for the Period Ended 30 April 2024
Company Information - 3 | |
Report of the Directors - 4 | |
Profit and Loss Account - 5 | |
Balance sheet - 6 | |
Additional notes - 8 | |
Balance sheet notes - 11 |
for the Period Ended 30 April 2024
Director: |
|
|
|
||
|
||
Registered office: |
|
|
Company Registration Number: |
|
|
The directors present their report with the financial statements of the company for the period ended 30 April 2024
Principal Activities
Political and charitable donations
Company policy on the employment of disabled persons
Additional information
Review of the Business Turnover increased with inflation to £37,500 (2022/23: £34,000). The Company’s trading operations made a profit for the year of £159 (2022/23: loss of £1,503). Taking account of interest received, the profit was £748 (2022/23: loss of £1,207). The Company continued to pay its debts promptly. Payment by creditors is between 30 and 60 days. Results and Dividends The Company has reported a profit for the year of £748. This increases Total Shareholders’ Funds on the Balance Sheet to £17,397, which the directors consider leaves the Company very well capitalised for its activities. The Accounts have been prepared using HMRC's online filing system. Versions of the Balance Sheet and the Profit and Loss Account prepared in accordance with previous years' format are appended after the Notes to the Financial Statements. They do not form part of the Financial Statements. Fixed Assets The Company paid for the construction of an office on land belonging to the executive directors which it occupied rent-free for a period of 15 years. This period ended on 31st December 2013. Details are shown on the balance sheet and the accompanying notes. Share and Loan Capital At 1st May 2023 the Company's authorised share capital was £10,000, comprising 100,000 10p irredeemable ordinary shares. There was no change during the year. The Company has no outstanding loan capital. Directors' Interests At 1st May 2023 Rosemary Simons owned 34,999 10p ordinary shares, being 50.0% of the issued share capital. Robert Simons owned 12,499 ordinary shares, being 17.9% of the issued share capital. Their children Andrew Simons, Elizabeth Roberts and Victoria Simons each owned 7,500 ordinary shares, being 10.7% of the issued share capital. There were no changes during the year to the shareholdings. Employees The Company seeks to comply fully with the requirements for the health, safety and welfare at work of its employees. Particular regard is paid to the use of visual display units and keyboards. Pensions The introduction of two-factor authentication of on-line transactions has stopped the Company from making direct contributions to the personal pension scheme for the sole director who is below the Company’s retirement age. Her pay has been increased so that she can make the contribution herself. No contingent liabilities exist in respect of past service or possible future salary increases. Auditors The Company takes advantage of the exemption from audit conferred by section 477 of the Companies Act 2006. Statement of Directors' Duties and Responsibilities Sections 171 - 177 of the Companies Act 2006 impose duties on directors: - to act within their powers - to promote the success of the company; - to exercise independent judgement; - to exercise reasonable care, skill and diligence; - to avoid conflicts of interest; - not to accept benefits from third parties; - to declare their interest in proposed transactions or arrangements. The directors acknowledge these duties. Company law requires the directors to prepare financial statements for each year which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing those financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to assume that the Company will continue in business. The directors acknowledge their responsibility for: - keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and which comply with section 386 of the Companies Act 2006; - preparing accounts in accordance with the above precepts; - safeguarding the assets of the Company and hence for taking reasonable steps for the prevention of fraud and other irregularities. The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006.
Directors
The directors shown below have held office during the whole of the period from 01 May 2023 to 30 April 2024
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
Name:
Status: Director
for the Period Ended 30 April 2024
Notes |
2024 £ |
2023 £ |
|
---|---|---|---|
Turnover |
|
|
|
Cost of sales |
(
|
(
|
|
Gross Profit or (Loss) |
|
|
|
Administrative Expenses |
(
|
(
|
|
Operating Profit or (Loss) |
|
(
|
|
Interest Receivable and Similar Income |
|
|
|
Profit or (Loss) Before Tax |
|
(
|
|
Tax on Profit |
(
|
(
|
|
Profit or (Loss) for Period |
|
(
|
The notes form part of these financial statements
As at
Notes |
2024 £ |
2023 £ |
|
---|---|---|---|
Fixed assets | |||
Intangible assets: | 4 |
|
|
Tangible assets: | 5 |
|
|
Total fixed assets: |
|
|
|
Current assets | |||
Debtors: | 6 |
|
|
Cash at bank and in hand: |
|
|
|
Total current assets: |
|
|
|
Creditors: amounts falling due within one year: | 7 |
( |
( |
Net current assets (liabilities): |
|
|
|
Total assets less current liabilities: |
|
|
|
Total net assets (liabilities): |
|
|
The notes form part of these financial statements
As at 30 April 2024
Notes |
2024 £ |
2023 £ |
|
---|---|---|---|
Capital and reserves | |||
Called up share capital: |
|
|
|
Revaluation reserve: | 8 |
|
|
Profit and loss account: |
( |
( |
|
Shareholders funds: |
|
|
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 April 2024
Basis of measurement and preparation
Turnover policy
Where turnover has not yet been invoiced to clients it is recorded in the Notes as Amounts Recoverable on Contracts. Such amounts are separately reported within Debtors. The valuation of amounts recoverable is based on assessment of progress towards completion of milestones and the turnover to be recognised at the milestone.
Tangible fixed assets depreciation policy
- Mobile computer hardware and other electronic equipment: 2 years
- Desktop computer hardware and other electronic equipment: 4 years
- Office fittings, decoration, equipment and furniture: 7 years
- Rent-free occupation of office: 15 years
Intangible fixed assets amortisation policy
Valuation information and policy
Other accounting policies
for the Period Ended 30 April 2024
2024 |
2023 |
|
---|---|---|
Average number of employees during the period |
|
|
Wages and salaries: 36,001 34,200
Social security costs: 0 0
Pension costs: 0 0
Total staff costs: 36,001 34,200
The highest-paid employee received total remuneration of £16,800.
for the Period Ended 30 April 2024
for the Period Ended 30 April 2024
Other | Total | |
---|---|---|
Cost | £ | £ |
At 01 May 2023 |
|
|
Additions | - | - |
Disposals | - | - |
Revaluations | - | - |
Transfers | - | - |
At 30 April 2024 |
|
|
Amortisation | ||
Amortisation at 01 May 2023 |
|
|
Charge for year | - | - |
On disposals | - | - |
Other adjustments | - | - |
Amortisation at 30 April 2024 |
|
|
Net book value | ||
Net book value at 30 April 2024 |
|
|
Net book value at 30 April 2023 |
|
|
for the Period Ended 30 April 2024
Land & buildings | Office equipment | Total | |
---|---|---|---|
Cost | £ | £ | £ |
At 01 May 2023 |
|
|
|
Additions | - | - | - |
Disposals | - | - | - |
Revaluations | - | - | - |
Transfers | - | - | - |
At 30 April 2024 |
|
|
|
Depreciation | |||
At 01 May 2023 |
|
|
|
Charge for year | - | - | - |
On disposals | - | - | - |
Other adjustments | - | - | - |
At 30 April 2024 |
|
|
|
Net book value | |||
At 30 April 2024 |
|
|
|
At 30 April 2023 |
|
|
|
for the Period Ended 30 April 2024
2024 £ |
2023 £ |
|
---|---|---|
Trade debtors |
|
|
Other debtors |
|
|
Total |
|
|
for the Period Ended 30 April 2024
2024 £ |
2023 £ |
|
---|---|---|
Taxation and social security |
|
|
Other creditors |
|
|
Total |
|
|
for the Period Ended 30 April 2024
2024 £ |
|
---|---|
Balance at 01 May 2023 |
|
Surplus or deficit after revaluation |
|
Balance at 30 April 2024 |
|
for the Period Ended 30 April 2024
Name of related party: |
|
Description of relationship: | |
Directors and shareholders; ultimate controlling party | |
Description of the transaction: | |
|
|
Balance at 01 May 2023 |
|
Balance at 30 April 2024 |
|
MATERIAL OUTWITH THE FINANCIAL STATEMENTS
Not the Profit and Loss Account
Notes 2024 2023
Turnover 37,500 34,000
Cost of Sales
Staff costs 2 (24,000) (22,800)
Other direct costs (0) (0)
(24,000) (22,800)
Gross Profit 13,500 11,200
Net Operating Expenses
Staff costs 2 (12,001) (11,400)
General administration (1,340) (1,303)
Depreciation (0) (0)
Accountancy (0) (0)
(13,341) (12,703)
Operating Profit (Loss) 159 (1,503)
Treasury Operations
Interest paid 0 0
Interest received 589 296
Exchange rate gain (loss) 0 0
589 296
Profit (Loss) for the Period 748 (1,207)
Distributable profit brought forward (5,352) (4,145)
Appropriation for premium on redeemable shares
UK and foreign corporation taxes 0 0
Dividend
Distributable Profit Carried Forward (4,604) (5,352)
Not the Balance Sheet
Notes 30 April 2024 30 April 2023
Fixed Assets
Intangible assets 3 0 0
Tangible assets 4 0 0
0 0
Current Assets
Trade debtors 5 9,375 8,500
UK and foreign corporation taxes 0 0
Cash at bank and in hand 30,074 43,055
Cash security for performance bond 0 0
39,449 51,555
Creditors within one year
Trade creditors (0) (0)
Directors loan account 6 (22,052) (28,940)
UK and foreign corporation taxes (0) (0)
Social security and other taxes 6 (0) (5,966)
Accrued expenses (0) (0)
Dividends (0) (0)
(22,052) (34,906)
Net Current Assets 17,397 16,649
Total Assets less Current Liabilities 17,397 16,649
Creditors due after one year 0 0
Total Assets less Liabilities 17,397 16,649
Capital and Reserves
Called-up Equity Share Capital 7,000 7,000
Capital Redemption Reserve 7 14,656 14,656
Share Premium 7 345 345
Profit and Loss Account (4,604) (5,352)
Total Shareholders Funds 17,397 16,649