17
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2020-08-01
Sage Accounts Production Advanced 2021 - FRS102_2021
13,165
13,165
17,383
15,624
xbrli:pure
xbrli:shares
iso4217:GBP
04656661
2020-08-01
2021-07-31
04656661
2021-07-31
04656661
2020-07-31
04656661
2019-08-01
2020-07-31
04656661
2020-07-31
04656661
core:FurnitureFittings
2020-08-01
2021-07-31
04656661
bus:Director5
2020-08-01
2021-07-31
04656661
core:FurnitureFittings
2020-07-31
04656661
core:FurnitureFittings
2021-07-31
04656661
core:WithinOneYear
2021-07-31
04656661
core:WithinOneYear
2020-07-31
04656661
core:AfterOneYear
2021-07-31
04656661
core:AfterOneYear
2020-07-31
04656661
core:ShareCapital
2021-07-31
04656661
core:ShareCapital
2020-07-31
04656661
core:RetainedEarningsAccumulatedLosses
2021-07-31
04656661
core:RetainedEarningsAccumulatedLosses
2020-07-31
04656661
bus:SmallEntities
2020-08-01
2021-07-31
04656661
bus:AuditExemptWithAccountantsReport
2020-08-01
2021-07-31
04656661
bus:FullAccounts
2020-08-01
2021-07-31
04656661
bus:SmallCompaniesRegimeForAccounts
2020-08-01
2021-07-31
04656661
bus:PrivateLimitedCompanyLtd
2020-08-01
2021-07-31
04656661
core:ComputerSoftware
2020-08-01
2021-07-31
04656661
core:FurnitureFittingsToolsEquipment
2020-08-01
2021-07-31
04656661
core:ComputerSoftware
2021-07-31
04656661
core:FurnitureFittingsToolsEquipment
2020-07-31
04656661
core:FurnitureFittingsToolsEquipment
2021-07-31
04656661
core:AfterOneYear
2020-08-01
2021-07-31
04656661
core:ParentEntities
2020-08-01
2021-07-31
COMPANY REGISTRATION NUMBER:
04656661
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
31 July 2021
Fixed assets
Tangible assets
|
6
|
|
2,426
|
|
–
|
|
|
|
|
|
|
Current assets
Debtors
|
7
|
1,054,765
|
|
929,986
|
|
Cash at bank and in hand
|
151,984
|
|
246,253
|
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
|
|
1,206,749
|
|
1,176,239
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
(
147,969)
|
|
(
96,074)
|
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
|
Net current assets
|
|
1,058,780
|
|
1,080,165
|
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
Total assets less current liabilities
|
|
1,061,206
|
|
1,080,165
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
|
(
239,352)
|
|
(
316,467)
|
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
Net assets
|
|
821,854
|
|
763,698
|
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ
|
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
200
|
|
200
|
Profit and loss account
|
|
821,654
|
|
763,498
|
|
|
ÄÄÄÄÄÄÄÄÄ
|
|
ÄÄÄÄÄÄÄÄÄ
|
Shareholders funds
|
|
821,854
|
|
763,698
|
|
|
ÍÍÍÍÍÍÍÍÍ
|
|
ÍÍÍÍÍÍÍÍÍ
|
|
|
|
|
|
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 July 2021 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 July 2021
These financial statements were approved by the
board of directors
and authorised for issue on
28 February 2022
, and are signed on behalf of the board by:
R.H.F. Finlayson
|
Director
|
|
Company registration number:
04656661
Notes to the Financial Statements
|
|
Year ended 31 July 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 18-22 Angel Crescent, Bridgwater, Somerset, TA6 3AL.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Research and development
Research and development expenditure is written off in the year in which it is incurred.
Taxation
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Website costs are capitalised to the extent they provide an enduring benefit to the trade.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Website costs
|
-
|
50% straight line
|
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
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
|
-
|
50% straight line
|
|
Equipment
|
-
|
50% straight line
|
|
|
|
|
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.
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 in these accounts using the accrual model. Under this 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 in which it becomes receivable.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
17
(2020:
19
).
5.
Intangible assets
|
Website costs
|
|
£
|
Cost
|
|
At 1 August 2020 and 31 July 2021
|
13,165
|
|
ÍÍÍÍÍÍÍÍ
|
Amortisation
|
|
At 1 August 2020 and 31 July 2021
|
13,165
|
|
ÍÍÍÍÍÍÍÍ
|
Carrying amount
|
|
At 31 July 2021
|
–
|
|
ÍÍÍÍÍÍÍÍ
|
At 31 July 2020
|
–
|
|
ÍÍÍÍÍÍÍÍ
|
|
|
6.
Tangible assets
|
Fixtures and fittings
|
Equipment
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 August 2020
|
79,662
|
71,741
|
151,403
|
Additions
|
–
|
3,235
|
3,235
|
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄÄ
|
At 31 July 2021
|
79,662
|
74,976
|
154,638
|
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍÍ
|
Depreciation
|
|
|
|
At 1 August 2020
|
79,662
|
71,741
|
151,403
|
Charge for the year
|
–
|
809
|
809
|
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄÄ
|
At 31 July 2021
|
79,662
|
72,550
|
152,212
|
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍÍ
|
Carrying amount
|
|
|
|
At 31 July 2021
|
–
|
2,426
|
2,426
|
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍÍ
|
At 31 July 2020
|
–
|
–
|
–
|
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍÍ
|
|
|
|
|
7.
Debtors
|
2021
|
2020
|
|
£
|
£
|
Trade debtors
|
216,018
|
73,886
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
793,000
|
789,000
|
Other debtors
|
45,747
|
67,100
|
|
ÄÄÄÄÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄÄ
|
|
1,054,765
|
929,986
|
|
ÍÍÍÍÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍÍ
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
46,000
|
3,833
|
Trade creditors
|
32,338
|
31,483
|
Taxation and social security
|
17,383
|
15,624
|
Other creditors
|
52,248
|
45,134
|
|
ÄÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
|
147,969
|
96,074
|
|
ÍÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
|
|
|
The company has granted a fixed and floating charge on its assets to secure the bank indebtedness.
The company has taken advantage of the Coronavirus business interruption loan scheme and this is reflected in the figure for bank loans and overdrafts.
9.
Creditors:
amounts falling due after more than one year
|
2021
|
2020
|
|
£
|
£
|
Bank loans and overdrafts
|
180,167
|
226,167
|
Other creditors
|
59,185
|
90,300
|
|
ÄÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄÄ
|
|
239,352
|
316,467
|
|
ÍÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍÍ
|
|
|
|
The company has granted a fixed and floating charge on its assets to secure the bank indebtedness.
Included within creditors: amounts falling due after more than one year is an amount of £Nil (2020: £38,333) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The company has taken advantage of the Coronavirus business interruption loan scheme and this is reflected in the figure for bank loans and overdrafts.
10.
Pension commitments
The company operates a defined contribution pension scheme for employees and the assets are held separately from those of the company in independently administered funds. At the balance sheet date unpaid contributions of £0 (2020: £923) were due to the fund. They are included in other creditors.
11.
Guarantees and other financial commitments
The company had total guarantees and commitments at the year end of £61,858 (2020: £58,353).
12.
Related party transactions
Debtors include £793,000 (2020: £789,000) due from
Arricchire Limited
, a company that owns 100% of the share capital of CSM Consulting Limited
. The amount is repayable on demand and measured at its transaction price.
13.
Controlling party
The company is a wholly owned subsidiary of
Arricchire Limited
, a company incorporated in England and Wales, number 07701268. Mr R.H.F. Finlayson
who holds the majority of shares of Arricchire Limited is the company's ultimate controller.