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No description of principal activity
2022-06-01
Sage Accounts Production Advanced 2023 - FRS102_2023
10,000
1,000
1,000
2,000
8,000
9,000
4,467
3,148
264
3,412
1,055
1,319
xbrli:pure
xbrli:shares
iso4217:GBP
08084101
2022-06-01
2023-05-31
08084101
2023-05-31
08084101
2022-05-31
08084101
2021-06-01
2022-05-31
08084101
2022-05-31
08084101
2021-05-31
08084101
core:NetGoodwill
2022-06-01
2023-05-31
08084101
core:FurnitureFittings
2022-06-01
2023-05-31
08084101
bus:RegisteredOffice
2022-06-01
2023-05-31
08084101
bus:LeadAgentIfApplicable
2022-06-01
2023-05-31
08084101
bus:Director1
2022-06-01
2023-05-31
08084101
bus:Director2
2022-06-01
2023-05-31
08084101
bus:Director3
2022-06-01
2023-05-31
08084101
core:NetGoodwill
2022-05-31
08084101
core:NetGoodwill
2023-05-31
08084101
core:FurnitureFittings
2022-05-31
08084101
core:FurnitureFittings
2023-05-31
08084101
core:WithinOneYear
2023-05-31
08084101
core:WithinOneYear
2022-05-31
08084101
core:ShareCapital
2023-05-31
08084101
core:ShareCapital
2022-05-31
08084101
core:RetainedEarningsAccumulatedLosses
2023-05-31
08084101
core:RetainedEarningsAccumulatedLosses
2022-05-31
08084101
core:NetGoodwill
2022-05-31
08084101
core:FurnitureFittings
2022-05-31
08084101
bus:SmallEntities
2022-06-01
2023-05-31
08084101
bus:AuditExemptWithAccountantsReport
2022-06-01
2023-05-31
08084101
bus:SmallCompaniesRegimeForAccounts
2022-06-01
2023-05-31
08084101
bus:PrivateLimitedCompanyLtd
2022-06-01
2023-05-31
08084101
bus:FullAccounts
2022-06-01
2023-05-31
COMPANY REGISTRATION NUMBER:
08084101
Filleted Unaudited Financial Statements |
|
Year ended 31 May 2023
Officers and professional advisers |
1 |
|
|
Statement of financial position |
2 to 3 |
|
|
Notes to the financial statements |
4 to 7 |
|
|
Officers and Professional Advisers |
|
The board of directors
D Riley |
|
|
|
- Director
C J Warren
- Director
J R Hall
- Director
Registered office |
41 Hartington Road |
|
Chesterfield |
|
Derbyshire |
|
S41 0HE |
|
|
Accountants |
Gregory Priestley & Stewart |
|
Chartered Accountants |
|
Alexandra House |
|
123 Priestsic Road |
|
Sutton in Ashfield |
|
Nottinghamshire |
|
NG17 4EA |
|
|
Statement of Financial Position |
|
31 May 2023
Fixed assets
Intangible assets |
5 |
8,000 |
9,000 |
Tangible assets |
6 |
1,055 |
1,319 |
|
------- |
-------- |
|
9,055 |
10,319 |
|
|
|
|
Current assets
Stocks |
500 |
600 |
Debtors |
7 |
4,061 |
1,108 |
Cash at bank and in hand |
8,681 |
3,437 |
|
-------- |
------- |
|
13,242 |
5,145 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
12,427 |
10,231 |
|
-------- |
-------- |
Net current assets/(liabilities) |
815 |
(
5,086) |
|
------- |
-------- |
Total assets less current liabilities |
9,870 |
5,233 |
|
|
|
|
Provisions |
200 |
251 |
|
------- |
------- |
Net assets |
9,670 |
4,982 |
|
------- |
------- |
|
|
|
Capital and reserves
Called up share capital |
200 |
200 |
Profit and loss account |
9,470 |
4,782 |
|
------- |
------- |
Shareholders funds |
9,670 |
4,982 |
|
------- |
------- |
|
|
|
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
19 January 2024
, and are signed on behalf of the board by:
D Riley |
C J Warren |
Director |
Director |
|
|
Company registration number:
08084101
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 41 Hartington Road, Chesterfield, Derbyshire, S41 0HE.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
10% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
|
Fixtures and fittings |
- |
20% reducing balance |
|
|
|
|
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties.
Debtors and creditors
Debtors and creditors Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment. Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2022:
1
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 June 2022 and 31 May 2023 |
10,000 |
|
-------- |
Amortisation |
|
At 1 June 2022 |
1,000 |
Charge for the year |
1,000 |
|
-------- |
At 31 May 2023 |
2,000 |
|
-------- |
Carrying amount |
|
At 31 May 2023 |
8,000 |
|
-------- |
At 31 May 2022 |
9,000 |
|
-------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
|
£ |
Cost |
|
At 1 June 2022 and 31 May 2023 |
4,467 |
|
------- |
Depreciation |
|
At 1 June 2022 |
3,148 |
Charge for the year |
264 |
|
------- |
At 31 May 2023 |
3,412 |
|
------- |
Carrying amount |
|
At 31 May 2023 |
1,055 |
|
------- |
At 31 May 2022 |
1,319 |
|
------- |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
4,061 |
1,108 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
684 |
810 |
Corporation tax |
5,255 |
3,919 |
Other creditors |
6,488 |
5,502 |
|
-------- |
-------- |
|
12,427 |
10,231 |
|
-------- |
-------- |
|
|
|
9.
Directors' advances, credits and guarantees
At the end of the balance sheet date, The company owed £3,887 to the Directors.