1
false
false
false
false
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false
false
false
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false
true
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No description of principal activity
2022-11-01
Sage Accounts Production Advanced 2023 - FRS102_2023
6,887
6,887
305,000
305,000
305,000
xbrli:pure
xbrli:shares
iso4217:GBP
00383458
2022-11-01
2023-10-31
00383458
2023-10-31
00383458
2022-10-31
00383458
2021-11-01
2022-10-31
00383458
2022-10-31
00383458
2021-10-31
00383458
core:FurnitureFittings
2022-11-01
2023-10-31
00383458
bus:OrdinaryShareClass1
2022-11-01
2023-10-31
00383458
bus:OrdinaryShareClass2
2022-11-01
2023-10-31
00383458
bus:Director1
2022-11-01
2023-10-31
00383458
core:FurnitureFittings
2023-10-31
00383458
core:WithinOneYear
2023-10-31
00383458
core:WithinOneYear
2022-10-31
00383458
core:ShareCapital
2023-10-31
00383458
core:ShareCapital
2022-10-31
00383458
core:CapitalRedemptionReserve
2023-10-31
00383458
core:CapitalRedemptionReserve
2022-10-31
00383458
core:OtherReservesSubtotal
2023-10-31
00383458
core:OtherReservesSubtotal
2022-10-31
00383458
core:RetainedEarningsAccumulatedLosses
2023-10-31
00383458
core:RetainedEarningsAccumulatedLosses
2022-10-31
00383458
core:CostValuation
core:Non-currentFinancialInstruments
2023-10-31
00383458
core:Non-currentFinancialInstruments
2023-10-31
00383458
core:Non-currentFinancialInstruments
2022-10-31
00383458
bus:Director1
2022-10-31
00383458
bus:Director1
2023-10-31
00383458
bus:Director1
2021-10-31
00383458
bus:Director1
2022-10-31
00383458
bus:Director1
2021-11-01
2022-10-31
00383458
bus:SmallEntities
2022-11-01
2023-10-31
00383458
bus:AuditExemptWithAccountantsReport
2022-11-01
2023-10-31
00383458
bus:SmallCompaniesRegimeForAccounts
2022-11-01
2023-10-31
00383458
bus:PrivateLimitedCompanyLtd
2022-11-01
2023-10-31
00383458
bus:FullAccounts
2022-11-01
2023-10-31
00383458
bus:OrdinaryShareClass1
2023-10-31
00383458
bus:OrdinaryShareClass1
2022-10-31
00383458
bus:OrdinaryShareClass2
2023-10-31
00383458
bus:OrdinaryShareClass2
2022-10-31
00383458
bus:AllOrdinaryShares
2023-10-31
00383458
bus:AllOrdinaryShares
2022-10-31
COMPANY REGISTRATION NUMBER:
00383458
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 October 2023
Fixed Assets
Investments |
6 |
|
305,000 |
|
305,000 |
|
|
|
|
|
|
Current Assets
Debtors |
7 |
26,357 |
|
33,038 |
|
Cash at bank and in hand |
10,599 |
|
7,094 |
|
|
--------- |
|
--------- |
|
|
36,956 |
|
40,132 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
8,417 |
|
7,730 |
|
|
--------- |
|
--------- |
|
Net Current Assets |
|
28,539 |
|
32,402 |
|
|
---------- |
|
---------- |
Total Assets Less Current Liabilities |
|
333,539 |
|
337,402 |
|
|
---------- |
|
---------- |
|
|
|
|
|
|
Capital and Reserves
Called up share capital |
9 |
|
11,575 |
|
11,575 |
Capital redemption reserve |
|
3,425 |
|
3,425 |
Other reserves |
|
2,537 |
|
2,537 |
Profit and loss account |
|
316,002 |
|
319,865 |
|
|
---------- |
|
---------- |
Shareholder Funds |
|
333,539 |
|
337,402 |
|
|
---------- |
|
---------- |
|
|
|
|
|
|
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 31st October 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 her 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 October 2023
These financial statements were approved by the
board of directors
and authorised for issue on
11 March 2024
, and are signed on behalf of the board by:
Company registration number:
00383458
Notes to the Financial Statements |
|
Year ended 31st October 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 Hillborough, Yarnold Lane, Bournheath, Nr. Bromsgrove, B61 9JF.
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 presented in sterling which is the functional currency of the company and rounded to the nearest £.
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 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.
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 |
- |
33% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investment properties are initially recorded at cost, which includes purchase price and any directly attributable expenditure.
Investment properties are revalued to their fair values at each reporting date and any changes in fair value are recognised in profit or loss.
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.
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payments is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible Assets
|
Fixtures and fittings |
Total |
|
£ |
£ |
Cost |
|
|
At 1st November 2022 and 31st October 2023 |
6,887 |
6,887 |
|
------- |
------- |
Depreciation |
|
|
At 1st November 2022 and 31st October 2023 |
6,887 |
6,887 |
|
------- |
------- |
Carrying amount |
|
|
At 31st October 2023 |
– |
– |
|
------- |
------- |
At 31st October 2022 |
– |
– |
|
------- |
------- |
|
|
|
6.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1st November 2022 and 31st October 2023 |
305,000 |
|
---------- |
Impairment |
|
At 1st November 2022 and 31st October 2023 |
– |
|
---------- |
|
|
Carrying amount |
|
At 31st October 2023 |
305,000 |
|
---------- |
At 31st October 2022 |
305,000 |
|
---------- |
|
|
On 31st October 2023 the investment properties were valued by the director, on an open market value basis, in the sum of £305,000.
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Other debtors |
26,357 |
33,038 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Social security and other taxes |
751 |
630 |
Other creditors |
7,666 |
7,100 |
|
------- |
------- |
|
8,417 |
7,730 |
|
------- |
------- |
|
|
|
9.
Called Up Share Capital
Authorised share capital
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary A shares of £ 1 each |
4,375 |
4,375 |
4,375 |
4,375 |
Ordinary B shares of £ 1 each |
7,200 |
7,200 |
7,200 |
7,200 |
|
--------- |
--------- |
--------- |
--------- |
|
11,575 |
11,575 |
11,575 |
11,575 |
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary A shares of £ 1 each |
4,375 |
4,375 |
4,375 |
4,375 |
Ordinary B shares of £ 1 each |
7,200 |
7,200 |
7,200 |
7,200 |
|
--------- |
--------- |
--------- |
--------- |
|
11,575 |
11,575 |
11,575 |
11,575 |
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
10.
Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:
|
2023 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
Mrs M.R. Palmer |
24,170 |
3,489 |
(
7,774) |
19,885 |
|
|
--------- |
------- |
------- |
--------- |
|
|
|
|
|
|
|
2022 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
£ |
|
Mrs M.R. Palmer |
37,034 |
3,114 |
(
15,978) |
24,170 |
|
|
--------- |
------- |
--------- |
--------- |
|
|
|
|
|
|
Interest is charged on the overdrawn loan at 2% per annum until 31st March 2023 and 2.25% thereafter. The loan is repayable on demand.