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false
false
false
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No description of principal activity
2020-11-01
Sage Accounts Production Advanced 2021 - FRS102_2021
862
862
862
xbrli:pure
xbrli:shares
iso4217:GBP
5984095
2020-11-01
2021-12-26
5984095
2021-12-26
5984095
2019-11-01
2020-10-31
5984095
2020-10-31
5984095
bus:OrdinaryShareClass1
2020-11-01
2021-12-26
5984095
bus:Director1
2020-11-01
2021-12-26
5984095
core:WithinOneYear
2021-12-26
5984095
core:WithinOneYear
2020-10-31
5984095
core:ShareCapital
2021-12-26
5984095
core:ShareCapital
2020-10-31
5984095
core:RetainedEarningsAccumulatedLosses
2021-12-26
5984095
core:RetainedEarningsAccumulatedLosses
2020-10-31
5984095
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2021-12-26
5984095
core:CostValuation
core:Non-currentFinancialInstruments
2021-12-26
5984095
core:Non-currentFinancialInstruments
2021-12-26
5984095
bus:SmallEntities
2020-11-01
2021-12-26
5984095
bus:AuditExempt-NoAccountantsReport
2020-11-01
2021-12-26
5984095
bus:FullAccounts
2020-11-01
2021-12-26
5984095
bus:SmallCompaniesRegimeForAccounts
2020-11-01
2021-12-26
5984095
bus:PrivateLimitedCompanyLtd
2020-11-01
2021-12-26
5984095
bus:OrdinaryShareClass1
2021-12-26
5984095
bus:OrdinaryShareClass1
2020-10-31
COMPANY REGISTRATION NUMBER:
5984095
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
26 December 2021
|
26 Dec 21
|
31 Oct 20
|
Note
|
£
|
£
|
£
|
£
|
|
|
|
|
|
Fixed assets
Current assets
Stocks
|
972,828
|
|
2,549,160
|
|
Debtors
|
6
|
2,373,184
|
|
2,158,103
|
|
Cash at bank and in hand
|
935,931
|
|
11,714
|
|
|
-----------
|
|
-----------
|
|
|
4,281,943
|
|
4,718,977
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
(
2,303,270)
|
|
(
4,113,727)
|
|
|
-----------
|
|
-----------
|
|
Net current assets
|
|
1,978,673
|
|
605,250
|
|
|
-----------
|
|
--------
|
Total assets less current liabilities
|
|
1,979,535
|
|
605,250
|
|
|
-----------
|
|
--------
|
Net assets
|
|
1,979,535
|
|
605,250
|
|
|
-----------
|
|
--------
|
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
8
|
|
1
|
|
1
|
Profit and loss account
|
|
1,979,534
|
|
605,249
|
|
|
-----------
|
|
--------
|
Shareholders funds
|
|
1,979,535
|
|
605,250
|
|
|
-----------
|
|
--------
|
|
|
|
|
|
|
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 profit and loss account has not been delivered.
For the period ending 26 December 2021 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 period 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
22 December 2022
, and are signed on behalf of the board by:
Company registration number:
5984095
NOTES TO THE FINANCIAL STATEMENTS
|
|
PERIOD FROM 1 NOVEMBER 2020 TO 26 DECEMBER 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Spring Farm, Stackyard Green, Monks Eleigh, Ipswich, IP7 7BD.
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
The Director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
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.
Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less any accumulated impairment losses.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. 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 becomes receivable.
Financial instruments
Basic financial assets, which include trade, other receivables, amounts due from group entities, other related parties and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, loans to other related parties and bank loans and overdrafts, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
6
(2020:
6
).
5.
Investments
|
Shares in group undertakings
|
|
£
|
Cost
|
|
At 1 November 2020
|
–
|
Additions
|
862
|
|
----
|
At 26 December 2021
|
862
|
|
----
|
Impairment
|
|
At 1 November 2020 and 26 December 2021
|
–
|
|
----
|
|
|
Carrying amount
|
|
At 26 December 2021
|
862
|
|
----
|
At 31 October 2020
|
–
|
|
----
|
|
|
6.
Debtors
|
26 Dec 21
|
31 Oct 20
|
|
£
|
£
|
Trade debtors
|
136,381
|
595,773
|
Amounts owed by group undertakings
|
1,100,015
|
1,288,374
|
Prepayments and accrued income
|
46,578
|
27,868
|
Amounts owed by other related parties
|
987,667
|
18,288
|
Other debtors
|
102,543
|
227,800
|
|
-----------
|
-----------
|
|
2,373,184
|
2,158,103
|
|
-----------
|
-----------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
26 Dec 21
|
31 Oct 20
|
|
£
|
£
|
Bank loans and overdrafts
|
1,247,433
|
2,163,574
|
Trade creditors
|
575,463
|
1,596,796
|
Corporation tax
|
323,863
|
103,333
|
Social security and other taxes
|
2,365
|
1,614
|
Amounts owed to other related parties
|
–
|
150,000
|
Other creditors
|
154,146
|
98,410
|
|
-----------
|
-----------
|
|
2,303,270
|
4,113,727
|
|
-----------
|
-----------
|
|
|
|
The bank loans and overdraft of £1,247,433 (2020: £2,163,574) are secured by a charge over all the assets and undertakings of both the company and Caladanian Holding Ltd.
8.
Called up share capital
Issued, called up and fully paid
|
26 Dec 21
|
31 Oct 20
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
1
|
1
|
1
|
1
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
9.
Controlling party
The immediate and ultimate parent company is
DLD Enterprises Ltd
, a company incorporated in England and Wales.