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BALANCE SHEET AT 30/09/2024 |
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| | | | | | 2024 | | | | 2023 |
| | Notes | | | | £ | | | | £ |
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FIXED ASSETS | | | | | | | | | | |
Tangible assets | | 3 | | | | 133,946 | | | | 209,855 |
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CURRENT ASSETS | | | | | | | | | | |
Debtors | | 4 | | 661,522 | | | | 824,476 | | |
Cash at bank and in hand | | | | 231,614 | | | | 121,356 | | |
| | | | 893,136 | | | | 945,832 | | |
CREDITORS: Amounts falling due within one year | | 5 | | 4,710,215 | | | | 2,874,847 | | |
NET CURRENT LIABILITIES | | | | | | (3,817,079) | | | | (1,929,015) |
TOTAL ASSETS LESS CURRENT LIABILITIES | | | | | | (3,683,133) | | | | (1,719,160) |
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PROVISIONS FOR LIABILITIES AND CHARGES | | 6 | | | | 79,076 | | | | 79,076 |
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NET LIABILITIES | | | | | | (3,762,209) | | | | (1,798,236) |
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CAPITAL AND RESERVES | | | | | | | | | | |
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Called up share capital | | 7 | | | | 100 | | | | 100 |
Profit and loss account | | | | | | (3,762,309) | | | | (1,798,336) |
SHAREHOLDERS' FUNDS | | | | | | (3,762,209) | | | | (1,798,236) |
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For the year ending 30/09/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
The directors have decided not to deliver to the registrar a copy of the company's profit and loss account. |
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Approved by the board on 26/06/2025 and signed on their behalf by | | | | | | | | | | |
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............................. | | | | | | | | | | |
Andrew Wood | | | | | | | | | | |
Director | | | | | | | | | | |
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1b. Government Grants |
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. |
Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. |
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance related
conditions on the recipient, it is recognised in income when the grant proceeds are received
or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met.
Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. |
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1e. 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. |
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1g. Financial Instruments |
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments
discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. |
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. |
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the
reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. |