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No description of principal activity
2018-08-01
Sage Accounts Production Advanced 2018 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
4872340
2018-08-01
2019-07-31
4872340
2019-07-31
4872340
2018-07-31
4872340
2017-08-01
2018-07-31
4872340
2018-07-31
4872340
core:NetGoodwill
2018-08-01
2019-07-31
4872340
core:PlantMachinery
2018-08-01
2019-07-31
4872340
core:MotorVehicles
2018-08-01
2019-07-31
4872340
bus:Director1
2018-08-01
2019-07-31
4872340
core:WithinOneYear
2019-07-31
4872340
core:WithinOneYear
2018-07-31
4872340
core:ShareCapital
2019-07-31
4872340
core:ShareCapital
2018-07-31
4872340
core:RetainedEarningsAccumulatedLosses
2019-07-31
4872340
core:RetainedEarningsAccumulatedLosses
2018-07-31
4872340
bus:Director1
2018-07-31
4872340
bus:Director1
2019-07-31
4872340
bus:Director1
2017-07-31
4872340
bus:Director1
2018-07-31
4872340
bus:Director1
2017-08-01
2018-07-31
4872340
bus:SmallEntities
2018-08-01
2019-07-31
4872340
bus:AuditExempt-NoAccountantsReport
2018-08-01
2019-07-31
4872340
bus:AbridgedAccounts
2018-08-01
2019-07-31
4872340
bus:SmallCompaniesRegimeForAccounts
2018-08-01
2019-07-31
4872340
bus:PrivateLimitedCompanyLtd
2018-08-01
2019-07-31
4872340
core:OfficeEquipment
2018-08-01
2019-07-31
COMPANY REGISTRATION NUMBER:
4872340
Filleted Unaudited Abridged Financial Statements
|
|
Abridged Statement of Financial Position
|
|
31 July 2019
Fixed assets
Tangible assets
|
6
|
|
22,132
|
26,364
|
|
|
|
|
|
Current assets
Stocks
|
1,000
|
|
1,000
|
Debtors
|
30,330
|
|
19,475
|
|
--------
|
|
--------
|
|
31,330
|
|
20,475
|
|
|
|
|
Creditors: amounts falling due within one year
|
73,505
|
|
88,194
|
|
--------
|
|
--------
|
Net current liabilities
|
|
42,175
|
67,719
|
|
|
--------
|
--------
|
Total assets less current liabilities
|
|
(
20,043)
|
(
41,355)
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
2,889
|
3,404
|
|
|
--------
|
--------
|
Net liabilities
|
|
(
22,932)
|
(
44,759)
|
|
|
--------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
200
|
200
|
Profit and loss account
|
|
(
23,132)
|
(
44,959)
|
|
|
--------
|
--------
|
Shareholders deficit
|
|
(
22,932)
|
(
44,759)
|
|
|
--------
|
--------
|
|
|
|
|
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 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 comprehensive income has not been delivered.
For the year ending 31 July 2019 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 abridged 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued)
|
|
31 July 2019
These abridged financial statements were approved by the
board of directors
and authorised for issue on
16 April 2020
, and are signed on behalf of the board by:
Company registration number:
4872340
Notes to the Abridged Financial Statements
|
|
Year ended 31 July 2019
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 4 Hadleigh Business Centre, 351 London Road, Hadleigh, Essex, SS7 2BT.
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, as modified by the revaluation of certain financial assets and liabilities 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 and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Corporation 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.
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:
|
Goodwill
|
-
|
10% 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.
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:
|
Plant & Machinery
|
-
|
15% reducing balance
|
|
Motor Vehicles
|
-
|
25% reducing balance
|
|
Equipment
|
-
|
25% 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.
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.
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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities
.
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
2
(2018:
2
).
5.
Intangible assets
|
£
|
Cost
|
|
At 1 August 2018 and 31 July 2019
|
30,000
|
|
--------
|
Amortisation
|
|
At 1 August 2018 and 31 July 2019
|
30,000
|
|
--------
|
Carrying amount
|
|
At 31 July 2019
|
–
|
|
--------
|
At 31 July 2018
|
–
|
|
--------
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 August 2018
|
117,921
|
Additions
|
355
|
|
---------
|
At 31 July 2019
|
118,276
|
|
---------
|
Depreciation
|
|
At 1 August 2018
|
91,557
|
Charge for the year
|
4,587
|
|
---------
|
At 31 July 2019
|
96,144
|
|
---------
|
Carrying amount
|
|
At 31 July 2019
|
22,132
|
|
---------
|
At 31 July 2018
|
26,364
|
|
---------
|
|
|
7.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2019
|
2018
|
|
£
|
£
|
Not later than 1 year
|
–
|
918
|
|
----
|
----
|
|
|
|
8.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2019
|
|
|
Balance brought forward
|
Advances/ (credits) to the director
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
T C Chambers
|
(
29,940)
|
1,549
|
(
28,391)
|
|
|
--------
|
-------
|
--------
|
|
|
|
|
|
|
2018
|
|
|
Balance brought forward
|
Advances/ (credits) to the director
|
Balance outstanding
|
|
|
£
|
£
|
£
|
|
T C Chambers
|
(
6,629)
|
(
23,311)
|
(
29,940)
|
|
|
-------
|
--------
|
--------
|
|
|
|
|
|
9.
Related party transactions
The company was under the control of Mr T Chambers throughout the current and previous year. Mr T Chambers is the managing director and he and his wife own all the shares in the company.