2
false
false
false
false
false
false
false
false
false
false
true
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false
false
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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2024 - FRS102_2024
2,814
2,814
704
704
2,110
4,000
4,000
4,000
xbrli:pure
xbrli:shares
iso4217:GBP
09201246
2023-04-01
2024-03-31
09201246
2024-03-31
09201246
2023-03-31
09201246
2022-04-01
2023-03-31
09201246
2023-03-31
09201246
2022-03-31
09201246
bus:OrdinaryShareClass1
2023-04-01
2024-03-31
09201246
bus:OrdinaryShareClass2
2023-04-01
2024-03-31
09201246
bus:Director3
2023-04-01
2024-03-31
09201246
core:WithinOneYear
2024-03-31
09201246
core:WithinOneYear
2023-03-31
09201246
core:ShareCapital
2024-03-31
09201246
core:ShareCapital
2023-03-31
09201246
core:SharePremium
2024-03-31
09201246
core:SharePremium
2023-03-31
09201246
core:RetainedEarningsAccumulatedLosses
2024-03-31
09201246
core:RetainedEarningsAccumulatedLosses
2023-03-31
09201246
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-03-31
09201246
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
09201246
core:Non-currentFinancialInstruments
2024-03-31
09201246
bus:Director1
2023-04-01
2024-03-31
09201246
bus:SmallEntities
2023-04-01
2024-03-31
09201246
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
09201246
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
09201246
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
09201246
bus:FullAccounts
2023-04-01
2024-03-31
09201246
bus:OrdinaryShareClass1
2024-03-31
09201246
bus:OrdinaryShareClass1
2023-03-31
09201246
bus:OrdinaryShareClass2
2024-03-31
09201246
bus:AllOrdinaryShares
2024-03-31
09201246
bus:AllOrdinaryShares
2023-03-31
09201246
core:OfficeEquipment
2023-04-01
2024-03-31
09201246
core:OfficeEquipment
2024-03-31
COMPANY REGISTRATION NUMBER:
09201246
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 March 2024
Fixed assets
Tangible assets |
4 |
|
2,110 |
– |
Investments |
5 |
|
4,000 |
– |
|
|
------ |
---- |
|
|
6,110 |
– |
|
|
|
|
|
Current assets
Debtors |
6 |
23,877 |
|
37,525 |
Cash at bank and in hand |
275,971 |
|
58,604 |
|
-------- |
|
------- |
|
299,848 |
|
96,129 |
|
|
|
|
|
Prepayments and accrued income |
2,216 |
|
1,711 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
26,499 |
|
566,178 |
|
-------- |
|
-------- |
Net current assets/(liabilities) |
|
275,565 |
(
468,338) |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
281,675 |
(
468,338) |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
8 |
|
17,451 |
12,075 |
Share premium account |
|
1,408,836 |
198,212 |
Profit and loss account |
|
(
1,144,612) |
(
678,625) |
|
|
----------- |
-------- |
Shareholders funds/(deficit) |
|
281,675 |
(
468,338) |
|
|
----------- |
-------- |
|
|
|
|
|
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 has not been delivered.
For the year ending 31 March 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) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
31 October 2024
, and are signed on behalf of the board by:
Company registration number:
09201246
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered and trading in England and Wales with company number
09201246
. The address of the registered office is 21-23 Clemens Street, Leamington Spa, Warwickshire, CV31 2DW.
2.
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 company and rounded to the nearest £.
Going concern
The continuation of the company's affairs is dependent upon the support of the directors. These accounts have been prepared on a going concern basis which assumes their support for the foreseeable future.
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 in applying accounting policies and key sources of estimation in uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 |
- |
33% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Financial instruments
The company only has basic financial intstruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
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.
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
1
).
4.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 April 2023 |
– |
– |
Additions |
2,814 |
2,814 |
|
------ |
------ |
At 31 March 2024 |
2,814 |
2,814 |
|
------ |
------ |
Depreciation |
|
|
At 1 April 2023 |
– |
– |
Charge for the year |
704 |
704 |
|
------ |
------ |
At 31 March 2024 |
704 |
704 |
|
------ |
------ |
Carrying amount |
|
|
At 31 March 2024 |
2,110 |
2,110 |
|
------ |
------ |
At 31 March 2023 |
– |
– |
|
------ |
------ |
|
|
|
5.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2023 |
– |
Additions |
4,000 |
|
------ |
At 31 March 2024 |
4,000 |
|
------ |
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
|
------ |
|
|
Carrying amount |
|
At 31 March 2024 |
4,000 |
|
------ |
At 31 March 2023 |
– |
|
------ |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
8,000 |
– |
Other debtors |
15,877 |
37,525 |
|
------- |
------- |
|
23,877 |
37,525 |
|
------- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
22,012 |
117,663 |
Social security and other taxes |
3,374 |
1,836 |
Other creditors |
1,113 |
446,679 |
|
------- |
-------- |
|
26,499 |
566,178 |
|
------- |
-------- |
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
15,863 |
15,863 |
12,075 |
12,075 |
Preference shares of £ 1 each |
1,588 |
1,588 |
– |
– |
|
------- |
------- |
------- |
------- |
|
17,451 |
17,451 |
12,075 |
12,075 |
|
------- |
------- |
------- |
------- |
|
|
|
|
|
9.
Directors' advances, credits and guarantees
At the reporting date the directors loan account balance was Nil (2023: £250,000).
10.
Related party transactions
The company was under the control of Mr
V. Tara
throughout the current year.