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27 November 2024
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No description of principal activity
2022-10-01
Sage Accounts Production Advanced 2023 - FRS102_2023
198,301
198,101
200
200
26,486
25,441
279
25,720
766
1,045
xbrli:pure
xbrli:shares
iso4217:GBP
06931336
2022-10-01
2023-11-30
06931336
2023-11-30
06931336
2022-09-30
06931336
2021-10-01
2022-09-30
06931336
2022-09-30
06931336
2021-09-30
06931336
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2022-10-01
2023-11-30
06931336
core:MotorVehicles
2022-10-01
2023-11-30
06931336
bus:RegisteredOffice
2022-10-01
2023-11-30
06931336
bus:OrdinaryShareClass1
2022-10-01
2023-11-30
06931336
bus:LeadAgentIfApplicable
2022-10-01
2023-11-30
06931336
bus:Director3
2022-10-01
2023-11-30
06931336
bus:Director4
2022-10-01
2023-11-30
06931336
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-11-30
06931336
core:FurnitureFittings
2022-09-30
06931336
core:FurnitureFittings
2023-11-30
06931336
core:WithinOneYear
2023-11-30
06931336
core:WithinOneYear
2022-09-30
06931336
core:ShareCapital
2023-11-30
06931336
core:ShareCapital
2022-09-30
06931336
core:RetainedEarningsAccumulatedLosses
2023-11-30
06931336
core:RetainedEarningsAccumulatedLosses
2022-09-30
06931336
core:FurnitureFittings
2022-10-01
2023-11-30
06931336
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2022-09-30
06931336
core:FurnitureFittings
2022-09-30
06931336
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2022-10-01
2023-11-30
06931336
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2022-10-01
2023-11-30
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2022-10-01
2023-11-30
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2022-10-01
2023-11-30
06931336
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2022-10-01
2023-11-30
06931336
bus:OrdinaryShareClass1
2023-11-30
06931336
bus:OrdinaryShareClass1
2022-09-30
06931336
core:AllSubsidiaries
2022-10-01
2023-11-30
COMPANY REGISTRATION NUMBER:
06931336
Filleted Financial Statements |
|
Period from 1 October 2022 to 30 November 2023
Officers and professional advisers |
1 |
|
|
Statement of financial position |
2 |
|
|
Notes to the financial statements |
3 |
|
|
Officers and Professional Advisers |
|
The board of directors |
Mr J Brady |
|
Mrs J I Tuffs |
|
|
Registered office |
New Bridgewater House |
|
Mayfield Avenue |
|
Worsley |
|
Manchester |
|
England |
|
M28 3JF |
|
|
Auditor |
Crossley & Davis Chartered Accountants |
|
Chartered accountants & statutory auditor |
|
Ground Floor, Seneca House |
|
Links Point |
|
Amy Johnson Way |
|
Blackpool |
|
Lancashire |
|
FY4 2FF |
|
|
Statement of Financial Position |
|
30 November 2023
|
30 Nov 23 |
30 Sep 22 |
Note |
£ |
£ |
|
|
|
Fixed assets
Intangible assets |
5 |
200 |
200 |
Tangible assets |
6 |
766 |
1,045 |
|
---- |
------- |
|
966 |
1,245 |
|
|
|
|
Current assets
Debtors |
7 |
450,913 |
1,294,073 |
Cash at bank and in hand |
42,630 |
58,591 |
|
--------- |
------------ |
|
493,543 |
1,352,664 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
477,251 |
443,255 |
|
--------- |
------------ |
Net current assets |
16,292 |
909,409 |
|
-------- |
--------- |
Total assets less current liabilities |
17,258 |
910,654 |
|
|
|
|
Provisions |
146 |
199 |
|
-------- |
--------- |
Net assets |
17,112 |
910,455 |
|
-------- |
--------- |
|
|
|
Capital and reserves
Called up share capital |
9 |
100 |
100 |
Profit and loss account |
17,012 |
910,355 |
|
-------- |
--------- |
Shareholders funds |
17,112 |
910,455 |
|
-------- |
--------- |
|
|
|
|
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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:
06931336
Notes to the Financial Statements |
|
Period from 1 October 2022 to 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 New Bridgewater House, Mayfield Avenue, Worsley, Manchester, M28 3JF, England.
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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
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.
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:
|
Development costs |
- |
20% 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.
Research and development
Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
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:
|
Fixtures and fittings |
- |
20% - 33% on a straight line or reducing balance basis.
|
|
Motor vehicles |
- |
20% 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. 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.
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. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
1
(2022:
2
).
5.
Intangible assets
|
Development costs |
|
£ |
Cost |
|
At 1 October 2022 and 30 November 2023 |
198,301 |
|
--------- |
Amortisation |
|
At 1 October 2022 and 30 November 2023 |
198,101 |
|
--------- |
Carrying amount |
|
At 30 November 2023 |
200 |
|
--------- |
At 30 September 2022 |
200 |
|
--------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
|
£ |
Cost |
|
At 1 October 2022 and 30 November 2023 |
26,486 |
|
-------- |
Depreciation |
|
At 1 October 2022 |
25,441 |
Charge for the period |
279 |
|
-------- |
At 30 November 2023 |
25,720 |
|
-------- |
Carrying amount |
|
At 30 November 2023 |
766 |
|
-------- |
At 30 September 2022 |
1,045 |
|
-------- |
|
|
7.
Debtors
|
30 Nov 23 |
30 Sep 22 |
|
£ |
£ |
Trade debtors |
126,904 |
199,826 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
292,140 |
1,024,866 |
Other debtors |
31,869 |
69,381 |
|
--------- |
------------ |
|
450,913 |
1,294,073 |
|
--------- |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
30 Nov 23 |
30 Sep 22 |
|
£ |
£ |
Trade creditors |
7,216 |
163,365 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
410,538 |
– |
Social security and other taxes |
54,904 |
231,449 |
Other creditors |
4,593 |
48,441 |
|
--------- |
--------- |
|
477,251 |
443,255 |
|
--------- |
--------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
30 Nov 23 |
30 Sep 22 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Charges on assets
Jane Idella Tuffs had a fixed and floating charge registered over the whole of the assets and undertaking of the company. This charge was registered on 13th August 2019 and satisified in full on 15 December 2023.
Santander UK PLC has a fixed and floating charge registered on 13th August 2019. The floating charge covers all the property of the undertaking of the company.
11.
Summary audit opinion
The auditor's report dated
27 November 2024
was
unqualified
. The statutory auditor was
Peter Swarbrick BSc FCA
.
12.
Related party transactions
Included within debtors are balances of £292,140 (2022 - £1,024,866) due from connected companies. During the period the company made sales of £410,538 (2022 - £166,302) to connected companies. During the period the company paid management charges of £368,870 (2022 - £494,017) to a connected company.
13.
Controlling party
At the balance sheet date the company's immediate parent was
Red Seven Technology Group Limited
, a company registered in England and Wales. The ultimate controlling party was Red Seven Holdings Limited
, a company registered in the Isle of Man a company owned by Mr R Booth. The parent company, Red Seven Technology Group Limited, has prepared consolidated financial statements; its registered office is New Bridgewater House, Mayfield Avenue, Worsley, Manchester, M28 3FJ. On 6 December 2023, the Group was purchased by Dura Software UK Ltd.