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No description of principal activity
2022-08-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
10891358
2022-08-01
2023-07-31
10891358
2023-07-31
10891358
2022-07-31
10891358
2021-08-01
2022-07-31
10891358
2022-07-31
10891358
2021-07-31
10891358
core:NetGoodwill
2022-08-01
2023-07-31
10891358
core:PlantMachinery
2022-08-01
2023-07-31
10891358
core:FurnitureFittings
2022-08-01
2023-07-31
10891358
core:MotorVehicles
2022-08-01
2023-07-31
10891358
bus:OrdinaryShareClass1
2022-08-01
2023-07-31
10891358
bus:Director2
2022-08-01
2023-07-31
10891358
core:WithinOneYear
2023-07-31
10891358
core:WithinOneYear
2022-07-31
10891358
core:AfterOneYear
2023-07-31
10891358
core:AfterOneYear
2022-07-31
10891358
core:ShareCapital
2023-07-31
10891358
core:ShareCapital
2022-07-31
10891358
core:RevaluationReserve
2023-07-31
10891358
core:RevaluationReserve
2022-07-31
10891358
core:RetainedEarningsAccumulatedLosses
2023-07-31
10891358
core:RetainedEarningsAccumulatedLosses
2022-07-31
10891358
bus:SmallEntities
2022-08-01
2023-07-31
10891358
bus:AuditExemptWithAccountantsReport
2022-08-01
2023-07-31
10891358
bus:SmallCompaniesRegimeForAccounts
2022-08-01
2023-07-31
10891358
bus:PrivateLimitedCompanyLtd
2022-08-01
2023-07-31
10891358
bus:AbridgedAccounts
2022-08-01
2023-07-31
10891358
bus:OrdinaryShareClass1
2023-07-31
10891358
bus:OrdinaryShareClass1
2022-07-31
COMPANY REGISTRATION NUMBER:
10891358
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year Ended 31 July 2023
Abridged statement of financial position |
1 |
|
|
Notes to the abridged financial statements |
3 |
|
|
Abridged Statement of Financial Position |
|
31 July 2023
Fixed Assets
Intangible assets |
5 |
|
6,000 |
7,500 |
Tangible assets |
6 |
|
658,990 |
707,219 |
|
|
--------- |
--------- |
|
|
664,990 |
714,719 |
|
|
|
|
|
Current Assets
Debtors |
127,636 |
|
154,860 |
Cash at bank and in hand |
218,544 |
|
69,545 |
|
--------- |
|
--------- |
|
346,180 |
|
224,405 |
|
|
|
|
Creditors: amounts falling due within one year |
136,573 |
|
106,315 |
|
--------- |
|
--------- |
Net Current Assets |
|
209,607 |
118,090 |
|
|
--------- |
--------- |
Total Assets Less Current Liabilities |
|
874,597 |
832,809 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
22,748 |
35,494 |
|
|
|
|
Provisions |
|
161,539 |
182,523 |
|
|
--------- |
--------- |
Net Assets |
|
690,310 |
614,792 |
|
|
--------- |
--------- |
|
|
|
|
Capital and Reserves
Called up share capital |
7 |
|
2 |
2 |
Revaluation reserve |
|
416,901 |
416,901 |
Profit and loss account |
|
273,407 |
197,889 |
|
|
--------- |
--------- |
Shareholders Funds |
|
690,310 |
614,792 |
|
|
--------- |
--------- |
|
|
|
|
|
These abridged 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 abridged statement of comprehensive income 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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged 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 abridged financial statements
.
Abridged Statement of Financial Position (continued) |
|
31 July 2023
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
23 April 2024
, and are signed on behalf of the board by:
Mr A M Dickinson |
Director |
|
Company registration number:
10891358
Notes to the Abridged 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 91 - 97 Saltergate, Chesterfield, S40 1LA, England.
2.
Statement of compliance
These abridged 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. All of the members have consented to the preparation of abridged accounts in accordance with Section 444(2A) of the Companies Act 2006.
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
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.
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 |
- |
25% reducing balance |
|
Fixtures and fittings |
- |
25% reducing balance |
|
Motor vehicles |
- |
25% 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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged 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
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.
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
4
(2022:
4
).
5.
Intangible assets
|
£ |
Cost |
|
At 1 August 2022 and 31 July 2023 |
15,000 |
|
-------- |
Amortisation |
|
At 1 August 2022 |
7,500 |
Charge for the year |
1,500 |
|
-------- |
At 31 July 2023 |
9,000 |
|
-------- |
Carrying amount |
|
At 31 July 2023 |
6,000 |
|
-------- |
At 31 July 2022 |
7,500 |
|
-------- |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 August 2022 |
1,042,612 |
Additions |
172,196 |
Disposals |
(
5,800) |
|
------------ |
At 31 July 2023 |
1,209,008 |
|
------------ |
Depreciation |
|
At 1 August 2022 |
335,393 |
Charge for the year |
219,087 |
Disposals |
(
4,462) |
|
------------ |
At 31 July 2023 |
550,018 |
|
------------ |
Carrying amount |
|
At 31 July 2023 |
658,990 |
|
------------ |
At 31 July 2022 |
707,219 |
|
------------ |
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
2 |
2 |
2 |
2 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
8.
Directors' advances, credits and guarantees
There are no director's advances, credits or guarantees requiring disclosure.