3 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 2023 - FRS102_2023 5,000 5,000 xbrli:pure xbrli:shares iso4217:GBP 07938052 2023-03-01 2024-02-29 07938052 2024-02-29 07938052 2023-02-28 07938052 2022-03-01 2023-02-28 07938052 2023-02-28 07938052 2022-02-28 07938052 core:NetGoodwill 2023-03-01 2024-02-29 07938052 core:LandBuildings core:LongLeaseholdAssets 2023-03-01 2024-02-29 07938052 core:FurnitureFittings 2023-03-01 2024-02-29 07938052 bus:Director1 2023-03-01 2024-02-29 07938052 core:NetGoodwill 2024-02-29 07938052 core:LandBuildings 2023-02-28 07938052 core:FurnitureFittings 2023-02-28 07938052 core:LandBuildings 2024-02-29 07938052 core:FurnitureFittings 2024-02-29 07938052 core:LandBuildings 2023-03-01 2024-02-29 07938052 core:WithinOneYear 2024-02-29 07938052 core:WithinOneYear 2023-02-28 07938052 core:AfterOneYear 2024-02-29 07938052 core:AfterOneYear 2023-02-28 07938052 core:ShareCapital 2024-02-29 07938052 core:ShareCapital 2023-02-28 07938052 core:RetainedEarningsAccumulatedLosses 2024-02-29 07938052 core:RetainedEarningsAccumulatedLosses 2023-02-28 07938052 core:LandBuildings 2023-02-28 07938052 core:FurnitureFittings 2023-02-28 07938052 bus:SmallEntities 2023-03-01 2024-02-29 07938052 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 07938052 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 07938052 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 07938052 bus:FullAccounts 2023-03-01 2024-02-29 07938052 core:OfficeEquipment 2023-03-01 2024-02-29 07938052 core:OfficeEquipment 2023-02-28 07938052 core:OfficeEquipment 2024-02-29
COMPANY REGISTRATION NUMBER: 07938052
Tony Unsworth Limited
Filleted Unaudited Financial Statements
29 February 2024
Tony Unsworth Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
3,523
3,081
Current assets
Stocks
480
480
Debtors
7
681
131
Cash at bank and in hand
2,750
2,275
-------
-------
3,911
2,886
Creditors: amounts falling due within one year
8
64,972
72,546
--------
--------
Net current liabilities
61,061
69,660
--------
--------
Total assets less current liabilities
( 57,538)
( 66,579)
Creditors: amounts falling due after more than one year
9
5,000
7,888
--------
--------
Net liabilities
( 62,538)
( 74,467)
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 62,539)
( 74,468)
--------
--------
Shareholders deficit
( 62,538)
( 74,467)
--------
--------
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.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Tony Unsworth Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 28 November 2024 , and are signed on behalf of the board by:
Mr A C Unsworth
Director
Company registration number: 07938052
Tony Unsworth Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is 74 Newton Road, Mumbles, Swansea, SA3 4BE.
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
The turnover shown in the profit and loss account represents sales during the year, net of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
100% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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:
Long leasehold property
-
5% straight line
Fixtures and fittings
-
15% reducing balance
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.
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Intangible assets
Goodwill
£
Cost
At 1 March 2023 and 29 February 2024
5,000
-------
Amortisation
At 1 March 2023 and 29 February 2024
5,000
-------
Carrying amount
At 29 February 2024
-------
At 28 February 2023
-------
6. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
1,290
2,561
3,886
7,737
Additions
219
1,142
1,361
-------
-------
-------
-------
At 29 February 2024
1,290
2,780
5,028
9,098
-------
-------
-------
-------
Depreciation
At 1 March 2023
646
1,842
2,168
4,656
Charge for the year
64
140
715
919
-------
-------
-------
-------
At 29 February 2024
710
1,982
2,883
5,575
-------
-------
-------
-------
Carrying amount
At 29 February 2024
580
798
2,145
3,523
-------
-------
-------
-------
At 28 February 2023
644
719
1,718
3,081
-------
-------
-------
-------
7. Debtors
2024
2023
£
£
Other debtors
681
131
----
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
4,000
4,380
Trade creditors
5,064
4,768
Social security and other taxes
65
223
Other creditors
55,843
63,175
--------
--------
64,972
72,546
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,000
7,888
-------
-------