(1) General Information
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The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is 53 Inchbonnie Road, Chelmsford, CM3 5FD. |
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(2) Statement of compliance
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These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies regime. |
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(3) Significant Accounting Policies
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Basis of Preparation
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These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention |
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Revenue recognition
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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. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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Property, plant and equipment
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Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.
Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
| Asset class and depreciation rate | Land and Buildings | | Plant and Machinery | | Short Leasehold Properties | | Investment Properties | | Long Leasehold Properties | | Commercial Vehicles | | Fixtures and Fittings | | Equipment | 25% reducing balance | Motor Cars | |
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Pension costs and other post-retirement benefits
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The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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(4) Critical accounting judgements and key sources of estimation uncertainty
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No judgement
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No significant judgements or estimates have been made in preparation of these financial statements. |
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(5) Employees
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During the period, the average number of employees including director was 1 (2022 : 1). |
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(6) Debtors
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Amounts falling due within one year
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| | | 2024 | | 2022 | | £ | | £ | | Trade debtors | 3,600 | | 114,800 | Other debtors | 34,056 | | 1,273 | | | | | | 37,656 | | 116,073 |
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(7) Creditors: Amounts falling due within one year
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| | | 2024 | | 2022 | | £ | | £ | | | | | | | | | | | | | | Other taxes and social security | 18,455 | | 56,859 | Other creditors | 1,039 | | 813 | | | | | | 19,494 | | 57,672 |
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(8) Fixed assets
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| Tangible £ | Cost | | As at 01 January 2023 | 7,310 | As at 31 March 2024 | 7,310 | Depreciation/Amortisation | | As at 01 January 2023 | 4,172 | For the year | 785 | As at 31 March 2024 | 4,957 | Net book value | | As at 31 March 2024 | 2,353 | As at 31 December 2022 | 3,138 |
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(9) RELATED PARTY DISCLOSURES
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The Director, Mr S Fenton, is considered to be key management personnel. |
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