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COMPANY REGISTRATION NUMBER: 04925866
M&S Property Services (York) Ltd
Filleted Unaudited Financial Statements
31 December 2024
M&S Property Services (York) Ltd
Balance Sheet
31 December 2024
2024
2023
Note
£
£
£
£
Fixed assets
Intangible assets
5
55,125
41,125
Tangible assets
6
10,530
11,553
--------
--------
65,655
52,678
Current assets
Debtors
7
24,185
24,924
Cash at bank and in hand
167,773
139,111
---------
---------
191,958
164,035
Creditors: amounts falling due within one year
8
( 97,499)
( 86,533)
---------
---------
Net current assets
94,459
77,502
---------
---------
Total assets less current liabilities
160,114
130,180
Creditors: amounts falling due after more than one year
9
( 4,409)
( 14,806)
Provisions
Taxation including deferred tax
( 2,485)
( 2,709)
---------
---------
Net assets
153,220
112,665
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
153,120
112,565
---------
---------
Shareholders funds
153,220
112,665
---------
---------
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 profit and loss account 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
M&S Property Services (York) Ltd
Balance Sheet (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 1 May 2025 , and are signed on behalf of the board by:
A Parrish
Director
Company registration number: 04925866
M&S Property Services (York) Ltd
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 64 Micklegate, York, YO1 6LF.
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 services rendered, stated net of Value Added Tax.
Corporation 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.
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.
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:
Goodwill
-
20% straight line
Franchise fee
-
5% 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. 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:
Fixtures and fittings
-
15% reducing balance
Office equipment
-
25% reducing balance
Leasehold improvements
-
Over the period of the lease
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.
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 balance sheet 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
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade or other debtors and creditors, loans from banks and other third parties, and loans to related parties.
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 10 (2023: 8 ).
5. Intangible assets
Goodwill
Franchise fee
Total
£
£
£
Cost
At 1 January 2024
86,450
18,500
104,950
Additions
30,000
30,000
---------
--------
---------
At 31 December 2024
116,450
18,500
134,950
---------
--------
---------
Amortisation
At 1 January 2024
45,325
18,500
63,825
Charge for the year
16,000
16,000
---------
--------
---------
At 31 December 2024
61,325
18,500
79,825
---------
--------
---------
Carrying amount
At 31 December 2024
55,125
55,125
---------
--------
---------
At 31 December 2023
41,125
41,125
---------
--------
---------
6. Tangible assets
Fixtures & fittings
Office equipment
Leasehold improvements
Total
£
£
£
£
Cost
At 1 January 2024
7,575
46,182
17,273
71,030
Additions
1,916
1,916
Disposals
( 16,990)
( 16,990)
-------
--------
--------
--------
At 31 December 2024
7,575
31,108
17,273
55,956
-------
--------
--------
--------
Depreciation
At 1 January 2024
5,306
36,898
17,273
59,477
Charge for the year
340
2,599
2,939
Disposals
( 16,990)
( 16,990)
-------
--------
--------
--------
At 31 December 2024
5,646
22,507
17,273
45,426
-------
--------
--------
--------
Carrying amount
At 31 December 2024
1,929
8,601
10,530
-------
--------
--------
--------
At 31 December 2023
2,269
9,284
11,553
-------
--------
--------
--------
7. Debtors
2024
2023
£
£
Trade debtors
2,241
240
Other debtors
21,944
24,684
--------
--------
24,185
24,924
--------
--------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,397
10,140
Trade creditors
3,427
3,666
Social security and other taxes
81,469
70,738
Other creditors
2,206
1,989
--------
--------
97,499
86,533
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
4,409
14,806
-------
--------