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COMPANY REGISTRATION NUMBER: SC316881
Buchley Eco Centre Limited
Filleted Unaudited Financial Statements
31 December 2023
Buchley Eco Centre Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Investments
6
50
50
Current assets
Debtors
7
111,021
170,476
Cash at bank and in hand
99,774
133,717
---------
---------
210,795
304,193
Creditors: amounts falling due within one year
8
221,446
314,866
---------
---------
Net current liabilities
10,651
10,673
--------
--------
Total assets less current liabilities
( 10,601)
( 10,623)
--------
--------
Net liabilities
( 10,601)
( 10,623)
--------
--------
Capital and reserves
Called up share capital
97
97
Profit and loss account
( 10,698)
( 10,720)
--------
--------
Shareholders deficit
( 10,601)
( 10,623)
--------
--------
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 31 December 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 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 financial statements .
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
U E Clive
Director
Company registration number: SC316881
Buchley Eco Centre Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in Scotland. The address of the registered office is 84 Belmont Lane, Glasgow, G12 8EN.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. Its financial statements are consolidated into the financial statements of The Coach House Trust available at Companies House. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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:
Plant and machinery
-
10% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% straight line
Equipment
-
25% straight line
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.
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 year amounted to 1 (2022: 1 ).
5. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 January 2023
195,154
9,938
3,126
208,218
Disposals
( 30,704)
( 1,493)
( 32,197)
---------
-------
-------
---------
At 31 December 2023
164,450
9,938
1,633
176,021
---------
-------
-------
---------
Depreciation
At 1 January 2023
195,154
9,938
3,126
208,218
Disposals
( 30,704)
( 1,493)
( 32,197)
---------
-------
-------
---------
At 31 December 2023
164,450
9,938
1,633
176,021
---------
-------
-------
---------
Carrying amount
At 31 December 2023
---------
-------
-------
---------
At 31 December 2022
---------
-------
-------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2023 and 31 December 2023
50
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
50
----
At 31 December 2022
50
----
7. Debtors
2023
2022
£
£
Trade debtors
40,952
98,688
Other debtors
70,069
71,788
---------
---------
111,021
170,476
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
63,093
116,890
Amounts owed to group undertakings and undertakings in which the company has a participating interest
156,277
195,205
Corporation tax
5
741
Social security and other taxes
471
431
Other creditors
1,600
1,599
---------
---------
221,446
314,866
---------
---------
9. Related party transactions
Buchley Eco Centre Limited is a wholly owned subsidiary and under the control of The Coach House Trust . During the year the company paid management charges of £ 55,500 (2022: £ 48,750 ) to The Coach House Trust , its 100% parent. Buchley Eco centre Limited also made gift aid donations of £70,000 (2022: £35,000) to The Coach House Trust . At the year end the company owed £ 156,277 (2022: £ 195,205 ) to The Coach House Trust . The Directors are considered to be key management personnel of the company. No other employees are considered to have authority or responsibility for directing and controlling the activities of the company.