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No description of principal activity
2022-12-01
Sage Accounts Production Advanced 2023 - FRS102_2023
600,000
455,045
1,055,045
1,055,045
600,000
xbrli:pure
xbrli:shares
iso4217:GBP
11066139
2022-12-01
2023-11-30
11066139
2023-11-30
11066139
2022-11-30
11066139
2021-12-01
2022-11-30
11066139
2022-11-30
11066139
2021-11-30
11066139
bus:OrdinaryShareClass1
2022-12-01
2023-11-30
11066139
bus:Director1
2022-12-01
2023-11-30
11066139
core:WithinOneYear
2023-11-30
11066139
core:WithinOneYear
2022-11-30
11066139
core:UKTax
2022-12-01
2023-11-30
11066139
core:UKTax
2021-12-01
2022-11-30
11066139
core:ShareCapital
2023-11-30
11066139
core:ShareCapital
2022-11-30
11066139
core:RetainedEarningsAccumulatedLosses
2023-11-30
11066139
core:RetainedEarningsAccumulatedLosses
2022-11-30
11066139
core:CostValuation
core:Non-currentFinancialInstruments
2022-11-30
11066139
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2023-11-30
11066139
core:CostValuation
core:Non-currentFinancialInstruments
2023-11-30
11066139
core:Non-currentFinancialInstruments
2023-11-30
11066139
core:Non-currentFinancialInstruments
2022-11-30
11066139
bus:SmallEntities
2022-12-01
2023-11-30
11066139
bus:AuditExemptWithAccountantsReport
2022-12-01
2023-11-30
11066139
bus:SmallCompaniesRegimeForAccounts
2022-12-01
2023-11-30
11066139
bus:PrivateLimitedCompanyLtd
2022-12-01
2023-11-30
11066139
bus:FullAccounts
2022-12-01
2023-11-30
11066139
bus:OrdinaryShareClass1
2023-11-30
11066139
bus:OrdinaryShareClass1
2022-11-30
COMPANY REGISTRATION NUMBER:
11066139
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 November 2023
Fixed assets
Investments |
5 |
|
1,055,045 |
600,000 |
|
|
|
|
|
Current assets
Cash at bank and in hand |
6,006 |
|
15,102 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
873,949 |
|
452,639 |
|
--------- |
|
--------- |
Net current liabilities |
|
867,943 |
437,537 |
|
|
------------ |
--------- |
Total assets less current liabilities |
|
187,102 |
162,463 |
|
|
|
|
|
Provisions |
|
15,085 |
15,085 |
|
|
--------- |
--------- |
Net assets |
|
172,017 |
147,378 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
7 |
|
100 |
100 |
Profit and loss account |
|
171,917 |
147,278 |
|
|
--------- |
--------- |
Shareholders funds |
|
172,017 |
147,378 |
|
|
--------- |
--------- |
|
|
|
|
|
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.
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
.
These financial statements were approved by the
board of directors
and authorised for issue on
27 November 2024
, and are signed on behalf of the board by:
Company registration number:
11066139
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 145 Granville Street, Clarks Courtyard, Birmingham, West Midlands, B1 1SB.
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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
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.
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.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4.
Tax on profit
Major components of tax expense
Current tax:
UK current tax expense |
6,141 |
6,682 |
|
|
|
Deferred tax:
Origination and reversal of timing differences |
– |
15,085 |
|
------- |
-------- |
Tax on profit |
6,141 |
21,767 |
|
------- |
-------- |
|
|
|
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is the same as (2022: higher than) the
standard rate of corporation tax in the UK
of
19.95
% (2022:
19
%).
|
2023 |
2022 |
|
£ |
£ |
Profit on ordinary activities before taxation |
30,780 |
114,564 |
|
-------- |
--------- |
Profit on ordinary activities by rate of tax |
6,141 |
6,682 |
Other tax adjustment to increase/(decrease) tax liability - desc in a/cs |
– |
15,085 |
|
-------- |
--------- |
Tax on profit |
6,141 |
21,767 |
|
-------- |
--------- |
|
|
|
5.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 December 2022 |
600,000 |
Additions |
455,045 |
|
------------ |
At 30 November 2023 |
1,055,045 |
|
------------ |
Impairment |
|
At 1 December 2022 and 30 November 2023 |
– |
|
------------ |
|
|
Carrying amount |
|
At 30 November 2023 |
1,055,045 |
|
------------ |
At 30 November 2022 |
600,000 |
|
------------ |
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
331,162 |
71,278 |
Corporation tax |
19,276 |
10,014 |
Deposits |
6,000 |
– |
Other creditors 2 - desc in a/cs |
14,045
|
– |
Other creditors |
503,466 |
371,347 |
|
--------- |
--------- |
|
873,949 |
452,639 |
|
--------- |
--------- |
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
8.
Director's advances, credits and guarantees
At 30th November 2023, other creditors include the following amounts due to the director:- Mr S.S. Clair £497,466 (2022 - £366,547) The loans are interest free, for an indefinite period and repayable on demand