for the Period Ended 30 September 2020
Directors report | |
Profit and loss | |
Balance sheet | |
Additional notes | |
Balance sheet notes |
Directors' report period ended
The directors present their report with the financial statements of the company for the period ended 30 September 2020
Principal activities of the company
Political and charitable donations
Company policy on disabled employees
Additional information
An indication of likely future developments in the business and particulars of significant events which have occurred since the end of the financial year have been included in the Strategic Report on page 2.
Directors
The directors shown below have held office during the whole of the period from
1 October 2019 to 30 September 2020
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
And signed on behalf of the board by:
Name:
Status: Director
for the Period Ended
2020 | 2019 | |
---|---|---|
| £ | £ |
Turnover: | | |
Cost of sales: | ( | ( |
Gross profit(or loss): | | |
Distribution costs: | | |
Administrative expenses: | ( | ( |
Other operating income: | | |
Operating profit(or loss): | ( | |
Interest receivable and similar income: | | |
Interest payable and similar charges: | ( | ( |
Profit(or loss) before tax: | ( | |
Tax: | ( | ( |
Profit(or loss) for the financial year: | ( | |
As at
Notes | 2020 | 2019 | |
---|---|---|---|
| £ | £ | |
Called up share capital not paid: | | | |
Fixed assets | |||
Intangible assets: | 3 | | |
Tangible assets: | 4 | | |
Investments: | 5 | | |
Total fixed assets: | | | |
Current assets | |||
Stocks: | 6 | | |
Debtors: | 7 | | |
Cash at bank and in hand: | | | |
Total current assets: | | | |
Creditors: amounts falling due within one year: | 8 | ( | ( |
Net current assets (liabilities): | | | |
Total assets less current liabilities: | | | |
Creditors: amounts falling due after more than one year: | 9 | ( | ( |
Provision for liabilities: | ( | ( | |
Total net assets (liabilities): | | | |
Capital and reserves | |||
Called up share capital: | | | |
Share premium account: | | | |
Other reserves: | ( | ( | |
Profit and loss account: | | | |
Total Shareholders' funds: | | |
The notes form part of these financial statements
This report was approved by the board of directors on
and signed on behalf of the board by:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 September 2020
Basis of measurement and preparation
Turnover policy
Tangible fixed assets depreciation policy
Intangible fixed assets amortisation policy
Other accounting policies
for the Period Ended 30 September 2020
2020 | 2019 | |
---|---|---|
Average number of employees during the period | | |
for the Period Ended 30 September 2020
Goodwill | Other | Total | |
---|---|---|---|
Cost | £ | £ | £ |
At 1 October 2019 | | | |
Additions | | | |
Disposals | ( | ( | ( |
Revaluations | |||
Transfers | | | |
At 30 September 2020 | | | |
Amortisation | |||
At 1 October 2019 | | | |
Charge for year | | | |
On disposals | ( | ( | |
Other adjustments | |||
At 30 September 2020 | | | |
Net book value | |||
At 30 September 2020 | | | |
At 30 September 2019 | | | |
for the Period Ended 30 September 2020
Land & buildings | Plant & machinery | Fixtures & fittings | Office equipment | Motor vehicles | Total | |
---|---|---|---|---|---|---|
Cost | £ | £ | £ | £ | £ | £ |
At 1 October 2019 | | | | | | |
Additions | | | | | | |
Disposals | ( | ( | ( | | ( | ( |
Revaluations | | | | | | |
Transfers | | | | | | |
At 30 September 2020 | | | | | | |
Depreciation | ||||||
At 1 October 2019 | | | | | | |
Charge for year | | | | | | |
On disposals | ( | ( | ( | | ( | ( |
Other adjustments | | | | | | |
At 30 September 2020 | | | | | | |
Net book value | ||||||
At 30 September 2020 | | | | | | |
At 30 September 2019 | | | | | | |
for the Period Ended 30 September 2020
) Recognition and initial measurementTrade receivables and debt securities issued are initially recognised when they are originated. All other financial assets and financial liabilities are initially recognised when the Groupbecomes a party to the contractual provisions of the instrument.A financial asset (unless it is a trade receivable without a significant financing component) or financial liability is initially measured at fair value plus, for an item not at FVPL, transaction costs that are directly attributable to its acquisition or issue. A trade receivable without a significant financing component is initially measured at the transaction price.ii) Classification and subsequent measurementFinancial assets(a) ClassificationOn initial recognition, a financial asset is classified as measured at: amortised cost; FVOCI –debt investment; FVOCI – equity investment; or FVPL.Financial assets are not reclassified subsequent to their initial recognition unless the Groupchanges its business model for managing financial assets in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model.A financial asset is measured at amortised cost if it meets both of the following conditions:- it is held within a business model whose objective is to hold assets to collect contractual cash flows; and- its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.A debt investment is measured at FVOCI if it meets both of the following conditions:- it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and- its contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.1.5 Financial instrumentsii) Classification and subsequent measurement (continued)Financial assets (continued)On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI. This election is made on an investment-by-investment basis.All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVPL. This includes all derivative financial assets.Investments in joint ventures, associates and subsidiaries are carried at cost less impairment.Cash and cash equivalentsCash and cash equivalents comprise cash balances and call deposits. Bank overdrafts that are repayable on demand and form an integral part of the Group’s cash management are included as a component of cash and cash equivalents for the purpose only of the cash flow statement.(b) Subsequent measurement and gains and lossesFinancial assets at FVPL - these assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognised in profit or loss. Financial assets at amortised cost - These assets are subsequently measured at amortised cost using the effective interest method. The amortised cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognised in profit or loss. Any gain or loss on derecognition is recognised in profit or loss.Debt investments at FVOCI - these assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognised in profit or loss. Other net gains and losses are recognised in OCI. On derecognition, gains and losses accumulated in OCI are reclassified to profit or loss.Equity investments at FVOCI - these assets are subsequently measured at fair value. Dividends are recognised as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognised in OCI and are never reclassified to profit or loss.Financial liabilities and equityFinancial instruments issued by the Group are treated as equity only to the extent that they meet the following two conditions: (a) they include no contractual obligations upon the Group to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Group; and (b) where the instrument will or may be settled in the Group’s own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Group’s own equity instruments or is a derivative that will be settled by the Group’sexchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Group’s own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares. ii) Classification and subsequent measurement (continued)Financial liabilities and equity (continued)Financial liabilities are classified as measured at amortised cost or FVPL. A financial liability is classified as at FVPL if it is classified as held-for-trading, it is a derivative or it is designated as such on initial recognition. Financial liabilities at FVPL are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss. Other financial liabilities are subsequently measured at amortised cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognised in profit or loss. Any gain or loss on derecognition is also recognised in profit or loss.iii) Derivative financial instrumentsDerivative financial instruments are recognised at fair value. The gain or loss on remeasurement to fair value is recognised immediately in profit or loss.iv) ImpairmentThe Group recognises loss allowances for expected credit losses (ECLs) on financial assets measured at amortised cost, debt investments measured at FVOCI and contract assets (as defined in IFRS 15).The Group measures loss allowances at an amount equal to lifetime ECL, except for other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition, which are measured as 12-month ECL.Loss allowances for trade receivables and contract assets are always measured at an amount equal to lifetime ECL.When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating ECL, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and including forward-looking information. The Group considers a financial asset to be in default when the borrower is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realising security (if any is held).Lifetime ECLs are the ECLs that result from all possible default events over the expected life of a financial instrument. 12-month ECLs are the portion of ECLs that result from default events that are possible within the 12 months after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months). The maximum period considered when estimating ECLs is the maximum contractual period over which the company is exposed to credit risk.Measurement of ECLsECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the entity in accordance with the contract and the cash flows that the Group expects to receive). ECLs are discounted at the effective interest rate of the financial asset.iv) Impairment (continued)Credit-impaired financial assetsAt each reporting date, the Group assesses whether financial assets carried at amortised cost and debt securities at FVOCI are credit-impaired. A financial asset is ‘credit-impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred.Write-offsThe gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery.
for the Period Ended 30 September 2020
2020 | 2019 | |
---|---|---|
£ | £ | |
Stocks | | |
Payments on account | | |
Total | | |
for the Period Ended 30 September 2020
2020 | 2019 | |
---|---|---|
£ | £ | |
Trade debtors | | |
Prepayments and accrued income | | |
Other debtors | | |
Total | | |
for the Period Ended 30 September 2020
2020 | 2019 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Trade creditors | | |
Taxation and social security | | |
Accruals and deferred income | | |
Other creditors | | |
Total | | |
for the Period Ended 30 September 2020
2020 | 2019 | |
---|---|---|
£ | £ | |
Bank loans and overdrafts | | |
Amounts due under finance leases and hire purchase contracts | | |
Other creditors | | |
Total | | |
for the Period Ended 30 September 2020