COMPANY REGISTRATION NUMBER:
06946411
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Statement of Financial Position |
|
30 September 2024
Fixed assets
|
Tangible assets |
5 |
|
2,032,481 |
1,819,042 |
|
Investments |
6 |
|
200,490 |
200,490 |
|
|
------------ |
------------ |
|
|
2,232,971 |
2,019,532 |
|
|
|
|
|
Current assets
|
Stocks |
129,007 |
|
143,411 |
|
Debtors |
398,336 |
|
275,443 |
|
Cash at bank and in hand |
1,452,488 |
|
1,558,294 |
|
------------ |
|
------------ |
|
1,979,831 |
|
1,977,148 |
|
|
|
|
|
Creditors: amounts falling due within one year |
367,501 |
|
430,316 |
|
------------ |
|
------------ |
|
Net current assets |
|
1,612,330 |
1,546,832 |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
3,845,301 |
3,566,364 |
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
34,724 |
28,322 |
|
|
------------ |
------------ |
|
Net assets |
|
3,810,577 |
3,538,042 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
1,000 |
1,000 |
|
Profit and loss account |
|
3,809,577 |
3,537,042 |
|
|
------------ |
------------ |
|
Shareholders funds |
|
3,810,577 |
3,538,042 |
|
|
------------ |
------------ |
|
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
For the year ending 30 September 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 abridged 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 abridged financial statements
.
|
Abridged Statement of Financial Position (continued) |
|
30 September 2024
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 September 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
2 April 2025
, and are signed on behalf of the board by:
Company registration number:
06946411
|
Notes to the Abridged Financial Statements |
|
Year ended 30 September 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 40 Kimbolton Road, Bedford, Bedfordshire, MK40 2NR, England.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
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.
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.
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:
|
Freehold Property |
- |
2% straight line |
|
Plant & Machinery |
- |
25% reducing balance |
|
Fixtures & Fittings |
- |
25% reducing balance |
|
Motor Vehicles |
- |
25% reducing balance |
|
|
|
|
|
Equipment |
- |
25% reducing balance |
|
|
|
|
Demonstration vehicles are not depreciated, as to do so would not be material.
Investments
Heritage assets may be held by the company and held as fixed assets. They are preserved by the company in accordance with the requirement of each asset in order to maintain their value and their working order. The heritage assets are held at cost in the balance sheet, unless circumstances suggest that an impairment has occurred.
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.
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
15
(2023:
17
).