Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 05157654 Mr Richard Sluggett Mrs Emma Sluggett Mrs Emma Sluggett iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 05157654 2023-06-30 05157654 2024-06-30 05157654 2023-07-01 2024-06-30 05157654 frs-core:CurrentFinancialInstruments 2024-06-30 05157654 frs-core:ComputerEquipment 2024-06-30 05157654 frs-core:ComputerEquipment 2023-07-01 2024-06-30 05157654 frs-core:ComputerEquipment 2023-06-30 05157654 frs-core:NetGoodwill 2024-06-30 05157654 frs-core:NetGoodwill 2023-07-01 2024-06-30 05157654 frs-core:NetGoodwill 2023-06-30 05157654 frs-core:MotorVehicles 2024-06-30 05157654 frs-core:MotorVehicles 2023-07-01 2024-06-30 05157654 frs-core:MotorVehicles 2023-06-30 05157654 frs-core:PlantMachinery 2024-06-30 05157654 frs-core:PlantMachinery 2023-07-01 2024-06-30 05157654 frs-core:PlantMachinery 2023-06-30 05157654 frs-core:ShareCapital 2024-06-30 05157654 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 05157654 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05157654 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 05157654 frs-bus:SmallEntities 2023-07-01 2024-06-30 05157654 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05157654 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 05157654 frs-bus:Director1 2023-07-01 2024-06-30 05157654 frs-bus:Director2 2023-07-01 2024-06-30 05157654 frs-bus:CompanySecretary1 2023-07-01 2024-06-30 05157654 frs-countries:EnglandWales 2023-07-01 2024-06-30 05157654 2022-06-30 05157654 2023-06-30 05157654 2022-07-01 2023-06-30 05157654 frs-core:CurrentFinancialInstruments 2023-06-30 05157654 frs-core:ShareCapital 2023-06-30 05157654 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 05157654
Bassett & Sluggett Coaches Limited
Financial Statements
For The Year Ended 30 June 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 05157654
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 60,177 34,835
60,177 34,835
CURRENT ASSETS
Stocks 6 10,527 10,185
Debtors 7 33,828 35,650
Cash at bank and in hand 205,255 213,034
249,610 258,869
Creditors: Amounts Falling Due Within One Year 8 (129,531 ) (121,788 )
NET CURRENT ASSETS (LIABILITIES) 120,079 137,081
TOTAL ASSETS LESS CURRENT LIABILITIES 180,256 171,916
PROVISIONS FOR LIABILITIES
Deferred Taxation (15,044 ) (8,709 )
NET ASSETS 165,212 163,207
CAPITAL AND RESERVES
Called up share capital 150 150
Profit and Loss Account 165,062 163,057
SHAREHOLDERS' FUNDS 165,212 163,207
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Emma Sluggett
Director
25 October 2024
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Bassett & Sluggett Coaches Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05157654 . The registered office is Office 19 Manor Offices, North Road, Holsworthy, Devon, EX22 6DJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary 
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, . The principal accounting policies adopted are set out below
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 25% reducing balance
Office Equipment 33% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 9 (2023: 8)
9 8
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 30,000
As at 30 June 2024 30,000
Amortisation
As at 1 July 2023 30,000
As at 30 June 2024 30,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Office Equipment Total
£ £ £ £
Cost
As at 1 July 2023 90,426 16,500 3,767 110,693
Additions 2,338 39,896 - 42,234
Disposals - (16,500 ) - (16,500 )
As at 30 June 2024 92,764 39,896 3,767 136,427
Depreciation
As at 1 July 2023 63,325 8,766 3,767 75,858
Provided during the period 4,239 5,941 - 10,180
Disposals - (9,788 ) - (9,788 )
As at 30 June 2024 67,564 4,919 3,767 76,250
Net Book Value
As at 30 June 2024 25,200 34,977 - 60,177
As at 1 July 2023 27,101 7,734 - 34,835
6. Stocks
2024 2023
£ £
Raw materials and consumables 10,527 10,185
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Page 6
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,218 34,168
Other debtors 1,610 1,482
33,828 35,650
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,623 30,895
Other creditors 69,695 53,665
Taxation and social security 30,213 37,228
129,531 121,788
Page 6