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No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
635
635
25,000
25,000
25,000
xbrli:pure
xbrli:shares
iso4217:GBP
2101559
2023-05-01
2024-04-30
2101559
2024-04-30
2101559
2023-04-30
2101559
2022-05-01
2023-04-30
2101559
2023-04-30
2101559
2022-04-30
2101559
bus:OrdinaryShareClass1
2023-05-01
2024-04-30
2101559
bus:Director2
2023-05-01
2024-04-30
2101559
core:WithinOneYear
2024-04-30
2101559
core:WithinOneYear
2023-04-30
2101559
core:ShareCapital
2024-04-30
2101559
core:ShareCapital
2023-04-30
2101559
core:RetainedEarningsAccumulatedLosses
2024-04-30
2101559
core:RetainedEarningsAccumulatedLosses
2023-04-30
2101559
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-04-30
2101559
core:CostValuation
core:Non-currentFinancialInstruments
2024-04-30
2101559
core:Non-currentFinancialInstruments
2024-04-30
2101559
bus:SmallEntities
2023-05-01
2024-04-30
2101559
bus:AuditExemptWithAccountantsReport
2023-05-01
2024-04-30
2101559
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
2101559
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
2101559
bus:FullAccounts
2023-05-01
2024-04-30
2101559
bus:OrdinaryShareClass1
2024-04-30
2101559
bus:OrdinaryShareClass1
2023-04-30
2101559
core:ComputerEquipment
2023-05-01
2024-04-30
2101559
core:ComputerEquipment
2024-04-30
COMPANY REGISTRATION NUMBER:
2101559
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 April 2024
Fixed assets
Current assets
Stocks |
525 |
|
525 |
Debtors |
6 |
52 |
|
53 |
Cash at bank and in hand |
29,300 |
|
59,894 |
|
-------- |
|
-------- |
|
29,877 |
|
60,472 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
11,744) |
|
(
11,925) |
|
-------- |
|
-------- |
Net current assets |
|
18,133 |
48,547 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
43,133 |
48,547 |
|
|
-------- |
-------- |
|
|
|
|
|
Statement of Financial Position (continued) |
|
30 April 2024
Capital and reserves
Called up share capital |
8 |
|
100 |
100 |
Profit and loss account |
|
43,033 |
48,447 |
|
|
-------- |
-------- |
Shareholders funds |
|
43,133 |
48,547 |
|
|
-------- |
-------- |
|
|
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 30 April 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 year 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
.
These Financial Statements were approved by the
board of directors
and authorised for issue on
18 August 2024
, and are signed on behalf of the board by:
Company registration number:
2101559
Notes to the Financial Statements |
|
Year ended 30 April 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 56 Lindsay Drive, Harrow, Middlesex, HA30TD.
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, 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.
Taxation
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable. Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences although with certain exceptions. Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recoverable 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment property (and other non-depreciable tangible fixed assets) is measured using the tax rates and allowances which will apply to the sale of the asset. Amounts of current and deferred tax are generally recognised in profit or loss, except when they relate to items which are recognised in in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive or equity as the case may be.
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:
|
Equipment |
- |
25% reducing balance |
|
|
|
|
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.
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 company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 May 2023 and 30 April 2024 |
635 |
635 |
|
---- |
---- |
Depreciation |
|
|
At 1 May 2023 and 30 April 2024 |
635 |
635 |
|
---- |
---- |
Carrying amount |
|
|
At 30 April 2024 |
– |
– |
|
---- |
---- |
At 30 April 2023 |
– |
– |
|
---- |
---- |
|
|
|
5.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 May 2023 |
– |
Additions |
25,000 |
|
-------- |
At 30 April 2024 |
25,000 |
|
-------- |
Impairment |
|
At 1 May 2023 and 30 April 2024 |
– |
|
-------- |
|
|
Carrying amount |
|
At 30 April 2024 |
25,000 |
|
-------- |
At 30 April 2023 |
– |
|
-------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
52 |
53 |
|
---- |
---- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
6,860 |
7,054 |
Director loan accounts |
4,884 |
4,871 |
|
-------- |
-------- |
|
11,744 |
11,925 |
|
-------- |
-------- |
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
9.
Associated company
Knightel Limited
has two associated companies, Jainil Limited and Dawnlight Limited, companies in which Mr Kalpesh Shah
owns 100% of the issued share capital