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No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
01796080
2023-07-01
2024-06-30
01796080
2024-06-30
01796080
2023-06-30
01796080
2022-07-01
2023-06-30
01796080
2023-06-30
01796080
2022-06-30
01796080
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-07-01
2024-06-30
01796080
core:PlantMachinery
2023-07-01
2024-06-30
01796080
core:FurnitureFittings
2023-07-01
2024-06-30
01796080
bus:Director3
2023-07-01
2024-06-30
01796080
core:LandBuildings
2023-06-30
01796080
core:PlantMachinery
2023-06-30
01796080
core:FurnitureFittings
2023-06-30
01796080
core:LandBuildings
2024-06-30
01796080
core:PlantMachinery
2024-06-30
01796080
core:FurnitureFittings
2024-06-30
01796080
core:LandBuildings
2023-07-01
2024-06-30
01796080
core:WithinOneYear
2024-06-30
01796080
core:WithinOneYear
2023-06-30
01796080
core:AfterOneYear
2024-06-30
01796080
core:AfterOneYear
2023-06-30
01796080
core:RevaluationReserve
2024-06-30
01796080
core:RevaluationReserve
2023-06-30
01796080
core:RetainedEarningsAccumulatedLosses
2024-06-30
01796080
core:RetainedEarningsAccumulatedLosses
2023-06-30
01796080
core:LandBuildings
2023-06-30
01796080
core:PlantMachinery
2023-06-30
01796080
core:FurnitureFittings
2023-06-30
01796080
bus:SmallEntities
2023-07-01
2024-06-30
01796080
bus:AuditExemptWithAccountantsReport
2023-07-01
2024-06-30
01796080
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
01796080
bus:CompanyLimitedByGuarantee
2023-07-01
2024-06-30
01796080
bus:FullAccounts
2023-07-01
2024-06-30
01796080
core:OfficeEquipment
2023-07-01
2024-06-30
01796080
core:OfficeEquipment
2023-06-30
01796080
core:OfficeEquipment
2024-06-30
COMPANY REGISTRATION NUMBER:
01796080
Company Limited by Guarantee |
|
Filleted Unaudited Financial Statements |
|
Company Limited by Guarantee |
|
Statement of Financial Position |
|
30 June 2024
Fixed assets
Tangible assets |
6 |
|
1,348,696 |
1,397,097 |
|
|
|
|
|
Current assets
Stocks |
6,853 |
|
6,527 |
Debtors |
7 |
1,076 |
|
2,089 |
Cash at bank and in hand |
203,913 |
|
137,945 |
|
--------- |
|
--------- |
|
211,842 |
|
146,561 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
88,910 |
|
59,167 |
|
--------- |
|
--------- |
Net current assets |
|
122,932 |
87,394 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,471,628 |
1,484,491 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
8,167 |
14,583 |
|
|
------------ |
------------ |
Net assets |
|
1,463,461 |
1,469,908 |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
Revaluation reserve |
|
1,159,100 |
1,159,100 |
Profit and loss account |
|
304,361 |
310,808 |
|
|
------------ |
------------ |
Members funds |
|
1,463,461 |
1,469,908 |
|
|
------------ |
------------ |
|
|
|
|
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 30 June 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
.
Company Limited by Guarantee |
|
Statement of Financial Position (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
7 November 2024
, and are signed on behalf of the board by:
Company registration number:
01796080
Company Limited by Guarantee |
|
Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is The Club House, Higginshaw Road, Oldham, Greater Manchester, OL1 3JY, United Kingdom.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
All fixed assets are initially recorded at cost. Where there is a policy for revaluation then historical cost is adjusted based on the revalued amount with the difference being transferred to the revaluation reserve.
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 |
|
Plant & Machinery |
- |
25% reducing balance |
|
Fixtures & Fittings |
- |
10% straight line |
|
Office Equipment |
- |
25% reducing balance |
|
|
|
|
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Company limited by guarantee
As the company is Limited by Guarantee there are no shareholders and therefore a reconciliation of movements in shareholders funds is inappropriate.
5.
Employee numbers
The average number of persons employed by the company during the year amounted to
10
(2023:
10
).
6.
Tangible assets
|
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
At 1 July 2023 |
1,716,516 |
27,366 |
179,532 |
2,111 |
1,925,525 |
Additions |
– |
– |
2,680 |
– |
2,680 |
|
------------ |
-------- |
--------- |
------- |
------------ |
At 30 June 2024 |
1,716,516 |
27,366 |
182,212 |
2,111 |
1,928,205 |
|
------------ |
-------- |
--------- |
------- |
------------ |
Depreciation |
|
|
|
|
|
At 1 July 2023 |
402,913 |
15,561 |
108,974 |
980 |
528,428 |
Charge for the year |
34,326 |
2,952 |
13,520 |
283 |
51,081 |
|
------------ |
-------- |
--------- |
------- |
------------ |
At 30 June 2024 |
437,239 |
18,513 |
122,494 |
1,263 |
579,509 |
|
------------ |
-------- |
--------- |
------- |
------------ |
Carrying amount |
|
|
|
|
|
At 30 June 2024 |
1,279,277 |
8,853 |
59,718 |
848 |
1,348,696 |
|
------------ |
-------- |
--------- |
------- |
------------ |
At 30 June 2023 |
1,313,603 |
11,805 |
70,558 |
1,131 |
1,397,097 |
|
------------ |
-------- |
--------- |
------- |
------------ |
|
|
|
|
|
|
Freehold land & property was revalued to current market value by Bennett Kaye, Chartered Valuation Surveyors on 9th August 2016.
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
1,076 |
2,089 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
7,000 |
7,000 |
Trade creditors |
12,745 |
7,419 |
Social security and other taxes |
15,526 |
9,340 |
Other creditors |
53,639 |
35,408 |
|
-------- |
-------- |
|
88,910 |
59,167 |
|
-------- |
-------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
8,167 |
14,583 |
|
------- |
-------- |
|
|
|
10.
Directors' advances, credits and guarantees
There were no advances made to the directors during the year (2023: £nil).
11.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8