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No description of principal activity
2022-09-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
05895237
2022-09-01
2023-08-31
05895237
2023-08-31
05895237
2022-08-31
05895237
2021-09-01
2022-08-31
05895237
2022-08-31
05895237
2021-08-31
05895237
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-09-01
2023-08-31
05895237
core:PlantMachinery
2022-09-01
2023-08-31
05895237
core:FurnitureFittings
2022-09-01
2023-08-31
05895237
core:MotorVehicles
2022-09-01
2023-08-31
05895237
bus:OrdinaryShareClass1
2022-09-01
2023-08-31
05895237
bus:Director1
2022-09-01
2023-08-31
05895237
core:WithinOneYear
2023-08-31
05895237
core:WithinOneYear
2022-08-31
05895237
core:AfterOneYear
2023-08-31
05895237
core:AfterOneYear
2022-08-31
05895237
core:ShareCapital
2023-08-31
05895237
core:ShareCapital
2022-08-31
05895237
core:RetainedEarningsAccumulatedLosses
2023-08-31
05895237
core:RetainedEarningsAccumulatedLosses
2022-08-31
05895237
bus:SmallEntities
2022-09-01
2023-08-31
05895237
bus:AuditExemptWithAccountantsReport
2022-09-01
2023-08-31
05895237
bus:SmallCompaniesRegimeForAccounts
2022-09-01
2023-08-31
05895237
bus:PrivateLimitedCompanyLtd
2022-09-01
2023-08-31
05895237
bus:AbridgedAccounts
2022-09-01
2023-08-31
05895237
bus:OrdinaryShareClass1
2023-08-31
05895237
bus:OrdinaryShareClass1
2022-08-31
COMPANY REGISTRATION NUMBER:
05895237
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year Ended 31 August 2023
Abridged statement of financial position |
1 |
|
|
Notes to the abridged financial statements |
3 |
|
|
Abridged Statement of Financial Position |
|
31 August 2023
Fixed Assets
Tangible assets |
5 |
|
115,608 |
126,124 |
|
|
|
|
|
Current Assets
Stocks |
1,000 |
|
1,000 |
Debtors |
6 |
3,423,107 |
|
4,231,935 |
Cash at bank and in hand |
3,354,596 |
|
2,453,866 |
|
------------ |
|
------------ |
|
6,778,703 |
|
6,686,801 |
|
|
|
|
|
Creditors: amounts falling due within one year |
542,054 |
|
679,501 |
|
------------ |
|
------------ |
Net Current Assets |
|
6,236,649 |
6,007,300 |
|
|
------------ |
------------ |
Total Assets Less Current Liabilities |
|
6,352,257 |
6,133,424 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
142,947 |
274,718 |
|
|
|
|
Provisions
Taxation including deferred tax |
|
(
9,596) |
(
38,988) |
|
|
------------ |
------------ |
Net Assets |
|
6,218,906 |
5,897,694 |
|
|
------------ |
------------ |
|
|
|
|
Capital and Reserves
Called up share capital |
7 |
|
100 |
100 |
Profit and loss account |
|
6,218,806 |
5,897,594 |
|
|
------------ |
------------ |
Shareholders Funds |
|
6,218,906 |
5,897,694 |
|
|
------------ |
------------ |
|
|
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 31 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 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
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
31 August 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
7 August 2024
, and are signed on behalf of the board by:
Company registration number:
05895237
Notes to the Abridged Financial Statements |
|
Year Ended 31 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 and the company's place of business is Unit 1a Midland Court, Midland Way, Barlborough, Derbyshire, S43 4UL.
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
The turnover shown in the profit and loss account represents amounts earned during the year, exclusive of Value Added Tax.
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.
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:
|
Freehold property |
- |
2% straight line |
|
Plant & machinery |
- |
20% reducing balance |
|
Fixtures & fittings |
- |
20% reducing balance |
|
Motor vehciles |
- |
20% reducing balance |
|
|
|
|
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 and the performance model.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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
9
(2022:
8
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 September 2022 |
187,047 |
Additions |
379 |
Disposals |
(
532) |
|
--------- |
At 31 August 2023 |
186,894 |
|
--------- |
Depreciation |
|
At 1 September 2022 |
60,923 |
Charge for the year |
10,719 |
Disposals |
(
356) |
|
--------- |
At 31 August 2023 |
71,286 |
|
--------- |
Carrying amount |
|
At 31 August 2023 |
115,608 |
|
--------- |
At 31 August 2022 |
126,124 |
|
--------- |
|
|
6.
Debtors
Debtors include amounts of £2,812,270 (2022: £3,501,449) falling due after more than one year.
7.
Called up share capital
Authorised share capital
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
8.
Directors' advances, credits and guarantees
There are no director's advances, credits or guarantees requiring disclosure.