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No description of principal activity
2021-10-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
05769413
2021-10-01
2022-09-30
05769413
2022-09-30
05769413
2021-09-30
05769413
2020-10-01
2021-09-30
05769413
2021-09-30
05769413
core:PlantMachinery
2021-10-01
2022-09-30
05769413
core:FurnitureFittings
2021-10-01
2022-09-30
05769413
core:MotorVehicles
2021-10-01
2022-09-30
05769413
bus:Director1
2021-10-01
2022-09-30
05769413
core:WithinOneYear
2022-09-30
05769413
core:WithinOneYear
2021-09-30
05769413
core:AfterOneYear
2022-09-30
05769413
core:AfterOneYear
2021-09-30
05769413
core:ShareCapital
2022-09-30
05769413
core:ShareCapital
2021-09-30
05769413
core:RetainedEarningsAccumulatedLosses
2022-09-30
05769413
core:RetainedEarningsAccumulatedLosses
2021-09-30
05769413
core:CostValuation
core:Non-currentFinancialInstruments
2022-09-30
05769413
core:Non-currentFinancialInstruments
2022-09-30
05769413
core:Non-currentFinancialInstruments
2021-09-30
05769413
bus:SmallEntities
2021-10-01
2022-09-30
05769413
bus:AuditExempt-NoAccountantsReport
2021-10-01
2022-09-30
05769413
bus:AbridgedAccounts
2021-10-01
2022-09-30
05769413
bus:SmallCompaniesRegimeForAccounts
2021-10-01
2022-09-30
05769413
bus:PrivateLimitedCompanyLtd
2021-10-01
2022-09-30
05769413
core:LandBuildings
core:LongLeaseholdAssets
2021-10-01
2022-09-30
05769413
core:ComputerEquipment
2021-10-01
2022-09-30
COMPANY REGISTRATION NUMBER:
05769413
Filleted Unaudited Abridged Financial Statements |
|
30 September 2022
Fixed assets
Tangible assets |
5 |
|
117,167 |
268,193 |
Investments |
6 |
|
3,625 |
3,625 |
|
|
--------- |
--------- |
|
|
120,792 |
271,818 |
|
|
|
|
|
Current assets
Stocks |
12,350 |
|
12,822 |
Debtors |
239,636 |
|
135,832 |
Cash at bank and in hand |
305,050 |
|
230,002 |
|
--------- |
|
--------- |
|
557,036 |
|
378,656 |
|
|
|
|
Creditors: amounts falling due within one year |
295,197 |
|
409,005 |
|
--------- |
|
--------- |
Net current assets/(liabilities) |
|
261,839 |
(
30,349) |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
382,631 |
241,469 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
40,833 |
50,000 |
|
|
--------- |
--------- |
Net assets |
|
341,798 |
191,469 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
341,698 |
191,369 |
|
|
--------- |
--------- |
Shareholders funds |
|
341,798 |
191,469 |
|
|
--------- |
--------- |
|
|
|
|
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 30 September 2022 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) |
|
30 September 2022
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 30 September 2022 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
13 November 2023
, and are signed on behalf of the board by:
Company registration number:
05769413
Notes to the Abridged Financial Statements |
|
Year ended 30 September 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 28 Curtain Road, Shoreditch, London, EC2A 3NZ.
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. 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.
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.
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:
|
Long leasehold property |
- |
Over 20 years
|
|
Plant and machinery |
- |
25% straight line |
|
Fixtures and fittings |
- |
20% straight line |
|
Motor vehicles |
- |
20% straight line |
|
Computer 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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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
22
(2021:
13
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 October 2021 |
558,764 |
Additions |
1,846 |
Disposals |
(
241,927) |
|
--------- |
At 30 September 2022 |
318,683 |
|
--------- |
Depreciation |
|
At 1 October 2021 |
290,571 |
Charge for the year |
16,865 |
Disposals |
(
105,920) |
|
--------- |
At 30 September 2022 |
201,516 |
|
--------- |
Carrying amount |
|
At 30 September 2022 |
117,167 |
|
--------- |
At 30 September 2021 |
268,193 |
|
--------- |
|
|
6.
Investments
|
£ |
Cost |
|
At 1 October 2021 and 30 September 2022 |
3,625 |
|
------- |
Impairment |
|
At 1 October 2021 and 30 September 2022 |
– |
|
------- |
Carrying amount |
|
At 30 September 2022 |
3,625 |
|
------- |
At 30 September 2021 |
3,625 |
|
------- |
|
|
7.
Directors' advances, credits and guarantees
At 30 September 2022, a balance of £94,456 was owed to the directors (2021: £136,306). Interest has not been charged, and the loan is repayable on demand.