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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 and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below. |
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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:
Plant & Machinery - 25% reducing balance basis and 3 years straight line
Motor Vehicles - 25% reducing balance | | Asset class and depreciation rate | | Land and Buildings | | | Plant and Machinery | | | Short Leasehold Properties | | | Investment Properties | | | Long Leasehold Properties | | | Commercial Vehicles | | | Fixtures and Fittings | | | Equipment | | | Motor Cars | |
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Financial instruments
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The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, cash and cash equivalents, trade and other payables, and loans and borrowings.
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instruments. Financial assets and financial liabilities are initially measured at fair value. |
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Inventories
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| Inventories are measured at the lower of cost and net realisable value. Costs of inventories are determined on a first-in-first-out basis. Net realisable value represents the estimated selling price for inventories less all estimated costs necessary to make the sale. |
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Leases
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Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in the income statement.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, the aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis over the lease period. |
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Provisions
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Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. When a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material). |
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Taxation
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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 2 (2025 : 1). |
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(5) Debtors
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(6) Creditors: Amounts falling due within one year
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| | | 2026 | | 2025 | | £ | | £ | | | Trade creditors | 101,248 | | 103,569 | | Bank loans and overdrafts | 834 | | 10,000 | | Finance leases | 4,299 | | - | | Other taxes and social security | 800 | | 7,086 | | Other creditors | 5,352 | | 6,442 | | Accruals and deferred income | 2,148 | | 1,920 | | 114,681 | | 129,017 |
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(7) Creditors: Amounts falling due after more than one year
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| | | 2026 | | 2025 | | £ | | £ | | | Bank loans and overdrafts | - | | 833 | | Finance leases | 13,972 | | - | | | | | | 13,972 | | 833 |
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(8) Related party transactions
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| Included in creditors, amount falling due within one year, is an amount of £3,903 (2025: £6,442) owed to the director of the company. This amount is interest free and repayable on demand. |
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(9) Fixed assets
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| Tangible
£ | | Cost | | | As at 01 June 2025 | 40,385 | | Additions | 22,934 | | Disposals | (24,540) | | As at 31 May 2026 | 38,779 | | Depreciation/Amortisation | | | As at 01 June 2025 | 32,404 | | For the year | 6,607 | | Write off on disposals | (21,124) | | As at 31 May 2026 | 17,887 | | Net book value | | | As at 31 May 2026 | 20,892 | | As at 31 May 2025 | 7,981 |
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