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No description of principal activity
2023-06-01
Sage Accounts Production Advanced 2023 - FRS102_2023
22,360
3,753
26,113
21,112
2,278
23,390
2,723
1,248
xbrli:pure
xbrli:shares
iso4217:GBP
06900653
2023-06-01
2024-05-31
06900653
2024-05-31
06900653
2023-05-31
06900653
2022-06-01
2023-05-31
06900653
2023-05-31
06900653
2022-05-31
06900653
core:WithinOneYear
2024-05-31
06900653
core:WithinOneYear
2023-05-31
06900653
core:AfterOneYear
2023-05-31
06900653
core:ShareCapital
2024-05-31
06900653
core:ShareCapital
2023-05-31
06900653
core:RetainedEarningsAccumulatedLosses
2024-05-31
06900653
core:RetainedEarningsAccumulatedLosses
2023-05-31
06900653
bus:Director1
2023-06-01
2024-05-31
06900653
bus:SmallEntities
2023-06-01
2024-05-31
06900653
bus:AuditExemptWithAccountantsReport
2023-06-01
2024-05-31
06900653
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
06900653
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
06900653
bus:FullAccounts
2023-06-01
2024-05-31
06900653
core:OfficeEquipment
2023-06-01
2024-05-31
06900653
core:OfficeEquipment
2023-05-31
06900653
core:OfficeEquipment
2024-05-31
COMPANY REGISTRATION NUMBER:
06900653
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 May 2024
Fixed assets
Tangible assets |
4 |
2,723 |
1,248 |
|
|
|
|
Current assets
Debtors |
5 |
72,967 |
90,184 |
Cash at bank and in hand |
199,669 |
294,517 |
|
--------- |
--------- |
|
272,636 |
384,701 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
150,193 |
195,454 |
|
--------- |
--------- |
Net current assets |
122,443 |
189,247 |
|
--------- |
--------- |
Total assets less current liabilities |
125,166 |
190,495 |
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
– |
18,250 |
|
--------- |
--------- |
Net assets |
125,166 |
172,245 |
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
200 |
200 |
Profit and loss account |
124,966 |
172,045 |
|
--------- |
--------- |
Shareholders funds |
125,166 |
172,245 |
|
--------- |
--------- |
|
|
|
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 31 May 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 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 financial statements
.
Statement of Financial Position (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
6 January 2025
, and are signed on behalf of the board by:
MR G T EDWARDS Director
Company registration number:
06900653
Year ended 31 May 2024
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. Fees are recognised when the right to consideration has arisen through the performance of each assignment undertaken. Consideration accrues as the assignment progresses by reference to the value of the work performed. Fees which had not been invoiced at the year end date are shown as unbilled debtors.
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.
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:
|
Equipment |
- |
33% 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.
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.
Notes to the Financial Statements |
|
Year ended 31 May 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 Quadrant House, 20 Broad Street Mall, Reading, Berkshire, RG1 7QE.
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.
Particulars of employees
The average number of persons employed by the company during the year amounted to
5
(2023:
5
).
4.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 1 June 2023 |
22,360 |
Additions |
3,753 |
|
-------- |
At 31 May 2024 |
26,113 |
|
-------- |
Depreciation |
|
At 1 June 2023 |
21,112 |
Charge for the year |
2,278 |
|
-------- |
At 31 May 2024 |
23,390 |
|
-------- |
Carrying amount |
|
At 31 May 2024 |
2,723 |
|
-------- |
At 31 May 2023 |
1,248 |
|
-------- |
|
|
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
12,585 |
88,536 |
Other debtors |
60,382 |
1,648 |
|
-------- |
-------- |
|
72,967 |
90,184 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
18,250 |
18,250 |
Trade creditors |
14,838 |
77,048 |
Social security and other taxes |
78,719 |
68,551 |
Other creditors |
38,386 |
31,605 |
|
--------- |
--------- |
|
150,193 |
195,454 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
– |
18,250 |
|
---- |
-------- |
|
|
|
8.
Other financial commitments
The company had total financial commitments at the year end of £28,709 (2023 - £35,648).
9.
Directors' advances, credits and guarantees
The directors owed the company £30,000 as at 31 May 2024. This was repaid in full within nine months of the year end.