false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2019-04-06
Sage Accounts Production Advanced 2019 - FRS102_2019
115,000
115,000
xbrli:pure
xbrli:shares
iso4217:GBP
02709399
2019-04-06
2020-04-05
02709399
2020-04-05
02709399
2019-04-05
02709399
2018-04-06
2019-04-05
02709399
2019-04-05
02709399
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2019-04-06
2020-04-05
02709399
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-04-06
2020-04-05
02709399
core:MotorVehicles
2019-04-06
2020-04-05
02709399
bus:Director1
2019-04-06
2020-04-05
02709399
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2020-04-05
02709399
core:LandBuildings
2019-04-05
02709399
core:MotorVehicles
2019-04-05
02709399
core:LandBuildings
2020-04-05
02709399
core:MotorVehicles
2020-04-05
02709399
core:LandBuildings
2019-04-06
2020-04-05
02709399
core:WithinOneYear
2020-04-05
02709399
core:WithinOneYear
2019-04-05
02709399
core:ShareCapital
2020-04-05
02709399
core:ShareCapital
2019-04-05
02709399
core:CapitalRedemptionReserve
2020-04-05
02709399
core:CapitalRedemptionReserve
2019-04-05
02709399
core:RetainedEarningsAccumulatedLosses
2020-04-05
02709399
core:RetainedEarningsAccumulatedLosses
2019-04-05
02709399
core:LandBuildings
2019-04-05
02709399
core:MotorVehicles
2019-04-05
02709399
bus:Director1
2019-04-05
02709399
bus:Director1
2018-04-05
02709399
bus:SmallEntities
2019-04-06
2020-04-05
02709399
bus:AuditExemptWithAccountantsReport
2019-04-06
2020-04-05
02709399
bus:FullAccounts
2019-04-06
2020-04-05
02709399
bus:SmallCompaniesRegimeForAccounts
2019-04-06
2020-04-05
02709399
bus:PrivateLimitedCompanyLtd
2019-04-06
2020-04-05
02709399
core:ToolsEquipment
2019-04-06
2020-04-05
02709399
core:ToolsEquipment
2019-04-05
02709399
core:ToolsEquipment
2020-04-05
COMPANY REGISTRATION NUMBER:
02709399
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
5 April 2020
Fixed assets
Tangible assets
|
6
|
|
322,571
|
355,608
|
|
|
|
|
|
Current assets
Stocks
|
2,000
|
|
3,910
|
Debtors
|
7
|
111,280
|
|
156,191
|
Cash at bank and in hand
|
160,039
|
|
172,712
|
|
---------
|
|
---------
|
|
273,319
|
|
332,813
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
53,442
|
|
100,081
|
|
---------
|
|
---------
|
Net current assets
|
|
219,877
|
232,732
|
|
|
---------
|
---------
|
Total assets less current liabilities
|
|
542,448
|
588,340
|
|
|
---------
|
---------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1
|
1
|
Capital redemption reserve
|
|
1
|
1
|
Profit and loss account
|
|
542,446
|
588,338
|
|
|
---------
|
---------
|
Shareholders funds
|
|
542,448
|
588,340
|
|
|
---------
|
---------
|
|
|
|
|
These 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 statement of income and retained earnings has not been delivered.
For the year ending 5 April 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued)
|
|
5 April 2020
These financial statements were approved by the
board of directors
and authorised for issue on
7 December 2020
, and are signed on behalf of the board by:
Company registration number:
02709399
Notes to the Financial Statements
|
|
Year ended 5 April 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2, Victoria Works, Leigh Place, Welling, Kent, DA16 3JH.
2.
Statement of compliance
These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
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 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.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Franchise Licence
|
-
|
20% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less 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 other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Freehold Property
|
-
|
2% reducing balance
|
|
Motor Vehicles
|
-
|
20% reducing balance
|
|
Tools & Equipment
|
-
|
15% reducing balance
|
|
|
|
|
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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
11
(2019:
14
).
5.
Intangible assets
|
Development costs
|
|
£
|
Cost
|
|
At 6 April 2019 and 5 April 2020
|
115,000
|
|
---------
|
Amortisation
|
|
At 6 April 2019 and 5 April 2020
|
115,000
|
|
---------
|
Carrying amount
|
|
At 5 April 2020
|
–
|
|
---------
|
At 5 April 2019
|
–
|
|
---------
|
|
|
6.
Tangible assets
|
Land and buildings
|
Motor vehicles
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 6 April 2019
|
250,000
|
173,150
|
334,736
|
757,886
|
Additions
|
–
|
–
|
4,995
|
4,995
|
Disposals
|
–
|
(
14,748)
|
–
|
(
14,748)
|
|
---------
|
---------
|
---------
|
---------
|
At 5 April 2020
|
250,000
|
158,402
|
339,731
|
748,133
|
|
---------
|
---------
|
---------
|
---------
|
Depreciation
|
|
|
|
|
At 6 April 2019
|
55,917
|
122,734
|
223,627
|
402,278
|
Charge for the year
|
3,882
|
10,083
|
18,026
|
31,991
|
Disposals
|
–
|
(
8,707)
|
–
|
(
8,707)
|
|
---------
|
---------
|
---------
|
---------
|
At 5 April 2020
|
59,799
|
124,110
|
241,653
|
425,562
|
|
---------
|
---------
|
---------
|
---------
|
Carrying amount
|
|
|
|
|
At 5 April 2020
|
190,201
|
34,292
|
98,078
|
322,571
|
|
---------
|
---------
|
---------
|
---------
|
At 5 April 2019
|
194,083
|
50,416
|
111,109
|
355,608
|
|
---------
|
---------
|
---------
|
---------
|
|
|
|
|
|
7.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
110,780
|
156,191
|
Other debtors
|
500
|
–
|
|
---------
|
---------
|
|
111,280
|
156,191
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
10,894
|
29,566
|
Corporation tax
|
2,623
|
5,170
|
Social security and other taxes
|
31,196
|
55,244
|
Other creditors
|
–
|
225
|
Other creditors
|
8,729
|
9,876
|
|
--------
|
---------
|
|
53,442
|
100,081
|
|
--------
|
---------
|
|
|
|
9.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
Balance brought forward and outstanding
|
|
2020
|
2019
|
|
£
|
£
|
Mr D P Coghlan
|
(
84)
|
(
794)
|
|
----
|
----
|
|
|
|
10.
Related party transactions
The company was under the control of Mr Coghlan throughout the current and previous year. Mr Coghlan is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.