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COMPANY REGISTRATION NUMBER: 07284041
Sensible Choice Limited
Filleted Unaudited Financial Statements
30 June 2024
Sensible Choice Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
111,580
549,302
Current assets
Stocks
64,255
73,003
Debtors
6
940,854
144,088
Cash at bank and in hand
19,364
196,119
------------
---------
1,024,473
413,210
Creditors: amounts falling due within one year
7
661,491
308,740
------------
---------
Net current assets
362,982
104,470
---------
---------
Total assets less current liabilities
474,562
653,772
Creditors: amounts falling due after more than one year
8
6,378
205,153
Provisions
Taxation including deferred tax
23,123
23,804
---------
---------
Net assets
445,061
424,815
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
444,961
424,715
---------
---------
Shareholders funds
445,061
424,815
---------
---------
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 June 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 .
Sensible Choice Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 10 July 2025 , and are signed on behalf of the board by:
Mr I J Hudson
Director
Company registration number: 07284041
Sensible Choice Limited
Notes to the Financial Statements
Year ended 30 June 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 7 Beeston Court, Stuart Road, Manor Park, Runcorn, WA7 1SS.
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 for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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:
Laser printers
-
33% straight line
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
33% straight line
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
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 21 (2023: 19 ).
5. Tangible assets
Land and buildings
Laser printers
Fixtures and fittings
Motor vehicles
Office equipment
Total
£
£
£
£
£
£
Cost
At 1 Jul 2023
414,055
89,845
134,562
72,690
11,898
723,050
Additions
36,294
36,294
Disposals
( 414,055)
( 23,967)
( 310)
( 6,872)
( 445,204)
---------
---------
---------
--------
--------
---------
At 30 Jun 2024
102,172
134,252
72,690
5,026
314,140
---------
---------
---------
--------
--------
---------
Depreciation
At 1 Jul 2023
53,867
79,017
31,616
9,248
173,748
Charge for the year
34,057
13,862
10,268
1,675
59,862
Disposals
( 23,966)
( 212)
( 6,872)
( 31,050)
---------
---------
---------
--------
--------
---------
At 30 Jun 2024
63,958
92,667
41,884
4,051
202,560
---------
---------
---------
--------
--------
---------
Carrying amount
At 30 Jun 2024
38,214
41,585
30,806
975
111,580
---------
---------
---------
--------
--------
---------
At 30 Jun 2023
414,055
35,978
55,545
41,074
2,650
549,302
---------
---------
---------
--------
--------
---------
6. Debtors
2024
2023
£
£
Trade debtors
502,909
144,088
Other debtors
437,945
---------
---------
940,854
144,088
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
31,852
20,759
Trade creditors
458,495
192,827
Corporation tax
33,246
45,327
Social security and other taxes
104,410
49,827
Other creditors
33,488
---------
---------
661,491
308,740
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
205,153
Other creditors
6,378
-------
---------
6,378
205,153
-------
---------
Included within creditors: amounts falling due after more than one year is an amount of £Nil (2023: £113,892) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The liabilities due after more than 5 years are repaid via fixed term loans with a variable rate of interest.
9. Related party transactions
The company was under the control of Mr P W Graham & Mrs H M Graham throughout the previous year and until 16 May 2024 during the current year when all the issued share capital was transferred to Hudson Hill Consulting Limited who now holds all of the issued share capital. Mr I J Hudson is the sole director. During the year dividends of £Nil (2023 - £77,745) were paid to Mr & Mrs Graham. During the year premises of £ 414,054 were sold at open market value to Graham's Lettings Limited, a company of which Mr & Mrs Graham are minority shareholders, and all of the issued share capital is held by family members.