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No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2023 - FRS102_2023
232,953
3,163
1,947
234,169
234,169
232,953
xbrli:pure
xbrli:shares
iso4217:GBP
03802087
2022-12-01
2023-11-30
03802087
2023-11-30
03802087
2022-11-30
03802087
2021-12-01
2022-11-30
03802087
2022-11-30
03802087
2021-11-30
03802087
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-12-01
2023-11-30
03802087
core:PlantMachinery
2022-12-01
2023-11-30
03802087
bus:Director1
2022-12-01
2023-11-30
03802087
core:WithinOneYear
2023-11-30
03802087
core:WithinOneYear
2022-11-30
03802087
core:AfterOneYear
2023-11-30
03802087
core:AfterOneYear
2022-11-30
03802087
core:ShareCapital
2023-11-30
03802087
core:ShareCapital
2022-11-30
03802087
core:RetainedEarningsAccumulatedLosses
2023-11-30
03802087
core:RetainedEarningsAccumulatedLosses
2022-11-30
03802087
core:CostValuation
core:Non-currentFinancialInstruments
2022-11-30
03802087
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-11-30
03802087
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2023-11-30
03802087
core:CostValuation
core:Non-currentFinancialInstruments
2023-11-30
03802087
core:Non-currentFinancialInstruments
2023-11-30
03802087
core:Non-currentFinancialInstruments
2022-11-30
03802087
bus:SmallEntities
2022-12-01
2023-11-30
03802087
bus:AuditExempt-NoAccountantsReport
2022-12-01
2023-11-30
03802087
bus:SmallCompaniesRegimeForAccounts
2022-12-01
2023-11-30
03802087
bus:PrivateLimitedCompanyLtd
2022-12-01
2023-11-30
03802087
bus:AbridgedAccounts
2022-12-01
2023-11-30
COMPANY REGISTRATION NUMBER:
03802087
FILLETED UNAUDITED ABRIDGED FINANCIAL STATEMENTS |
|
ABRIDGED STATEMENT OF FINANCIAL POSITION |
|
30 November 2023
FIXED ASSETS
Tangible assets |
4 |
|
4,349,681 |
|
3,285,467 |
Investments |
5 |
|
234,169 |
|
232,953 |
|
|
------------- |
|
------------- |
|
|
4,583,850 |
|
3,518,420 |
|
|
|
|
|
|
CURRENT ASSETS
Debtors |
3,823 |
|
118,658 |
|
Cash at bank and in hand |
909,296 |
|
466,691 |
|
|
---------- |
|
---------- |
|
|
913,119 |
|
585,349 |
|
|
|
|
|
|
CREDITORS: amounts falling due within one year |
4,345,094 |
|
3,206,219 |
|
|
------------- |
|
------------- |
|
NET CURRENT LIABILITIES |
|
3,431,975 |
|
2,620,870 |
|
|
------------- |
|
------------- |
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
1,151,875 |
|
897,550 |
|
|
|
|
|
CREDITORS: amounts falling due after more than one year |
|
784,285 |
|
785,072 |
|
|
|
|
|
PROVISIONS |
|
933 |
|
1,014 |
|
|
------------- |
|
---------- |
NET ASSETS |
|
366,657 |
|
111,464 |
|
|
------------- |
|
---------- |
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital |
|
10 |
|
10 |
Profit and loss account |
|
366,647 |
|
111,454 |
|
|
---------- |
|
---------- |
SHAREHOLDERS FUNDS |
|
366,657 |
|
111,464 |
|
|
---------- |
|
---------- |
|
|
|
|
|
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.
ABRIDGED STATEMENT OF FINANCIAL POSITION (continued) |
|
30 November 2023
For the year ending 30 November 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 30 November 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
23 August 2024
, and are signed on behalf of the board by:
Company registration number:
03802087
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS |
|
YEAR ENDED 30 NOVEMBER 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 1 Derby Road, Eastwood, Nottingham, NG16 3PA.
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
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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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. 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:
|
Freehold Property |
- |
2% reducing balance |
|
Fixtures |
- |
20% reducing balance |
|
|
|
|
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are 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.
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.
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.
4.
Tangible assets
|
£ |
Cost |
|
At 1 December 2022 |
3,653,818 |
Additions |
1,839,897 |
Disposals |
(
817,879) |
|
------------- |
At 30 November 2023 |
4,675,836 |
|
------------- |
Depreciation |
|
At 1 December 2022 |
368,351 |
Charge for the year |
92,089 |
Disposals |
(
134,285) |
|
------------- |
At 30 November 2023 |
326,155 |
|
------------- |
Carrying amount |
|
At 30 November 2023 |
4,349,681 |
|
------------- |
At 30 November 2022 |
3,285,467 |
|
------------- |
|
|
The investment properties were reviewed on 30 November 2022 and the Directors are of the opinion that the market value of the properties are not materially different to the original cost and so no adjustment to fair value is required. No independent valuation was sought.
5.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 December 2022 |
232,953 |
Additions |
3,163 |
Disposals |
(
1,947) |
|
---------- |
At 30 November 2023 |
234,169 |
|
---------- |
Impairment |
|
At 1 December 2022 and 30 November 2023 |
– |
|
---------- |
|
|
Carrying amount |
|
At 30 November 2023 |
234,169 |
|
---------- |
At 30 November 2022 |
232,953 |
|
---------- |
|
|
6.
Directors' advances, credits and guarantees
There within creditors is an amount owed to the directors of £42 (2022: Dr £106,165). The loan is interest free, unsecured and repayable on demand.