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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
11168174
2023-07-01
2024-06-30
11168174
2024-06-30
11168174
2023-06-30
11168174
2022-07-01
2023-06-30
11168174
2023-06-30
11168174
2022-06-30
11168174
core:PlantMachinery
2023-07-01
2024-06-30
11168174
core:FurnitureFittings
2023-07-01
2024-06-30
11168174
core:MotorVehicles
2023-07-01
2024-06-30
11168174
bus:OrdinaryShareClass1
2023-07-01
2024-06-30
11168174
bus:Director1
2023-07-01
2024-06-30
11168174
bus:Director2
2023-07-01
2024-06-30
11168174
core:WithinOneYear
2024-06-30
11168174
core:WithinOneYear
2023-06-30
11168174
core:AfterOneYear
2023-06-30
11168174
core:ShareCapital
2024-06-30
11168174
core:ShareCapital
2023-06-30
11168174
core:RetainedEarningsAccumulatedLosses
2024-06-30
11168174
core:RetainedEarningsAccumulatedLosses
2023-06-30
11168174
core:CostValuation
core:Non-currentFinancialInstruments
2024-06-30
11168174
core:Non-currentFinancialInstruments
2024-06-30
11168174
core:Non-currentFinancialInstruments
2023-06-30
11168174
bus:SmallEntities
2023-07-01
2024-06-30
11168174
bus:AuditExemptWithAccountantsReport
2023-07-01
2024-06-30
11168174
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
11168174
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
11168174
bus:AbridgedAccounts
2023-07-01
2024-06-30
11168174
bus:OrdinaryShareClass1
2024-06-30
11168174
bus:OrdinaryShareClass1
2023-06-30
11168174
core:AllSubsidiaries
2023-07-01
2024-06-30
11168174
core:AllSubsidiaries
2024-06-30
11168174
core:AllSubsidiaries
2023-06-30
COMPANY REGISTRATION NUMBER:
11168174
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year Ended 30 June 2024
Abridged statement of financial position |
1 |
|
|
Notes to the abridged financial statements |
3 |
|
|
Abridged Statement of Financial Position |
|
30 June 2024
Fixed Assets
Tangible assets |
5 |
|
153,498 |
82,498 |
Investments |
6 |
|
216 |
216 |
|
|
--------- |
-------- |
|
|
153,714 |
82,714 |
|
|
|
|
|
Current Assets
Stocks |
2,149,225 |
|
1,092,922 |
Debtors |
4,366,214 |
|
5,164,693 |
Cash at bank and in hand |
672,057 |
|
864,108 |
|
------------ |
|
------------ |
|
7,187,496 |
|
7,121,723 |
|
|
|
|
Creditors: amounts falling due within one year |
1,102,594 |
|
1,198,069 |
|
------------ |
|
------------ |
Net Current Assets |
|
6,084,902 |
5,923,654 |
|
|
------------ |
------------ |
Total Assets Less Current Liabilities |
|
6,238,616 |
6,006,368 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
– |
8,553 |
|
|
|
|
Provisions |
|
38,375 |
20,625 |
|
|
------------ |
------------ |
Net Assets |
|
6,200,241 |
5,977,190 |
|
|
------------ |
------------ |
|
|
|
|
Capital and Reserves
Called up share capital |
8 |
|
100 |
100 |
Profit and loss account |
|
6,200,141 |
5,977,090 |
|
|
------------ |
------------ |
Shareholders Funds |
|
6,200,241 |
5,977,190 |
|
|
------------ |
------------ |
|
|
|
|
|
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 abridged statement of income and retained earnings 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.
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
.
Abridged Statement of Financial Position (continued) |
|
30 June 2024
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 year ending 30 June 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
5 February 2025
, and are signed on behalf of the board by:
Mr S Jones |
Mr S P Jones |
Director |
Director |
|
|
Company registration number:
11168174
Notes to the Abridged Financial Statements |
|
Year Ended 30 June 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 Office 3 Markham Lane, Markham Vale, Chesterfield, S44 5HY.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Revenue is recognised as the fair value of the consideration received or receivable on legal completion of a newly built residential property sale.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
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:
|
Plant and machinery |
- |
25% reducing balance |
|
Fixtures and fittings |
- |
33% straight line |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
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.
Work in progress
Work in progress is stated at the lower of cost and net realisable value. Land with planning includes undeveloped land and land under development and is initially recorded at cost. Work in progress comprises direct materials, labour costs, site overheads, associated professional charges and other attributable overheads. Net realisable value represents the estimated selling prices less all estimated costs of completion and overheads. Regular reviews are carried out to identify any impairment in the value of the land. Provision would be made to reflect any irrecoverable amounts.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
19
(2023:
16
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 July 2023 |
166,765 |
Additions |
124,575 |
|
--------- |
At 30 June 2024 |
291,340 |
|
--------- |
Depreciation |
|
At 1 July 2023 |
84,267 |
Charge for the year |
53,575 |
|
--------- |
At 30 June 2024 |
137,842 |
|
--------- |
Carrying amount |
|
At 30 June 2024 |
153,498 |
|
--------- |
At 30 June 2023 |
82,498 |
|
--------- |
|
|
6.
Investments
|
£ |
Cost |
|
At 1 July 2023 and 30 June 2024 |
216 |
|
---- |
Impairment |
|
At 1 July 2023 and 30 June 2024 |
– |
|
---- |
Carrying amount |
|
At 30 June 2024 |
216 |
|
---- |
At 30 June 2023 |
216 |
|
---- |
|
|
7.
Securities
There is a legal charge, incorporating a fixed and floating charge, over the properties and assets owned by the company and its group.
8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
9.
Related party transactions
During the year the company made/(received) short term loans to related parties. The balance outstanding due from/(to) related parties at 30 June 2024 are as follows:
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Amounts due from entities of which the entity has control |
4,080,449 |
4,908,572 |
|
Amounts due from entities under common control |
183,391 |
199,437 |
|
Amounts due to entities under common control |
– |
(
122,500) |
|
|
|
|
The loans are unsecured, interest free and repayable on demand.