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No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2024 - FRS102_2024
xbrli:pure
xbrli:shares
iso4217:GBP
00176131
2024-01-01
2024-12-31
00176131
2024-12-31
00176131
2023-12-31
00176131
2023-01-01
2023-12-31
00176131
2023-12-31
00176131
2022-12-31
00176131
core:PlantMachinery
2024-01-01
2024-12-31
00176131
core:FurnitureFittings
2024-01-01
2024-12-31
00176131
core:MotorVehicles
2024-01-01
2024-12-31
00176131
bus:Director2
2024-01-01
2024-12-31
00176131
core:PlantMachinery
2023-12-31
00176131
core:FurnitureFittings
2023-12-31
00176131
core:MotorVehicles
2023-12-31
00176131
core:LandBuildings
2024-12-31
00176131
core:PlantMachinery
2024-12-31
00176131
core:FurnitureFittings
2024-12-31
00176131
core:MotorVehicles
2024-12-31
00176131
core:WithinOneYear
2024-12-31
00176131
core:WithinOneYear
2023-12-31
00176131
core:AfterOneYear
2024-12-31
00176131
core:AfterOneYear
2023-12-31
00176131
core:ShareCapital
2024-12-31
00176131
core:ShareCapital
2023-12-31
00176131
core:RetainedEarningsAccumulatedLosses
2024-12-31
00176131
core:RetainedEarningsAccumulatedLosses
2023-12-31
00176131
core:LandBuildings
2023-12-31
00176131
core:PlantMachinery
2023-12-31
00176131
core:MotorVehicles
2023-12-31
00176131
bus:Director1
2024-01-01
2024-12-31
00176131
bus:SmallEntities
2024-01-01
2024-12-31
00176131
bus:AuditExemptWithAccountantsReport
2024-01-01
2024-12-31
00176131
bus:SmallCompaniesRegimeForAccounts
2024-01-01
2024-12-31
00176131
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
00176131
bus:FullAccounts
2024-01-01
2024-12-31
00176131
core:Buildings
2024-12-31
00176131
core:Buildings
2023-12-31
COMPANY REGISTRATION NUMBER:
00176131
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 2024
Statement of financial position |
1 to 2 |
|
|
Notes to the financial statements |
3 to 7 |
|
|
STATEMENT OF FINANCIAL POSITION |
|
31 December 2024
Fixed assets
Tangible assets |
5 |
|
1,197,710 |
1,200,086 |
|
|
|
|
|
Current assets
Stocks |
4,798 |
|
6,693 |
Debtors |
6 |
3,125 |
|
7,046 |
Cash at bank and in hand |
46,055 |
|
83,093 |
|
-------- |
|
-------- |
|
53,978 |
|
96,832 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
151,098 |
|
184,118 |
|
--------- |
|
--------- |
Net current liabilities |
|
97,120 |
87,286 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,100,590 |
1,112,800 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
150,000 |
150,000 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
136,867 |
137,027 |
|
|
------------ |
------------ |
Net assets |
|
813,723 |
825,773 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
6,000 |
6,000 |
Profit and loss account |
|
807,723 |
819,773 |
|
|
--------- |
--------- |
Shareholders funds |
|
813,723 |
825,773 |
|
|
--------- |
--------- |
|
|
|
|
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 comprehensive income 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.
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 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
15 April 2025
, and are signed on behalf of the board by:
Company registration number:
00176131
NOTES TO THE FINANCIAL STATEMENTS |
|
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 33 Alma Road, Sidcup, Kent, DA14 4ED, United Kingdom.
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.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each reporting date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Statement of cash flows
The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.
Going concern
The company is dependent upon its director for its working capital requirements. The director has supported the company by making available to it finance via the director's loan account. The financial statements have been drawn up on a going concern basis as it is the director's intention to continue to support the company for the foreseeable future.
Judgements and key sources of estimation uncertainty
The determination of the fair value of the investment property represents a significant estimate in the financial statements. In the directors' opinion the methods used to determine the fair value of investment property are appropriate and they feel the risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year is low.
Revenue recognition
Revenue refers to the revenue earned from the Company's principal activity; coal and heating fuel merchants and haulage contracts. The revenue shown in the statement of comprehensive income represents amounts invoiced during the year, exclusive of Value Added Tax.
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.
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 & machinery |
- |
15% reducing balance |
|
Fixtures & fittings |
- |
15% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
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.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2023:
1
).
5.
Tangible assets
|
Land and buildings |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Investment Properties |
Total |
|
£ |
£ |
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
|
|
At 1 Jan 2024 and 31 Dec 2024 |
262,500 |
2,000 |
136 |
29,950 |
925,000 |
1,219,586 |
|
--------- |
------- |
---- |
-------- |
--------- |
------------ |
Depreciation |
|
|
|
|
|
|
At 1 Jan 2024 |
– |
1,813 |
136 |
17,551 |
– |
19,500 |
Charge for the year |
– |
47 |
– |
2,329 |
– |
2,376 |
|
--------- |
------- |
---- |
-------- |
--------- |
------------ |
At 31 Dec 2024 |
– |
1,860 |
136 |
19,880 |
– |
21,876 |
|
--------- |
------- |
---- |
-------- |
--------- |
------------ |
Carrying amount |
|
|
|
|
|
|
At 31 Dec 2024 |
262,500 |
140 |
– |
10,070 |
925,000 |
1,197,710 |
|
--------- |
------- |
---- |
-------- |
--------- |
------------ |
At 31 Dec 2023 |
262,500 |
187 |
– |
12,399 |
925,000 |
1,200,086 |
|
--------- |
------- |
---- |
-------- |
--------- |
------------ |
|
|
|
|
|
|
|
The investment property is valued on a fair value basis by the Director at each reporting date. The Director has used the expertise of a chartered surveyor to help determine the fair value of the investment property at 31st December 2022. It was considered necessary to adjust the carrying amount of the investment property at 31st December 2022. As a result of the fair value adjustment a profit on the fair value adjustment of investment property has been recognised in profit or or loss for the year, in in line with the company's investment property accounting policy. The aggregate historical cost of the company's investment property is £540.
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
– |
880 |
Other debtors |
3,125 |
6,166 |
|
------- |
------- |
|
3,125 |
7,046 |
|
------- |
------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
– |
31,894 |
Social security and other taxes |
529 |
1,673 |
Other creditors |
150,569 |
150,551 |
|
--------- |
--------- |
|
151,098 |
184,118 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
150,000 |
150,000 |
|
--------- |
--------- |
|
|
|
9.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
Included in the profit and loss reserves are non distributable amounts of £787,433.