10
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-03-01
Sage Accounts Production Advanced 2024 - FRS102_2024
22,999
1,362
24,361
18,334
1,512
19,846
4,515
4,665
xbrli:pure
xbrli:shares
iso4217:GBP
09763742
2023-03-01
2024-02-29
09763742
2024-02-29
09763742
2023-02-28
09763742
2022-03-01
2023-02-28
09763742
2023-02-28
09763742
2022-02-28
09763742
core:PlantMachinery
2023-03-01
2024-02-29
09763742
bus:Director1
2023-03-01
2024-02-29
09763742
core:PlantMachinery
2023-02-28
09763742
core:PlantMachinery
2024-02-29
09763742
core:WithinOneYear
2024-02-29
09763742
core:WithinOneYear
2023-02-28
09763742
core:ShareCapital
2024-02-29
09763742
core:ShareCapital
2023-02-28
09763742
core:RetainedEarningsAccumulatedLosses
2024-02-29
09763742
core:RetainedEarningsAccumulatedLosses
2023-02-28
09763742
core:BetweenOneFiveYears
2024-02-29
09763742
core:BetweenOneFiveYears
2023-02-28
09763742
core:PlantMachinery
2023-02-28
09763742
bus:SmallEntities
2023-03-01
2024-02-29
09763742
bus:AuditExemptWithAccountantsReport
2023-03-01
2024-02-29
09763742
bus:SmallCompaniesRegimeForAccounts
2023-03-01
2024-02-29
09763742
bus:PrivateLimitedCompanyLtd
2023-03-01
2024-02-29
09763742
bus:FullAccounts
2023-03-01
2024-02-29
09763742
core:KeyManagementIndividualGroup1
2023-03-01
2024-02-29
09763742
core:KeyManagementIndividualGroup1
2024-02-29
09763742
core:KeyManagementIndividualGroup1
2023-02-28
COMPANY REGISTRATION NUMBER:
09763742
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
29 February 2024
Fixed assets
Tangible assets |
5 |
|
4,515 |
|
4,665 |
|
|
|
|
|
|
Current assets
Debtors |
6 |
150,142 |
|
126,975 |
|
Cash at bank and in hand |
226,857 |
|
223,537 |
|
|
---------- |
|
---------- |
|
|
376,999 |
|
350,512 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
80,785) |
|
(
74,458) |
|
|
---------- |
|
---------- |
|
Net current assets |
|
296,214 |
|
276,054 |
|
|
---------- |
|
---------- |
Total assets less current liabilities |
|
300,729 |
|
280,719 |
|
|
---------- |
|
---------- |
Net assets |
|
300,729 |
|
280,719 |
|
|
---------- |
|
---------- |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
60 |
|
60 |
Profit and loss account |
|
300,669 |
|
280,659 |
|
|
---------- |
|
---------- |
Shareholders funds |
|
300,729 |
|
280,719 |
|
|
---------- |
|
---------- |
|
|
|
|
|
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.
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
29 February 2024
These financial statements were approved by the
board of directors
and authorised for issue on
14 November 2024
, and are signed on behalf of the board by:
Company registration number:
09763742
Notes to the Financial Statements |
|
Year ended 29 February 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 106 Micklegate, York, North Yorkshire, YO1 6JX.
2.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern Following the challenges arising as a consequence of the Covid-19 pandemic in 2020/21, more latterly the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Where the outcome of a transaction can be estimated reliably, revenue associated with the transaction is recognised in the income statement by reference to the stage of completion at the balance sheet date. Consideration accrues as contract activity progresses with reference to the value of work performed. Hence revenue in respect of service contracts represents the cost appropriate to the stage of completion of each contract plus attributable profits, less amounts recognised in previous years, where relevant. Unbilled revenue is included in debtors as "Amounts recoverable on contract". Amounts billed on account in excess of the amounts recognised as revenue are included in creditors.
(d) Current and deferred 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 be paid or recovered 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
. (e) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) 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:
|
Office equipment |
- |
25% reducing balance |
|
|
|
|
(g) 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.
(h)
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities
.
(i)
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 year amounted to
10
(2023:
10
).
5.
Tangible assets
|
Office equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 March 2023 |
22,999 |
22,999 |
Additions |
1,362 |
1,362 |
|
-------- |
-------- |
At 29 February 2024 |
24,361 |
24,361 |
|
-------- |
-------- |
Depreciation |
|
|
At 1 March 2023 |
18,334 |
18,334 |
Charge for the year |
1,512 |
1,512 |
|
-------- |
-------- |
At 29 February 2024 |
19,846 |
19,846 |
|
-------- |
-------- |
Carrying amount |
|
|
At 29 February 2024 |
4,515 |
4,515 |
|
-------- |
-------- |
At 28 February 2023 |
4,665 |
4,665 |
|
-------- |
-------- |
|
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
64,237 |
70,230 |
Prepayments and accrued income |
10,961 |
10,312 |
Amounts recoverable on contracts |
74,944 |
46,433 |
|
---------- |
---------- |
|
150,142 |
126,975 |
|
---------- |
---------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Corporation tax |
19,550 |
17,864 |
Social security and other taxes |
38,351 |
38,200 |
Directors loan account |
18,610 |
10,561 |
Other creditors |
4,274 |
7,833 |
|
-------- |
-------- |
|
80,785 |
74,458 |
|
-------- |
-------- |
|
|
|
8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2024 |
2023 |
|
£ |
£ |
|
Not later than 1 year |
16,800 |
16,800 |
|
Later than 1 year and not later than 5 years |
36,998 |
56,798 |
|
|
-------- |
-------- |
|
|
53,798 |
73,598 |
|
|
-------- |
-------- |
|
|
|
|
9.
Related party transactions
During the year the company was in receipt of a loan from a
director
. The loan is interest free and repayable on demand.
At the year end date, the balance owing to the director totalled £ 18,610
(2023 - £ 10,561
).