Registration number:
Anything But Standard Group Limited
for the Year Ended 31 December 2023
Anything But Standard Group Limited
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Anything But Standard Group Limited
Company Information
Director |
D J Wood |
Registered office |
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Accountants |
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Anything But Standard Group Limited
(Registration number: 08736317)
Abridged Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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- |
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Investments |
- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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- |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
402 |
402 |
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Share premium reserve |
33,940 |
33,940 |
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Retained earnings |
(325,428) |
(9,268) |
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Shareholders' (deficit)/funds |
(291,086) |
25,074 |
For the financial 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.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.
Approved and authorised by the
Anything But Standard Group Limited
(Registration number: 08736317)
Abridged Balance Sheet as at 31 December 2023
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Anything But Standard Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
During the period under review, a trading subsidiary, Standard Social Limited, ceased to trade and subsequent to the year end the director placed the other trading subsidiary, North Street Standard Limited in to liquidation. Whilst both companies suffered significantly from the effect of the covid restrictions and its impact on revenue and profits, there was a hope that there would be a return to profit. North Street Standard Limited had been trading reasonably profitably and the future intention is to operate the trade through Anything But Standard Group Ltd.
As a result amounts owed from these subsidiaries which have arsien through intercompany transactions have been written off/provided against leading to a significant deficit on reserves.
The director, given the continuing availability of funding from its bankers is confident of a profitable enterprise and on this basis believes that the going concern basis is appropriate.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Anything But Standard Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Motor vehicles |
25% reducing balance |
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Anything But Standard Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Anything But Standard Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
Tangible assets |
Motor vehicles |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2023 |
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Depreciation |
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Charge for the year |
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At 31 December 2023 |
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Carrying amount |
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At 31 December 2023 |
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Investments |
Total |
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Cost or valuation |
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At 1 January 2023 |
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Revaluation |
( |
At 31 December 2023 |
- |
Provision |
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Carrying amount |
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At 31 December 2023 |
- |
At 31 December 2022 |
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2023 |
2022 |
Subsidiaries |
£ |
Fair value |
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At 1 January 2023 |
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Fair value adjustments |
( |
At 31 December 2023 |
- |
In the opinion of the directors, the fair value of the investments do not materially differ from the net book value at the balance sheet.
Anything But Standard Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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Office 1 The Coach House,24-26 Station Road, Shirehampton, Bristol, BS11 9TX |
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35 Gloucester Rd Gloucester Road, Bishopston, Bristol, BS7 8AD |
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Office 1 The Coach House, 24-26 Station Road, Shirehampton, Bristol, BS11 9TX |
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Subsidiary undertakings |
The Urban Standard Limited The principal activity of The Urban Standard Limited is |
North Street Standard Limited The principal activity of North Street Standard Limited is |
Standard Social Limited The principal activity of Standard Social Limited is |
Debtors |
Debtors includes £Nil (2022 - £Nil) due after more than one year.
Creditors: amounts falling due within one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £38,757 (2022 - £35,080.
Creditors: amounts falling due after more than one year |
Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £357,768 (2022 - £384,915).
Anything But Standard Group Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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400 |
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400 |
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2 |
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2 |
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Dividends |
Interim dividends paid
2023 |
2022 |
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Interim dividend of £Nil per each |
- |
- |
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Parent and ultimate parent undertaking |
The company's immediate parent is
The ultimate controlling party is