40
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2024 - FRS102_2024
220,000
220,000
xbrli:pure
xbrli:shares
iso4217:GBP
05152335
2023-07-01
2024-06-30
05152335
2024-06-30
05152335
2023-06-30
05152335
2022-07-01
2023-06-30
05152335
2023-06-30
05152335
2022-06-30
05152335
core:NetGoodwill
2023-07-01
2024-06-30
05152335
bus:Director1
2023-07-01
2024-06-30
05152335
core:NetGoodwill
2024-06-30
05152335
core:LandBuildings
2023-06-30
05152335
core:FurnitureFittings
2023-06-30
05152335
core:LandBuildings
2024-06-30
05152335
core:FurnitureFittings
2024-06-30
05152335
core:LandBuildings
2023-07-01
2024-06-30
05152335
core:FurnitureFittings
2023-07-01
2024-06-30
05152335
core:WithinOneYear
2024-06-30
05152335
core:WithinOneYear
2023-06-30
05152335
core:AfterOneYear
2024-06-30
05152335
core:AfterOneYear
2023-06-30
05152335
core:ShareCapital
2024-06-30
05152335
core:ShareCapital
2023-06-30
05152335
core:SharePremium
2024-06-30
05152335
core:SharePremium
2023-06-30
05152335
core:RetainedEarningsAccumulatedLosses
2024-06-30
05152335
core:RetainedEarningsAccumulatedLosses
2023-06-30
05152335
core:LandBuildings
2023-06-30
05152335
core:FurnitureFittings
2023-06-30
05152335
bus:SmallEntities
2023-07-01
2024-06-30
05152335
bus:AuditExemptWithAccountantsReport
2023-07-01
2024-06-30
05152335
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
05152335
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
05152335
bus:FullAccounts
2023-07-01
2024-06-30
05152335
core:AfterOneYear
2023-07-01
2024-06-30
05152335
bus:Director1
1
2023-07-01
2024-06-30
05152335
core:KeyManagementPersonnel
2023-07-01
2024-06-30
COMPANY REGISTRATION NUMBER:
05152335
Filleted Unaudited Financial Statements |
|
Year ended 30 June 2024
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Statement of Financial Position |
|
30 June 2024
Fixed assets
Tangible assets |
6 |
|
735,675 |
752,218 |
|
|
|
|
|
Current assets
Stocks |
1,000 |
|
1,000 |
Debtors |
7 |
2,076 |
|
6,751 |
Cash at bank and in hand |
697 |
|
2,007 |
|
------- |
|
------- |
|
3,773 |
|
9,758 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
172,949 |
|
161,254 |
|
--------- |
|
--------- |
Net current liabilities |
|
169,176 |
151,496 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
566,499 |
600,722 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
327,593 |
365,715 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
1,669 |
1,030 |
|
|
--------- |
--------- |
Net assets |
|
237,237 |
233,977 |
|
|
--------- |
--------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
400 |
400 |
Share premium account |
|
74,975 |
74,975 |
Profit and loss account |
|
161,862 |
158,602 |
|
|
--------- |
--------- |
Shareholders funds |
|
237,237 |
233,977 |
|
|
--------- |
--------- |
|
|
|
|
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 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 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) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
27 February 2025
, and are signed on behalf of the board by:
Company registration number:
05152335
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. The address of the registered office is Garland House, 2 Garland Road, Southborough, Tunbridge Wells, Kent, TN4 0NR, United Kingdom.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciation is calculated so as to write off the value of an asset, less its estimated residual value, over the useful economic value of that asset as follows: Land and buildings - 50 years straight line Fixtures and Fittings - 15% 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.
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.
Government grants
Government grants are recognised using the accrual model and the performance model. Under the accrual modal, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses of losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. 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 profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
40
(2023:
35
).
5.
Intangible assets
|
Goodwill |
|
£ |
Cost |
|
At 1 July 2023 and 30 June 2024 |
220,000 |
|
--------- |
Amortisation |
|
At 1 July 2023 and 30 June 2024 |
220,000 |
|
--------- |
Carrying amount |
|
At 30 June 2024 |
– |
|
--------- |
At 30 June 2023 |
– |
|
--------- |
|
|
6.
Tangible assets
|
Land and buildings |
Fixtures and fittings |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 July 2023 |
1,012,098 |
54,328 |
1,066,426 |
Additions |
– |
2,394 |
2,394 |
|
------------ |
-------- |
------------ |
At 30 June 2024 |
1,012,098 |
56,722 |
1,068,820 |
|
------------ |
-------- |
------------ |
Depreciation |
|
|
|
At 1 July 2023 |
268,912 |
45,296 |
314,208 |
Charge for the year |
16,242 |
2,695 |
18,937 |
|
------------ |
-------- |
------------ |
At 30 June 2024 |
285,154 |
47,991 |
333,145 |
|
------------ |
-------- |
------------ |
Carrying amount |
|
|
|
At 30 June 2024 |
726,944 |
8,731 |
735,675 |
|
------------ |
-------- |
------------ |
At 30 June 2023 |
743,186 |
9,032 |
752,218 |
|
------------ |
-------- |
------------ |
|
|
|
|
Land and buildings includes £200,000 of land which is not being depreciated.
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
2,076 |
6,751 |
|
------- |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
45,434 |
55,038 |
Corporation tax |
51,141 |
33,850 |
Social security and other taxes |
7,146 |
6,213 |
Other creditors |
69,228 |
66,153 |
|
--------- |
--------- |
|
172,949 |
161,254 |
|
--------- |
--------- |
|
|
|
The bank loans disclosed under creditors falling due within one year are secured by the company.
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
327,593 |
365,715 |
|
--------- |
--------- |
|
|
|
The bank loans disclosed under creditors falling due after more than one year are secured by the company.
10.
Directors' advances, credits and guarantees
During the year there were advances made to the directors of £140,000 (2023: £122,611). During the year the directors made repayments of £145,500 (2023: £117,764). Interest was charged at 2.25% (2023: 2.5%) on the overdrawn amounts.
11.
Related party transactions
At the year end the Directors were owed £579 by the company (2023: the directors owed £5,500 to the company).