7
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
true
No description of principal activity
2021-02-01
Sage Accounts Production Advanced 2021 - FRS102_2021
480,000
480,000
xbrli:pure
xbrli:shares
iso4217:GBP
06456444
2021-02-01
2022-01-31
06456444
2022-01-31
06456444
2021-01-31
06456444
2020-02-01
2021-01-31
06456444
2021-01-31
06456444
core:NetGoodwill
2021-02-01
2022-01-31
06456444
core:PlantMachinery
2021-02-01
2022-01-31
06456444
core:FurnitureFittings
2021-02-01
2022-01-31
06456444
bus:Director5
2021-02-01
2022-01-31
06456444
bus:Director6
2021-02-01
2022-01-31
06456444
core:WithinOneYear
2022-01-31
06456444
core:WithinOneYear
2021-01-31
06456444
core:NetGoodwill
2022-01-31
06456444
core:PlantMachinery
2021-01-31
06456444
core:FurnitureFittings
2021-01-31
06456444
core:PlantMachinery
2022-01-31
06456444
core:FurnitureFittings
2022-01-31
06456444
core:ShareCapital
2022-01-31
06456444
core:ShareCapital
2021-01-31
06456444
core:CapitalRedemptionReserve
2022-01-31
06456444
core:CapitalRedemptionReserve
2021-01-31
06456444
core:RetainedEarningsAccumulatedLosses
2022-01-31
06456444
core:RetainedEarningsAccumulatedLosses
2021-01-31
06456444
core:PlantMachinery
2021-01-31
06456444
core:FurnitureFittings
2021-01-31
06456444
bus:SmallEntities
2021-02-01
2022-01-31
06456444
bus:AuditExemptWithAccountantsReport
2021-02-01
2022-01-31
06456444
bus:FullAccounts
2021-02-01
2022-01-31
06456444
bus:SmallCompaniesRegimeForAccounts
2021-02-01
2022-01-31
06456444
bus:PrivateLimitedCompanyLtd
2021-02-01
2022-01-31
COMPANY REGISTRATION NUMBER:
06456444
FILLETED UNAUDITED FINANCIAL STATEMENTS
|
|
STATEMENT OF FINANCIAL POSITION
|
|
31 January 2022
FIXED ASSETS
Tangible assets
|
6
|
|
6,301
|
|
12,132
|
|
|
|
|
|
|
CURRENT ASSETS
Work in progress
|
57,125
|
|
43,919
|
|
Debtors
|
7
|
44,216
|
|
56,581
|
|
Cash at bank and in hand
|
45,650
|
|
29,921
|
|
|
----------
|
|
----------
|
|
|
146,991
|
|
130,421
|
|
|
|
|
|
|
|
CREDITORS: amounts falling due within one year
|
8
|
72,263
|
|
46,230
|
|
|
----------
|
|
----------
|
|
NET CURRENT ASSETS
|
|
74,728
|
|
84,191
|
|
|
--------
|
|
--------
|
TOTAL ASSETS LESS CURRENT LIABILITIES
|
|
81,029
|
|
96,323
|
|
|
--------
|
|
--------
|
NET ASSETS
|
|
81,029
|
|
96,323
|
|
|
--------
|
|
--------
|
|
|
|
|
|
|
STATEMENT OF FINANCIAL POSITION (continued)
|
|
31 January 2022
CAPITAL AND RESERVES
Called up share capital
|
|
50
|
|
75
|
Capital redemption reserve
|
|
75
|
|
50
|
Profit and loss account
|
|
80,904
|
|
96,198
|
|
|
--------
|
|
--------
|
SHAREHOLDERS FUNDS
|
|
81,029
|
|
96,323
|
|
|
--------
|
|
--------
|
|
|
|
|
|
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 income statement has not been delivered.
For the year ending 31 January 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
25 July 2022
, and are signed on behalf of the board by:
Mr M Druery
|
Mr G Saxton
|
Director
|
Director
|
|
|
Company registration number:
06456444
NOTES TO THE FINANCIAL STATEMENTS
|
|
YEAR ENDED 31 JANUARY 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 Suite S8, The Catalyst, Baird Lane, Heslington, York, YO10 5GA.
2.
STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
ACCOUNTING POLICIES
(a)
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.
(b)
Going concern
In March 2020, the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c)
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
(d)
Current and deferred 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.
(e)
Goodwill
Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years.
(f)
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:
|
Goodwill
|
-
|
5% 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.
(g)
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.
(h)
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:
|
Computers
|
-
|
33% straight line
|
|
Fixtures and fittings
|
-
|
15% reducing balance
|
|
|
|
|
(i)
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 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.
(j)
Work in progress
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
(k)
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
(l)
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.
4.
EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to
7
(2021:
9
).
5.
INTANGIBLE ASSETS
|
Goodwill
|
|
£
|
Cost
|
|
At 1 February 2021 and 31 January 2022
|
480,000
|
|
----------
|
Amortisation
|
|
At 1 February 2021 and 31 January 2022
|
480,000
|
|
----------
|
Carrying amount
|
|
At 31 January 2022
|
–
|
|
----------
|
At 31 January 2021
|
–
|
|
----------
|
|
|
6.
TANGIBLE ASSETS
|
Computers
|
Fixtures and fittings
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 1 February 2021 and 31 January 2022
|
19,371
|
4,526
|
23,897
|
|
--------
|
-------
|
--------
|
Depreciation
|
|
|
|
At 1 February 2021
|
8,137
|
3,628
|
11,765
|
Charge for the year
|
5,696
|
135
|
5,831
|
|
--------
|
-------
|
--------
|
At 31 January 2022
|
13,833
|
3,763
|
17,596
|
|
--------
|
-------
|
--------
|
Carrying amount
|
|
|
|
At 31 January 2022
|
5,538
|
763
|
6,301
|
|
--------
|
-------
|
--------
|
At 31 January 2021
|
11,234
|
898
|
12,132
|
|
--------
|
-------
|
--------
|
|
|
|
|
7.
DEBTORS
|
2022
|
2021
|
|
£
|
£
|
Trade debtors
|
13,618
|
17,353
|
Other debtors
|
30,598
|
39,228
|
|
--------
|
--------
|
|
44,216
|
56,581
|
|
--------
|
--------
|
|
|
|
8.
CREDITORS:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Trade creditors
|
68
|
(
108)
|
Accruals and deferred income
|
4,200
|
12,540
|
Social security and other taxes
|
871
|
12,633
|
Directors loans
|
|
|
|
--------
|
--------
|
|
72,263
|
46,230
|
|
--------
|
--------
|
|
|
|