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No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
10,000
10,000
10,000
xbrli:pure
xbrli:shares
iso4217:GBP
03819495
2024-01-01
2024-12-31
03819495
2024-12-31
03819495
2023-12-31
03819495
2023-01-01
2023-12-31
03819495
2023-12-31
03819495
2022-12-31
03819495
bus:OrdinaryShareClass1
2024-01-01
2024-12-31
03819495
bus:Director1
2024-01-01
2024-12-31
03819495
core:WithinOneYear
2024-12-31
03819495
core:WithinOneYear
2023-12-31
03819495
core:ShareCapital
2024-12-31
03819495
core:ShareCapital
2023-12-31
03819495
core:RetainedEarningsAccumulatedLosses
2024-12-31
03819495
core:RetainedEarningsAccumulatedLosses
2023-12-31
03819495
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
03819495
core:Non-currentFinancialInstruments
2024-12-31
03819495
core:Non-currentFinancialInstruments
2023-12-31
03819495
bus:SmallEntities
2024-01-01
2024-12-31
03819495
bus:AuditExempt-NoAccountantsReport
2024-01-01
2024-12-31
03819495
bus:SmallCompaniesRegimeForAccounts
2024-01-01
2024-12-31
03819495
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
03819495
bus:FullAccounts
2024-01-01
2024-12-31
03819495
bus:OrdinaryShareClass1
2024-12-31
03819495
bus:OrdinaryShareClass1
2023-12-31
03819495
core:EntitiesControlledByKeyManagementPersonnel
2024-01-01
2024-12-31
COMPANY REGISTRATION NUMBER:
03819495
Filleted Unaudited Accounts |
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
Investments |
4 |
|
10,000 |
10,000 |
|
|
|
|
|
Current assets
Debtors |
5 |
114,921 |
|
140,296 |
Investments |
6 |
874,600 |
|
906,600 |
Cash at bank and in hand |
25,439 |
|
41,930 |
|
------------ |
|
------------ |
|
1,014,960 |
|
1,088,826 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
248,901) |
|
(
250,855) |
|
------------ |
|
------------ |
Net current assets |
|
766,059 |
837,971 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
776,059 |
847,971 |
|
|
--------- |
--------- |
Net assets |
|
776,059 |
847,971 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
8 |
|
50 |
50 |
Profit and loss account |
|
776,009 |
847,921 |
|
|
--------- |
--------- |
Shareholders funds |
|
776,059 |
847,971 |
|
|
--------- |
--------- |
|
|
|
|
|
These accounts 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 31 December 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 accounts 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 accounts
.
Statement of Financial Position (continued) |
|
31 December 2024
These accounts were approved by the
board of directors
and authorised for issue on
27 March 2025
, and are signed on behalf of the board by:
Company registration number:
03819495
Year ended 31 December 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 7 Cotman Close, London, NW11 6QD.
2.
Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors consider the company to be a going concern on the basis that it has sufficient resources to meet its future debt obligations and has the continuing operational and financial support of the directors.
Consolidation
The company has taken advantage of the option not to prepare consolidated accounts contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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 management services supplied to its subsidiary company, net of Value Added Tax, plus amounts receivable from current asset investment returns in the form of dividends and interest.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
4.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 January 2024 and 31 December 2024 |
10,000 |
|
-------- |
Impairment |
|
At 1 January 2024 and 31 December 2024 |
– |
|
-------- |
|
|
Carrying amount |
|
At 31 December 2024 |
10,000 |
|
-------- |
At 31 December 2023 |
10,000 |
|
-------- |
|
|
The company owns 100% of the issued share capital of International Fiscal Services Ltd.
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
19,625 |
– |
Other debtors |
95,296 |
140,296 |
|
--------- |
--------- |
|
114,921 |
140,296 |
|
--------- |
--------- |
|
|
|
6.
Investments
|
2024 |
2023 |
|
£ |
£ |
Other investments |
874,600 |
906,600 |
|
--------- |
--------- |
|
|
|
The above consists of an investment portfolio held for the short term and considered available for sale.
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
– |
20,375 |
Corporation tax |
36,401 |
27,980 |
Other creditors |
212,500 |
202,500 |
|
--------- |
--------- |
|
248,901 |
250,855 |
|
--------- |
--------- |
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
50 |
50 |
50 |
50 |
|
---- |
---- |
---- |
---- |
|
|
|
|
|
9.
Directors' advances, credits and guarantees
Throughout the year the company was in receipt of a short term advance from the directors. The balance owing to the directors at the year-end date was £210,000 (2023: £200,000) and is reported within other creditors. The advance is considered repayable on demand and is interest free.
10.
Related party transactions
During the year the company paid the short term advance made in the prior period by its subsidiary of £20,375. The company subsequently issued a short term advance to its subsidiary of £19,625 which remained outstanding at the balance sheet date. The company continued to provide a short term advance to related company IBSA Ltd. At the balance sheet date the amount owing was £95,296 (2023: £140,296). Both of the above are interest free and considered repayable on demand.
No other transactions with related parties were undertaken such as are required to be disclosed under the Financial Reporting Standard 102 Section 1A.
11.
Controlling party
The company was under the joint control of
Mr M R Saunders
and Mrs S R Saunders, throughout the current and previous year, by virtue of their equal shareholding in the company.