Subbie Tax Limited 11520755 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is that of accountancy services Digita Accounts Production Advanced 6.30.9574.0 true true true 11520755 2022-03-01 2023-02-28 11520755 2023-02-28 11520755 core:CurrentFinancialInstruments 2023-02-28 11520755 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 11520755 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-02-28 11520755 bus:SmallEntities 2022-03-01 2023-02-28 11520755 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 11520755 bus:FullAccounts 2022-03-01 2023-02-28 11520755 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 11520755 bus:RegisteredOffice 2022-03-01 2023-02-28 11520755 bus:Director2 2022-03-01 2023-02-28 11520755 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 11520755 core:ComputerSoftware 2022-03-01 2023-02-28 11520755 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-01 2023-02-28 11520755 1 2022-03-01 2023-02-28 11520755 1 2022-03-01 2023-02-28 11520755 countries:AllCountries 2022-03-01 2023-02-28 11520755 2022-02-28 11520755 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 11520755 2021-03-01 2022-02-28 11520755 2022-02-28 11520755 core:CurrentFinancialInstruments 2022-02-28 11520755 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 11520755 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 11520755

Subbie Tax Limited

Filleted Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Subbie Tax Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Subbie Tax Limited

(Registration number: 11520755)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

18,294

15,218

Current assets

 

Debtors

5

1,984

3,385

Cash at bank and in hand

 

119

9,630

 

2,103

13,015

Creditors: Amounts falling due within one year

6

(28,057)

(28,129)

Net current liabilities

 

(25,954)

(15,114)

Net (liabilities)/assets

 

(7,660)

104

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(7,760)

4

Shareholders' (deficit)/funds

 

(7,660)

104

For the financial year ending 28 February 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 

.........................................
Miss K Cheadle
Director

 

Subbie Tax Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Suite G18
Genesis Centre
Innovation Way
Stoke on Trent
ST6 4BF

These financial statements were authorised for issue by the Board on 2 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. At 28th February 2023 the company had negative reserves of £7760. The company has the continued support from FHS Accounting Limited and they have confirmed the loan will not be called in within the next 12 months.

Judgements

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 based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Subbie Tax Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
 

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Computer software

10% straight line

Financial instruments

Recognition and measurement
A financial asset or financial liability is recognised only when the company 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.

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 or either assessed individually or grouped on the basis or similar credit risk characteristics.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Subbie Tax Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Intangible assets

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 March 2022

19,395

19,395

Additions acquired separately

5,573

5,573

At 28 February 2023

24,968

24,968

Amortisation

At 1 March 2022

4,177

4,177

Amortisation charge

2,497

2,497

At 28 February 2023

6,674

6,674

Carrying amount

At 28 February 2023

18,294

18,294

At 28 February 2022

15,218

15,218

5

Debtors

Current

2023
£

2022
£

Trade debtors

398

200

Prepayments

1,349

2,645

Other debtors

237

540

 

1,984

3,385

6

Creditors

Creditors: amounts falling due within one year

 

Subbie Tax Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

35

5,583

Amounts owed to group undertakings and undertakings in which the company has a participating interest

7

28,022

22,546

 

28,057

28,129

Creditors: amounts falling due after more than one year

2023
£

2022
£

7

Related party transactions

Amounts due to fellow subsidiaries totalled £28,022 (2022 -£22,546), all transactions undertaken with related parties were under normal market conditions and/or not material.


8

Parent and ultimate parent undertaking

F & C Holdings Limited is the company's ultimate parent undertaking. The parent undertaking's registered office is c/o FHS, Suite G18, Genesis Centre, Innovation Way, Stoke on Trent, ST6 4BF.

 The company's immediate parent is F & C Holdings Limited, incorporated in England & Wales.

 

9

Non adjusting events after the financial period

There were no material events up tp the date of approval of the financial statements by the board.