28
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-12-19
Sage Accounts Production Advanced 2023 - FRS102_2023
9,998
9,998
2,000
2,000
7,998
174,486
174,486
43,622
43,622
130,864
xbrli:pure
xbrli:shares
iso4217:GBP
14548676
2022-12-19
2024-01-31
14548676
2024-01-31
14548676
2022-12-18
14548676
core:NetGoodwill
2022-12-19
2024-01-31
14548676
core:MotorVehicles
2022-12-19
2024-01-31
14548676
bus:Director1
2022-12-19
2024-01-31
14548676
bus:Director2
2022-12-19
2024-01-31
14548676
core:NetGoodwill
2024-01-31
14548676
core:MotorVehicles
2024-01-31
14548676
core:WithinOneYear
2024-01-31
14548676
core:AfterOneYear
2024-01-31
14548676
core:ShareCapital
2024-01-31
14548676
core:RetainedEarningsAccumulatedLosses
2024-01-31
14548676
bus:SmallEntities
2022-12-19
2024-01-31
14548676
bus:AuditExempt-NoAccountantsReport
2022-12-19
2024-01-31
14548676
bus:SmallCompaniesRegimeForAccounts
2022-12-19
2024-01-31
14548676
bus:PrivateLimitedCompanyLtd
2022-12-19
2024-01-31
14548676
bus:FullAccounts
2022-12-19
2024-01-31
COMPANY REGISTRATION NUMBER:
14548676
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 January 2024
Fixed assets
Intangible assets |
5 |
7,998 |
Tangible assets |
6 |
130,864 |
|
--------- |
|
138,862 |
|
|
|
Current assets
Stocks |
205,134 |
Debtors |
7 |
469,685 |
Cash at bank and in hand |
29,879 |
|
--------- |
|
704,698 |
|
|
|
Creditors: amounts falling due within one year |
8 |
696,566 |
|
--------- |
Net current assets |
8,132 |
|
--------- |
Total assets less current liabilities |
146,994 |
|
|
|
Creditors: amounts falling due after more than one year |
9 |
79,694 |
|
--------- |
Net assets |
67,300 |
|
--------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
Profit and loss account |
67,200 |
|
-------- |
Shareholders funds |
67,300 |
|
-------- |
|
|
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 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.
Directors' 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 directors acknowledge their 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
9 September 2024
, and are signed on behalf of the board by:
Mr L Herridge |
Mrs S Herridge |
Director |
Director |
|
|
Company registration number:
14548676
Notes to the Financial Statements |
|
Period from 19 December 2022 to 31 January 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 Crown Chambers, 7 Market Place, Melksham, Wiltshire, SN12 6ES.
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.
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
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. At the year end no such indicators were considered to exist.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
28
.
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
Additions |
9,998 |
|
------- |
At 31 January 2024 |
9,998 |
|
------- |
Amortisation |
|
Charge for the period |
2,000 |
|
------- |
At 31 January 2024 |
2,000 |
|
------- |
Carrying amount |
|
At 31 January 2024 |
7,998 |
|
------- |
|
|
6.
Tangible assets
|
Motor vehicles |
|
£ |
Cost |
|
At 19 December 2022 |
– |
Additions |
174,486 |
|
--------- |
At 31 January 2024 |
174,486 |
|
--------- |
Depreciation |
|
At 19 December 2022 |
– |
Charge for the period |
43,622 |
|
--------- |
At 31 January 2024 |
43,622 |
|
--------- |
Carrying amount |
|
At 31 January 2024 |
130,864 |
|
--------- |
|
|
7.
Debtors
|
31 Jan 24 |
|
£ |
Trade debtors |
456,442 |
Other debtors |
13,243 |
|
--------- |
|
469,685 |
|
--------- |
|
|
8.
Creditors:
amounts falling due within one year
|
31 Jan 24 |
|
£ |
Bank loans and overdrafts |
438,106 |
Trade creditors |
93,217 |
Corporation tax |
10,270 |
Social security and other taxes |
134,942 |
Other creditors |
20,031 |
|
--------- |
|
696,566 |
|
--------- |
|
|
9.
Creditors:
amounts falling due after more than one year
|
31 Jan 24 |
|
£ |
Bank loans and overdrafts |
79,694 |
|
-------- |
|
|