65
13 August 2024
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
09511847
2023-01-01
2023-12-31
09511847
2023-12-31
09511847
2022-12-31
09511847
2022-01-01
2022-12-31
09511847
2022-12-31
09511847
2021-12-31
09511847
bus:Director4
2023-01-01
2023-12-31
09511847
bus:Director1
2023-01-01
2023-12-31
09511847
bus:Director2
2023-01-01
2023-12-31
09511847
core:WithinOneYear
2023-12-31
09511847
core:WithinOneYear
2022-12-31
09511847
core:AfterOneYear
2023-12-31
09511847
core:AfterOneYear
2022-12-31
09511847
core:ShareCapital
2023-12-31
09511847
core:ShareCapital
2022-12-31
09511847
core:RetainedEarningsAccumulatedLosses
2023-12-31
09511847
core:RetainedEarningsAccumulatedLosses
2022-12-31
09511847
core:BetweenOneFiveYears
2023-12-31
09511847
core:BetweenOneFiveYears
2022-12-31
09511847
core:MoreThanFiveYears
2022-12-31
09511847
bus:Director1
2021-12-31
09511847
bus:Director2
2021-12-31
09511847
bus:Director1
2022-01-01
2022-12-31
09511847
bus:Director2
2022-01-01
2022-12-31
09511847
bus:SmallEntities
2023-01-01
2023-12-31
09511847
bus:Audited
2023-01-01
2023-12-31
09511847
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
09511847
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
09511847
bus:AbridgedAccounts
2023-01-01
2023-12-31
09511847
core:LandBuildings
core:ShortLeaseholdAssets
2023-01-01
2023-12-31
09511847
core:PlantMachinery
2023-01-01
2023-12-31
09511847
core:FurnitureFittings
2023-01-01
2023-12-31
09511847
core:OfficeEquipment
2023-01-01
2023-12-31
COMPANY REGISTRATION NUMBER:
09511847
Filleted Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year ended 31 December 2023
Abridged statement of financial position |
1 |
|
|
Notes to the abridged financial statements |
3 |
|
|
Abridged Statement of Financial Position |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
102,130 |
157,189 |
|
|
|
|
Current assets
Debtors |
489,246 |
186,337 |
Cash at bank and in hand |
134,601 |
652,642 |
|
--------- |
--------- |
|
623,847 |
838,979 |
|
|
|
Creditors: amounts falling due within one year |
409,163 |
683,104 |
|
--------- |
--------- |
Net current assets |
214,684 |
155,875 |
|
--------- |
--------- |
Total assets less current liabilities |
316,814 |
313,064 |
|
|
|
Creditors: amounts falling due after more than one year |
19,068 |
29,065 |
|
|
|
Provisions |
17,537 |
35,675 |
|
--------- |
--------- |
Net assets |
280,209 |
248,324 |
|
--------- |
--------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
280,109 |
248,224 |
|
--------- |
--------- |
Shareholders funds |
280,209 |
248,324 |
|
--------- |
--------- |
|
|
|
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 statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
31 December 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
13 August 2024
, and are signed on behalf of the board by:
Company registration number:
09511847
Notes to the Abridged Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The company's registration number is
09511847
. is The address of the registered office is 11 Seven Dials, Sawclose, Bath, BA1 1EN.
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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
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:
|
Short leasehold property |
- |
7 years |
|
Plant and machinery |
- |
4 years |
|
Fixtures and fittings |
- |
4 years |
|
Equipment |
- |
3 years |
|
|
|
|
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
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
65
(2022:
65
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 January 2023 |
299,534 |
Additions |
8,167 |
Disposals |
(
167) |
|
--------- |
At 31 December 2023 |
307,534 |
|
--------- |
Depreciation |
|
At 1 January 2023 |
142,345 |
Charge for the year |
63,119 |
Disposals |
(
60) |
|
--------- |
At 31 December 2023 |
205,404 |
|
--------- |
Carrying amount |
|
At 31 December 2023 |
102,130 |
|
--------- |
At 31 December 2022 |
157,189 |
|
--------- |
|
|
6.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
181,526 |
121,017 |
Later than 1 year and not later than 5 years |
599,284 |
726,104 |
Later than 5 years |
– |
54,707 |
|
--------- |
--------- |
|
780,810 |
901,828 |
|
--------- |
--------- |
|
|
|
7.
Summary audit opinion
The auditor's report dated
13 August 2024
was
unqualified
.
The senior statutory auditor was
Mrs Caroline Jay
, for and on behalf of
Jay & Jay Partnership Limited
.
8.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
2023 |
|
|
Balance brought forward |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr J M Gower |
– |
– |
– |
|
Mr D P Maher Roberts |
– |
– |
– |
|
|
---- |
---- |
---- |
|
|
– |
– |
– |
|
|
---- |
---- |
---- |
|
|
|
|
|
|
2022 |
|
|
Balance brought forward |
Amounts repaid |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mr J M Gower |
374 |
(
374) |
– |
|
Mr D P Maher Roberts |
(
48) |
48 |
– |
|
|
---- |
---- |
---- |
|
|
326 |
(
326) |
– |
|
|
---- |
---- |
---- |
|
|
|
|
|
The directors' loans are interest free and repayable on demand.
9.
Controlling party
The company's ultimate parent undertaking is
Dialect Inc
whose registered office address is 533 Airport Blvd, Ste 400, Burlingame, CA 94010, USA.