1 30/04/2024 2024-04-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 02418564 2023-05-01 2024-04-30 02418564 2024-04-30 02418564 2023-04-30 02418564 2022-05-01 2023-04-30 02418564 2023-04-30 02418564 core:PlantMachinery 2023-05-01 2024-04-30 02418564 core:MotorVehicles 2023-05-01 2024-04-30 02418564 bus:RegisteredOffice 2023-05-01 2024-04-30 02418564 bus:LeadAgentIfApplicable 2023-05-01 2024-04-30 02418564 bus:Director1 2023-05-01 2024-04-30 02418564 bus:CompanySecretary1 2023-05-01 2024-04-30 02418564 core:WithinOneYear 2024-04-30 02418564 core:WithinOneYear 2023-04-30 02418564 core:ShareCapital 2024-04-30 02418564 core:ShareCapital 2023-04-30 02418564 core:RetainedEarningsAccumulatedLosses 2024-04-30 02418564 core:RetainedEarningsAccumulatedLosses 2023-04-30 02418564 bus:SmallEntities 2023-05-01 2024-04-30 02418564 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02418564 bus:AbridgedAccounts 2023-05-01 2024-04-30 02418564 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02418564 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02418564 1 2023-05-01 2024-04-30
Company registration number: 02418564
Discript Limited
Unaudited filleted abridged financial statements
30 April 2024
Discript Limited
Contents
Directors and other information
Abridged statement of financial position
Notes to the financial statements
Discript Limited
Directors and other information
Director Mr R.A. Bates
Secretary R.A.Bates
Company number 02418564
Registered office Kensington Cottage
Fishbourne
Chichester
West Sussex
PO19 3JJ
Accountant Ability Accounting Services Limited
11 Westbourne Grove
Chelmsford
Essex
CM2 9RT
Discript Limited
Abridged statement of financial position
30 April 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 3,611 255
_______ _______
3,611 255
Current assets
Debtors 13 2,555
Cash at bank and in hand 553 450
_______ _______
566 3,005
Creditors: amounts falling due
within one year ( 25,376) ( 27,993)
_______ _______
Net current liabilities ( 24,810) ( 24,988)
_______ _______
Total assets less current liabilities ( 21,199) ( 24,733)
_______ _______
Net liabilities ( 21,199) ( 24,733)
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account ( 21,201) ( 24,735)
_______ _______
Shareholder deficit ( 21,199) ( 24,733)
_______ _______
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 member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 abridged statement of income and retained earnings has not been delivered.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 31 January 2025 , and are signed on behalf of the board by:
Mr R.A. Bates
Director
Company registration number: 02418564
Discript Limited
Notes to the 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 Discript Limited, Kensington Cottage, Fishbourne, Chichester, West Sussex, PO19 3JJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern, which the director considers to be appropriate having regard to the circumstances outlined in note 9 to the financial statements.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and 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:
Computer equipment - 33 % straight line
Bicycles - 10 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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
A financial asset or a financial liability is recognised only when the company 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.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. 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 year amounted to 1 (2023: 1 ).
5. Intangible assets
£
Cost
At 1 May 2023 and 30 April 2024 20,000
_______
Amortisation
At 1 May 2023 and 30 April 2024 20,000
_______
Carrying amount
At 30 April 2024 -
_______
At 30 April 2023 -
_______
6. Tangible assets
£
Cost
At 1 May 2023 14,025
Additions 4,126
_______
At 30 April 2024 18,151
_______
Depreciation
At 1 May 2023 13,770
Charge for the year 770
_______
At 30 April 2024 14,540
_______
Carrying amount
At 30 April 2024 3,611
_______
At 30 April 2023 255
_______
7. Directors advances, credits and guarantees
Creditors includes a loan of £15,278 which is payable to R A Bates, the director. The loan is repayable on demand, interest free and unsecured. At the beginning of the year the company owed the director £11,880 through his current account. During the year the company repaid £2,725 to the director. At the end of the year he was owed £9,155.
8. Controlling party
The company is controlled by the director as shown in the directors report.
9. Going concern
The company has had another profitable year as the director works to stabilise the company's financial position. He has retained longstanding clients, is actively looking for new clients and developing new services. At the year end the company had a reduced retained loss of £21,201, net current liabilities and net liabilities of £21,199. The director will continue to support the company and considers the company to be a going concern.