0
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2019-07-01
Sage Accounts Production Advanced 2020 - FRS102_2019
13,500
13,500
1,210
1,181
7
1,188
22
29
161,101
161,101
161,101
xbrli:pure
xbrli:shares
iso4217:GBP
05838807
2019-07-01
2020-06-30
05838807
2020-06-30
05838807
2019-06-30
05838807
2018-07-01
2019-06-30
05838807
2019-06-30
05838807
bus:Director1
2019-07-01
2020-06-30
05838807
bus:Director2
2019-07-01
2020-06-30
05838807
core:NetGoodwill
2020-06-30
05838807
core:WithinOneYear
2020-06-30
05838807
core:WithinOneYear
2019-06-30
05838807
core:ShareCapital
2020-06-30
05838807
core:ShareCapital
2019-06-30
05838807
core:SharePremium
2020-06-30
05838807
core:SharePremium
2019-06-30
05838807
core:RetainedEarningsAccumulatedLosses
2020-06-30
05838807
core:RetainedEarningsAccumulatedLosses
2019-06-30
05838807
core:CostValuation
core:Non-currentFinancialInstruments
2020-06-30
05838807
core:Non-currentFinancialInstruments
2020-06-30
05838807
core:Non-currentFinancialInstruments
2019-06-30
05838807
bus:SmallEntities
2019-07-01
2020-06-30
05838807
bus:AuditExemptWithAccountantsReport
2019-07-01
2020-06-30
05838807
bus:FullAccounts
2019-07-01
2020-06-30
05838807
bus:SmallCompaniesRegimeForAccounts
2019-07-01
2020-06-30
05838807
bus:PrivateLimitedCompanyLtd
2019-07-01
2020-06-30
05838807
core:NetGoodwill
2019-07-01
2020-06-30
05838807
core:OfficeEquipment
2019-07-01
2020-06-30
05838807
core:OfficeEquipment
2020-06-30
05838807
core:OfficeEquipment
2019-06-30
COMPANY REGISTRATION NUMBER:
05838807
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
STATEMENT OF FINANCIAL POSITION
|
|
30 June 2020
Fixed assets
Tangible assets
|
6
|
22
|
29
|
Investments
|
7
|
161,101
|
161,101
|
|
----------
|
----------
|
|
161,123
|
161,130
|
|
|
|
|
Current assets
Debtors
|
8
|
5,842
|
44,435
|
Cash at bank and in hand
|
73,759
|
31,582
|
|
---------
|
---------
|
|
79,601
|
76,017
|
|
|
|
|
Creditors: amounts falling due within one year
|
9
|
5,078
|
14,542
|
|
---------
|
---------
|
Net current assets
|
74,523
|
61,475
|
|
----------
|
----------
|
Total assets less current liabilities
|
235,646
|
222,605
|
|
|
|
|
Provisions
Taxation including deferred tax
|
4
|
5
|
|
----------
|
----------
|
Net assets
|
235,642
|
222,600
|
|
----------
|
----------
|
|
|
|
Capital and reserves
Called up share capital
|
1,000
|
1,000
|
Share premium account
|
99,750
|
99,750
|
Profit and loss account
|
134,892
|
121,850
|
|
----------
|
----------
|
Shareholders funds
|
235,642
|
222,600
|
|
----------
|
----------
|
|
|
|
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 30 June 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)
|
|
30 June 2020
These financial statements were approved by the
board of directors
and authorised for issue on
23 June 2021
, and are signed on behalf of the board by:
Mr L J Pickrell
|
Mr R Ramanandi
|
Director
|
Director
|
|
|
Company registration number:
05838807
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 30 JUNE 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 78 Bushy Park Road, Teddington, England, TW11 9DG. The principle place of business is 78 Bushy Park Road, Teddington, England, TW11 9DG. The principal activity of the company during the year was that of development and sale of website design.
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.
Going concern
The financial statements have been prepared under the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continuing support of the company's directors.
If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce the balance sheet values of the assets to their recoverable amounts and to provide for further liabilities that might arise. The director believes that it is appropriate for the financial statements to be prepared on the going concern basis.
The director considers that the uncertainty caused in the building industry as a result of Coronavirus and the restrictions put in place by the government should not materially affect the company's ability to continue as a going concern.
The company may take advantage of the support packages offered by the government, as appropriate and will continue to review and monitor costs as the situation develops.
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.
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:
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:
|
Office equipment
|
-
|
25% reducing balance
|
|
|
|
|
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
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil
(2019:
2
).
5.
Intangible assets
|
Goodwill
|
|
£
|
Cost
|
|
At 1 July 2019 and 30 June 2020
|
13,500
|
|
---------
|
Amortisation
|
|
At 1 July 2019 and 30 June 2020
|
13,500
|
|
---------
|
Carrying amount
|
|
At 30 June 2020
|
–
|
|
---------
|
At 30 June 2019
|
–
|
|
---------
|
|
|
6.
Tangible assets
|
Equipment
|
Total
|
|
£
|
£
|
Cost
|
|
|
At 1 July 2019 and 30 June 2020
|
1,210
|
1,210
|
|
-------
|
-------
|
Depreciation
|
|
|
At 1 July 2019
|
1,181
|
1,181
|
Charge for the year
|
7
|
7
|
|
-------
|
-------
|
At 30 June 2020
|
1,188
|
1,188
|
|
-------
|
-------
|
Carrying amount
|
|
|
At 30 June 2020
|
22
|
22
|
|
-------
|
-------
|
At 30 June 2019
|
29
|
29
|
|
-------
|
-------
|
|
|
|
7.
Investments
|
Other investments other than loans
|
|
£
|
Cost
|
|
At 1 July 2019 and 30 June 2020
|
161,101
|
|
----------
|
Impairment
|
|
At 1 July 2019 and 30 June 2020
|
–
|
|
----------
|
|
|
Carrying amount
|
|
At 30 June 2020
|
161,101
|
|
----------
|
At 30 June 2019
|
161,101
|
|
----------
|
|
|
8.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Other debtors
|
5,842
|
44,435
|
|
-------
|
---------
|
|
|
|
9.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Trade creditors
|
–
|
9,369
|
Social security and other taxes
|
–
|
3,026
|
Other creditors
|
3,026
|
–
|
Other creditors
|
2,052
|
2,147
|
|
-------
|
---------
|
|
5,078
|
14,542
|
|
-------
|
---------
|
|
|
|
10.
Directors' loans
As at 30 June 2020 the company owed the directors £552 (2019: £552).