COMPANY REGISTRATION NUMBER:
15086461
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 August 2024
Fixed assets
|
Intangible assets |
5 |
192,052 |
|
Tangible assets |
6 |
104,322 |
|
--------- |
|
296,374 |
|
|
|
Current assets
|
Stocks |
3,562 |
|
Cash at bank and in hand |
19,891 |
|
-------- |
|
23,453 |
|
|
|
Creditors: amounts falling due within one year |
7 |
411,075 |
|
--------- |
|
Net current liabilities |
387,622 |
|
--------- |
|
Total assets less current liabilities |
(
91,248) |
|
-------- |
|
Net liabilities |
(
91,248) |
|
-------- |
|
|
|
Capital and reserves
|
Called up share capital |
100 |
|
Profit and loss account |
(
91,348) |
|
-------- |
|
Shareholders deficit |
(
91,248) |
|
-------- |
|
|
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 income statement has not been delivered.
For the year ending 31 August 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) |
|
31 August 2024
These financial statements were approved by the
board of directors
and authorised for issue on
18 March 2025
, and are signed on behalf of the board by:
Company registration number:
15086461
|
Notes to the Financial Statements |
|
Year ended 31 August 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 The Old Mill, 9 Soar Lane, Leicester, LE3 5DE.
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.
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.
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.
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:
|
Goodwill |
- |
10% 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.
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:
|
Fixtures and fittings |
- |
20% 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.
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.
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
13
.
5.
Intangible assets
|
Goodwill |
|
£ |
|
Cost |
|
|
Additions |
213,391 |
|
--------- |
|
At 31 August 2024 |
213,391 |
|
--------- |
|
Amortisation |
|
|
Charge for the year |
21,339 |
|
--------- |
|
At 31 August 2024 |
21,339 |
|
--------- |
|
Carrying amount |
|
|
At 31 August 2024 |
192,052 |
|
--------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
|
£ |
|
Cost |
|
|
At 1 September 2023 |
– |
|
Additions |
112,192 |
|
--------- |
|
At 31 August 2024 |
112,192 |
|
--------- |
|
Depreciation |
|
|
At 1 September 2023 |
– |
|
Charge for the year |
7,870 |
|
--------- |
|
At 31 August 2024 |
7,870 |
|
--------- |
|
Carrying amount |
|
|
At 31 August 2024 |
104,322 |
|
--------- |
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
|
£ |
|
Trade creditors |
7,132 |
|
Social security and other taxes |
15,521 |
|
Other creditors |
388,422 |
|
--------- |
|
411,075 |
|
--------- |
|
|
8.
Going concern
The company's liabilities exceed it's assets at 31 August 2024 by £91,248. However, the directors and shareholders have confirmed that they will continue to financially support the company for the forseable future to ensure it meets all it's financial obligations. The directors therefore consider that the financial statements have been correctly prepared on a going concern basis.