250
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
true
false
No description of principal activity
2024-03-31
Sage Accounts Production Advanced 2024 - FRS102_2024
5,900
5,900
xbrli:pure
xbrli:shares
iso4217:GBP
06692651
2024-03-31
2025-03-30
06692651
2025-03-30
06692651
2024-03-30
06692651
2023-04-02
2024-03-30
06692651
2024-03-30
06692651
2023-04-01
06692651
core:PlantMachinery
2024-03-31
2025-03-30
06692651
bus:Director2
2024-03-31
2025-03-30
06692651
core:PlantMachinery
2025-03-30
06692651
core:WithinOneYear
2025-03-30
06692651
core:WithinOneYear
2024-03-30
06692651
core:AfterOneYear
2025-03-30
06692651
core:AfterOneYear
2024-03-30
06692651
core:ShareCapital
2025-03-30
06692651
core:ShareCapital
2024-03-30
06692651
core:RetainedEarningsAccumulatedLosses
2025-03-30
06692651
core:RetainedEarningsAccumulatedLosses
2024-03-30
06692651
bus:Director1
2024-03-31
2025-03-30
06692651
bus:SmallEntities
2024-03-31
2025-03-30
06692651
bus:AuditExemptWithAccountantsReport
2024-03-31
2025-03-30
06692651
bus:SmallCompaniesRegimeForAccounts
2024-03-31
2025-03-30
06692651
bus:PrivateLimitedCompanyLtd
2024-03-31
2025-03-30
06692651
bus:FullAccounts
2024-03-31
2025-03-30
06692651
core:EntityControlledByKeyManagementPersonnel1
2024-03-31
2025-03-30
06692651
core:OtherReservesSubtotal
2024-03-31
2025-03-30
COMPANY REGISTRATION NUMBER:
06692651
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
30 March 2025
Current assets
|
Debtors |
6 |
2,354,602 |
1,852,651 |
|
Cash at bank and in hand |
33,647 |
116,301 |
|
------------ |
------------ |
|
2,388,249 |
1,968,952 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
2,315,782) |
(
1,898,675) |
|
------------ |
------------ |
|
Net current assets |
72,467 |
70,277 |
|
-------- |
-------- |
|
Total assets less current liabilities |
72,467 |
70,277 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
(
6,123) |
(
15,829) |
|
-------- |
-------- |
|
Net assets |
66,344 |
54,448 |
|
-------- |
-------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
100 |
100 |
|
Profit and loss account |
9 |
66,244 |
54,348 |
|
-------- |
-------- |
|
Shareholders funds |
66,344 |
54,448 |
|
-------- |
-------- |
|
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 30 March 2025 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) |
|
30 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
17 June 2025
, and are signed on behalf of the board by:
|
Miss L McLachlan |
|
Director |
|
Company registration number:
06692651
|
Notes to the Financial Statements |
|
Year ended 30 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Old Hall Farm, 19 Barnston Lane, Moreton, Wirral, CH46 7TN, England.
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.
Debtor balances
The directors have made a judgement that a significant amount due from a connected party is recoverable.
Going concern
The Directors have prepared the accounts using the going concern basis of accounting. Whilst they maintain that this basis remains appropriate, the company has undergone a planned change in its client base which saw numbers dropping. They remained low until late 2024. Since then the trend has been upwards in the group as a whole, however, this needs to continue. The course of action described above has only been possible through a payment holiday being extended by the group's related service company Pearl Management Limited in respect of its management charges.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: no cash flow statement has been presented for the company.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on experience and other factors considered to be relevant. Actual results may differ from these estimates. The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described in the accounting policies.
Revenue recognition
Turnover represents net invoiced sales from payroll services and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is recognised as the service is provided. 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 provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax payable or recoverable 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 that have originated but not reversed at the reporting date. Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. Current or deferred taxation assets and liabilities are not discounted. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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 and machinery |
- |
33% 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
Intercompany loans (being repayable on demand), trade debtors, and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.
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
250
(2024:
260
).
5.
Tangible assets
|
Plant and machinery |
|
£ |
|
Cost |
|
|
At 31 March 2024 and 30 March 2025 |
5,900 |
|
------- |
|
Depreciation |
|
|
At 31 March 2024 and 30 March 2025 |
5,900 |
|
------- |
|
Carrying amount |
|
|
At 30 March 2025 |
– |
|
------- |
|
At 30 March 2024 |
– |
|
------- |
|
|
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
4,171 |
830 |
|
Prepayments and accrued income |
66,158 |
67,802 |
|
Other debtors |
2,284,273 |
1,784,019 |
|
------------ |
------------ |
|
2,354,602 |
1,852,651 |
|
------------ |
------------ |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
10,671 |
10,920 |
|
Trade creditors |
77 |
3,312 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
1,856,140 |
1,380,055 |
|
Corporation tax |
45,070 |
51,901 |
|
Social security and other taxes |
394,998 |
439,160 |
|
Other creditors |
8,826 |
13,327 |
|
------------ |
------------ |
|
2,315,782 |
1,898,675 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
6,123 |
15,829 |
|
------- |
-------- |
|
|
|
9.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
10.
Ultimate parent company
Blue Garnet Management Services Limited is regarded by the directors as being the company's ultimate parent company.
Blue Garnet Management Services Limited prepares consolidated financial statements which are available from Companies House, Crown Way, Cardiff, CF14 3UZ.
11.
Ultimate controlling party
The ultimate controlling party of the company is Mr L. McLachlan, who is a director, by virtue of his shareholding in Blue Garnet Management Services Limited.
12.
Related party transactions
During the year the company entered into the following transactions with related parties:
|
Transaction value |
Balance owed by/(owed to) |
|
2025 |
2024 |
2025 |
2024 |
|
£ |
£ |
£ |
£ |
|
Pearl Management Limited |
– |
– |
|
|
|
---- |
---- |
------------ |
------------ |
|
|
|
|
|
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.