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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
10695531
2022-04-01
2023-03-31
10695531
2023-03-31
10695531
2022-03-31
10695531
2021-04-01
2022-03-31
10695531
2022-03-31
10695531
core:MotorVehicles
2022-04-01
2023-03-31
10695531
bus:Director3
2022-04-01
2023-03-31
10695531
core:WithinOneYear
2023-03-31
10695531
core:WithinOneYear
2022-03-31
10695531
core:ShareCapital
2023-03-31
10695531
core:ShareCapital
2022-03-31
10695531
core:RetainedEarningsAccumulatedLosses
2023-03-31
10695531
core:RetainedEarningsAccumulatedLosses
2022-03-31
10695531
bus:SmallEntities
2022-04-01
2023-03-31
10695531
bus:AuditExempt-NoAccountantsReport
2022-04-01
2023-03-31
10695531
bus:AbridgedAccounts
2022-04-01
2023-03-31
10695531
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
10695531
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
10695531
core:OfficeEquipment
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
10695531
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Statement of Financial Position |
|
31 March 2023
Fixed assets
|
Tangible assets |
5 |
65,653 |
77,537 |
|
|
|
|
Current assets
|
Debtors |
328,998 |
201,937 |
|
Cash at bank and in hand |
176,996 |
200,095 |
|
--------- |
--------- |
|
505,994 |
402,032 |
|
|
|
|
Creditors: amounts falling due within one year |
173,018 |
236,463 |
|
--------- |
--------- |
|
Net current assets |
332,976 |
165,569 |
|
--------- |
--------- |
|
Total assets less current liabilities |
398,629 |
243,106 |
|
|
|
|
Provisions |
11,175 |
11,176 |
|
--------- |
--------- |
|
Net assets |
387,454 |
231,930 |
|
--------- |
--------- |
|
|
|
Capital and reserves
|
Called up share capital |
10 |
10 |
|
Profit and loss account |
387,444 |
231,920 |
|
--------- |
--------- |
|
Shareholders funds |
387,454 |
231,930 |
|
--------- |
--------- |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
|
Abridged Statement of Financial Position (continued) |
|
31 March 2023
These abridged financial statements were approved by the
board of directors
and authorised for issue on
17 August 2023
, and are signed on behalf of the board by:
Company registration number:
10695531
|
Notes to the Abridged Financial Statements |
|
Year ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Dissington Hall, Dalton, Newcastle upon Tyne, NE18 0AD.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Motor vehicles |
- |
15% straight line |
|
Equipment |
- |
15% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being 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 each reporting date.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Provisions
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 abridged 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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost
.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2022:
6
).
5.
Tangible assets
|
£ |
|
Cost |
|
|
At 1 April 2022 |
96,429 |
|
Additions |
3,035 |
|
-------- |
|
At 31 March 2023 |
99,464 |
|
-------- |
|
Depreciation |
|
|
At 1 April 2022 |
18,892 |
|
Charge for the year |
14,919 |
|
-------- |
|
At 31 March 2023 |
33,811 |
|
-------- |
|
Carrying amount |
|
|
At 31 March 2023 |
65,653 |
|
-------- |
|
At 31 March 2022 |
77,537 |
|
-------- |
|
|
