0
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-09-01
Sage Accounts Production Advanced 2023 - FRS102_2023
2,069,000
614,000
870,811
1,484,811
584,189
1,455,000
xbrli:pure
xbrli:shares
iso4217:GBP
12135895
2022-09-01
2023-08-31
12135895
2023-08-31
12135895
2022-08-31
12135895
2021-09-01
2022-08-31
12135895
2022-08-31
12135895
2021-08-31
12135895
core:PlantMachinery
2022-09-01
2023-08-31
12135895
core:MotorVehicles
2022-09-01
2023-08-31
12135895
bus:Director1
2022-09-01
2023-08-31
12135895
bus:Director2
2022-09-01
2023-08-31
12135895
core:PlantMachinery
2022-08-31
12135895
core:MotorVehicles
2022-08-31
12135895
core:PlantMachinery
2023-08-31
12135895
core:MotorVehicles
2023-08-31
12135895
core:WithinOneYear
2023-08-31
12135895
core:WithinOneYear
2022-08-31
12135895
core:AfterOneYear
2022-08-31
12135895
core:ShareCapital
2023-08-31
12135895
core:ShareCapital
2022-08-31
12135895
core:RetainedEarningsAccumulatedLosses
2023-08-31
12135895
core:RetainedEarningsAccumulatedLosses
2022-08-31
12135895
core:CostValuation
core:Non-currentFinancialInstruments
2023-08-31
12135895
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2022-08-31
12135895
core:ImpairmentLossProvisionsForImpairmentInvestments
core:Non-currentFinancialInstruments
2023-08-31
12135895
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2023-08-31
12135895
core:Non-currentFinancialInstruments
2023-08-31
12135895
core:Non-currentFinancialInstruments
2022-08-31
12135895
core:PlantMachinery
2022-08-31
12135895
core:MotorVehicles
2022-08-31
12135895
bus:SmallEntities
2022-09-01
2023-08-31
12135895
bus:AuditExemptWithAccountantsReport
2022-09-01
2023-08-31
12135895
bus:SmallCompaniesRegimeForAccounts
2022-09-01
2023-08-31
12135895
bus:PrivateLimitedCompanyLtd
2022-09-01
2023-08-31
12135895
bus:FullAccounts
2022-09-01
2023-08-31
12135895
bus:Director1
1
2022-09-01
2023-08-31
12135895
core:AllAssociates
2022-09-01
2023-08-31
COMPANY REGISTRATION NUMBER:
12135895
Filleted Unaudited Financial Statements |
|
Year ended 31 August 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Statement of Financial Position |
|
31 August 2023
Fixed assets
Tangible assets |
5 |
330,213 |
412,766 |
Investments |
6 |
584,189 |
1,455,000 |
|
--------- |
------------ |
|
914,402 |
1,867,766 |
|
|
|
|
Current assets
Debtors |
7 |
620,000 |
241,438 |
Cash at bank and in hand |
80,132 |
4,678 |
|
--------- |
--------- |
|
700,132 |
246,116 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
851,379 |
936,205 |
|
--------- |
--------- |
Net current liabilities |
151,247 |
690,089 |
|
--------- |
------------ |
Total assets less current liabilities |
763,155 |
1,177,677 |
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
– |
47,332 |
|
|
|
|
Provisions |
4,676 |
13,462 |
|
--------- |
------------ |
Net assets |
758,479 |
1,116,883 |
|
--------- |
------------ |
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
758,477 |
1,116,881 |
|
--------- |
------------ |
Shareholders funds |
758,479 |
1,116,883 |
|
--------- |
------------ |
|
|
|
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 August 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 August 2023
These financial statements were approved by the
board of directors
and authorised for issue on
10 April 2024
, and are signed on behalf of the board by:
Mr I Hutchison |
Mr W D Russell |
Director |
Director |
|
|
Company registration number:
12135895
Notes to the Financial Statements |
|
Year ended 31 August 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 Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 399 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
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 services rendered, stated net of discounts and of Value Added Tax.
Income 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.
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:
|
Plant and machinery |
- |
20% reducing balance |
|
Motor vehicles |
- |
20% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position 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.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4.
Employee numbers
The average number of persons, including directors, employed by the company during the year amounted to 2 (2022: 2).
5.
Tangible assets
|
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 September 2022 and 31 August 2023 |
190,000 |
253,500 |
443,500 |
|
--------- |
--------- |
--------- |
Depreciation |
|
|
|
At 1 September 2022 |
9,500 |
21,234 |
30,734 |
Charge for the year |
36,100 |
46,453 |
82,553 |
|
--------- |
--------- |
--------- |
At 31 August 2023 |
45,600 |
67,687 |
113,287 |
|
--------- |
--------- |
--------- |
Carrying amount |
|
|
|
At 31 August 2023 |
144,400 |
185,813 |
330,213 |
|
--------- |
--------- |
--------- |
At 31 August 2022 |
180,500 |
232,266 |
412,766 |
|
--------- |
--------- |
--------- |
|
|
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 September 2022 and 31 August 2023 |
2,069,000 |
|
------------ |
Impairment |
|
At 1 September 2022 |
614,000 |
Impairment losses |
870,811 |
|
------------ |
At 31 August 2023 |
1,484,811 |
|
------------ |
|
|
Carrying amount |
|
At 31 August 2023 |
584,189 |
|
------------ |
At 31 August 2022 |
1,455,000 |
|
------------ |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
620,000 |
241,438 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
907 |
– |
Corporation tax |
– |
12,808 |
Social security and other taxes |
9,770 |
16,529 |
Other creditors |
840,702 |
906,868 |
|
--------- |
--------- |
|
851,379 |
936,205 |
|
--------- |
--------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
– |
47,332 |
|
---- |
-------- |
|
|
|
10.
Directors' advances, credits and guarantees
During the year, a director was advanced £nil (2022: £102,275) and made repayments of £103,959 (2022: £nil). Interest of £421 (2022: £1,263) was charged on this loan. At the year end date, the director owed the company £nil (2022: £103,538). During the year, a director was advanced £nil (2022: £100,553) and made repayments of £102,223 (2022: £nil). Interest of £413 (2022: £1,257) was charged on this loan. At the year end date, the company owed the director £22,600 (2022: the director owed the company £101,810).
11.
Related party transactions
At the year end date, the company owed £nil (2022: £231,443), £nil (2022: £194) and £nil (2022: £583,963) to companies associated by common directorship, and was owed £nil (2022: £36,000) by companies associated by common directorship.