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No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
05149649
2023-05-01
2024-04-30
05149649
2024-04-30
05149649
2023-04-30
05149649
2022-05-01
2023-04-30
05149649
2023-04-30
05149649
2022-04-30
05149649
bus:Director1
2023-05-01
2024-04-30
05149649
core:WithinOneYear
2024-04-30
05149649
core:WithinOneYear
2023-04-30
05149649
core:AfterOneYear
2024-04-30
05149649
core:AfterOneYear
2023-04-30
05149649
core:ShareCapital
2024-04-30
05149649
core:ShareCapital
2023-04-30
05149649
core:RetainedEarningsAccumulatedLosses
2024-04-30
05149649
core:RetainedEarningsAccumulatedLosses
2023-04-30
05149649
bus:SmallEntities
2023-05-01
2024-04-30
05149649
bus:AuditExemptWithAccountantsReport
2023-05-01
2024-04-30
05149649
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
05149649
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
05149649
bus:AbridgedAccounts
2023-05-01
2024-04-30
05149649
core:LandBuildings
core:OwnedOrFreeholdAssets
2023-05-01
2024-04-30
05149649
core:FurnitureFittings
2023-05-01
2024-04-30
05149649
core:MotorVehicles
2023-05-01
2024-04-30
05149649
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-05-01
2024-04-30
05149649
core:CommunicationNetworkEquipment
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
05149649
Filleted Unaudited Abridged Financial Statements |
|
Abridged Statement of Financial Position |
|
30 April 2024
Fixed assets
Tangible assets |
6 |
|
354,470 |
376,436 |
|
|
|
|
|
Current assets
Stocks |
278,744 |
|
226,191 |
Debtors |
8,279 |
|
9,749 |
Cash at bank and in hand |
1,415 |
|
5,072 |
|
--------- |
|
--------- |
|
288,438 |
|
241,012 |
|
|
|
|
Creditors: amounts falling due within one year |
246,035 |
|
151,029 |
|
--------- |
|
--------- |
Net current assets |
|
42,403 |
89,983 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
396,873 |
466,419 |
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
492,132 |
434,211 |
|
|
--------- |
--------- |
Net (liabilities)/assets |
|
(
95,259) |
32,208 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
20 |
20 |
Profit and loss account |
|
(
95,279) |
32,188 |
|
|
-------- |
-------- |
Shareholders (deficit)/funds |
|
(
95,259) |
32,208 |
|
|
-------- |
-------- |
|
|
|
|
These abridged 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 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
30 April 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
24 January 2025
, and are signed on behalf of the board by:
Company registration number:
05149649
Notes to the Abridged Financial Statements |
|
Year ended 30 April 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 Cornerways, Green Lane, Ardleigh, Colchester, CO7 7PD.
2.
Statement of compliance
These abridged 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
(a)
Basis of preparation
The abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
(b)
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.
(c)
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.
(d)
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
(e)
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.
(f)
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:
|
Trademarks |
- |
25% 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.
(g)
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.
(h)
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:
|
Land and buildings |
- |
Straight line over 50 years |
|
Fixtures, fittings and equipment |
- |
25% straight line |
|
Motor vehicles |
- |
25% reducing balance |
|
Website |
- |
Straight line over 3 years |
|
|
|
|
No depreciation is provided in respect of freehold property held for rental purposes. There is no depreciation charge for the current year in respect of the other properties as their residual value at the year end is considered to be in excess of net book value.
(i)
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.
(j)
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2023:
6
).
5.
Intangible assets
|
£ |
Cost |
|
At 1 May 2023 and 30 April 2024 |
2,680 |
|
------- |
Amortisation |
|
At 1 May 2023 and 30 April 2024 |
2,680 |
|
------- |
Carrying amount |
|
At 30 April 2024 |
– |
|
------- |
At 30 April 2023 |
– |
|
------- |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 May 2023 |
670,880 |
Additions |
701 |
|
--------- |
At 30 April 2024 |
671,581 |
|
--------- |
Depreciation |
|
At 1 May 2023 |
294,444 |
Charge for the year |
22,667 |
|
--------- |
At 30 April 2024 |
317,111 |
|
--------- |
Carrying amount |
|
At 30 April 2024 |
354,470 |
|
--------- |
At 30 April 2023 |
376,436 |
|
--------- |
|
|
7.
Creditors:
amounts falling due after more than one year
Within creditors due after more than one year an amount of £46,263 (2023 - £48,377) is secured on the property on which the loan has been given.
Included within creditors falling due after more than one year is an amount of £34,911 (2023 - £37,511) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.