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No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2024 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
00158096
2023-07-01
2024-06-30
00158096
2024-06-30
00158096
2023-06-30
00158096
2022-07-01
2023-06-30
00158096
2023-06-30
00158096
2022-06-30
00158096
core:FurnitureFittings
2023-07-01
2024-06-30
00158096
bus:Director3
2023-07-01
2024-06-30
00158096
core:FurnitureFittings
2023-06-30
00158096
core:LandBuildings
2024-06-30
00158096
core:FurnitureFittings
2024-06-30
00158096
core:WithinOneYear
2024-06-30
00158096
core:WithinOneYear
2023-06-30
00158096
core:ShareCapital
2024-06-30
00158096
core:ShareCapital
2023-06-30
00158096
core:SharePremium
2024-06-30
00158096
core:SharePremium
2023-06-30
00158096
core:RevaluationReserve
2024-06-30
00158096
core:RevaluationReserve
2023-06-30
00158096
core:CapitalRedemptionReserve
2024-06-30
00158096
core:CapitalRedemptionReserve
2023-06-30
00158096
core:RetainedEarningsAccumulatedLosses
2024-06-30
00158096
core:RetainedEarningsAccumulatedLosses
2023-06-30
00158096
core:LandBuildings
2023-06-30
00158096
core:FurnitureFittings
2023-06-30
00158096
bus:Director1
2023-07-01
2024-06-30
00158096
bus:SmallEntities
2023-07-01
2024-06-30
00158096
bus:AuditExemptWithAccountantsReport
2023-07-01
2024-06-30
00158096
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
00158096
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
00158096
bus:FullAccounts
2023-07-01
2024-06-30
00158096
core:Land
2024-06-30
00158096
core:Land
2023-06-30
COMPANY REGISTRATION NUMBER:
00158096
Filleted Unaudited Financial Statements |
|
Year ended 30 June 2024
Notes to the financial statements |
3 to 6 |
|
|
30 June 2024
Fixed assets
Tangible assets |
5 |
853,673 |
853,707 |
|
|
|
|
Current assets
Debtors |
6 |
134,394 |
135,046 |
Cash at bank and in hand |
59,837 |
65,154 |
|
--------- |
--------- |
|
194,231 |
200,200 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
64,394 |
66,946 |
|
--------- |
--------- |
Net current assets |
129,837 |
133,254 |
|
--------- |
--------- |
Total assets less current liabilities |
983,510 |
986,961 |
|
|
|
|
Provisions
Taxation including deferred tax |
98,000 |
75,000 |
|
--------- |
--------- |
Net assets |
885,510 |
911,961 |
|
--------- |
--------- |
|
|
|
Capital and reserves
Called up share capital |
13,497 |
13,497 |
Share premium account |
1,345 |
1,345 |
Non-distributable reserve |
384,083 |
407,083 |
Capital redemption reserve |
16,503 |
16,503 |
Profit and loss account |
470,082 |
473,533 |
|
--------- |
--------- |
Shareholders funds |
885,510 |
911,961 |
|
--------- |
--------- |
|
|
|
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 profit and loss account has not been delivered.
For the year ending 30 June 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
.
Balance Sheet (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
17 February 2025
, and are signed on behalf of the board by:
Company registration number:
00158096
Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales, registration number
00158096
. The address of the registered office is Wheelock Mills, Wheelock, Nr Sandbach, Cheshire, CW11 4QH.
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 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. Monetary amounts in these financial statements are rounded to the nearest £.
Judgements and key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: As described in the accounting policies of the financial statements, depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.
Revenue recognition
The turnover shown in the profit and loss account represents rental income and recharged expenses receivable during the year, exclusive of Value Added Tax. Turnover is recognised when the company obtains the right to receive consideration for services provided.
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. 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 material 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.
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:
|
Fixtures and Fittings |
- |
25% straight line |
|
|
|
|
Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost and subsequently remeasured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit and loss in the period in which they arise.
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
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. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal values. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and cash in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Tangible assets
|
Investment Properties |
Fixtures and fittings |
Development land |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 July 2023 and 30 June 2024 |
400,000 |
1,274 |
453,609 |
854,883 |
|
--------- |
------- |
--------- |
--------- |
Depreciation |
|
|
|
|
At 1 July 2023 |
– |
1,176 |
– |
1,176 |
Charge for the year |
– |
34 |
– |
34 |
|
--------- |
------- |
--------- |
--------- |
At 30 June 2024 |
– |
1,210 |
– |
1,210 |
|
--------- |
------- |
--------- |
--------- |
Carrying amount |
|
|
|
|
At 30 June 2024 |
400,000 |
64 |
453,609 |
853,673 |
|
--------- |
------- |
--------- |
--------- |
At 30 June 2023 |
400,000 |
98 |
453,609 |
853,707 |
|
--------- |
------- |
--------- |
--------- |
|
|
|
|
|
The director has valued the investment property at fair value based on judgement and experience.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
65,501 |
64,177 |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
54,426 |
54,747 |
Other debtors |
14,467 |
16,122 |
|
--------- |
--------- |
|
134,394 |
135,046 |
|
--------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
8,796 |
– |
Trade creditors |
1,640 |
5,586 |
Corporation tax |
14,285 |
16,367 |
Social security and other taxes |
16,404 |
13,451 |
Other creditors |
23,269 |
31,542 |
|
-------- |
-------- |
|
64,394 |
66,946 |
|
-------- |
-------- |
|
|
|
8.
Director's advances, credits and guarantees
There is a legal charge dated 22/3/04 in respect of R G Hovey for the amount of £70,000 due or to become due from the company to the chargee, secured by the freehold property of Zan Industrial Park.
9.
Controlling party
The ultimate parent company is Zan Holdings Limited, a company registered in England and Wales. The registered office address is Main Office, Zan Industrial Park, Crewe Road, Wheelock, Sandbach, CW11 4QH.