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No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2024 - FRS102_2024
40,000
40,000
100,000
100,000
100,000
xbrli:pure
xbrli:shares
iso4217:GBP
NI617810
2023-05-01
2024-04-30
NI617810
2024-04-30
NI617810
2023-04-30
NI617810
2022-05-01
2023-04-30
NI617810
2023-04-30
NI617810
2022-04-30
NI617810
core:NetGoodwill
2023-05-01
2024-04-30
NI617810
bus:Director1
2023-05-01
2024-04-30
NI617810
core:NetGoodwill
2024-04-30
NI617810
core:WithinOneYear
2024-04-30
NI617810
core:WithinOneYear
2023-04-30
NI617810
core:ShareCapital
2024-04-30
NI617810
core:ShareCapital
2023-04-30
NI617810
core:RetainedEarningsAccumulatedLosses
2024-04-30
NI617810
core:RetainedEarningsAccumulatedLosses
2023-04-30
NI617810
core:CostValuation
core:Non-currentFinancialInstruments
2024-04-30
NI617810
core:Non-currentFinancialInstruments
2024-04-30
NI617810
core:Non-currentFinancialInstruments
2023-04-30
NI617810
bus:SmallEntities
2023-05-01
2024-04-30
NI617810
bus:AuditExemptWithAccountantsReport
2023-05-01
2024-04-30
NI617810
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
NI617810
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
NI617810
bus:FullAccounts
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
NI617810
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
30 April 2024
Fixed assets
Tangible assets |
6 |
|
3,083 |
1,873 |
Investments |
7 |
|
100,000 |
100,000 |
|
|
--------- |
--------- |
|
|
103,083 |
101,873 |
|
|
|
|
|
Current assets
Debtors |
8 |
59 |
|
37 |
Cash at bank and in hand |
130,270 |
|
117,539 |
|
--------- |
|
--------- |
|
130,329 |
|
117,576 |
|
|
|
|
|
Creditors: amounts falling due within one year |
9 |
27,607 |
|
32,604 |
|
--------- |
|
--------- |
Net current assets |
|
102,722 |
84,972 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
205,805 |
186,845 |
|
|
--------- |
--------- |
Net assets |
|
205,805 |
186,845 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
2 |
2 |
Profit and loss account |
|
205,803 |
186,843 |
|
|
--------- |
--------- |
Shareholders funds |
|
205,805 |
186,845 |
|
|
--------- |
--------- |
|
|
|
|
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 April 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 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
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
30 April 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 January 2025
, and are signed on behalf of the board by:
Company registration number:
NI617810
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 30 APRIL 2024
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Linenhall Exchange, First Floor, 26 Linenhall Street, Belfast, BT2 8BG, Northern Ireland.
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 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. 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 provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Taxation
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.
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:
|
Goodwill |
- |
10% 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.
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.
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:
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 May 2023 and 30 April 2024 |
40,000 |
|
-------- |
Amortisation |
|
At 1 May 2023 and 30 April 2024 |
40,000 |
|
-------- |
Carrying amount |
|
At 30 April 2024 |
– |
|
-------- |
At 30 April 2023 |
– |
|
-------- |
|
|
6.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 May 2023 |
|
59,284 |
Additions |
|
1,706 |
|
-------- |
-------- |
At 30 April 2024 |
|
60,990 |
|
-------- |
-------- |
Depreciation |
|
|
At 1 May 2023 |
|
57,411 |
Charge for the year |
|
496 |
|
-------- |
-------- |
At 30 April 2024 |
|
57,907 |
|
-------- |
-------- |
Carrying amount |
|
|
At 30 April 2024 |
|
3,083 |
|
-------- |
-------- |
At 30 April 2023 |
|
1,873 |
|
-------- |
-------- |
|
|
|
7.
Investments
|
Other investments other than loans |
|
£ |
Cost |
|
At 1 May 2023 and 30 April 2024 |
100,000 |
|
--------- |
Impairment |
|
At 1 May 2023 and 30 April 2024 |
– |
|
--------- |
|
|
Carrying amount |
|
At 30 April 2024 |
100,000 |
|
--------- |
At 30 April 2023 |
100,000 |
|
--------- |
|
|
8.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
59 |
37 |
|
---- |
---- |
|
|
|
9.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
2,620 |
394 |
Corporation tax |
6,730 |
9,439 |
Prepaid plans |
|
|
Other creditors |
11,974 |
5,567 |
|
-------- |
-------- |
|
27,607 |
32,604 |
|
-------- |
-------- |
|
|
|
10.
Director's advances, credits and guarantees
During the year, the director advanced net loans of £6,599 to the company (2023: the company advanced net loans of £18,363 to the director). At the year end, the company owed the director £9,294 (2023: £2,695).
11.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed.
12.
Controlling party
The company is under control of the sole shareholder and director,
Mr G Ritchie
.