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No description of principal activity
2022-11-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
07667336
2022-11-01
2023-10-31
07667336
2023-10-31
07667336
2022-10-31
07667336
2021-11-01
2022-10-31
07667336
2022-10-31
07667336
2021-10-31
07667336
core:PlantMachinery
2022-11-01
2023-10-31
07667336
core:FurnitureFittings
2022-11-01
2023-10-31
07667336
core:NetGoodwill
2022-11-01
2023-10-31
07667336
bus:OrdinaryShareClass1
2022-11-01
2023-10-31
07667336
bus:OrdinaryShareClass2
2022-11-01
2023-10-31
07667336
bus:OrdinaryShareClass3
2022-11-01
2023-10-31
07667336
bus:Director2
2022-11-01
2023-10-31
07667336
core:WithinOneYear
2023-10-31
07667336
core:WithinOneYear
2022-10-31
07667336
core:AfterOneYear
2023-10-31
07667336
core:AfterOneYear
2022-10-31
07667336
core:ShareCapital
2023-10-31
07667336
core:ShareCapital
2022-10-31
07667336
core:SharePremium
2023-10-31
07667336
core:SharePremium
2022-10-31
07667336
core:RetainedEarningsAccumulatedLosses
2023-10-31
07667336
core:RetainedEarningsAccumulatedLosses
2022-10-31
07667336
core:BetweenOneFiveYears
2023-10-31
07667336
core:BetweenOneFiveYears
2022-10-31
07667336
core:MoreThanFiveYears
2023-10-31
07667336
bus:SmallEntities
2022-11-01
2023-10-31
07667336
bus:AuditExemptWithAccountantsReport
2022-11-01
2023-10-31
07667336
bus:SmallCompaniesRegimeForAccounts
2022-11-01
2023-10-31
07667336
bus:PrivateLimitedCompanyLtd
2022-11-01
2023-10-31
07667336
bus:AbridgedAccounts
2022-11-01
2023-10-31
07667336
bus:OrdinaryShareClass1
2023-10-31
07667336
bus:OrdinaryShareClass1
2022-10-31
07667336
bus:OrdinaryShareClass2
2023-10-31
07667336
bus:OrdinaryShareClass2
2022-10-31
07667336
bus:OrdinaryShareClass3
2023-10-31
07667336
bus:OrdinaryShareClass3
2022-10-31
07667336
bus:AllOrdinaryShares
2023-10-31
07667336
bus:AllOrdinaryShares
2022-10-31
07667336
core:FurnitureFittingsToolsEquipment
2022-11-01
2023-10-31
COMPANY REGISTRATION NUMBER:
07667336
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year Ended 31 October 2023
Abridged statement of financial position |
1 to 2 |
|
|
Notes to the abridged financial statements |
3 to 7 |
|
|
Abridged Statement of Financial Position |
|
31 October 2023
Fixed Assets
Intangible assets |
5 |
|
– |
4,049 |
Tangible assets |
6 |
|
1,248,302 |
1,234,548 |
|
|
------------ |
------------ |
|
|
1,248,302 |
1,238,597 |
|
|
|
|
|
Current Assets
Stocks |
3,707 |
|
3,897 |
Debtors |
178,661 |
|
241,988 |
Cash at bank and in hand |
75,645 |
|
47,061 |
|
--------- |
|
--------- |
|
258,013 |
|
292,946 |
|
|
|
|
Creditors: amounts falling due within one year |
314,285 |
|
299,347 |
|
--------- |
|
--------- |
Net Current Liabilities |
|
56,272 |
6,401 |
|
|
------------ |
------------ |
Total Assets Less Current Liabilities |
|
1,192,030 |
1,232,196 |
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
976,753 |
1,025,726 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
1,275 |
1,502 |
|
|
------------ |
------------ |
Net Assets |
|
214,002 |
204,968 |
|
|
------------ |
------------ |
|
|
|
|
Capital and Reserves
Called up share capital |
9 |
|
5,900 |
5,900 |
Share premium account |
|
12,100 |
12,100 |
Profit and loss account |
|
196,002 |
186,968 |
|
|
--------- |
--------- |
Shareholders Funds |
|
214,002 |
204,968 |
|
|
--------- |
--------- |
|
|
|
|
|
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 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 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 director acknowledges his 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 October 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 October 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
29 July 2024
, and are signed on behalf of the board by:
C L Hostombe-Daniels |
|
Director |
|
|
|
Company registration number:
07667336
Notes to the Abridged Financial Statements |
|
Year Ended 31 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 42 Waynflete Street, London, SW18 3QE.
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.
Revenue recognition
The turnover shown in the income statement represents residents fees earned during the year.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
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 years 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:
|
Plant & Machinery |
- |
15% reducing balance |
|
Fixtures & Fittings |
- |
15% reducing balance |
|
Equipment |
- |
15% reducing balance |
|
|
|
|
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. Freehold property is not depreciated on the grounds that the depreciation charge and accumulated depreciation would be immaterial. This is due to the company having a policy and practice of regular maintenance and repair resulting in a high residual value. Maintenance and repair charges are recognised in the profit and loss account.
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.
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 abridged 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.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
44
(2022:
48
).
5.
Intangible assets
|
£ |
Cost |
|
At 1 November 2022 and 31 October 2023 |
660,998 |
|
--------- |
Amortisation |
|
At 1 November 2022 |
656,949 |
Charge for the year |
4,049 |
|
--------- |
At 31 October 2023 |
660,998 |
|
--------- |
Carrying amount |
|
At 31 October 2023 |
– |
|
--------- |
At 31 October 2022 |
4,049 |
|
--------- |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 November 2022 |
1,344,774 |
Additions |
26,763 |
Disposals |
(
4,462) |
|
------------ |
At 31 October 2023 |
1,367,075 |
|
------------ |
Depreciation |
|
At 1 November 2022 |
110,226 |
Charge for the year |
11,387 |
Disposals |
(
2,840) |
|
------------ |
At 31 October 2023 |
118,773 |
|
------------ |
Carrying amount |
|
At 31 October 2023 |
1,248,302 |
|
------------ |
At 31 October 2022 |
1,234,548 |
|
------------ |
|
|
7.
Creditors:
amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £783,801 (2022: £826,955) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
8.
Secured liabilities
The aggregate amount of secured liabilities, secured on the assets of the company at the year end were £1,014,594 (2022: £1,052,299)
9.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary A shares of £ 1 each |
4,500 |
4,500 |
4,500 |
4,500 |
Ordinary B shares of £ 1 each |
500 |
500 |
500 |
500 |
Ordinary C shares of £ 1 each |
900 |
900 |
900 |
900 |
|
------- |
------- |
------- |
------- |
|
5,900 |
5,900 |
5,900 |
5,900 |
|
------- |
------- |
------- |
------- |
|
|
|
|
|
On 21 July 2022 900 Ordinary £1 shares were issued at market value
.
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
9,305 |
1,670 |
Later than 1 year and not later than 5 years |
32,071 |
2,923 |
Later than 5 years |
15,270 |
– |
|
-------- |
------- |
|
56,646 |
4,593 |
|
-------- |
------- |
|
|
|
11.
Director's advances, credits and guarantees
At the year end the company had an outstanding loan with the director as follows
:
|
|
C L Hostombe-Daniels |
|
|
£ |
|
Balance brought forward |
133,236 |
|
Advances |
89,036 |
|
Credits |
(148,566) |
|
Balance carried forward |
73,706 |
|
|
|