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24 June 2024
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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
104,000
104,000
104,000
xbrli:pure
xbrli:shares
iso4217:GBP
01745996
2023-01-01
2023-12-31
01745996
2023-12-31
01745996
2022-12-31
01745996
2022-01-01
2022-12-31
01745996
2022-12-31
01745996
2021-12-31
01745996
bus:Director2
2023-01-01
2023-12-31
01745996
bus:Director10
2023-01-01
2023-12-31
01745996
core:WithinOneYear
2023-12-31
01745996
core:WithinOneYear
2022-12-31
01745996
core:ShareCapital
2023-12-31
01745996
core:ShareCapital
2022-12-31
01745996
core:SharePremium
2023-12-31
01745996
core:SharePremium
2022-12-31
01745996
core:RetainedEarningsAccumulatedLosses
2023-12-31
01745996
core:RetainedEarningsAccumulatedLosses
2022-12-31
01745996
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-12-31
01745996
core:LandBuildings
core:OwnedOrFreeholdAssets
2022-12-31
01745996
bus:SmallEntities
2023-01-01
2023-12-31
01745996
bus:Audited
2023-01-01
2023-12-31
01745996
bus:SmallCompaniesRegimeForAccounts
2023-01-01
2023-12-31
01745996
bus:PrivateLimitedCompanyLtd
2023-01-01
2023-12-31
01745996
bus:FullAccounts
2023-01-01
2023-12-31
COMPANY REGISTRATION NUMBER:
01745996
FILLETED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 December 2023
Fixed assets
Tangible assets |
3 |
|
104,000 |
104,000 |
|
|
|
|
|
Current assets
Creditors: amounts falling due within one year |
5 |
12,360 |
|
11,671 |
|
--------- |
|
--------- |
Net current assets |
|
14,084 |
11,144 |
|
|
---------- |
---------- |
Total assets less current liabilities |
|
118,084 |
115,144 |
|
|
---------- |
---------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
59 |
59 |
Share premium account |
|
97,940 |
97,940 |
Profit and loss account |
|
20,085 |
17,145 |
|
|
---------- |
---------- |
Shareholders funds |
|
118,084 |
115,144 |
|
|
---------- |
---------- |
|
|
|
|
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 income statement 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 financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
24 June 2024
, and are signed on behalf of the board by:
I M Clark |
A J Watkins |
Director |
Chairman |
|
|
Company registration number:
01745996
YEAR ENDED 31 DECEMBER 2023
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.
Contractual commitments
The company contracts with third parties in its own name for the supply of services to the property for maintenance of the common parts in accordance with the terms of the leases. At 31 December 2023 the company had not entered into any non-cancellable contractual commitments.
Going concern
No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors.
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.
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.
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.
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.
NOTES TO THE 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 address of the registered office is 4th Floor, 192-198 Vauxhall Bridge Road, London, SW1V 1DX, United Kingdom.
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.
Tangible assets
|
Freehold property |
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
104,000 |
|
---------- |
Depreciation |
|
At 1 January 2023 and 31 December 2023 |
– |
|
---------- |
Carrying amount |
|
At 31 December 2023 |
104,000 |
|
---------- |
At 31 December 2022 |
104,000 |
|
---------- |
|
|
4.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
105 |
– |
Other debtors |
26,339 |
22,815 |
|
--------- |
--------- |
|
26,444 |
22,815 |
|
--------- |
--------- |
|
|
|
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Corporation tax |
1,906 |
1,216 |
Other creditors - Legal fees contribution |
10,454 |
10,455 |
|
--------- |
--------- |
|
12,360 |
11,671 |
|
--------- |
--------- |
|
|
|
6.
Summary audit opinion
The auditor's report dated
24 June 2024
was
unqualified
.
The senior statutory auditor was
Charles Homan
, for and on behalf of
UHY Hacker Young (S.E.) Limited
.
7.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS 102. The lessees are the owners of the company and contribute to the service charge for the property in accordance with the proportions prescribed within their leases on an arms length basis. There is no ultimate controlling party.