Registered number
09866332
Search For The Next Ltd
Filleted Accounts
30 November 2024
Search For The Next Ltd
Registered number: 09866332
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,440,287 1,277,676
Tangible assets 4 53,821 45,143
Investments 5 1,253 1,253
1,495,361 1,324,072
Current assets
Stocks 13,264 -
Debtors 6 260,123 205,221
Cash at bank and in hand 145,976 208,745
419,363 413,966
Creditors: amounts falling due within one year 7 (119,290) (38,167)
Net current assets 300,073 375,799
Total assets less current liabilities 1,795,434 1,699,871
Creditors: amounts falling due after more than one year 8 (1,253) (253)
Net assets 1,794,181 1,699,618
Capital and reserves
Called up share capital 4,132 4,104
Share premium 3,042,147 2,151,052
Profit and loss account (1,252,098) (455,538)
Shareholders' funds 1,794,181 1,699,618
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr D Summerland
Director
Approved by the board on 28 August 2025
Search For The Next Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Fixtures, fittings, tools and equipment over 4 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 December 2023 1,277,676
Additions 162,611
At 30 November 2024 1,440,287
Amortisation
At 30 November 2024 -
Net book value
At 30 November 2024 1,440,287
At 30 November 2023 1,277,676
Amortisation is not being used to write-off the intangible fixed assets.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023 67,782
Additions 32,816
At 30 November 2024 100,598
Depreciation
At 1 December 2023 22,639
Charge for the year 24,138
At 30 November 2024 46,777
Net book value
At 30 November 2024 53,821
At 30 November 2023 45,143
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 December 2023 1,253
At 30 November 2024 1,253
6 Debtors 2024 2023
£ £
Other debtors 260,123 205,221
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 86,243 -
Other creditors 33,047 38,167
119,290 38,167
8 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 1,253 253
9 Related party transactions
At the balance sheet date, £33,951.73 was owed to the company by Wafer Train Ltd, a company in which Mr D Summerland and Mr S Lodh are directors.
10 Controlling party
The company is controlled by Mr D Summerland by virtue of his shareholding
11 Other information
Search For The Next Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Bretby Hall
Bretby
Burton upon Trent
DE15 0QQ
Search For The Next Ltd 09866332 false 2023-12-01 2024-11-30 2024-11-30 VT Final Accounts July 2024 Mr D Summerland No description of principal activity 09866332 2022-12-01 2023-11-30 09866332 core:WithinOneYear 2023-11-30 09866332 core:AfterOneYear 2023-11-30 09866332 core:ShareCapital 2023-11-30 09866332 core:SharePremium 2023-11-30 09866332 core:RetainedEarningsAccumulatedLosses 2023-11-30 09866332 2023-12-01 2024-11-30 09866332 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 09866332 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 09866332 bus:Director40 2023-12-01 2024-11-30 09866332 1 2023-12-01 2024-11-30 09866332 2 2023-12-01 2024-11-30 09866332 core:Goodwill 2023-12-01 2024-11-30 09866332 core:PlantMachinery 2023-12-01 2024-11-30 09866332 countries:England 2023-12-01 2024-11-30 09866332 bus:FRS102 2023-12-01 2024-11-30 09866332 bus:FilletedAccounts 2023-12-01 2024-11-30 09866332 2024-11-30 09866332 core:WithinOneYear 2024-11-30 09866332 core:AfterOneYear 2024-11-30 09866332 core:ShareCapital 2024-11-30 09866332 core:SharePremium 2024-11-30 09866332 core:RetainedEarningsAccumulatedLosses 2024-11-30 09866332 core:Goodwill 2024-11-30 09866332 core:PlantMachinery 2024-11-30 09866332 2023-11-30 09866332 core:Goodwill 2023-11-30 09866332 core:PlantMachinery 2023-11-30 iso4217:GBP xbrli:pure