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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
384,290
436,871
821,161
821,161
384,290
450,002
341,118
791,120
791,120
450,002
xbrli:pure
xbrli:shares
iso4217:GBP
10016454
2022-04-01
2023-03-31
10016454
2023-03-31
10016454
2022-03-31
10016454
2021-04-01
2022-03-31
10016454
2022-03-31
10016454
2021-03-31
10016454
bus:Director1
2022-04-01
2023-03-31
10016454
bus:Director2
2022-04-01
2023-03-31
10016454
core:WithinOneYear
2023-03-31
10016454
core:WithinOneYear
2022-03-31
10016454
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-04-01
2023-03-31
10016454
core:AfterOneYear
2023-03-31
10016454
core:AfterOneYear
2022-03-31
10016454
core:ShareCapital
2023-03-31
10016454
core:ShareCapital
2022-03-31
10016454
core:RetainedEarningsAccumulatedLosses
2023-03-31
10016454
core:RetainedEarningsAccumulatedLosses
2022-03-31
10016454
core:CostValuation
core:Non-currentFinancialInstruments
2022-03-31
10016454
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-03-31
10016454
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
10016454
core:Non-currentFinancialInstruments
2023-03-31
10016454
core:Non-currentFinancialInstruments
2022-03-31
10016454
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
10016454
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-03-31
10016454
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-03-31
10016454
bus:SmallEntities
2022-04-01
2023-03-31
10016454
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
10016454
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
10016454
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
10016454
bus:FullAccounts
2022-04-01
2023-03-31
10016454
core:AfterOneYear
2022-04-01
2023-03-31
10016454
core:AllAssociates
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
10016454
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2023
FIXED ASSETS
Tangible assets |
4 |
|
821,161 |
|
384,290 |
Investments |
5 |
|
791,120 |
|
450,002 |
|
|
------------- |
|
---------- |
|
|
1,612,281 |
|
834,292 |
|
|
|
|
|
|
CURRENT ASSETS
Debtors |
6 |
148,925 |
|
190,007 |
|
Cash at bank and in hand |
230 |
|
13,134 |
|
|
---------- |
|
---------- |
|
|
149,155 |
|
203,141 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
163,498 |
|
70,543 |
|
|
---------- |
|
---------- |
|
NET CURRENT (LIABILITIES)/ASSETS |
|
(
14,343) |
|
132,598 |
|
|
------------- |
|
---------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
1,597,938 |
|
966,890 |
|
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
8 |
|
1,238,034 |
|
638,938 |
|
|
------------- |
|
---------- |
NET ASSETS |
|
359,904 |
|
327,952 |
|
|
------------- |
|
---------- |
|
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
100 |
|
100 |
Profit and loss account |
|
359,804 |
|
327,852 |
|
|
---------- |
|
---------- |
SHAREHOLDERS FUNDS |
|
359,904 |
|
327,952 |
|
|
---------- |
|
---------- |
|
|
|
|
|
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 income statement 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 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 2023
These financial statements were approved by the
board of directors
and authorised for issue on
22 August 2023
, and are signed on behalf of the board by:
Dr R Hassan |
Dr P Hassan |
Director |
Director |
|
|
Company registration number:
10016454
NOTES TO THE 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 31 Bedford Road, Clophill, MK45 4AE.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
ACCOUNTING POLICIES
(a)
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.
(b)
Going concern
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c)
Consolidation
Under the provision of section 398 of the Companies Act 2006, the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as a single entity.
(d)
Current & deferred 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.
(e)
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.
(f)
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
(g)
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
(h)
Impairment of fixed assets
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.
(i)
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
TANGIBLE ASSETS
|
Freehold property |
|
£ |
Cost |
|
At 1 April 2022 |
384,290 |
Additions |
436,871 |
|
---------- |
At 31 March 2023 |
821,161 |
|
---------- |
Depreciation |
|
At 1 April 2022 and 31 March 2023 |
– |
|
---------- |
Carrying amount |
|
At 31 March 2023 |
821,161 |
|
---------- |
At 31 March 2022 |
384,290 |
|
---------- |
|
|
Investment properties were valued in March 2017 by the directors who have experience in the location and category of the investment property being valued.
5.
INVESTMENTS
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2022 |
450,002 |
Additions |
341,118 |
|
---------- |
At 31 March 2023 |
791,120 |
|
---------- |
Impairment |
|
At 1 April 2022 and 31 March 2023 |
– |
|
---------- |
|
|
Carrying amount |
|
At 31 March 2023 |
791,120 |
|
---------- |
At 31 March 2022 |
450,002 |
|
---------- |
|
|
Under the provision of section 398 of the Companies Act 2006, the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as a single entity.
6.
DEBTORS
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
148,925 |
190,007 |
|
---------- |
---------- |
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
128,458 |
60,785 |
Accruals and deferred income |
913 |
913 |
Corporation tax |
5,309 |
8,845 |
Other creditors |
28,818 |
– |
|
---------- |
-------- |
|
163,498 |
70,543 |
|
---------- |
-------- |
|
|
|
8.
CREDITORS:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
1,238,034 |
638,938 |
|
------------- |
---------- |
|
|
|
Bank loans are secured by a fixed and floating charges on the assets of the Company.
9.
RELATED PARTY TRANSACTIONS
The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group.