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No description of principal activity
2022-11-01
Sage Accounts Production Advanced 2023 - FRS102_2023
10,000
9,999
1
1
6,025
499
6,524
3,635
885
4,520
2,004
2,390
xbrli:pure
xbrli:shares
iso4217:GBP
10982496
2022-11-01
2023-10-31
10982496
2023-10-31
10982496
2022-10-31
10982496
2021-11-01
2022-10-31
10982496
2022-10-31
10982496
2021-10-31
10982496
core:NetGoodwill
2022-11-01
2023-10-31
10982496
bus:Director1
2022-11-01
2023-10-31
10982496
core:NetGoodwill
2023-10-31
10982496
core:WithinOneYear
2023-10-31
10982496
core:WithinOneYear
2022-10-31
10982496
core:ShareCapital
2023-10-31
10982496
core:ShareCapital
2022-10-31
10982496
core:RetainedEarningsAccumulatedLosses
2023-10-31
10982496
core:RetainedEarningsAccumulatedLosses
2022-10-31
10982496
core:NetGoodwill
2022-10-31
10982496
bus:SmallEntities
2022-11-01
2023-10-31
10982496
bus:AuditExemptWithAccountantsReport
2022-11-01
2023-10-31
10982496
bus:SmallCompaniesRegimeForAccounts
2022-11-01
2023-10-31
10982496
bus:PrivateLimitedCompanyLtd
2022-11-01
2023-10-31
10982496
bus:FullAccounts
2022-11-01
2023-10-31
10982496
core:FurnitureFittingsToolsEquipment
2022-11-01
2023-10-31
10982496
core:FurnitureFittingsToolsEquipment
2022-10-31
10982496
core:FurnitureFittingsToolsEquipment
2023-10-31
COMPANY REGISTRATION NUMBER:
10982496
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 OCTOBER 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
STATEMENT OF FINANCIAL POSITION |
|
31 October 2023
FIXED ASSETS
Intangible assets |
4 |
|
1 |
|
1 |
Tangible assets |
5 |
|
2,004 |
|
2,390 |
|
|
------- |
|
------- |
|
|
2,005 |
|
2,391 |
|
|
|
|
|
|
CURRENT ASSETS
Debtors |
6 |
2,512 |
|
2,717 |
|
Cash at bank and in hand |
30,591 |
|
24,256 |
|
|
--------- |
|
--------- |
|
|
33,103 |
|
26,973 |
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
7 |
12,489 |
|
15,945 |
|
|
--------- |
|
--------- |
|
NET CURRENT ASSETS |
|
20,614 |
|
11,028 |
|
|
--------- |
|
--------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
22,619 |
|
13,419 |
|
|
|
|
|
|
PROVISIONS |
|
380 |
|
455 |
|
|
--------- |
|
--------- |
NET ASSETS |
|
22,239 |
|
12,964 |
|
|
--------- |
|
--------- |
|
|
|
|
|
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 October 2023
CAPITAL AND RESERVES
Called up share capital |
|
100 |
|
100 |
Profit and loss account |
|
22,139 |
|
12,864 |
|
|
--------- |
|
--------- |
SHAREHOLDER FUNDS |
|
22,239 |
|
12,964 |
|
|
--------- |
|
--------- |
|
|
|
|
|
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 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
22 July 2024
, and are signed on behalf of the board by:
Company registration number:
10982496
NOTES TO THE 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 Equitable House, 55 Pellon Lsne, Halifax, West Yorkshire, HX1 5SP.
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.
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. There are not considered to be any judgements or accounting estimates or assumptions that have a significant impact on the financial statements.
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.
Current and deferred 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.
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:
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:
|
Equipment |
- |
33% 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.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
4.
INTANGIBLE ASSETS
|
Goodwill |
|
£ |
Cost |
|
At 1 November 2022 and 31 October 2023 |
10,000 |
|
--------- |
Amortisation |
|
At 1 November 2022 and 31 October 2023 |
9,999 |
|
--------- |
Carrying amount |
|
At 31 October 2023 |
1 |
|
--------- |
At 31 October 2022 |
1 |
|
--------- |
|
|
5.
TANGIBLE ASSETS
|
Equipment |
|
£ |
Cost |
|
At 1 November 2022 |
6,025 |
Additions |
499 |
|
------- |
At 31 October 2023 |
6,524 |
|
------- |
Depreciation |
|
At 1 November 2022 |
3,635 |
Charge for the year |
885 |
|
------- |
At 31 October 2023 |
4,520 |
|
------- |
Carrying amount |
|
At 31 October 2023 |
2,004 |
|
------- |
At 31 October 2022 |
2,390 |
|
------- |
|
|
6.
DEBTORS
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
1,301 |
1,353 |
Other debtors |
1,211 |
1,364 |
|
------- |
------- |
|
2,512 |
2,717 |
|
------- |
------- |
|
|
|
7.
CREDITORS:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Corporation tax |
6,492 |
10,044 |
Other creditors |
5,200 |
5,200 |
Other creditors |
797 |
701 |
|
--------- |
--------- |
|
12,489 |
15,945 |
|
--------- |
--------- |
|
|
|
8.
DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The directors loan account was in credit throughout the year. The loan is repayable on demand and no interest is charged.