9
false
false
false
false
false
false
false
false
false
true
false
false
true
true
true
true
true
true
No description of principal activity
2019-11-01
Sage Accounts Production Advanced 2020 - FRS102_2019
2
2
2
xbrli:pure
xbrli:shares
iso4217:GBP
02594186
2019-11-01
2020-10-31
02594186
2020-10-31
02594186
2019-10-31
02594186
2018-11-01
2019-10-31
02594186
2019-10-31
02594186
core:FurnitureFittings
2019-11-01
2020-10-31
02594186
bus:Director1
2019-11-01
2020-10-31
02594186
core:LandBuildings
2019-10-31
02594186
core:FurnitureFittings
2019-10-31
02594186
core:LandBuildings
2020-10-31
02594186
core:FurnitureFittings
2020-10-31
02594186
core:WithinOneYear
2020-10-31
02594186
core:WithinOneYear
2019-10-31
02594186
core:ShareCapital
2020-10-31
02594186
core:ShareCapital
2019-10-31
02594186
core:RetainedEarningsAccumulatedLosses
2020-10-31
02594186
core:RetainedEarningsAccumulatedLosses
2019-10-31
02594186
core:CostValuation
core:Non-currentFinancialInstruments
2020-10-31
02594186
core:Non-currentFinancialInstruments
2020-10-31
02594186
core:Non-currentFinancialInstruments
2019-10-31
02594186
core:LandBuildings
2019-10-31
02594186
core:FurnitureFittings
2019-10-31
02594186
bus:SmallEntities
2019-11-01
2020-10-31
02594186
bus:AuditExemptWithAccountantsReport
2019-11-01
2020-10-31
02594186
bus:FullAccounts
2019-11-01
2020-10-31
02594186
bus:SmallCompaniesRegimeForAccounts
2019-11-01
2020-10-31
02594186
bus:PrivateLimitedCompanyLtd
2019-11-01
2020-10-31
02594186
core:OfficeEquipment
2019-11-01
2020-10-31
02594186
core:OfficeEquipment
2019-10-31
02594186
core:OfficeEquipment
2020-10-31
COMPANY REGISTRATION NUMBER:
02594186
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 OCTOBER 2020
Statement of financial position
|
1
|
|
|
Notes to the financial statements
|
3
|
|
|
STATEMENT OF FINANCIAL POSITION
|
|
31 October 2020
FIXED ASSETS
Tangible assets
|
5
|
|
503,491
|
|
501,198
|
Investments
|
6
|
|
2
|
|
2
|
|
|
---------
|
|
---------
|
|
|
503,493
|
|
501,200
|
|
|
|
|
|
|
CURRENT ASSETS
Stocks
|
245
|
|
900
|
|
Debtors
|
7
|
158,149
|
|
188,873
|
|
Cash at bank and in hand
|
723,540
|
|
627,827
|
|
|
---------
|
|
---------
|
|
|
881,934
|
|
817,600
|
|
|
|
|
|
|
|
CREDITORS: Amounts falling due within one year
|
8
|
(
158,530)
|
|
(
169,027)
|
|
|
---------
|
|
---------
|
|
NET CURRENT ASSETS
|
|
723,404
|
|
648,573
|
|
|
------------
|
|
------------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
1,226,897
|
|
1,149,773
|
|
|
------------
|
|
------------
|
NET ASSETS
|
|
1,226,897
|
|
1,149,773
|
|
|
------------
|
|
------------
|
|
|
|
|
|
|
CAPITAL AND RESERVES
Called up share capital
|
|
100
|
|
100
|
Profit and loss account
|
|
1,226,797
|
|
1,149,673
|
|
|
------------
|
|
------------
|
SHAREHOLDERS FUNDS
|
|
1,226,897
|
|
1,149,773
|
|
|
------------
|
|
------------
|
|
|
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 31 October 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 October 2020
These financial statements were approved by the
board of directors
and authorised for issue on
28 April 2021
, and are signed on behalf of the board by:
Company registration number:
02594186
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 OCTOBER 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Maidstone Building Mews, 72-76 Borough High Street, London, SE1 1GN.
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 profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. (a) Disclosures in respect of each class of share capital have not been presented. (b) No cash flow statement has been presented for the company. (c) Disclosures in respect of financial instruments have not been presented. (d) Disclosures in respect of share-based payments have not been presented. (e) No disclosure has been given for the aggregate remuneration of key management personnel.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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:
|
Fixtures and fittings
|
-
|
20% straight line
|
|
Equipment
|
-
|
25% straight line
|
|
|
|
|
It is the directors opinion that the useful economic life of the company's leasehold property is the length of the lease of 999 years. No depreciation is therefore charged as this would be immaterial.
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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 and the performance 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. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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
9
(2019:
8
).
5.
Tangible assets
|
Land and buildings
|
Fixtures and fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
At 1 November 2019
|
496,387
|
49,933
|
165,241
|
711,561
|
Additions
|
–
|
–
|
4,068
|
4,068
|
|
---------
|
--------
|
---------
|
---------
|
At 31 October 2020
|
496,387
|
49,933
|
169,309
|
715,629
|
|
---------
|
--------
|
---------
|
---------
|
Depreciation
|
|
|
|
|
At 1 November 2019
|
–
|
49,284
|
161,079
|
210,363
|
Charge for the year
|
–
|
129
|
1,646
|
1,775
|
|
---------
|
--------
|
---------
|
---------
|
At 31 October 2020
|
–
|
49,413
|
162,725
|
212,138
|
|
---------
|
--------
|
---------
|
---------
|
Carrying amount
|
|
|
|
|
At 31 October 2020
|
496,387
|
520
|
6,584
|
503,491
|
|
---------
|
--------
|
---------
|
---------
|
At 31 October 2019
|
496,387
|
649
|
4,162
|
501,198
|
|
---------
|
--------
|
---------
|
---------
|
|
|
|
|
|
6.
Investments
|
Shares in group undertakings
|
|
£
|
Cost
|
|
At 1 November 2019 and 31 October 2020
|
2
|
|
----
|
Impairment
|
|
At 1 November 2019 and 31 October 2020
|
–
|
|
----
|
|
|
Carrying amount
|
|
At 31 October 2020
|
2
|
|
----
|
At 31 October 2019
|
2
|
|
----
|
|
|
Shares in group undertakings represents a 100% investment in Enem Limited. This company is incorporated in the United Kingdom and is dormant.
7.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
132,081
|
165,780
|
Other debtors
|
26,068
|
23,093
|
|
---------
|
---------
|
|
158,149
|
188,873
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
Amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
21,740
|
57,959
|
Corporation tax
|
38,032
|
43,849
|
Social security and other taxes
|
76,682
|
52,289
|
Other creditors
|
22,076
|
14,930
|
|
---------
|
---------
|
|
158,530
|
169,027
|
|
---------
|
---------
|
|
|
|
9.
Directors' advances, credits and guarantees
There are no transactions with directors such as are required to be reported for the current or previous year.
10.
Related party transactions
There are no related party transactions such as are required to be reported for the current or previous year.