COMPANY REGISTRATION NUMBER:
07449530
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 May 2023
Fixed assets
Investments |
4 |
|
741,339 |
741,339 |
|
|
|
|
|
Current assets
Debtors |
5 |
195,181 |
|
223,781 |
Cash at bank and in hand |
144 |
|
99 |
|
--------- |
|
--------- |
|
195,325 |
|
223,880 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
517,391 |
|
515,720 |
|
--------- |
|
--------- |
Net current liabilities |
|
322,066 |
291,840 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
419,273 |
449,499 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
(
2,153) |
(
2,153) |
|
|
--------- |
--------- |
Net assets |
|
421,426 |
451,652 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
421,326 |
451,552 |
|
|
--------- |
--------- |
Shareholders funds |
|
421,426 |
451,652 |
|
|
--------- |
--------- |
|
|
|
|
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.
For the year ending 31 May 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 May 2023
These financial statements were approved by the
board of directors
and authorised for issue on
1 February 2024
, and are signed on behalf of the board by:
Company registration number:
07449530
Notes to the Financial Statements |
|
Year ended 31 May 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 3 Greengate, Cardale Park, Harrogate, North Yorkshire, HG3 1GY.
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 accounts are prepared on the going concern basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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.
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 statement of financial position 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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 June 2022 and 31 May 2023 |
741,339 |
|
--------- |
Impairment |
|
At 1 June 2022 and 31 May 2023 |
– |
|
--------- |
|
|
Carrying amount |
|
At 31 May 2023 |
741,339 |
|
--------- |
At 31 May 2022 |
741,339 |
|
--------- |
|
|
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
195,181 |
223,781 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
515,891 |
514,220 |
Other creditors |
1,500 |
1,500 |
|
--------- |
--------- |
|
517,391 |
515,720 |
|
--------- |
--------- |
|
|
|
7.
Directors' advances, credits and guarantees
At the year end the directors owed £195,181 to the company, this was repaid in full post year end.
8.
Related party transactions
The company was under the control of its directors throughout the year. No transactions were undertaken, such as are required to be disclosed under Financial Reporting Standard 102.