7
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2021-04-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
02977835
2021-04-01
2022-03-31
02977835
2022-03-31
02977835
2021-03-31
02977835
2020-04-01
2021-03-31
02977835
2021-03-31
02977835
core:FurnitureFittings
2021-04-01
2022-03-31
02977835
core:MotorVehicles
2021-04-01
2022-03-31
02977835
bus:Director4
2021-04-01
2022-03-31
02977835
core:FurnitureFittings
2021-03-31
02977835
core:FurnitureFittings
2022-03-31
02977835
core:MotorVehicles
2022-03-31
02977835
core:WithinOneYear
2022-03-31
02977835
core:WithinOneYear
2021-03-31
02977835
core:AfterOneYear
2022-03-31
02977835
core:AfterOneYear
2021-03-31
02977835
core:ShareCapital
2022-03-31
02977835
core:ShareCapital
2021-03-31
02977835
core:RetainedEarningsAccumulatedLosses
2022-03-31
02977835
core:RetainedEarningsAccumulatedLosses
2021-03-31
02977835
core:FurnitureFittings
2021-03-31
02977835
bus:SmallEntities
2021-04-01
2022-03-31
02977835
bus:AuditExemptWithAccountantsReport
2021-04-01
2022-03-31
02977835
bus:FullAccounts
2021-04-01
2022-03-31
02977835
bus:SmallCompaniesRegimeForAccounts
2021-04-01
2022-03-31
02977835
bus:PrivateLimitedCompanyLtd
2021-04-01
2022-03-31
COMPANY REGISTRATION NUMBER:
02977835
Filleted Unaudited Financial Statements
|
|
31 March 2022
Fixed assets
Tangible assets
|
5
|
|
10,060
|
634
|
|
|
|
|
|
Current assets
Stocks
|
1,038,527
|
|
1,038,527
|
Debtors
|
6
|
269,501
|
|
260,759
|
Cash at bank and in hand
|
375,315
|
|
483,085
|
|
------------
|
|
------------
|
|
1,683,343
|
|
1,782,371
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
(
362,727)
|
|
(
428,031)
|
|
------------
|
|
------------
|
Net current assets
|
|
1,320,616
|
1,354,340
|
|
|
------------
|
------------
|
Total assets less current liabilities
|
|
1,330,676
|
1,354,974
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
8
|
|
(
458,507)
|
(
446,838)
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
371
|
–
|
|
|
------------
|
------------
|
Net assets
|
|
872,540
|
908,136
|
|
|
------------
|
------------
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1,000
|
1,000
|
Profit and loss account
|
|
871,540
|
907,136
|
|
|
---------
|
---------
|
Shareholders funds
|
|
872,540
|
908,136
|
|
|
---------
|
---------
|
|
|
|
|
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 March 2022 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
.
Balance Sheet (continued)
|
|
31 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
12 August 2022
, and are signed on behalf of the board by:
Mr. S.R. Bhundia
|
Director
|
|
Company registration number:
02977835
Notes to the Financial Statements
|
|
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 7 High Road, Willesden, London, NW10 2TE.
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.
Revenue recognition
Revenue, which is shown net of Value Added Tax, mainly arises from letting commissions and is recognised on the receipt of the rentals due from the tenants. Rental income from property and cash machine is recognised when receivable under the terms of the lease agreement. These together with interest receivable are shown as other operating income.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non- discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on the tax rate and laws that have been enacted by the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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
|
-
|
25% reducing balance
|
|
Motor vehicle
|
-
|
25% reducing balance
|
|
|
|
|
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 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.
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 balance sheet 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.
Debtors
Basic financial assets, including trade and other debtors, 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, less any impairment.
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.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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 payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
7
(2021:
6
).
5.
Tangible assets
|
Fixtures and fittings
|
Motor vehicles
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 April 2021
|
10,185
|
–
|
10,185
|
Additions
|
–
|
12,780
|
12,780
|
|
--------
|
--------
|
--------
|
At 31 March 2022
|
10,185
|
12,780
|
22,965
|
|
--------
|
--------
|
--------
|
Depreciation
|
|
|
|
At 1 April 2021
|
9,551
|
–
|
9,551
|
Charge for the year
|
159
|
3,195
|
3,354
|
|
--------
|
--------
|
--------
|
At 31 March 2022
|
9,710
|
3,195
|
12,905
|
|
--------
|
--------
|
--------
|
Carrying amount
|
|
|
|
At 31 March 2022
|
475
|
9,585
|
10,060
|
|
--------
|
--------
|
--------
|
At 31 March 2021
|
634
|
–
|
634
|
|
--------
|
--------
|
--------
|
|
|
|
|
6.
Debtors
|
2022
|
2021
|
|
£
|
£
|
Trade debtors
|
13,939
|
24,912
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
253,000
|
228,000
|
Other debtors
|
2,562
|
7,847
|
|
---------
|
---------
|
|
269,501
|
260,759
|
|
---------
|
---------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Bank loans and overdrafts
|
29,000
|
65,000
|
Trade creditors
|
285,570
|
301,391
|
Corporation tax
|
8,139
|
27,228
|
Social security and other taxes
|
16,572
|
9,860
|
Other creditors
|
23,446
|
24,552
|
|
---------
|
---------
|
|
362,727
|
428,031
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2022
|
2021
|
|
£
|
£
|
Bank loans and overdrafts
|
458,507
|
446,838
|
|
---------
|
---------
|
|
|
|
Included within creditors: amounts falling due after more than one year is an amount of £338,773 (2021: £376,838) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9.
Controlling party
The ultimate parent company of the group is HSRB Holdings Ltd, a company registered in England and Wales.