0
17 September 2024
false
false
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No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2023 - FRS102_2023
180,000
64,500
115,500
115,500
278,140
236,572
155,959
15,525
374,278
374,278
278,140
xbrli:pure
xbrli:shares
iso4217:GBP
4830850
2023-07-01
2024-06-30
4830850
2024-06-30
4830850
2023-06-30
4830850
2022-07-01
2023-06-30
4830850
2023-06-30
4830850
2022-06-30
4830850
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-07-01
2024-06-30
4830850
bus:OrdinaryShareClass1
2023-07-01
2024-06-30
4830850
bus:Director1
2023-07-01
2024-06-30
4830850
bus:Director3
2023-07-01
2024-06-30
4830850
core:LandBuildings
core:OwnedOrFreeholdAssets
2024-06-30
4830850
core:WithinOneYear
2024-06-30
4830850
core:WithinOneYear
2023-06-30
4830850
core:ShareCapital
2024-06-30
4830850
core:ShareCapital
2023-06-30
4830850
core:SharePremium
2024-06-30
4830850
core:SharePremium
2023-06-30
4830850
core:RetainedEarningsAccumulatedLosses
2024-06-30
4830850
core:RetainedEarningsAccumulatedLosses
2023-06-30
4830850
core:CostValuation
core:Non-currentFinancialInstruments
2023-06-30
4830850
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-06-30
4830850
core:DisposalsRepaymentsInvestments
core:Non-currentFinancialInstruments
2024-06-30
4830850
core:Non-currentFinancialInstruments
core:RevaluationsIncreaseDecreaseInInvestments
2024-06-30
4830850
core:CostValuation
core:Non-currentFinancialInstruments
2024-06-30
4830850
core:Non-currentFinancialInstruments
2024-06-30
4830850
core:Non-currentFinancialInstruments
2023-06-30
4830850
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-06-30
4830850
bus:Director3
2023-06-30
4830850
bus:Director3
2022-06-30
4830850
bus:SmallEntities
2023-07-01
2024-06-30
4830850
bus:Audited
2023-07-01
2024-06-30
4830850
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
4830850
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
4830850
bus:FullAccounts
2023-07-01
2024-06-30
4830850
bus:OrdinaryShareClass1
2024-06-30
4830850
bus:OrdinaryShareClass1
2023-06-30
COMPANY REGISTRATION NUMBER:
4830850
Filleted Financial Statements |
|
Directors' Responsibilities Statement |
|
Year ended 30 June 2024
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Statement of Financial Position |
|
30 June 2024
Fixed assets
Tangible assets |
4 |
|
115,500 |
115,500 |
Investments |
5 |
|
374,278 |
278,140 |
|
|
--------- |
--------- |
|
|
489,778 |
393,640 |
|
|
|
|
|
Current assets
Stocks |
97,944 |
|
80,805 |
Debtors |
6 |
70,293 |
|
79,410 |
Cash at bank and in hand |
217,845 |
|
238,563 |
|
--------- |
|
--------- |
|
386,082 |
|
398,778 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
109,219 |
|
106,471 |
|
--------- |
|
--------- |
Net current assets |
|
276,863 |
292,307 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
766,641 |
685,947 |
|
|
--------- |
--------- |
Net assets |
|
766,641 |
685,947 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
9 |
|
111,000 |
111,000 |
Share premium account |
|
120,000 |
120,000 |
Profit and loss account |
|
535,641 |
454,947 |
|
|
--------- |
--------- |
Shareholders funds |
|
766,641 |
685,947 |
|
|
--------- |
--------- |
|
|
|
|
|
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.
These financial statements were approved by the
board of directors
and authorised for issue on
17 September 2024
, and are signed on behalf of the board by:
Company registration number:
4830850
Notes to the Financial Statements |
|
Year ended 30 June 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 Suite 1, First floor, 1 Duchess Street, London, W1W 6AN.
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 principal activity of the company during the year was the supply of goods to the hotel and leisure industry.
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities 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 and represents amounts receivable for goods supplied, stated net of discounts and of Value Added Tax.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
|
Freehold property |
- |
2% straight line |
|
|
|
|
Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
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 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. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.
4.
Tangible assets
|
Freehold property |
|
£ |
Cost |
|
At 1 July 2023 and 30 June 2024 |
180,000 |
|
--------- |
Depreciation |
|
At 1 July 2023 and 30 June 2024 |
64,500 |
|
--------- |
Carrying amount |
|
At 30 June 2024 |
115,500 |
|
--------- |
At 30 June 2023 |
115,500 |
|
--------- |
|
|
5.
Investments
|
Other investments other than loans |
|
£ |
Valuation |
|
At 1 July 2023 |
278,140 |
Additions |
236,572 |
Disposals |
(
155,959) |
Revaluations |
15,525 |
|
--------- |
At 30 June 2024 |
374,278 |
|
--------- |
Impairment |
|
At 1 July 2023 and 30 June 2024 |
– |
|
--------- |
|
|
Carrying amount |
|
At 30 June 2024 |
374,278 |
|
--------- |
At 30 June 2023 |
278,140 |
|
--------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
50,302 |
63,510 |
Other debtors |
19,991 |
15,900 |
|
-------- |
-------- |
|
70,293 |
79,410 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
84,415 |
84,802 |
Corporation tax |
17,114 |
8,596 |
Social security and other taxes |
– |
1,959 |
Other creditors |
7,690 |
11,114 |
|
--------- |
--------- |
|
109,219 |
106,471 |
|
--------- |
--------- |
|
|
|
8.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss |
374,278 |
278,140 |
|
--------- |
--------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
111,000 |
111,000 |
111,000 |
111,000 |
|
--------- |
--------- |
--------- |
--------- |
|
|
|
|
|
10.
Summary audit opinion
The auditor's report dated
17 September 2024
was
unqualified
.
The senior statutory auditor was
Sonia Yeshin BFP FCA
, for and on behalf of
Leaman Mattei
.
11.
Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
|
Balance brought forward and outstanding |
|
2024 |
2023 |
|
£ |
£ |
T Boundford |
12,000 |
12,000 |
|
-------- |
-------- |
|
|
|
12.
Related party transactions
During the period, the company received rental income of £10,250 (2023: £10,250) from Northmace & Hendon Limited, a company controlled by
M H J Plaut
and a close family member. The company also paid management charges of £40,291 (2023: £40,291) to Northmace & Hendon Limited.
13.
Controlling party
The ultimate controlling party is M H J Plaut and a close family member.