COMPANY REGISTRATION NUMBER:
13318660
Filleted Unaudited Abridged Financial Statements
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Abridged Statement of Financial Position
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30 June 2022
Fixed assets
Tangible assets
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4
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697,157
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|
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Current assets
Debtors
|
24,585
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Cash at bank and in hand
|
868
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--------
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25,453
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Creditors: amounts falling due within one year
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744,647
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---------
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Net current liabilities
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719,194
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|
---------
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Total assets less current liabilities
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(
22,037)
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--------
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Net liabilities
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(
22,037)
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|
--------
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|
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Capital and reserves
Called up share capital
|
100
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Profit and loss account
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(
22,137)
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--------
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Shareholders deficit
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(
22,037)
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--------
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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 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 period ending 30th June 2022 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 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 abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of financial position for the period ending 30th June 2022 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued)
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30 June 2022
These abridged financial statements were approved by the
board of directors
and authorised for issue on
5 January 2023
, and are signed on behalf of the board by:
Mr B Box Dossett
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Director
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Company registration number:
13318660
Notes to the Abridged Financial Statements
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Period from 7th April 2021 to 30th June 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Chesterfield Buildings, Westbourne Place, Clifton, Bristol, BS8 1RU.
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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. This basis may not be appropriate because the company has net liabilities at 30th June 2022. The future of the company is dependent upon the continued support of the director. The accounts do not include any provisions for liabilities that may arise if the director's support is withdrawn.
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:
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Fixtures and fittings
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-
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20% reducing balance
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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.
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.
Tangible assets
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£
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Cost
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At 7th April 2021
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–
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Additions
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697,520
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|
---------
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At 30th June 2022
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697,520
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---------
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Depreciation
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|
At 7th April 2021
|
–
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Charge for the period
|
363
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---------
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At 30th June 2022
|
363
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---------
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Carrying amount
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At 30th June 2022
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697,157
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---------
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Tangible assets held at valuation
The freehold property is held by the company as investment property. The director, Mr B Box-Dossett, considers that the open market value of this property at 30th June 2022 be £693,053.
5.
Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
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30 Jun 22
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Balance brought forward
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Advances/ (credits) to the director
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Balance outstanding
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£
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£
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£
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Mr B Box Dossett
|
–
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(
741,817)
|
(
741,817)
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----
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---------
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---------
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This loan is interest free and repayable on demand.