Contents of the Financial Statements

for the Period Ended 31 March 2022

Balance sheet

As at 31 March 2022

The notes form part of these financial statements

Balance sheet statements

For the year ending 31 March 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 directors have chosen not to file a copy of the company's profit and loss account.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 March 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

  Turnover policy

  TurnoverTurnover is measured at the fair value of the consideration received or receivable, net ofdiscounts and value added taxes. Turnover includes revenue earned from the sale of goodsand from the rendering of services. Turnover from the sale of goods is recognised when thesignificant risks and rewards of ownership of the goods have transferred to the buyer. Turnoverfrom the rendering of services is recognised by reference to the stage of completion of thecontract. The stage of completion of a contract is measured by comparing the costs incurredfor work performed to date to the total estimated contract costs.

  Tangible fixed assets depreciation policy

  Tangible fixed assetsTangible fixed assets are measured at cost less accumulative depreciation and anyaccumulative impairment losses. Depreciation is provided on all tangible fixed assets, otherthan freehold land, at rates calculated to write off the cost, less estimated residual value, ofeach asset evenly over its expected useful life, as follows:Freehold buildingsLeasehold land and buildingsPlant and machineryFixtures, fittings, tools and equipmentover 50 yearsover the lease termover 5 yearsover 5 years

  Other accounting policies

  DebtorsShort term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initiallyrecognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses forbad and doubtful debts.CreditorsShort term creditors are measured at transaction price (which is usually the invoice price).Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effectiveinterest method.TaxationA current tax liability is recognised for the tax payable on the taxable profit of the current andpast periods. A current tax asset is recognised in respect of a tax loss that can be carried backto recover tax paid in a previous period. Deferred tax is recognised in respect of all timingdifferences between the recognition of income and expenses in the financial statements andtheir inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets arerecognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Notes to the Financial Statements

for the Period Ended 31 March 2022

• 2. Employees

  	2022	2021
  Average number of employees during the period	1	1