COMPANY REGISTRATION NUMBER:
14607983
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 January 2024
Fixed assets
Tangible assets |
5 |
|
22,736 |
Investments |
6 |
|
100 |
|
|
-------- |
|
|
22,836 |
|
|
|
|
Current assets
Creditors: amounts falling due within one year |
8 |
76,583 |
|
|
-------- |
|
Net current liabilities |
|
31,356 |
|
|
-------- |
Total assets less current liabilities |
|
(
8,520) |
|
|
------- |
Net liabilities |
|
(
8,520) |
|
|
------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
Profit and loss account |
|
(
8,620) |
|
|
------- |
Shareholders deficit |
|
(
8,520) |
|
|
------- |
|
|
|
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 comprehensive income has not been delivered.
For the period ending 31 January 2024 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 financial statements for the period 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
.
Statement of Financial Position (continued) |
|
31 January 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 August 2024
, and are signed on behalf of the board by:
Company registration number:
14607983
Notes to the Financial Statements |
|
Period from 20 January 2023 to 31 January 2024
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company made a loss during the period amounting to £8,620. After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company also has the support of its director. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
.
5.
Tangible assets
|
Short leasehold property |
|
£ |
Cost |
|
At 20 January 2023 |
– |
Additions |
22,736 |
|
-------- |
At 31 January 2024 |
22,736 |
|
-------- |
Depreciation |
|
At 20 January 2023 and 31 January 2024 |
– |
|
-------- |
Carrying amount |
|
At 31 January 2024 |
22,736 |
|
-------- |
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 20 January 2023 |
– |
Additions |
100 |
|
---- |
At 31 January 2024 |
100 |
|
---- |
Impairment |
|
At 20 January 2023 and 31 January 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 January 2024 |
100 |
|
---- |
|
|
7.
Debtors
|
31 Jan 24 |
|
£ |
Other debtors |
45,227 |
|
-------- |
|
|
8.
Creditors:
amounts falling due within one year
|
31 Jan 24 |
|
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
74,083 |
Other creditors |
2,500 |
|
-------- |
|
76,583 |
|
-------- |
|
|