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20 August 2025
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No description of principal activity
2023-05-01
Sage Accounts Production Advanced 2024 - FRS102_2024
176,200
176,200
123,340
17,620
140,960
52,860
184,722
184,722
161,956
4,553
166,509
22,766
xbrli:pure
xbrli:shares
iso4217:GBP
03983078
2023-05-01
2024-04-30
03983078
2024-04-30
03983078
2023-04-30
03983078
2022-05-01
2023-04-30
03983078
2023-04-30
03983078
2022-04-30
03983078
core:NetGoodwill
2023-05-01
2024-04-30
03983078
core:FurnitureFittings
2023-05-01
2024-04-30
03983078
bus:Director1
2023-05-01
2024-04-30
03983078
core:NetGoodwill
2023-04-30
03983078
core:FurnitureFittings
2023-04-30
03983078
core:WithinOneYear
2024-04-30
03983078
core:WithinOneYear
2023-04-30
03983078
core:ShareCapital
2024-04-30
03983078
core:ShareCapital
2023-04-30
03983078
core:RetainedEarningsAccumulatedLosses
2024-04-30
03983078
core:RetainedEarningsAccumulatedLosses
2023-04-30
03983078
1
2023-05-01
2024-04-30
03983078
1
core:NetGoodwill
2023-05-01
2024-04-30
03983078
core:NetGoodwill
2023-04-30
03983078
core:FurnitureFittings
2023-04-30
03983078
bus:SmallEntities
2023-05-01
2024-04-30
03983078
bus:Audited
2023-05-01
2024-04-30
03983078
bus:SmallCompaniesRegimeForAccounts
2023-05-01
2024-04-30
03983078
bus:PrivateLimitedCompanyLtd
2023-05-01
2024-04-30
03983078
bus:FullAccounts
2023-05-01
2024-04-30
COMPANY REGISTRATION NUMBER:
03983078
|
Filleted Financial Statements |
|
|
Statement of Financial Position |
|
30 April 2024
Fixed assets
|
Intangible assets |
5 |
– |
52,860 |
|
Tangible assets |
6 |
– |
22,766 |
|
---- |
-------- |
|
– |
75,626 |
|
|
|
|
Current assets
|
Stocks |
– |
81,709 |
|
Debtors |
7 |
323,654 |
150,235 |
|
Cash at bank and in hand |
81,582 |
170,742 |
|
--------- |
--------- |
|
405,236 |
402,686 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
114,419 |
224,816 |
|
--------- |
--------- |
|
Net current assets |
290,817 |
177,870 |
|
--------- |
--------- |
|
Total assets less current liabilities |
290,817 |
253,496 |
|
|
|
|
|
Provisions |
– |
4,151 |
|
--------- |
--------- |
|
Net assets |
290,817 |
249,345 |
|
--------- |
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
2 |
2 |
|
Profit and loss account |
290,815 |
249,343 |
|
--------- |
--------- |
|
Shareholders funds |
290,817 |
249,345 |
|
--------- |
--------- |
|
|
|
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.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements were approved by the
board of directors
and authorised for issue on
19 August 2025
, and are signed on behalf of the board by:
Company registration number:
03983078
|
Notes to the Financial Statements |
|
Year ended 30 April 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 9 Lydford Road, London, NW2 5QY.
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 measured at fair value through profit or loss.
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.
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.
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 |
- |
10% 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:
|
Fixtures and fittings |
- |
20% reducing balance |
|
|
|
|
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.
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.
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.
Financial instruments
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.
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
2
(2023:
4
).
The payroll costs for the company during the year were bourne by another group company and are therefore not reflected in these accounts.
5.
Intangible assets
|
Goodwill |
|
£ |
|
Cost |
|
|
At 1 May 2023 |
176,200 |
|
Additions |
– |
|
Disposals of previously acquired businesses |
(
176,200) |
|
--------- |
|
At 30 April 2024 |
– |
|
--------- |
|
Amortisation |
|
|
At 1 May 2023 |
123,340 |
|
Charge for the year |
17,620 |
|
Disposals of previously acquired businesses |
(
140,960) |
|
--------- |
|
At 30 April 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 30 April 2024 |
– |
|
--------- |
|
At 30 April 2023 |
52,860 |
|
--------- |
|
|
6.
Tangible assets
|
Fixtures and fittings |
|
£ |
|
Cost |
|
|
At 1 May 2023 |
184,722 |
|
Disposals |
(
184,722) |
|
--------- |
|
At 30 April 2024 |
– |
|
--------- |
|
Depreciation |
|
|
At 1 May 2023 |
161,956 |
|
Charge for the year |
4,553 |
|
Disposals |
(
166,509) |
|
--------- |
|
At 30 April 2024 |
– |
|
--------- |
|
Carrying amount |
|
|
At 30 April 2024 |
– |
|
--------- |
|
At 30 April 2023 |
22,766 |
|
--------- |
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
– |
109,875 |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
312,721 |
– |
|
Other debtors |
10,933 |
40,360 |
|
--------- |
--------- |
|
323,654 |
150,235 |
|
--------- |
--------- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Trade creditors |
93,707 |
199,799 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
– |
2,190 |
|
Corporation tax |
966 |
17,827 |
|
Other creditors |
19,746 |
5,000 |
|
--------- |
--------- |
|
114,419 |
224,816 |
|
--------- |
--------- |
|
|
|
9.
Cessation of trade
The company ceased to trade at the end of March 2024, and the trade transferred to another company within the group. The directors have therefore concluded that the company will not continue as a going concern and accordingly have prepared the accounts on a break up basis.
10.
Summary audit opinion
The auditor's report dated
20 August 2025
was
qualified
on the following basis:
We were not appointed as auditors of the company until after the year ended 30 April 2024. The accounts for the year ended 30 April 2023 were not audited. Consequently,the opening balances as at 1 May 2023 were not audited. We were unable to obtain sufficient appropriate audit evidence regarding the opening balances due to inadequate supporting documentation. Consequently, we were unable to determine whether any adjustments were necessary in respect of the opening statement of financial position as at 1 May 2023. In addition, we were unable to determine that revenue was free from material misstatement due to inadequate records.
The senior statutory auditor was
Mark Illingsworth BA FCA
, for and on behalf of
Versant Associates LLP
.
11.
Related party transactions
The company has taken advantage of the exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose wholly related party transactions with wholly owned subsidiaries within the group.
12.
Controlling party
The ultimate parent company is Canary Trading Company Limited, a company incorporated in England & Wales. Its registered office is located at 9 Lydford Road, London, NW2 5QY.