |
(
47,650) |
|
------- |
At 31 October 2022 |
– |
|
------- |
Depreciation |
|
At 1 November 2021 and 31 October 2022 |
– |
|
------- |
Carrying amount |
|
At 31 October 2022 |
– |
|
------- |
At 31 October 2021 |
– |
|
------- |
|
|
6.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 November 2021 and 31 October 2022 |
31,600 |
|
------- |
Impairment |
|
At 1 November 2021 |
– |
Other movements |
31,600 |
|
------- |
At 31 October 2022 |
31,600 |
|
------- |
|
|
Carrying amount |
|
At 31 October 2022 |
– |
|
------- |
At 31 October 2021 |
31,600 |
|
------- |
|
|
7.
Debtors
|
2022 |
2021 |
|
£ |
£ |
Trade debtors |
2,646 |
37,213 |
Other debtors |
18,000 |
42,300 |
|
------- |
------- |
|
20,646 |
79,513 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
Trade creditors |
48 |
313,590 |
Corporation tax |
200 |
3,567 |
Social security and other taxes |
123,613 |
54,940 |
Other creditors |
40,563 |
257,238 |
|
-------- |
-------- |
|
164,424 |
629,335 |
|
-------- |
-------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
2022 |
2021 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
402 |
402 |
402 |
402 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Related party transactions
The company was controlled throughout the period by the directors R Pendleton and A Hansen, who each had a 50% shareholding. Included in creditors due within one year are amounts due to: Genisus Ltd £nil (2021: £340,021) Genix Ltd £nil (2021: £70,840) KESA Partners, Inc £nil (2021: £48,176) A Hansen £nil (2021: £70,734) R Pendleton £nil (2021: £3,290) During the year the company was charged management fees from: Genisus Ltd (£173,167) (2021: £nil) KESA Partners, Inc (£48,176) (2021: £nil) A Hansen £7,006 (2021: £17,409) During the year, outstanding balances totalling of £322,600 due to related parties were written off. Genisus Ltd and Genix Ltd are companies controlled by the director R Pendleton. KESA Partners, Inc is a company controlled by the director A Hansen.