10
false
false
false
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No description of principal activity
2023-06-01
Sage Accounts Production Advanced 2024 - FRS102_2024
30,453
5,982
36,435
13,279
4,633
17,912
18,523
17,174
xbrli:pure
xbrli:shares
iso4217:GBP
12024731
2023-06-01
2024-05-31
12024731
2024-05-31
12024731
2023-05-31
12024731
2022-06-01
2023-05-31
12024731
2023-05-31
12024731
2022-05-31
12024731
core:FurnitureFittings
2023-06-01
2024-05-31
12024731
bus:Director1
2023-06-01
2024-05-31
12024731
core:FurnitureFittings
2023-05-31
12024731
core:FurnitureFittings
2024-05-31
12024731
core:WithinOneYear
2024-05-31
12024731
core:WithinOneYear
2023-05-31
12024731
core:AfterOneYear
2024-05-31
12024731
core:AfterOneYear
2023-05-31
12024731
core:ShareCapital
2024-05-31
12024731
core:ShareCapital
2023-05-31
12024731
core:RetainedEarningsAccumulatedLosses
2024-05-31
12024731
core:RetainedEarningsAccumulatedLosses
2023-05-31
12024731
core:FurnitureFittings
2023-05-31
12024731
bus:SmallEntities
2023-06-01
2024-05-31
12024731
bus:AuditExemptWithAccountantsReport
2023-06-01
2024-05-31
12024731
bus:SmallCompaniesRegimeForAccounts
2023-06-01
2024-05-31
12024731
bus:PrivateLimitedCompanyLtd
2023-06-01
2024-05-31
12024731
bus:FullAccounts
2023-06-01
2024-05-31
COMPANY REGISTRATION NUMBER:
12024731
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 May 2024
Fixed assets
Tangible assets |
5 |
18,523 |
17,174 |
|
|
|
|
Current assets
Stocks |
2,500 |
2,256 |
Debtors |
6 |
1,438 |
3,132 |
Cash at bank and in hand |
10,229 |
4,133 |
|
-------- |
------- |
|
14,167 |
9,521 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
86,713 |
47,874 |
|
-------- |
-------- |
Net current liabilities |
72,546 |
38,353 |
|
-------- |
-------- |
Total assets less current liabilities |
(
54,023) |
(
21,179) |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
(
2,000) |
(
3,990) |
|
-------- |
-------- |
Net liabilities |
(
56,023) |
(
25,169) |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
(
56,025) |
(
25,171) |
|
-------- |
-------- |
Shareholders deficit |
(
56,023) |
(
25,169) |
|
-------- |
-------- |
|
|
|
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 comprehensive income 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
25 February 2025
, and are signed on behalf of the board by:
Mrs D M Christie-Hall |
Director |
|
Company registration number:
12024731
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 Estuary Lodge Motel, High Street, Talsarnau, Gwynedd, LL47 6TA.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern The directors have reviewed a period of 12 months from the date of approval of these financial statements and have confirmed their willingness to retain their loan in the company to enable it to meet all its liabilities as they fall due. As a result, it is appropriate to prepare these accounts on a going concern basis.
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. Revenue is recognised when 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.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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 |
- |
20% reducing balance |
|
|
|
|
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity 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. Debt instruments are subsequently measured at amortised cost.
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
10
(2023:
5
).
5.
Tangible assets
|
Fixtures and fittings |
|
£ |
Cost |
|
At 1 June 2023 |
30,453 |
Additions |
5,982 |
|
-------- |
At 31 May 2024 |
36,435 |
|
-------- |
Depreciation |
|
At 1 June 2023 |
13,279 |
Charge for the year |
4,633 |
|
-------- |
At 31 May 2024 |
17,912 |
|
-------- |
Carrying amount |
|
At 31 May 2024 |
18,523 |
|
-------- |
At 31 May 2023 |
17,174 |
|
-------- |
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
1,438 |
3,132 |
|
------- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
2,000 |
2,000 |
Trade creditors |
7,420 |
– |
Social security and other taxes |
4,406 |
3,399 |
Other creditors |
72,887 |
42,475 |
|
-------- |
-------- |
|
86,713 |
47,874 |
|
-------- |
-------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
2,000 |
3,990 |
|
------- |
------- |
|
|
|
9.
Directors' advances, credits and guarantees
There were no director advances, credits or guarantees during the year.