Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falseShop fitting and office refurbishment2023-04-0114The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falsetruefalse 03114629 2023-04-01 2024-03-31 03114629 2022-04-01 2023-03-31 03114629 2024-03-31 03114629 2023-03-31 03114629 c:Director1 2023-04-01 2024-03-31 03114629 d:PlantMachinery 2023-04-01 2024-03-31 03114629 d:PlantMachinery 2024-03-31 03114629 d:PlantMachinery 2023-03-31 03114629 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03114629 d:MotorVehicles 2023-04-01 2024-03-31 03114629 d:MotorVehicles 2024-03-31 03114629 d:MotorVehicles 2023-03-31 03114629 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03114629 d:OfficeEquipment 2023-04-01 2024-03-31 03114629 d:OfficeEquipment 2024-03-31 03114629 d:OfficeEquipment 2023-03-31 03114629 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03114629 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03114629 d:CurrentFinancialInstruments 2024-03-31 03114629 d:CurrentFinancialInstruments 2023-03-31 03114629 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03114629 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03114629 d:ShareCapital 2024-03-31 03114629 d:ShareCapital 2023-03-31 03114629 d:RetainedEarningsAccumulatedLosses 2024-03-31 03114629 d:RetainedEarningsAccumulatedLosses 2023-03-31 03114629 c:FRS102 2023-04-01 2024-03-31 03114629 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03114629 c:FullAccounts 2023-04-01 2024-03-31 03114629 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03114629 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03114629 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03114629 2 2023-04-01 2024-03-31 03114629 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03114629










THE EXTENSION CENTRE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE EXTENSION CENTRE LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE EXTENSION CENTRE LIMITED
FOR THE YEAR ENDED 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Extension Centre Limited for the year ended 31 March 2024 which comprise  the Statement of financial position, the Statement of changes in equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of The Extension Centre Limited in accordance with the terms of our engagement letter dated 1st December 2021Our work has been undertaken solely to prepare for your approval the financial statements of The Extension Centre Limited and state those matters that we have agreed to state to the director of The Extension Centre Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Extension Centre Limited and its director for our work or for this report. 

It is your duty to ensure that The Extension Centre Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Extension Centre Limited. You consider that The Extension Centre Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of The Extension Centre Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



McColes & Co (Herts) Ltd
 
Chartered Accountants
  
First Floor
28 Whitehorse Street
Baldock
Herts
SG7 6QQ
1 October 2024
Page 1

 
THE EXTENSION CENTRE LIMITED
REGISTERED NUMBER: 03114629

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
56,978
86,011

  
56,978
86,011

Current assets
  

Stocks
 5 
-
12,506

Debtors: amounts falling due within one year
 6 
3,881
227,461

Cash at bank and in hand
  
497,732
463,983

  
501,613
703,950

Creditors: amounts falling due within one year
 7 
(43,168)
(261,916)

Net current assets
  
 
 
458,445
 
 
442,034

Total assets less current liabilities
  
515,423
528,045

Provisions for liabilities
  

Deferred tax
 8 
-
(2,785)

  
 
 
-
 
 
(2,785)

Net assets
  
515,423
525,260


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
515,421
525,258

  
515,423
525,260


Page 2

 
THE EXTENSION CENTRE LIMITED
REGISTERED NUMBER: 03114629
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2024.




J D Allen
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
THE EXTENSION CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
1.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
THE EXTENSION CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
1.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
THE EXTENSION CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)


1.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the methods below.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
1.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
THE EXTENSION CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.Accounting policies (continued)

 
1.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
1.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


2.


General information

The company is a private company, limited by shares and registered in England.
Its registered number is: 03114629
Its Registered Office is:
33 Hitchin Street
Baldock
Herts
SG7 6AQ


3.


Employees

2024
2023
£
£

Wages and salaries
91,351
175,008

Social security costs
4,462
15,466

Cost of defined contribution scheme
25,347
66,040

121,160
256,514


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
1
4

Page 7

 
THE EXTENSION CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
3,701
200,021
8,947
212,669


Additions
-
9,310
-
9,310



At 31 March 2024

3,701
209,331
8,947
221,979



Depreciation


At 1 April 2023
2,470
117,667
6,520
126,657


Charge for the year on owned assets
308
36,887
1,149
38,344



At 31 March 2024

2,778
154,554
7,669
165,001



Net book value



At 31 March 2024
923
54,777
1,278
56,978



At 31 March 2023
1,231
82,353
2,427
86,011

Page 8

 
THE EXTENSION CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Work in progress (goods to be sold)
-
12,506

-
12,506



6.


Debtors

2024
2023
£
£


Trade debtors
1,092
224,616

Prepayments and accrued income
2,789
2,845

3,881
227,461



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,288
67,504

Corporation tax
30,731
108,830

Other taxation and social security
5,006
82,168

Other creditors
3,253
1,524

Accruals and deferred income
1,890
1,890

43,168
261,916



8.


Deferred taxation




2024


£






At beginning of year
(2,784)


Utilised in year
2,784



At end of year
-

Page 9

 
THE EXTENSION CENTRE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
8.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
-
(2,784)

-
(2,784)


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,347 (2023 - £2,040). Contributions totalling £119 (2023 - £59) were payable to the fund at the reporting date and are included in creditors.


10.


Related party transactions

The amount due to the Director and included in Other Creditors is £668 (2023: £681).  The loan does not attract a rate of interest and is repayable on demand.

 
Page 10