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(1) General Information
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| The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is York House, The Street, Ingham, Bury St. Edmunds, Suffolk, IP31 1NG. |
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(2) Statement of compliance
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| These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime. |
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(3) Significant Accounting Policies
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Basis of Preparation
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| The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Intangible fixed assets
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Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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Goodwill
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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 recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis over its useful life, which is estimated to be five years. Goodwill amortisation is included within administration expenses.
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Property, plant and equipment
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Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.
Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
| | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | 18% reducing balance | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | | | Equipment | | | Motor Cars | 18% reducing balance |
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Taxation
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| Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. |
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(4) Employees
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| During the year, the average number of employees including director was 17 (2023 : 8). |
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(5) Fixed assets
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| Intangible
£ | Tangible
£ | Totals
£ | | Cost | | | | | As at 01 November 2023 | 10,000 | 68,700 | 78,700 | | Additions | - | 54,594 | 54,594 | | As at 31 October 2024 | 10,000 | 123,294 | 133,294 | | Depreciation/Amortisation | | | | | As at 01 November 2023 | 4,000 | 21,610 | 25,610 | | For the year | 2,000 | 18,304 | 20,304 | | As at 31 October 2024 | 6,000 | 39,914 | 45,914 | | Net book value | | | | | As at 31 October 2024 | 4,000 | 83,380 | 87,380 | | As at 31 October 2023 | 6,000 | 47,090 | 53,090 |
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