29
false
false
false
false
false
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false
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true
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No description of principal activity
2023-11-01
Sage Accounts Production Advanced 2024 - FRS102_2024
1,902,426
554,368
2,456,794
995,268
383,925
1,379,193
1,077,601
907,158
44,117
12,135
56,252
24,696
10,725
35,421
20,831
19,421
xbrli:pure
xbrli:shares
iso4217:GBP
09834115
2023-11-01
2024-10-31
09834115
2024-10-31
09834115
2023-10-31
09834115
2022-11-01
2023-10-31
09834115
2023-10-31
09834115
2022-10-31
09834115
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-11-01
2024-10-31
09834115
bus:Director3
2023-11-01
2024-10-31
09834115
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-10-31
09834115
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2024-10-31
09834115
core:WithinOneYear
2024-10-31
09834115
core:WithinOneYear
2023-10-31
09834115
core:ShareCapital
2024-10-31
09834115
core:ShareCapital
2023-10-31
09834115
core:SharePremium
2024-10-31
09834115
core:SharePremium
2023-10-31
09834115
core:RetainedEarningsAccumulatedLosses
2024-10-31
09834115
core:RetainedEarningsAccumulatedLosses
2023-10-31
09834115
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2023-10-31
09834115
bus:Director1
2023-11-01
2024-10-31
09834115
bus:SmallEntities
2023-11-01
2024-10-31
09834115
bus:AuditExemptWithAccountantsReport
2023-11-01
2024-10-31
09834115
bus:SmallCompaniesRegimeForAccounts
2023-11-01
2024-10-31
09834115
bus:PrivateLimitedCompanyLtd
2023-11-01
2024-10-31
09834115
bus:FullAccounts
2023-11-01
2024-10-31
09834115
core:OfficeEquipment
2023-11-01
2024-10-31
09834115
core:OfficeEquipment
2023-10-31
09834115
core:OfficeEquipment
2024-10-31
09834115
bus:Director3
1
2023-11-01
2024-10-31
COMPANY REGISTRATION NUMBER:
09834115
Filleted Unaudited Financial Statements |
|
Year ended 31 October 2024
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Statement of Financial Position |
|
31 October 2024
Fixed assets
Intangible assets |
5 |
|
1,077,601 |
907,158 |
Tangible assets |
6 |
|
20,831 |
19,421 |
|
|
------------ |
--------- |
|
|
1,098,432 |
926,579 |
|
|
|
|
|
Current assets
Debtors |
7 |
342,114 |
|
226,191 |
Cash at bank and in hand |
1,401,799 |
|
1,981,105 |
|
------------ |
|
------------ |
|
1,743,913 |
|
2,207,296 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
361,326 |
|
360,531 |
|
------------ |
|
------------ |
Net current assets |
|
1,382,587 |
1,846,765 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
2,481,019 |
2,773,344 |
|
|
------------ |
------------ |
Net assets |
|
2,481,019 |
2,773,344 |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
308 |
308 |
Share premium account |
|
5,894,648 |
5,894,648 |
Profit and loss account |
|
(
3,413,937) |
(
3,121,612) |
|
|
------------ |
------------ |
Shareholders funds |
|
2,481,019 |
2,773,344 |
|
|
------------ |
------------ |
|
|
|
|
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 October 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 October 2024
These financial statements were approved by the
board of directors
and authorised for issue on
22 April 2025
, and are signed on behalf of the board by:
Company registration number:
09834115
Notes to the Financial Statements |
|
Year ended 31 October 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 Soho Works 2 Television Centre, 101 Wood Lane, London, W12 7FA, 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.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
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 goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current 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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
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:
|
Development costs |
- |
25% 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:
|
Equipment |
- |
25% 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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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
29
(2023:
29
).
5.
Intangible assets
|
Development costs |
|
£ |
Cost |
|
At 1 November 2023 |
1,902,426 |
Additions |
554,368 |
|
------------ |
At 31 October 2024 |
2,456,794 |
|
------------ |
Amortisation |
|
At 1 November 2023 |
995,268 |
Charge for the year |
383,925 |
|
------------ |
At 31 October 2024 |
1,379,193 |
|
------------ |
Carrying amount |
|
At 31 October 2024 |
1,077,601 |
|
------------ |
At 31 October 2023 |
907,158 |
|
------------ |
|
|
6.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 November 2023 |
44,117 |
44,117 |
Additions |
12,135 |
12,135 |
|
-------- |
-------- |
At 31 October 2024 |
56,252 |
56,252 |
|
-------- |
-------- |
Depreciation |
|
|
At 1 November 2023 |
24,696 |
24,696 |
Charge for the year |
10,725 |
10,725 |
|
-------- |
-------- |
At 31 October 2024 |
35,421 |
35,421 |
|
-------- |
-------- |
Carrying amount |
|
|
At 31 October 2024 |
20,831 |
20,831 |
|
-------- |
-------- |
At 31 October 2023 |
19,421 |
19,421 |
|
-------- |
-------- |
|
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
196,114 |
17,971 |
Other debtors |
146,000 |
208,220 |
|
--------- |
--------- |
|
342,114 |
226,191 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
44,421 |
69,257 |
Social security and other taxes |
142,032 |
125,709 |
Pension creditor |
4,421 |
4,320 |
Other creditors |
170,452 |
161,245 |
|
--------- |
--------- |
|
361,326 |
360,531 |
|
--------- |
--------- |
|
|
|
9.
Directors' advances, credits and guarantees
During the year, a director was advanced £0 (2023:£2,208) by the company and repaid £2,208 (2023: Nil). At the balance sheet date the director was owed £982 (2023: Director owed £2,208). No interest was charged on this loan.