12
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2024 - FRS102_2024
135,006
10,092
124,914
124,914
xbrli:pure
xbrli:shares
iso4217:GBP
01231819
2022-12-01
2023-11-30
01231819
2023-11-30
01231819
2022-11-30
01231819
2021-12-01
2022-11-30
01231819
2022-11-30
01231819
2021-11-30
01231819
bus:Director4
2022-12-01
2023-11-30
01231819
core:LandBuildings
2022-11-30
01231819
core:PlantMachinery
2022-11-30
01231819
core:LandBuildings
2023-11-30
01231819
core:PlantMachinery
2023-11-30
01231819
core:LandBuildings
2022-12-01
2023-11-30
01231819
core:PlantMachinery
2022-12-01
2023-11-30
01231819
core:WithinOneYear
2023-11-30
01231819
core:WithinOneYear
2022-11-30
01231819
core:AfterOneYear
2023-11-30
01231819
core:AfterOneYear
2022-11-30
01231819
core:ShareCapital
2023-11-30
01231819
core:ShareCapital
2022-11-30
01231819
core:SharePremium
2023-11-30
01231819
core:SharePremium
2022-11-30
01231819
core:RevaluationReserve
2023-11-30
01231819
core:RevaluationReserve
2022-11-30
01231819
core:RetainedEarningsAccumulatedLosses
2023-11-30
01231819
core:RetainedEarningsAccumulatedLosses
2022-11-30
01231819
core:MoreThanFiveYears
2023-11-30
01231819
core:MoreThanFiveYears
2022-11-30
01231819
core:CostValuation
core:Non-currentFinancialInstruments
2023-11-30
01231819
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2023-11-30
01231819
core:Non-currentFinancialInstruments
2023-11-30
01231819
core:Non-currentFinancialInstruments
2022-11-30
01231819
core:LandBuildings
2022-11-30
01231819
core:PlantMachinery
2022-11-30
01231819
bus:Director1
2022-12-01
2023-11-30
01231819
bus:SmallEntities
2022-12-01
2023-11-30
01231819
bus:AuditExemptWithAccountantsReport
2022-12-01
2023-11-30
01231819
bus:SmallCompaniesRegimeForAccounts
2022-12-01
2023-11-30
01231819
bus:PrivateLimitedCompanyLtd
2022-12-01
2023-11-30
01231819
bus:FullAccounts
2022-12-01
2023-11-30
01231819
core:LongLeaseholdAssets
2022-12-01
2023-11-30
01231819
core:KeyManagementIndividualGroup1
2022-12-01
2023-11-30
01231819
core:KeyManagementIndividualGroup1
2023-11-30
01231819
core:KeyManagementIndividualGroup1
2022-11-30
COMPANY REGISTRATION NUMBER:
01231819
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 November 2023
Fixed assets
Tangible assets |
5 |
|
621,607 |
|
620,491 |
Investments |
6 |
|
124,914 |
|
124,914 |
|
|
---------- |
|
---------- |
|
|
746,521 |
|
745,405 |
|
|
|
|
|
|
Current assets
Debtors |
7 |
113,575 |
|
34,585 |
|
Cash at bank and in hand |
239,174 |
|
2,273,452 |
|
|
---------- |
|
------------- |
|
|
352,749 |
|
2,308,037 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
150,118 |
|
1,640,161 |
|
|
---------- |
|
------------- |
|
Net current assets |
|
202,631 |
|
667,876 |
|
|
---------- |
|
------------- |
Total assets less current liabilities |
|
949,152 |
|
1,413,281 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
49,105 |
|
50,924 |
|
|
---------- |
|
------------- |
Net assets |
|
900,047 |
|
1,362,357 |
|
|
---------- |
|
------------- |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100,000 |
|
100,000 |
Share premium account |
|
291,994 |
|
291,994 |
Revaluation reserve |
|
46,192 |
|
46,192 |
Profit and loss account |
|
461,861 |
|
924,171 |
|
|
---------- |
|
------------- |
Shareholders funds |
|
900,047 |
|
1,362,357 |
|
|
---------- |
|
------------- |
|
|
|
|
|
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 November 2023 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) |
|
30 November 2023
These financial statements were approved by the
board of directors
and authorised for issue on
21 June 2024
, and are signed on behalf of the board by:
Company registration number:
01231819
Notes to the Financial Statements |
|
Year ended 30 November 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Stockholm Road, Hull, East Riding of Yorkshire, HU7 0XW.
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' which includes the amendments as a result of the Triennial Review 2017.
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
The UK economy has recently 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)
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.
(d)
Revenue recognition
Turnover represents invoiced sales of services, excluding VAT. Revenue from the provision of management services is recognised when the amount of revenue can be measured reliably, it is probable that the associated economic benefit will flow to the entity, and the costs incurred or to be incurred in respect of transactions can be measured reliably. Dividend income is recognised when the company's right to receive payment is established.
(e)
Current & 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.
(f)
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to the expense over the lease term, on a straight-line basis.
(g)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment properties rented to other group companies are classified as property, plant and equipment (land and buildings) and held at deemed cost less depreciation and impairment. 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.
(h)
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:
|
Plant & Machinery |
- |
20% & 33% reducing balance |
|
|
|
|
Depreciation on land and buildings is charged on a straight line basis over the estimated useful life of 58 years.
(i)
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
(j)
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. 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.
(k)
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
.
(l)
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
12
(2022:
11
).
5.
Tangible assets
|
Land and buildings |
Plant and machinery |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 December 2022 |
655,000 |
130,756 |
785,756 |
Additions |
– |
16,015 |
16,015 |
|
---------- |
---------- |
---------- |
At 30 November 2023 |
655,000 |
146,771 |
801,771 |
|
---------- |
---------- |
---------- |
Depreciation |
|
|
|
At 1 December 2022 |
35,088 |
130,177 |
165,265 |
Charge for the year |
11,696 |
3,203 |
14,899 |
|
---------- |
---------- |
---------- |
At 30 November 2023 |
46,784 |
133,380 |
180,164 |
|
---------- |
---------- |
---------- |
Carrying amount |
|
|
|
At 30 November 2023 |
608,216 |
13,391 |
621,607 |
|
---------- |
---------- |
---------- |
At 30 November 2022 |
619,912 |
579 |
620,491 |
|
---------- |
---------- |
---------- |
|
|
|
|
Included within land and buildings are investment properties with a net book value of £
608,216
(2022 - £ 619,912
) which are rented to group undertakings. The company has chosen to account for these properties at deemed cost less depreciation and impairment.
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 December 2022 and 30 November 2023 |
135,006 |
|
---------- |
Impairment |
|
At 1 December 2022 and 30 November 2023 |
10,092 |
|
---------- |
|
|
Carrying amount |
|
At 30 November 2023 |
124,914 |
|
---------- |
At 30 November 2022 |
124,914 |
|
---------- |
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
52,204 |
– |
Other debtors |
61,371 |
34,585 |
|
---------- |
-------- |
|
113,575 |
34,585 |
|
---------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
37,736 |
34,625 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
10,143 |
1,405,185 |
Corporation tax |
– |
31,362 |
Social security and other taxes |
6,376 |
8,769 |
Directors loan accounts |
48,620 |
115,265 |
Other creditors |
47,243 |
44,955 |
|
---------- |
------------- |
|
150,118 |
1,640,161 |
|
---------- |
------------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Other creditors |
49,105 |
50,924 |
|
-------- |
-------- |
|
|
|
10.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
|
Later than 5 years |
47,677 |
47,677 |
|
|
-------- |
-------- |
|
|
|
|
The company is required to make annual payments of £47,677 under non-cancellable leases until 2076.
11.
Related party transactions
The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group.
The directors
made available interest free loans to the company which are repayable on demand
. At the balance sheet date the total balance owed to the directors was £ 48,620
(2022 - £ 115,265
).