2
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false
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No description of principal activity
2023-07-01
Sage Accounts Production Advanced 2024 - FRS102_2024
53,500
53,500
14,628
6,398
8,230
8,230
xbrli:pure
xbrli:shares
iso4217:GBP
06767231
2023-07-01
2024-06-30
06767231
2024-06-30
06767231
2023-06-30
06767231
2022-01-01
2023-06-30
06767231
2023-06-30
06767231
2021-12-31
06767231
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-07-01
2024-06-30
06767231
core:PlantMachinery
2023-07-01
2024-06-30
06767231
bus:OrdinaryShareClass1
2023-07-01
2024-06-30
06767231
bus:Director2
2023-07-01
2024-06-30
06767231
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2024-06-30
06767231
core:PlantMachinery
2024-06-30
06767231
core:WithinOneYear
2024-06-30
06767231
core:WithinOneYear
2023-06-30
06767231
core:ShareCapital
2024-06-30
06767231
core:ShareCapital
2023-06-30
06767231
core:RetainedEarningsAccumulatedLosses
2024-06-30
06767231
core:RetainedEarningsAccumulatedLosses
2023-06-30
06767231
core:PlantMachinery
2023-06-30
06767231
bus:Director1
2023-07-01
2024-06-30
06767231
bus:SmallEntities
2023-07-01
2024-06-30
06767231
bus:AuditExemptWithAccountantsReport
2023-07-01
2024-06-30
06767231
bus:SmallCompaniesRegimeForAccounts
2023-07-01
2024-06-30
06767231
bus:PrivateLimitedCompanyLtd
2023-07-01
2024-06-30
06767231
bus:FullAccounts
2023-07-01
2024-06-30
06767231
bus:OrdinaryShareClass1
2024-06-30
06767231
bus:OrdinaryShareClass1
2023-06-30
06767231
core:AccountingPolicyChangeIncreaseDecrease
bus:Director2
2023-07-01
2024-06-30
COMPANY REGISTRATION NUMBER:
06767231
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
30 June 2024
Fixed assets
Tangible assets |
6 |
|
8,230 |
8,230 |
|
|
|
|
|
Current assets
Debtors |
7 |
6,390 |
|
84,015 |
Cash at bank and in hand |
1 |
|
806 |
|
------ |
|
------- |
|
6,391 |
|
84,821 |
|
|
|
|
|
Prepayments and accrued income |
– |
|
1,871 |
|
|
|
|
Creditors: amounts falling due within one year |
8 |
14,339 |
|
62,908 |
|
------- |
|
------- |
Net current (liabilities)/assets |
|
(
7,948) |
23,784 |
|
|
------ |
------- |
Total assets less current liabilities |
|
282 |
32,014 |
|
|
---- |
------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
9 |
|
100 |
100 |
Profit and loss account |
|
182 |
31,914 |
|
|
---- |
------- |
Shareholders funds |
|
282 |
32,014 |
|
|
---- |
------- |
|
|
|
|
|
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.
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
.
These financial statements were approved by the
board of directors
and authorised for issue on
17 March 2025
, and are signed on behalf of the board by:
Company registration number:
06767231
Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered and trading in England and Wales with company number
06767231
. The address of the registered office is 48 Merganser Drive, Bicester, Oxfordshire, England, OX26 6UG.
2.
Statement of compliance
The financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS102') and Companies Act 2006.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical 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 company and rounded to the nearest £.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Intellectual property |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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:
|
Plant and machinery |
- |
15% reducing balance |
|
|
|
|
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2023:
2
).
5.
Intangible assets
|
Intellectual property |
|
£ |
Cost |
|
At 1 July 2023 and 30 June 2024 |
53,500 |
|
------- |
Amortisation |
|
At 1 July 2023 and 30 June 2024 |
53,500 |
|
------- |
Carrying amount |
|
At 30 June 2024 |
– |
|
------- |
At 30 June 2023 |
– |
|
------- |
|
|
6.
Tangible assets
|
Plant and machinery |
Total |
|
£ |
£ |
Cost |
|
|
At 1 July 2023 and 30 June 2024 |
14,628 |
14,628 |
|
------- |
------- |
Depreciation |
|
|
At 1 July 2023 and 30 June 2024 |
6,398 |
6,398 |
|
------- |
------- |
Carrying amount |
|
|
At 30 June 2024 |
8,230 |
8,230 |
|
------- |
------- |
At 30 June 2023 |
8,230 |
8,230 |
|
------- |
------- |
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Other debtors |
6,390 |
84,015 |
|
------ |
------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
44 |
– |
Social security and other taxes |
– |
540 |
Other creditors |
14,295 |
62,368 |
|
------- |
------- |
|
14,339 |
62,908 |
|
------- |
------- |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
10.
Director's advances, credits and guarantees
At the reporting date the directors loan account was in credit by £12,877 (2023: (£75,683)). There is no fixed term for repayment and no interest is charged. Transactions during the year can be summarised as follows:
|
|
2024 |
|
|
£ |
|
Opening Balance Brought Forward |
(75,683) |
|
Net Advance/Repayments (0% Interest) |
88,560 |
|
Closing Balance Carried Forward |
12,877 |
|
|
|
11.
Related party transactions
The company was under the control of D. Baker and R. M. Smith during the current and previous period.