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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
50,099
309
50,408
38,210
3,049
41,259
9,149
11,889
xbrli:pure
xbrli:shares
iso4217:GBP
09941670
2023-04-01
2024-03-31
09941670
2024-03-31
09941670
2023-03-31
09941670
2022-04-01
2023-03-31
09941670
2023-03-31
09941670
2022-03-31
09941670
core:PlantMachinery
2023-04-01
2024-03-31
09941670
bus:Director1
2023-04-01
2024-03-31
09941670
core:PlantMachinery
2023-03-31
09941670
core:PlantMachinery
2024-03-31
09941670
core:WithinOneYear
2024-03-31
09941670
core:WithinOneYear
2023-03-31
09941670
core:AfterOneYear
2024-03-31
09941670
core:AfterOneYear
2023-03-31
09941670
core:ShareCapital
2024-03-31
09941670
core:ShareCapital
2023-03-31
09941670
core:RetainedEarningsAccumulatedLosses
2024-03-31
09941670
core:RetainedEarningsAccumulatedLosses
2023-03-31
09941670
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
09941670
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-03-31
09941670
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
09941670
core:Non-currentFinancialInstruments
2024-03-31
09941670
core:Non-currentFinancialInstruments
2023-03-31
09941670
core:PlantMachinery
2023-03-31
09941670
bus:SmallEntities
2023-04-01
2024-03-31
09941670
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
09941670
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
09941670
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
09941670
bus:FullAccounts
2023-04-01
2024-03-31
COMPANY REGISTRATION NUMBER:
09941670
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2024
Fixed assets
Tangible assets |
5 |
|
9,149 |
11,889 |
Investments |
6 |
|
44,578 |
3,329 |
|
|
--------- |
--------- |
|
|
53,727 |
15,218 |
|
|
|
|
|
Current assets
Debtors |
7 |
1,920,867 |
|
1,034,137 |
Cash at bank and in hand |
10,838 |
|
2,799 |
|
------------- |
|
------------- |
|
1,931,705 |
|
1,036,936 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
1,762,128 |
|
860,924 |
|
------------- |
|
------------- |
Net current assets |
|
169,577 |
176,012 |
|
|
---------- |
---------- |
Total assets less current liabilities |
|
223,304 |
191,230 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
17,500 |
26,667 |
|
|
---------- |
---------- |
Net assets |
|
205,804 |
164,563 |
|
|
---------- |
---------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
100 |
Profit and loss account |
|
205,704 |
164,463 |
|
|
---------- |
---------- |
Shareholders funds |
|
205,804 |
164,563 |
|
|
---------- |
---------- |
|
|
|
|
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 31 March 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
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
28 March 2025
, and are signed on behalf of the board by:
Company registration number:
09941670
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 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 Cayuga House, 2a Addison Road, Hove, BN3 1TN.
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.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's directors.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.
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.
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 |
- |
25% reducing balance |
|
|
|
|
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
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
1
(2023:
1
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
Cost |
|
At 1 April 2023 |
50,099 |
Additions |
309 |
|
--------- |
At 31 March 2024 |
50,408 |
|
--------- |
Depreciation |
|
At 1 April 2023 |
38,210 |
Charge for the year |
3,049 |
|
--------- |
At 31 March 2024 |
41,259 |
|
--------- |
Carrying amount |
|
At 31 March 2024 |
9,149 |
|
--------- |
At 31 March 2023 |
11,889 |
|
--------- |
|
|
6.
Investments
|
Shares in participating interests |
Other investments other than loans |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 April 2023 |
3,329 |
– |
3,329 |
Additions |
375 |
40,874 |
41,249 |
|
------- |
--------- |
--------- |
At 31 March 2024 |
3,704 |
40,874 |
44,578 |
|
------- |
--------- |
--------- |
Impairment |
|
|
|
At 1 April 2023 and 31 March 2024 |
– |
– |
– |
|
------- |
--------- |
--------- |
|
|
|
|
Carrying amount |
|
|
|
At 31 March 2024 |
3,704 |
40,874 |
44,578 |
|
------- |
--------- |
--------- |
At 31 March 2023 |
3,329 |
– |
3,329 |
|
------- |
--------- |
--------- |
|
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1,130,434 |
313,007 |
Other debtors |
790,433 |
721,130 |
|
------------- |
------------- |
|
1,920,867 |
1,034,137 |
|
------------- |
------------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
10,000 |
10,000 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1,306,353 |
710,295 |
Other creditors |
445,775 |
140,629 |
|
------------- |
---------- |
|
1,762,128 |
860,924 |
|
------------- |
---------- |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Bank loans and overdrafts |
17,500 |
26,667 |
|
--------- |
--------- |
|
|
|
10.
Director's advances, credits and guarantees
Included within other debtors is an overdrawn directors loan account of £Nil(2023: £150,467) at 31 March 2024 which was repaid in April 2024.