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No description of principal activity
2023-03-24
Sage Accounts Production Advanced 2023 - FRS102_2023
180,982
xbrli:pure
xbrli:shares
iso4217:GBP
14754098
2023-03-24
2024-03-31
14754098
2024-03-31
14754098
2023-03-23
14754098
core:NetGoodwill
2023-03-24
2024-03-31
14754098
bus:RegisteredOffice
2023-03-24
2024-03-31
14754098
bus:Director1
2023-03-24
2024-03-31
14754098
bus:Director1
2024-03-31
14754098
core:NetGoodwill
2024-03-31
14754098
core:WithinOneYear
2024-03-31
14754098
core:AfterOneYear
2024-03-31
14754098
core:RetainedEarningsAccumulatedLosses
2023-03-24
2024-03-31
14754098
core:RetainedEarningsAccumulatedLosses
2024-03-31
14754098
core:ShareCapital
2024-03-31
14754098
bus:SmallEntities
2023-03-24
2024-03-31
14754098
bus:AuditExempt-NoAccountantsReport
2023-03-24
2024-03-31
14754098
bus:SmallCompaniesRegimeForAccounts
2023-03-24
2024-03-31
14754098
bus:PrivateLimitedCompanyLtd
2023-03-24
2024-03-31
14754098
bus:FullAccounts
2023-03-24
2024-03-31
14754098
core:IntangibleAssetsOtherThanGoodwill
2023-03-24
2024-03-31
14754098
core:IntangibleAssetsOtherThanGoodwill
2024-03-31
COMPANY REGISTRATION NUMBER:
14754098
Unaudited Financial Statements |
|
Period from 24 March 2023 to 31 March 2024
Statement of income and retained earnings |
2 |
|
|
Statement of financial position |
3 |
|
|
Notes to the financial statements |
5 |
|
|
Period from 24 March 2023 to 31 March 2024
The director presents her report and the unaudited financial statements of the company for the period ended
31 March 2024
.
Incorporation
The company was incorporated on
24 March 2023
and commenced trading on 25 September 2023.
Director
The director who served the company during the period was as follows:
Mrs S Awan-Patel |
(Appointed
24 March 2023) |
|
|
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
26 November 2024
and signed on behalf of the board by:
Mrs S Awan-Patel |
|
Director |
|
|
|
Registered office: |
C/O The Accounting Centre Limited |
First Floor, 736 High Road |
North Finchley |
London |
N12 9QD |
|
Statement of Income and Retained Earnings |
|
Period from 24 March 2023 to 31 March 2024
|
Period from |
|
24 Mar 23 to |
|
31 Mar 24 |
Note |
£ |
Turnover |
2,963,844 |
|
|
Cost of sales |
999,592 |
|
------------ |
Gross profit |
1,964,252 |
|
|
Distribution costs |
105,451 |
Administrative expenses |
1,618,279 |
|
------------ |
Operating profit |
240,522 |
|
|
|
|
------------ |
Profit before taxation |
5 |
240,522 |
|
|
|
Tax on profit |
59,540 |
|
--------- |
Profit for the financial period and total comprehensive income |
180,982 |
|
--------- |
|
|
Dividends paid and payable |
(
2,430) |
|
|
Retained earnings at the start of the period |
– |
|
--------- |
Retained earnings at the end of the period |
178,552 |
|
--------- |
|
|
All the activities of the company are from continuing operations.
Statement of Financial Position |
|
31 March 2024
Fixed assets
Intangible assets |
6 |
3,303 |
|
|
|
Current assets
Stocks |
25,168 |
Debtors |
7 |
20,203 |
Cash at bank and in hand |
827,279 |
|
--------- |
|
872,650 |
|
|
|
Creditors: amounts falling due within one year |
8 |
497,401 |
|
--------- |
Net current assets |
375,249 |
|
--------- |
Total assets less current liabilities |
378,552 |
|
|
|
Creditors: amounts falling due after more than one year |
9 |
199,900 |
|
--------- |
Net assets |
178,652 |
|
--------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
Profit and loss account |
178,552 |
|
--------- |
Shareholders funds |
178,652 |
|
--------- |
|
|
These financial statements have been prepared 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'.
For the period ending 31 March 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 period in question in accordance with section 476
;
-
The director acknowledges her 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
26 November 2024
, and are signed on behalf of the board by:
Mrs S Awan-Patel |
|
Director |
|
|
|
Company registration number:
14754098
Notes to the Financial Statements |
|
Period from 24 March 2023 to 31 March 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 C/O The Accounting Centre Limited, First Floor, 736 High Road, North Finchley, London, N12 9QD.
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.
Income 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 pay or recover 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
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.
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
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. Debt instruments are subsequently measured at amortised cost.
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. Amounts not paid are shown as a creditor on the balance sheet. The assets of the scheme are held separately from the company in independently administered funds.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
125
.
5.
Profit before taxation
Profit before taxation is stated after charging:
|
Period from |
|
24 Mar 23 to |
|
31 Mar 24 |
|
£ |
Amortisation of intangible assets |
44 |
|
---- |
|
|
6.
Intangible assets
|
Goodwill |
Investments |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
Additions |
2,097 |
1,250 |
3,347 |
|
------- |
------- |
------- |
At 31 March 2024 |
2,097 |
1,250 |
3,347 |
|
------- |
------- |
------- |
Amortisation |
|
|
|
Charge for the period |
44 |
– |
44 |
|
------- |
------- |
------- |
At 31 March 2024 |
44 |
– |
44 |
|
------- |
------- |
------- |
Carrying amount |
|
|
|
At 31 March 2024 |
2,053 |
1,250 |
3,303 |
|
------- |
------- |
------- |
|
|
|
|
7.
Debtors
|
31 Mar 24 |
|
£ |
Other debtors |
20,203 |
|
-------- |
|
|
8.
Creditors:
amounts falling due within one year
|
31 Mar 24 |
|
£ |
Trade creditors |
187,120 |
Corporation tax |
59,540 |
Social security and other taxes |
174,978 |
Other creditors |
75,763 |
|
--------- |
|
497,401 |
|
--------- |
|
|
9.
Creditors:
amounts falling due after more than one year
|
31 Mar 24 |
|
£ |
Other creditors |
199,900 |
|
--------- |
|
|
10.
Director's advances, credits and guarantees
The company owed to the directors £199,900 at the reporting date.
11.
Controlling party
The company was under the control of its directors throughout the year.