Contents of the Financial Statements

for the Period Ended 28 February 2022

Directors' report period ended 28 February 2022

The directors present their report with the financial statements of the company for the period ended 28 February 2022

Directors

The directors shown below have held office during the whole of the period from
1 March 2021 to 28 February 2022

The director shown below has held office during the period of
1 March 2021 to 20 April 2021

The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
21 November 2022

And signed on behalf of the board by:
Name: M FREEMAN
Status: Director

Profit And Loss Account

for the Period Ended 28 February 2022

Balance sheet

As at 28 February 2022

The notes form part of these financial statements

Balance sheet statements

For the year ending 28 February 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 28 February 2022

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Tangible fixed assets depreciation policy

  TANGIBLE ASSETSTangible assets are initially measured at cost, and are subsequently measured at cost less anyaccumulated depreciation and accumulated impairment losses or at a revalued amount.Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluationless any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation is recognised in othercomprehensive income and accumulated in capital and reserves. However, the increase is recognisedin profit or loss to the extent that it reverses a revaluation decrease of the same asset previouslyrecognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluationis recognised in other comprehensive income to the extent of any previously recognised revaluationincrease accumulated in capital and reserves. If a revaluation decrease exceeds the accumulatedrevaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognisedin profit or loss.

  Other accounting policies

  BASIS OF PREPARATIONThe financial statements have been prepared on the historical cost basis, as modified by the revaluationof certain assets.The financial statements are prepared in sterling, which is the functional currency of the company.CURRENT TAXCurrent tax is recognised on taxable profit for the current and past periods. Current tax is measured atthe amounts of tax expected to pay or recover using the tax rates and laws that have been enacted orsubstantively enacted at the reporting date. IMPAIRMENTA review for indicators of impairment is carried out at each reporting date, with the recoverable amountbeing estimated where such indicators exist. Where the carrying value exceeds the recoverable amount,the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at eachreporting date.GOVERNMENT GRANTSGovernment grants are recognised at the fair value of the asset received or receivable. Grants are notrecognised until there is reasonable assurance that the entity will comply with the conditions attachingto them and the grants will be received.Government grants are recognised using the accrual model and the performance model.Under the accrual model, government grants relating to revenue are recognised on a systematic basisover the periods in which the entity recognises the related costs for which the grant is intended tocompensate. Grants that are receivable as compensation for expenses or losses already incurred or forthe purpose of giving immediate financial support to the entity with no future related costs are recognisedin income in the period in which it becomes receivable.Grants relating to assets are recognised in income on a systematic basis over the expected useful lifeof the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred incomeand not deducted from the carrying amount of the asset.Under the performance model, where the grant does not impose specified future performance-relatedconditions on the recipient, it is recognised in income when the grant proceeds are received orreceivable. Where the grant does impose specified future performance-related conditions on therecipient, it is recognised in income only when the performance-related conditions have been met.Where grants received are prior to satisfying the revenue recognition criteria, they are recognised asa liability.FINANCIAL INSTRUMENTSA financial asset or a financial liability is recognised only when the entity becomes a party to thecontractual provisions of the instrument.Basic financial instruments are initially recognised at the transaction price and are subsequentlymeasured as follows: Debt instruments are subsequently measured at amortised cost and commitmentsto receive a loan and to make a loan to another entity are subsequently measured at amortised cost.Where investments in non-convertible preference shares and non-puttable ordinary shares or preferenceshares are publicly traded or their fair value can otherwise be measured reliably, the investment issubsequently measured at fair value with changes in fair value recognised in profit or loss. All othersuch investments are subsequently measured at cost less impairment.All other financial instruments, including derivatives, are initially recognised at fair value, whichis normally the transaction price and are subsequently measured at fair value, with any changesrecognised in profit or loss.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence ofimpairment at the end of each reporting date. If there is objective evidence of impairment, an impairmentloss is recognised in profit or loss immediately.All equity instruments regardless of significance, and other financial assets that are individuallysignificant, are assessed individually for impairment. Other financial assets or either assessedindividually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversaldoes not result in a carrying amount of the financial asset that exceeds what the carrying amount wouldhave been had the impairment not previously been recognised.DEFINED CONTRIBUTION PENSION PLANContributions to defined contribution plans are recognised as an expense in the period in which therelated service is provided. Prepaid contributions are recognised as an asset to the extent that theprepayment will lead to a reduction in future payments or a cash refund.

Notes to the Financial Statements

for the Period Ended 28 February 2022

• 2. Employees

  	2022	2021
  Average number of employees during the period	4	5