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No description of principal activity
2022-07-01
Sage Accounts Production Advanced 2021 - FRS102_2021
1,248,103
1,248,103
1,248,103
4,650
4,650
4,650
xbrli:pure
xbrli:shares
iso4217:GBP
00158729
2022-07-01
2023-06-30
00158729
2023-06-30
00158729
2021-07-01
2022-06-30
00158729
2022-06-30
00158729
bus:OrdinaryShareClass1
2022-07-01
2023-06-30
00158729
bus:Director1
2022-07-01
2023-06-30
00158729
core:AfterOneYear
2023-06-30
00158729
core:AfterOneYear
2022-06-30
00158729
core:WithinOneYear
2023-06-30
00158729
core:WithinOneYear
2022-06-30
00158729
core:ShareCapital
2023-06-30
00158729
core:ShareCapital
2022-06-30
00158729
core:SharePremium
2023-06-30
00158729
core:SharePremium
2022-06-30
00158729
core:RevaluationReserve
2023-06-30
00158729
core:RevaluationReserve
2022-06-30
00158729
core:CapitalRedemptionReserve
2023-06-30
00158729
core:CapitalRedemptionReserve
2022-06-30
00158729
core:RetainedEarningsAccumulatedLosses
2023-06-30
00158729
core:RetainedEarningsAccumulatedLosses
2022-06-30
00158729
core:BetweenOneFiveYears
2023-06-30
00158729
core:CostValuation
core:Non-currentFinancialInstruments
2023-06-30
00158729
core:Non-currentFinancialInstruments
2023-06-30
00158729
core:Non-currentFinancialInstruments
2022-06-30
00158729
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-06-30
00158729
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-06-30
00158729
bus:SmallEntities
2022-07-01
2023-06-30
00158729
bus:AuditExemptWithAccountantsReport
2022-07-01
2023-06-30
00158729
bus:FullAccounts
2022-07-01
2023-06-30
00158729
bus:SmallCompaniesRegimeForAccounts
2022-07-01
2023-06-30
00158729
bus:PrivateLimitedCompanyLtd
2022-07-01
2023-06-30
00158729
bus:OrdinaryShareClass1
2023-06-30
00158729
bus:OrdinaryShareClass1
2022-06-30
COMPANY REGISTRATION NUMBER:
00158729
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
30 June 2023
Fixed assets
Tangible assets |
5 |
|
1,248,103 |
1,248,103 |
Investments |
6 |
|
4,650 |
4,650 |
|
|
------------ |
------------ |
|
|
1,252,753 |
1,252,753 |
|
|
|
|
|
Current assets
Debtors |
7 |
375,010 |
|
387,018 |
Cash at bank and in hand |
1,601,695 |
|
1,668,212 |
|
------------ |
|
------------ |
|
1,976,705 |
|
2,055,230 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
146,690 |
|
141,070 |
|
------------ |
|
------------ |
Net current assets |
|
1,830,015 |
1,914,160 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
3,082,768 |
3,166,913 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
8,818 |
8,818 |
|
|
|
|
|
Provisions |
|
34,288 |
34,288 |
|
|
------------ |
------------ |
Net assets |
|
3,039,662 |
3,123,807 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
10 |
|
13,199 |
13,199 |
Share premium account |
|
114,378 |
114,378 |
Revaluation reserve |
|
1,022,895 |
1,022,895 |
Capital redemption reserve |
|
7,000 |
7,000 |
Profit and loss account |
|
1,882,190 |
1,966,335 |
|
|
------------ |
------------ |
Shareholders funds |
|
3,039,662 |
3,123,807 |
|
|
------------ |
------------ |
|
|
|
|
|
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 comprehensive income has not been delivered.
For the year ending 30 June 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) |
|
30 June 2023
These financial statements were approved by the
board of directors
and authorised for issue on
7 March 2024
, and are signed on behalf of the board by:
Company registration number:
00158729
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 30 JUNE 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 The Old Mill Blisworth Hill Farm, Stoke Road, Blisworth, Northampton, NN7 3DB.
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 discounts and Value Added Tax.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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 its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
3
).
5.
Tangible assets
|
Freehold property |
|
£ |
Cost |
|
At 1 July 2022 and 30 June 2023 |
1,248,103 |
|
------------ |
Depreciation |
|
At 1 July 2022 and 30 June 2023 |
– |
|
------------ |
Carrying amount |
|
At 30 June 2023 |
1,248,103 |
|
------------ |
At 30 June 2022 |
1,248,103 |
|
------------ |
|
|
The company's investment properties were subject to revaluation by the directors during the year ended 30 June 2021. The valuations reflected open market value and where appropriate adjusted to include the length of lease remaining. The directors' consider that these valuations continue to reflect a prudent valuation of the company's investment property portfolio
.
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 July 2022 and 30 June 2023 |
4,650 |
|
------- |
Impairment |
|
At 1 July 2022 and 30 June 2023 |
– |
|
------- |
|
|
Carrying amount |
|
At 30 June 2023 |
4,650 |
|
------- |
At 30 June 2022 |
4,650 |
|
------- |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
4 |
4 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
375,000 |
375,000 |
Other debtors |
6 |
12,014 |
|
--------- |
--------- |
|
375,010 |
387,018 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Social security and other taxes |
3,005 |
1,070 |
Other creditors |
143,685 |
140,000 |
|
--------- |
--------- |
|
146,690 |
141,070 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
8,818 |
8,818 |
|
------- |
------- |
|
|
|
10.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
13,199 |
13,199 |
13,199 |
13,199 |
|
-------- |
-------- |
-------- |
-------- |
|
|
|
|
|
11.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
7,608 |
– |
Later than 1 year and not later than 5 years |
19,019 |
– |
|
-------- |
---- |
|
26,627 |
– |
|
-------- |
---- |
|
|
|