COMPANY REGISTRATION NUMBER:
14259606
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 July 2023
Fixed assets
Tangible assets |
4 |
|
516,210 |
|
|
|
|
Current assets
Cash at bank and in hand |
27,893 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
15,972 |
|
|
-------- |
|
Net current assets |
|
11,921 |
|
|
--------- |
Total assets less current liabilities |
|
528,131 |
|
|
|
|
Creditors: amounts falling due after more than one year |
6 |
|
516,868 |
|
|
--------- |
Net assets |
|
11,263 |
|
|
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
1 |
Profit and loss account |
|
11,262 |
|
|
-------- |
Shareholders funds |
|
11,263 |
|
|
-------- |
|
|
|
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 period ending 31 July 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 period 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
.
Statement of Financial Position (continued) |
|
31 July 2023
These financial statements were approved by the
board of directors
and authorised for issue on
24 April 2024
, and are signed on behalf of the board by:
Company registration number:
14259606
Notes to the Financial Statements |
|
Period from 27 July 2022 to 31 July 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 Alex House, 260-268 Chapel Street, Salford, M3 5JZ.
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 and represents amounts receivable for goods supplied and 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.
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:
|
Land and buildings |
- |
2% straight line |
|
|
|
|
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.
4.
Tangible assets
|
Land and Buildings |
|
£ |
Cost |
|
At 27 July 2022 |
– |
Additions |
523,185 |
|
--------- |
At 31 July 2023 |
523,185 |
|
--------- |
Depreciation |
|
At 27 July 2022 |
– |
Charge for the period |
6,975 |
|
--------- |
At 31 July 2023 |
6,975 |
|
--------- |
Carrying amount |
|
At 31 July 2023 |
516,210 |
|
--------- |
|
|
5.
Creditors:
amounts falling due within one year
|
31 Jul 23 |
|
£ |
Social security and other taxes |
4,279 |
Other creditors |
11,693 |
|
-------- |
|
15,972 |
|
-------- |
|
|
6.
Creditors:
amounts falling due after more than one year
|
31 Jul 23 |
|
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
516,868 |
|
--------- |
|
|
7.
Controlling party
The company is a wholly owned subsidiary of
Autosave Holdings Limited
, a company incorporated in England and Wales. Copies of the ultimate parent company's financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.