| Director |
| Registered office | |
| Registered number | 12290935 |
| Accountant | MHA |
| Lyndean House | |
| 30 - 32 Albion Place | |
| Maidstone | |
| Kent | |
| ME14 5DZ |
| Notes |
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The financial statements were approved and authorised for issue by the Board of Directors on
Morsia, Matthew
Director |
Company registration number 12290935
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The financial statements are presented in sterling and this is the functional currency of the company.
The financial statements have been prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
The financial statements have been prepared under the historical cost convention in accordance with the Companies Act 2006.
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.
Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Investments in subsidiaries, associates, and joint ventures are measured at cost less any accumulated impairment losses. Other investments in equity instruments that are publicly traded are measured at fair value, with changes in fair value recognised in the income statement. Other investments in equity instruments that are not publicly traded are measured at fair value unless this cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
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The above loan is unsecured and repayable on demand. Interest totalling £11,028 was charged on this loan and is included in the advances shown above.
The Company has taken advantage of the exemption available in section 33.1A of FRS 102 not to disclose transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
During the year, dividends were voted to the director totalling £nil (2024: £1,790,000).
The entity has taken advantage of the option not to prepare consolidated financial statements as contained in Section 399 of the Companies Act 2006, on the basis that the entity and its subsidiary undertakings comprise a small group.