COMPANY REGISTRATION NUMBER:
11401481
Filleted Unaudited Financial Statements |
|
31 July 2024
|
31 Jul 24 |
31 Mar 23 |
Note |
£ |
£ |
|
|
|
Current assets
Debtors |
5 |
216,688 |
515,157 |
Cash at bank and in hand |
91,565 |
72,844 |
|
--------- |
--------- |
|
308,253 |
588,001 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
16,285 |
302,396 |
|
--------- |
--------- |
Net current assets |
291,968 |
285,605 |
|
--------- |
--------- |
Total assets less current liabilities |
291,968 |
285,605 |
|
--------- |
--------- |
Net assets |
291,968 |
285,605 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
220 |
220 |
Share premium account |
31,900 |
31,900 |
Profit and loss account |
259,848 |
253,485 |
|
--------- |
--------- |
Shareholders funds |
291,968 |
285,605 |
|
--------- |
--------- |
|
|
|
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 comprehensive income (including profit and loss account) has not been delivered.
For the period ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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
8 October 2024
, and are signed on behalf of the board by:
Company registration number:
11401481
Notes to the Financial Statements |
|
Period from 1 April 2023 to 31 July 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 100 Broad Road, Sale, M33 2ER.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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. There are no material judgements, estimates or assumptions.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, 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.
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:
|
Fixtures and fittings |
- |
25% straight line |
|
Equipment |
- |
25% straight line |
|
|
|
|
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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
(2023:
1
).
5.
Debtors
|
31 Jul 24 |
31 Mar 23 |
|
£ |
£ |
Trade debtors |
5,438 |
308,532 |
Other debtors |
211,250 |
206,625 |
|
--------- |
--------- |
|
216,688 |
515,157 |
|
--------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
31 Jul 24 |
31 Mar 23 |
|
£ |
£ |
Trade creditors |
– |
6,000 |
Corporation tax |
1,717 |
130,616 |
Other creditors |
14,568 |
165,780 |
|
-------- |
--------- |
|
16,285 |
302,396 |
|
-------- |
--------- |
|
|
|
7.
Director's advances, credits and guarantees
During the previous year, a loan was advanced to the director, totalling £150,000. As at 31 July 2024, £160,625 (31 March 2023 £156,000) is outstanding in respect of this loan, including £10,625 of loan interest charged to the director for the expected loan period.
8.
Reserves
The only movement in equity during the period was in respect of the profit for the period. All of the profit and loss account is distributable.