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false
false
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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
124,648
5,295
129,943
90,249
5,638
95,887
34,056
34,399
1,420,000
1,340,000
70,000
1,410,000
10,000
80,000
xbrli:pure
xbrli:shares
iso4217:GBP
6746258
2022-04-01
2023-03-31
6746258
2023-03-31
6746258
2022-03-31
6746258
2021-04-01
2022-03-31
6746258
2022-03-31
6746258
core:Subsidiary1
2022-04-01
2023-03-31
6746258
core:PlantMachinery
2022-04-01
2023-03-31
6746258
bus:Director4
2022-04-01
2023-03-31
6746258
core:PlantMachinery
2022-03-31
6746258
core:PlantMachinery
2023-03-31
6746258
core:WithinOneYear
2023-03-31
6746258
core:WithinOneYear
2022-03-31
6746258
core:ShareCapital
2023-03-31
6746258
core:ShareCapital
2022-03-31
6746258
core:CapitalRedemptionReserve
2023-03-31
6746258
core:CapitalRedemptionReserve
2022-03-31
6746258
core:RetainedEarningsAccumulatedLosses
2023-03-31
6746258
core:RetainedEarningsAccumulatedLosses
2022-03-31
6746258
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
6746258
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2022-03-31
6746258
core:ImpairmentLossProvisionsForImpairmentInvestments
core:Non-currentFinancialInstruments
2023-03-31
6746258
core:Non-currentFinancialInstruments
core:ProvisionsForImpairmentInvestments
2023-03-31
6746258
core:Non-currentFinancialInstruments
2023-03-31
6746258
core:Non-currentFinancialInstruments
2022-03-31
6746258
core:PlantMachinery
2022-03-31
6746258
bus:SmallEntities
2022-04-01
2023-03-31
6746258
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
6746258
bus:FullAccounts
2022-04-01
2023-03-31
6746258
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
6746258
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
6746258
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 MARCH 2023
Statement of financial position |
1 to 2 |
|
|
Notes to the financial statements |
3 to 7 |
|
|
STATEMENT OF FINANCIAL POSITION |
|
31 March 2023
Fixed assets
Tangible assets |
5 |
|
34,056 |
34,399 |
Investments |
6 |
|
10,000 |
80,000 |
|
|
-------- |
--------- |
|
|
44,056 |
114,399 |
|
|
|
|
|
Current assets
Debtors |
7 |
1,103,599 |
|
1,255,063 |
Cash at bank and in hand |
214,041 |
|
122,940 |
|
------------ |
|
------------ |
|
1,317,640 |
|
1,378,003 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
57,951 |
|
32,296 |
|
------------ |
|
------------ |
Net current assets |
|
1,259,689 |
1,345,707 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,303,745 |
1,460,106 |
|
|
|
|
|
Provisions
Taxation including deferred tax |
|
6,470 |
6,912 |
|
|
------------ |
------------ |
Net assets |
|
1,297,275 |
1,453,194 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
Called up share capital |
|
68,000 |
68,000 |
Capital redemption reserve |
|
34,000 |
34,000 |
Profit and loss account |
|
1,195,275 |
1,351,194 |
|
|
------------ |
------------ |
Shareholders funds |
|
1,297,275 |
1,453,194 |
|
|
------------ |
------------ |
|
|
|
|
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 comprehensive income 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.
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) |
|
31 March 2023
These financial statements were approved by the
board of directors
and authorised for issue on
11 July 2023
, and are signed on behalf of the board by:
Company registration number:
6746258
NOTES TO THE 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 Unit F2, Northfleet Industrial Estate, Lower Road, Northfleet, Gravesend, Kent, DA11 9SW, United Kingdom.
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 the statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each reporting date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Statement of cash flows
The company has taken advantage of the small companies exemptions and not prepared a statement of cash flows.
Consolidation
The company 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 company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Revenue refers to the amounts earned from the Company's principal activity; that of a holding company. The revenue shown in the income statement represents amount invoiced during the year, exclusive of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
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 a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in the statement of comprehensive income.
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 and machinery |
- |
15% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
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.
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 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 instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
2
).
5.
Tangible assets
|
Plant and machinery |
Total |
|
£ |
£ |
Cost |
|
|
At 1 April 2022 |
124,648 |
124,648 |
Additions |
5,295 |
5,295 |
|
--------- |
--------- |
At 31 March 2023 |
129,943 |
129,943 |
|
--------- |
--------- |
Depreciation |
|
|
At 1 April 2022 |
90,249 |
90,249 |
Charge for the year |
5,638 |
5,638 |
|
--------- |
--------- |
At 31 March 2023 |
95,887 |
95,887 |
|
--------- |
--------- |
Carrying amount |
|
|
At 31 March 2023 |
34,056 |
34,056 |
|
--------- |
--------- |
At 31 March 2022 |
34,399 |
34,399 |
|
--------- |
--------- |
|
|
|
6.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
1,420,000 |
|
------------ |
Impairment |
|
At 1 April 2022 |
1,340,000 |
Impairment losses |
70,000 |
|
------------ |
At 31 March 2023 |
1,410,000 |
|
------------ |
|
|
Carrying amount |
|
At 31 March 2023 |
10,000 |
|
------------ |
At 31 March 2022 |
80,000 |
|
------------ |
|
|
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
Subsidiaries, associates and other investments
|
Class of share |
Percentage of shares held |
Subsidiary undertakings |
|
|
Blazon Fabrications Limited |
Ordinary |
100 |
|
|
|
7.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1,075,063 |
1,255,063 |
Other debtors |
28,536 |
– |
|
------------ |
------------ |
|
1,103,599 |
1,255,063 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Corporation tax |
– |
19,008 |
Social security and other taxes |
10,931 |
11,788 |
Other creditors |
47,020 |
1,500 |
|
-------- |
-------- |
|
57,951 |
32,296 |
|
-------- |
-------- |
|
|
|
9.
Director's advances, credits and guarantees
At the balance sheet, £10,000 was owed by the Director. This balance was interest free and repayable on demand.