23 false false false false false false false false false false true false false false false false false No description of principal activity 2022-09-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07567354 2022-09-01 2023-08-31 07567354 2023-08-31 07567354 2022-08-31 07567354 2021-09-01 2022-08-31 07567354 2022-08-31 07567354 2021-08-31 07567354 core:PlantMachinery 2022-09-01 2023-08-31 07567354 bus:Director2 2022-09-01 2023-08-31 07567354 core:WithinOneYear 2023-08-31 07567354 core:WithinOneYear 2022-08-31 07567354 core:PlantMachinery 2022-08-31 07567354 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 07567354 core:PlantMachinery 2023-08-31 07567354 core:AfterOneYear 2023-08-31 07567354 core:AfterOneYear 2022-08-31 07567354 core:ShareCapital 2023-08-31 07567354 core:ShareCapital 2022-08-31 07567354 core:RetainedEarningsAccumulatedLosses 2023-08-31 07567354 core:RetainedEarningsAccumulatedLosses 2022-08-31 07567354 core:LandBuildings core:OwnedOrFreeholdAssets 2022-08-31 07567354 core:PlantMachinery 2022-08-31 07567354 bus:SmallEntities 2022-09-01 2023-08-31 07567354 bus:AuditExemptWithAccountantsReport 2022-09-01 2023-08-31 07567354 bus:SmallCompaniesRegimeForAccounts 2022-09-01 2023-08-31 07567354 bus:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 07567354 bus:FullAccounts 2022-09-01 2023-08-31
COMPANY REGISTRATION NUMBER: 07567354
STOCK CONSOLIDATION LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 August 2023
STOCK CONSOLIDATION LTD
STATEMENT OF FINANCIAL POSITION
31 August 2023
2023
2022
Note
£
£
FIXED ASSETS
Tangible assets
5
95,275
98,843
CURRENT ASSETS
Debtors
6
125,161
150,979
Cash at bank and in hand
132,333
167,837
-----------
-----------
257,494
318,816
CREDITORS: amounts falling due within one year
7
137,642
150,304
-----------
-----------
NET CURRENT ASSETS
119,852
168,512
-----------
-----------
TOTAL ASSETS LESS CURRENT LIABILITIES
215,127
267,355
CREDITORS: amounts falling due after more than one year
8
14,000
22,000
PROVISIONS
18,102
18,437
-----------
-----------
NET ASSETS
183,025
226,918
-----------
-----------
CAPITAL AND RESERVES
Called up share capital
104
104
Profit and loss account
182,921
226,814
-----------
-----------
SHAREHOLDERS FUNDS
183,025
226,918
-----------
-----------
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 August 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 .
STOCK CONSOLIDATION LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 August 2023
These financial statements were approved by the board of directors and authorised for issue on 1 May 2024 , and are signed on behalf of the board by:
Mr A Wilson
Director
Company registration number: 07567354
STOCK CONSOLIDATION LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31st AUGUST 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 52 - 62, Oakhill Trading Estate, Devonshire Road, Worsley, Manchester, M28 3PT.
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.
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:
Plant and machinery
-
10% reducing balance
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
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 23 (2022: 23 ).
5. TANGIBLE ASSETS
Freehold property
Plant and machinery
Total
£
£
£
Cost
At 1st September 2022 and 31st August 2023
61,752
53,878
115,630
---------
---------
-----------
Depreciation
At 1st September 2022
16,787
16,787
Charge for the year
3,568
3,568
---------
---------
-----------
At 31st August 2023
20,355
20,355
---------
---------
-----------
Carrying amount
At 31st August 2023
61,752
33,523
95,275
---------
---------
-----------
At 31st August 2022
61,752
37,091
98,843
---------
---------
-----------
6. DEBTORS
2023
2022
£
£
Trade debtors
86,059
122,242
Prepayments and accrued income
39,102
28,737
-----------
-----------
125,161
150,979
-----------
-----------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,000
8,000
Trade creditors
59,184
52,241
Accruals and deferred income
5,246
2,843
Corporation tax
29,382
36,377
Social security and other taxes
33,142
48,557
Director loan accounts
2,688
2,286
-----------
-----------
137,642
150,304
-----------
-----------
8. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,000
22,000
---------
---------