9 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,723 1,574 1,574 3,148 1,575 3,149 xbrli:pure xbrli:shares iso4217:GBP 14044866 2023-05-01 2024-04-30 14044866 2024-04-30 14044866 2023-04-30 14044866 2022-05-01 2023-04-30 14044866 2023-04-30 14044866 2022-04-30 14044866 core:PlantMachinery 2023-05-01 2024-04-30 14044866 bus:Director1 2023-05-01 2024-04-30 14044866 core:PlantMachinery 2023-04-30 14044866 core:PlantMachinery 2024-04-30 14044866 core:WithinOneYear 2024-04-30 14044866 core:WithinOneYear 2023-04-30 14044866 core:ShareCapital 2024-04-30 14044866 core:RetainedEarningsAccumulatedLosses 2024-04-30 14044866 core:RetainedEarningsAccumulatedLosses 2023-04-30 14044866 core:PlantMachinery 2023-04-30 14044866 bus:SmallEntities 2023-05-01 2024-04-30 14044866 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 14044866 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 14044866 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 14044866 bus:FullAccounts 2023-05-01 2024-04-30
COMPANY REGISTRATION NUMBER: 14044866
The Patch Colchester Ltd
Filleted Unaudited Financial Statements
For the Year Ended
30 April 2024
The Patch Colchester Ltd
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
5
1,575
3,149
Current Assets
Stocks
8,144
Debtors
6
9,120
8,003
Cash at bank and in hand
11,135
---------
-------
28,399
8,003
Creditors: amounts falling due within one year
7
41,759
32,479
---------
---------
Net Current Liabilities
13,360
24,476
---------
---------
Total Assets Less Current Liabilities
( 11,785)
( 21,327)
---------
---------
Net Liabilities
( 11,785)
( 21,327)
---------
---------
Capital and Reserves
Called up share capital
100
Profit and loss account
( 11,885)
( 21,327)
---------
---------
Shareholders Deficit
( 11,785)
( 21,327)
---------
---------
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 30th April 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 .
The Patch Colchester Ltd
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 25 June 2024 , and are signed on behalf of the board by:
Jenna Saiz-Abo Henriksen
Director
Company registration number: 14044866
The Patch Colchester Ltd
Notes to the Financial Statements
Year Ended 30th April 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 56 Rawstorn Road, Colchester, Essex, CO3 3JH.
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. Revenue Recognition Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. 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:
Plant and machinery - 33% straight line
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.
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
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument .
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. Employee Numbers
The average number of persons employed by the company during the year amounted to 9 (2023: 9 ).
5. Tangible Assets
Plant and machinery
£
Cost
At 1st May 2023 and 30th April 2024
4,723
-------
Depreciation
At 1st May 2023
1,574
Charge for the year
1,574
-------
At 30th April 2024
3,148
-------
Carrying amount
At 30th April 2024
1,575
-------
At 30th April 2023
3,149
-------
6. Debtors
2024
2023
£
£
Trade debtors
1,014
Other debtors
9,120
6,989
-------
-------
9,120
8,003
-------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,195
Trade creditors
4,415
1,308
Social security and other taxes
6,695
5,244
Other creditors
30,649
20,732
---------
---------
41,759
32,479
---------
---------