5
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-03-01
Sage Accounts Production Advanced 2021 - FRS102_2021
9,653
5,769
15,422
6,125
3,736
9,861
5,561
3,528
207,254
207,254
207,254
xbrli:pure
xbrli:shares
iso4217:GBP
10597570
2022-03-01
2023-02-28
10597570
2023-02-28
10597570
2022-02-28
10597570
2021-03-01
2022-02-28
10597570
2022-02-28
10597570
core:PlantMachinery
2022-03-01
2023-02-28
10597570
bus:Director1
2022-03-01
2023-02-28
10597570
core:PlantMachinery
2022-02-28
10597570
core:PlantMachinery
2023-02-28
10597570
core:WithinOneYear
2023-02-28
10597570
core:WithinOneYear
2022-02-28
10597570
core:AfterOneYear
2023-02-28
10597570
core:AfterOneYear
2022-02-28
10597570
core:ShareCapital
2023-02-28
10597570
core:ShareCapital
2022-02-28
10597570
core:RetainedEarningsAccumulatedLosses
2023-02-28
10597570
core:RetainedEarningsAccumulatedLosses
2022-02-28
10597570
core:CostValuation
core:Non-currentFinancialInstruments
2023-02-28
10597570
core:Non-currentFinancialInstruments
2023-02-28
10597570
core:Non-currentFinancialInstruments
2022-02-28
10597570
core:PlantMachinery
2022-02-28
10597570
bus:SmallEntities
2022-03-01
2023-02-28
10597570
bus:AuditExemptWithAccountantsReport
2022-03-01
2023-02-28
10597570
bus:FullAccounts
2022-03-01
2023-02-28
10597570
bus:SmallCompaniesRegimeForAccounts
2022-03-01
2023-02-28
10597570
bus:PrivateLimitedCompanyLtd
2022-03-01
2023-02-28
COMPANY REGISTRATION NUMBER:
10597570
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
28 February 2023
Fixed assets
Tangible assets |
5 |
|
5,561 |
|
3,528 |
Investments |
6 |
|
207,254 |
|
207,254 |
|
|
----------- |
|
----------- |
|
|
212,815 |
|
210,782 |
|
|
|
|
|
|
Current assets
Debtors |
7 |
25,166 |
|
1,920 |
|
Cash at bank and in hand |
64,184 |
|
19,193 |
|
|
--------- |
|
--------- |
|
|
89,350 |
|
21,113 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
51,854 |
|
133,047 |
|
|
--------- |
|
----------- |
|
Net current assets/(liabilities) |
|
37,496 |
|
(
111,934) |
|
|
----------- |
|
----------- |
Total assets less current liabilities |
|
250,311 |
|
98,848 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
49,752 |
|
55,891 |
|
|
----------- |
|
--------- |
Net assets |
|
200,559 |
|
42,957 |
|
|
----------- |
|
--------- |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
|
1 |
Profit and loss account |
|
200,558 |
|
42,956 |
|
|
----------- |
|
--------- |
Shareholders funds |
|
200,559 |
|
42,957 |
|
|
----------- |
|
--------- |
|
|
|
|
|
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 statement of income and retained earnings has not been delivered.
STATEMENT OF FINANCIAL POSITION (continued) |
|
28 February 2023
For the 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.
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
28 November 2023
, and are signed on behalf of the board by:
Company registration number:
10597570
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 28 FEBRUARY 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 Beaconside Business Village, Stafford Enterprise Park, Weston Road, Stafford, ST18 0BF.
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.
Judgements and key sources of estimation uncertainty
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 are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and 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.
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.
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:
|
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. Debt instruments are subsequently measured at amortised cost.
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
5
(2022:
2
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 March 2022 |
9,653 |
Additions |
5,769 |
|
--------- |
At 28 February 2023 |
15,422 |
|
--------- |
Depreciation |
|
At 1 March 2022 |
6,125 |
Charge for the year |
3,736 |
|
--------- |
At 28 February 2023 |
9,861 |
|
--------- |
Carrying amount |
|
At 28 February 2023 |
5,561 |
|
--------- |
At 28 February 2022 |
3,528 |
|
--------- |
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 March 2022 and 28 February 2023 |
207,254 |
|
----------- |
Impairment |
|
At 1 March 2022 and 28 February 2023 |
– |
|
----------- |
|
|
Carrying amount |
|
At 28 February 2023 |
207,254 |
|
----------- |
At 28 February 2022 |
207,254 |
|
----------- |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
25,166 |
1,920 |
|
--------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
8,320 |
8,105 |
Social security and other taxes |
40,338 |
2,210 |
Other creditors |
3,196 |
122,732 |
|
--------- |
----------- |
|
51,854 |
133,047 |
|
--------- |
----------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
49,752 |
55,891 |
|
--------- |
--------- |
|
|
|