6
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No description of principal activity
2022-08-01
Sage Accounts Production Advanced 2023 - FRS102_2023
101,279
68,756
10,128
78,884
22,395
32,523
xbrli:pure
xbrli:shares
iso4217:GBP
09830551
2022-08-01
2023-07-31
09830551
2023-07-31
09830551
2022-07-31
09830551
2021-08-01
2022-07-31
09830551
2022-07-31
09830551
2021-07-31
09830551
core:PatentsTrademarksLicencesConcessionsSimilar
2022-08-01
2023-07-31
09830551
core:FurnitureFittings
2022-08-01
2023-07-31
09830551
bus:Director1
2022-08-01
2023-07-31
09830551
core:PatentsTrademarksLicencesConcessionsSimilar
2022-07-31
09830551
core:PatentsTrademarksLicencesConcessionsSimilar
2023-07-31
09830551
core:FurnitureFittings
2022-07-31
09830551
core:FurnitureFittings
2023-07-31
09830551
core:WithinOneYear
2023-07-31
09830551
core:WithinOneYear
2022-07-31
09830551
core:ShareCapital
2023-07-31
09830551
core:ShareCapital
2022-07-31
09830551
core:RetainedEarningsAccumulatedLosses
2023-07-31
09830551
core:RetainedEarningsAccumulatedLosses
2022-07-31
09830551
core:PatentsTrademarksLicencesConcessionsSimilar
2022-07-31
09830551
core:FurnitureFittings
2022-07-31
09830551
bus:SmallEntities
2022-08-01
2023-07-31
09830551
bus:AuditExempt-NoAccountantsReport
2022-08-01
2023-07-31
09830551
bus:SmallCompaniesRegimeForAccounts
2022-08-01
2023-07-31
09830551
bus:PrivateLimitedCompanyLtd
2022-08-01
2023-07-31
09830551
bus:FullAccounts
2022-08-01
2023-07-31
09830551
core:OfficeEquipment
2022-08-01
2023-07-31
09830551
core:OfficeEquipment
2022-07-31
09830551
core:OfficeEquipment
2023-07-31
COMPANY REGISTRATION NUMBER:
09830551
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 July 2023
Fixed assets
Intangible assets |
5 |
22,395 |
32,523 |
Tangible assets |
6 |
12,030 |
7,512 |
|
-------- |
-------- |
|
34,425 |
40,035 |
|
|
|
|
Current assets
Stocks |
35,363 |
40,916 |
Debtors |
7 |
166,910 |
226,916 |
Cash at bank and in hand |
7,064 |
5,587 |
|
--------- |
--------- |
|
209,337 |
273,419 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
1,834,264 |
1,635,654 |
|
------------ |
------------ |
Net current liabilities |
1,624,927 |
1,362,235 |
|
------------ |
------------ |
Total assets less current liabilities |
(
1,590,502) |
(
1,322,200) |
|
------------ |
------------ |
Net liabilities |
(
1,590,502) |
(
1,322,200) |
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
(
1,590,503) |
(
1,322,201) |
|
------------ |
------------ |
Shareholder deficit |
(
1,590,502) |
(
1,322,200) |
|
------------ |
------------ |
|
|
|
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 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 member has not required the company to obtain an audit of its financial statements for the year 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
26 February 2024
, and are signed on behalf of the board by:
Company registration number:
09830551
Notes to the Financial Statements |
|
Year ended 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 Unit 6 & 7, 718-722 Seven Sisters Road, London, N15 5NH, 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, 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 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
|
Patents, trademarks and licences |
- |
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. 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.
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 |
- |
25% reducing balance |
|
Equipment |
- |
33% 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. 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.
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. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2022:
6
).
5.
Intangible assets
|
Patents, trademarks and licences |
|
£ |
Cost |
|
At 1 August 2022 and 31 July 2023 |
101,279 |
|
--------- |
Amortisation |
|
At 1 August 2022 |
68,756 |
Charge for the year |
10,128 |
|
--------- |
At 31 July 2023 |
78,884 |
|
--------- |
Carrying amount |
|
At 31 July 2023 |
22,395 |
|
--------- |
At 31 July 2022 |
32,523 |
|
--------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 August 2022 |
36,891 |
4,611 |
41,502 |
Additions |
– |
9,362 |
9,362 |
|
-------- |
-------- |
-------- |
At 31 July 2023 |
36,891 |
13,973 |
50,864 |
|
-------- |
-------- |
-------- |
Depreciation |
|
|
|
At 1 August 2022 |
31,967 |
2,023 |
33,990 |
Charge for the year |
1,231 |
3,613 |
4,844 |
|
-------- |
-------- |
-------- |
At 31 July 2023 |
33,198 |
5,636 |
38,834 |
|
-------- |
-------- |
-------- |
Carrying amount |
|
|
|
At 31 July 2023 |
3,693 |
8,337 |
12,030 |
|
-------- |
-------- |
-------- |
At 31 July 2022 |
4,924 |
2,588 |
7,512 |
|
-------- |
-------- |
-------- |
|
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
13,547 |
139,933 |
Other debtors |
153,363 |
86,983 |
|
--------- |
--------- |
|
166,910 |
226,916 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
89,224 |
16,441 |
Social security and other taxes |
2,305 |
1,302 |
Wages payable |
9,719 |
1,410
|
Other creditors |
1,733,016 |
1,616,501 |
|
------------ |
------------ |
|
1,834,264 |
1,635,654 |
|
------------ |
------------ |
|
|
|