2
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
2,266,780
293,272
429,948
2,990,000
2,990,000
2,266,780
140,535
44,153
184,688
xbrli:pure
xbrli:shares
iso4217:GBP
11275655
2022-04-01
2023-03-31
11275655
2023-03-31
11275655
2022-03-31
11275655
2021-04-01
2022-03-31
11275655
2022-03-31
11275655
bus:Director1
2022-04-01
2023-03-31
11275655
bus:Director2
2022-04-01
2023-03-31
11275655
core:WithinOneYear
2023-03-31
11275655
core:WithinOneYear
2022-03-31
11275655
core:DeferredTaxation
2022-04-01
2023-03-31
11275655
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-04-01
2023-03-31
11275655
core:AfterOneYear
2023-03-31
11275655
core:AfterOneYear
2022-03-31
11275655
core:ShareCapital
2023-03-31
11275655
core:ShareCapital
2022-03-31
11275655
core:OtherReservesSubtotal
2023-03-31
11275655
core:OtherReservesSubtotal
2022-03-31
11275655
core:RetainedEarningsAccumulatedLosses
2023-03-31
11275655
core:RetainedEarningsAccumulatedLosses
2022-03-31
11275655
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-03-31
11275655
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-03-31
11275655
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-03-31
11275655
core:DeferredTaxation
2022-03-31
11275655
core:DeferredTaxation
2023-03-31
11275655
bus:SmallEntities
2022-04-01
2023-03-31
11275655
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
11275655
bus:FullAccounts
2022-04-01
2023-03-31
11275655
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
11275655
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
11275655
Filleted Unaudited Financial Statements |
|
31 March 2023
Fixed assets
Tangible assets |
5 |
|
2,990,000 |
|
2,266,780 |
|
|
|
|
|
|
Current assets
Debtors |
6 |
4,485 |
|
144 |
|
Cash at bank and in hand |
100,398 |
|
133,868 |
|
|
--------- |
|
--------- |
|
|
104,883 |
|
134,012 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
236,909) |
|
(
257,909) |
|
|
--------- |
|
--------- |
|
Net current liabilities |
|
(
132,026) |
|
(
123,897) |
|
|
------------ |
|
------------ |
Total assets less current liabilities |
|
2,857,974 |
|
2,142,883 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
(
1,753,536) |
|
(
1,403,122) |
|
|
|
|
|
|
Provisions |
9 |
|
(
184,688) |
|
(
140,535) |
|
|
------------ |
|
------------ |
Net assets |
|
919,750 |
|
599,226 |
|
|
------------ |
|
------------ |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
|
100 |
Other reserves |
|
1,054,540 |
|
706,282 |
Profit and loss account |
|
(
134,890) |
|
(
107,156) |
|
|
------------ |
|
--------- |
Shareholders funds |
|
919,750 |
|
599,226 |
|
|
------------ |
|
--------- |
|
|
|
|
|
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 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
.
Balance Sheet (continued) |
|
31 March 2023
These financial statements were approved by the
board of directors
and authorised for issue on
17 November 2023
, and are signed on behalf of the board by:
Mr A Ball |
Miss K Doodson |
Director |
Director |
|
|
Company registration number:
11275655
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 principal place of business is Dean Head House, Scotland Lane, Horsforth, Leeds, LS18 5HU.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of Value Added Tax.
Corporation 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.
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.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to it's fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the balance sheet and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors, loans from banks and other third parties, and loans to related parties.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2022:
2
).
5.
Tangible assets
|
Investment property |
|
£ |
Cost or valuation |
|
At 1 April 2022 |
2,266,780 |
Additions |
293,272 |
Revaluations |
429,948 |
|
------------ |
At 31 March 2023 |
2,990,000 |
|
------------ |
Depreciation |
|
At 1 April 2022 and 31 March 2023 |
– |
|
------------ |
Carrying amount |
|
At 31 March 2023 |
2,990,000 |
|
------------ |
At 31 March 2022 |
2,266,780 |
|
------------ |
|
|
The investment property has been measured at fair value which is the open market value of the property. Any fair value adjustment has been taken through the profit and loss account.
6.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Prepayments and accrued income |
153 |
144 |
Directors loan accounts |
4,332 |
– |
|
------- |
---- |
|
4,485 |
144 |
|
------- |
---- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Accruals and deferred income |
5,540 |
5,740 |
Other creditors |
231,369 |
252,169 |
|
--------- |
--------- |
|
236,909 |
257,909 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
1,753,536 |
1,384,306 |
Other creditors |
– |
18,816
|
|
------------ |
------------ |
|
1,753,536 |
1,403,122 |
|
------------ |
------------ |
|
|
|
The bank loans are secured by fixed charges over investment property.
9.
Provisions
|
Deferred tax |
|
£ |
At 1 April 2022 |
140,535 |
Additions |
44,153 |
|
--------- |
At 31 March 2023 |
184,688 |
|
--------- |
|
|
10.
Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
|
2023 |
2022 |
|
£ |
£ |
At start of year |
706,282 |
706,282 |
Reclassification from fair value reserve to profit and loss account |
348,258 |
– |
|
------------ |
--------- |
At end of year |
1,054,540 |
706,282 |
|
------------ |
--------- |
|
|
|