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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 The Old Emporium, Bow Street, Langport, Somerset, TA10 9PQ. |
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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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Revenue recognition
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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. |
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Tangible assets
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Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation is calculated so as to write off the cost of an asset, less its residual value, over the useful economic life of that asset as follows: | | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | 20% reducing balance | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | | | Equipment | 25% reducing balance | | Motor Cars | 25% reducing balance |
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Financial instruments
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Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presentedas such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
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Finance leases and hire purchase contracts
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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. |
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Provisions
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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. |
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Income tax
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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. |
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(4) Employees
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| During the year, the average number of employees including director was 1 (2025 : 1). |
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(5) Tangible fixed assets
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| Plant and Machinery | Equipment | Motor Vehicles | Totals | | £ | £ | £ | £ | | Cost | | | | | | As at 01 April 2025 | 20,894 | 2,634 | 44,767 | 68,295 | | Disposals | (2,984) | (1,519) | - | (4,503) | | As at 31 March 2026 | 17,910 | 1,115 | 44,767 | 63,792 | | Depreciation | | | | | | As at 01 April 2025 | 19,637 | 1,909 | 43,104 | 64,650 | | For the year | 251 | 181 | 416 | 848 | | Write off on disposals | (2,814) | (1,509) | - | (4,323) | | As at 31 March 2026 | 17,074 | 581 | 43,520 | 61,175 | | Net book value | | | | | | As at 31 March 2026 | 835 | 534 | 1,247 | 2,617 | | As at 31 March 2025 | 1,257 | 725 | 1,663 | 3,645 |
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(6) Debtors
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Amounts falling due within one year
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| | | 2026 | | 2025 | | £ | | £ | | | Trade debtors | 7,071 | | 4,275 | | | | | | Prepayments and accrued income | 1,345 | | 2,203 | | 8,416 | | 6,478 |
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(7) Creditors: Amounts falling due within one year
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| | | 2026 | | 2025 | | £ | | £ | | | Trade creditors | 24 | | 474 | | | | | | Finance leases | 95 | | 380 | | Other taxes and social security | 2,976 | | 1,966 | | Other creditors | 4,210 | | 1,245 | | Accruals and deferred income | 2,145 | | 2,125 | | 9,450 | | 6,190 |
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(8) Creditors: Amounts falling due after more than one year
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| | | 2026 | | 2025 | | £ | | £ | | | | | | | Finance leases | - | | 95 | | | | | | - | | 95 |
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(9) Share capital and reserves
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| | Alloted, called up and fully paid: | 2026 | | 2025 | | £ | | £ | | | 100 (2025 : 100) Ordinary A shares of £ 1 each | 100 | | 100 | | 1 (2025 : 1) Ordinary B shares of £ 1 each | 1 | | 1 | | 101 | | 101 | | | | | Retained earnings | | | 2026 | | | | £ | | At 1 April 2025 | | | 4,790 | | Profit of the year | | | 20,132 | | Dividends paid | | | (24,000) | | At 31 March 2026 | | | 922 | |
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(10) Related party transactions
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| John Eric White is considered a related party by virtue of having common directors and shareholders. The balance outstanding to this related party was £4,083 as at 31 March 2026 (2025: £1,245). |
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