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No description of principal activity
2022-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
08133693
2022-04-01
2023-03-31
08133693
2023-03-31
08133693
2022-03-31
08133693
2021-04-01
2022-03-31
08133693
2022-03-31
08133693
2021-03-31
08133693
core:FurnitureFittings
2022-04-01
2023-03-31
08133693
core:NetGoodwill
2022-04-01
2023-03-31
08133693
bus:OrdinaryShareClass1
2022-04-01
2023-03-31
08133693
bus:OrdinaryShareClass2
2022-04-01
2023-03-31
08133693
bus:OrdinaryShareClass3
2022-04-01
2023-03-31
08133693
bus:OrdinaryShareClass4
2022-04-01
2023-03-31
08133693
bus:OrdinaryShareClass5
2022-04-01
2023-03-31
08133693
bus:Director7
2022-04-01
2023-03-31
08133693
core:WithinOneYear
2023-03-31
08133693
core:WithinOneYear
2022-03-31
08133693
core:AfterOneYear
2023-03-31
08133693
core:AfterOneYear
2022-03-31
08133693
core:ShareCapital
2023-03-31
08133693
core:ShareCapital
2022-03-31
08133693
core:OtherReservesSubtotal
2023-03-31
08133693
core:OtherReservesSubtotal
2022-03-31
08133693
core:RetainedEarningsAccumulatedLosses
2023-03-31
08133693
core:RetainedEarningsAccumulatedLosses
2022-03-31
08133693
core:BetweenOneFiveYears
2023-03-31
08133693
core:BetweenOneFiveYears
2022-03-31
08133693
bus:SmallEntities
2022-04-01
2023-03-31
08133693
bus:AuditExemptWithAccountantsReport
2022-04-01
2023-03-31
08133693
bus:SmallCompaniesRegimeForAccounts
2022-04-01
2023-03-31
08133693
bus:PrivateLimitedCompanyLtd
2022-04-01
2023-03-31
08133693
bus:AbridgedAccounts
2022-04-01
2023-03-31
08133693
bus:OrdinaryShareClass1
2023-03-31
08133693
bus:OrdinaryShareClass1
2022-03-31
08133693
bus:OrdinaryShareClass2
2023-03-31
08133693
bus:OrdinaryShareClass2
2022-03-31
08133693
bus:OrdinaryShareClass3
2023-03-31
08133693
bus:OrdinaryShareClass3
2022-03-31
08133693
bus:OrdinaryShareClass4
2023-03-31
08133693
bus:OrdinaryShareClass4
2022-03-31
08133693
bus:OrdinaryShareClass5
2023-03-31
08133693
bus:OrdinaryShareClass5
2022-03-31
08133693
bus:AllOrdinaryShares
2023-03-31
08133693
bus:AllOrdinaryShares
2022-03-31
08133693
core:LandBuildings
core:LongLeaseholdAssets
2022-04-01
2023-03-31
08133693
core:ComputerEquipment
2022-04-01
2023-03-31
COMPANY REGISTRATION NUMBER:
08133693
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year Ended 31 March 2023
Abridged statement of financial position |
1 to 2 |
|
|
Notes to the abridged financial statements |
3 to 7 |
|
|
Abridged Statement of Financial Position |
|
31 March 2023
Fixed Assets
Intangible assets |
5 |
|
150,000 |
450,000 |
Tangible assets |
6 |
|
272,710 |
314,826 |
|
|
--------- |
--------- |
|
|
422,710 |
764,826 |
|
|
|
|
|
Current Assets
Debtors |
2,761,897 |
|
2,242,611 |
Cash at bank and in hand |
698 |
|
178,064 |
|
------------ |
|
------------ |
|
2,762,595 |
|
2,420,675 |
|
|
|
|
Creditors: amounts falling due within one year |
1,727,261 |
|
1,865,113 |
|
------------ |
|
------------ |
Net Current Assets |
|
1,035,334 |
555,562 |
|
|
------------ |
------------ |
Total Assets Less Current Liabilities |
|
1,458,044 |
1,320,388 |
|
|
|
|
Creditors: amounts falling due after more than one year |
|
89,614 |
217,708 |
|
|
|
|
Provisions
Taxation including deferred tax |
|
53,300 |
51,381 |
|
|
------------ |
------------ |
Net Assets |
|
1,315,130 |
1,051,299 |
|
|
------------ |
------------ |
|
|
|
|
Capital and Reserves
Called up share capital |
7 |
|
1,006 |
1,006 |
Other reserves |
|
2 |
2 |
Profit and loss account |
|
1,314,122 |
1,050,291 |
|
|
------------ |
------------ |
Shareholders Funds |
|
1,315,130 |
1,051,299 |
|
|
------------ |
------------ |
|
|
|
|
|
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the year ending 31 March 2023 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 abridged 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 abridged financial statements
.
Abridged Statement of Financial Position (continued) |
|
31 March 2023
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
24 October 2023
, and are signed on behalf of the board by:
Company registration number:
08133693
Notes to the Abridged Financial Statements |
|
Year Ended 31 March 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 99 Saltergate, Chesterfield, Derbyshire, S40 1LD.
2.
Statement of compliance
These abridged 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
Company information and 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
Fee income represents revenue earned from the normal activities of the firm, exclusive of Value Added Tax. Revenue is recognised when the company has a right to consideration in exchange for the performance of its duties. The right to consideration is determined by the terms and conditions of the firm which form the contract under which the services are provided. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients less a suitable allowance to recognise the uncertainties remaining in the completion of the obligations. Contingent income is recognised only when the contingent element is assured.
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
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 |
- |
10 years 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.
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:
|
Leasehold improvements |
- |
4-10% straight line |
|
Fixtures and fittings |
- |
10% straight line |
|
Computers and equipment |
- |
15-20% straight line |
|
|
|
|
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.
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.
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.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which they are incurred.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
64
(2022:
60
).
5.
Intangible assets
|
£ |
Cost |
|
At 1 April 2022 and 31 March 2023 |
3,000,000 |
|
------------ |
Amortisation |
|
At 1 April 2022 |
2,550,000 |
Charge for the year |
300,000 |
|
------------ |
At 31 March 2023 |
2,850,000 |
|
------------ |
Carrying amount |
|
At 31 March 2023 |
150,000 |
|
------------ |
At 31 March 2022 |
450,000 |
|
------------ |
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 April 2022 |
756,052 |
Additions |
25,123 |
|
--------- |
At 31 March 2023 |
781,175 |
|
--------- |
Depreciation |
|
At 1 April 2022 |
441,226 |
Charge for the year |
67,239 |
|
--------- |
At 31 March 2023 |
508,465 |
|
--------- |
Carrying amount |
|
At 31 March 2023 |
272,710 |
|
--------- |
At 31 March 2022 |
314,826 |
|
--------- |
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2023 |
2022 |
|
No. |
£ |
No. |
£ |
Ordinary shares of £ 1 each |
1,000 |
1,000 |
1,000 |
1,000 |
Ordinary A shares of £ 1 each |
1 |
1 |
1 |
1 |
Ordinary B shares of £ 1 each |
1 |
1 |
1 |
1 |
Ordinary C shares of £ 1 each |
1 |
1 |
1 |
1 |
Ordinary D shares of £ 1 each |
1 |
1 |
1 |
1 |
Ordinary E shares of £1 each |
1 |
1 |
1 |
1 |
Ordinary F shares of £1 each |
1 |
1 |
1 |
1 |
|
------- |
------- |
------- |
------- |
|
1,006 |
1,006 |
1,006 |
1,006 |
|
------- |
------- |
------- |
------- |
|
|
|
|
|
8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
|
2023 |
2022 |
|
£ |
£ |
Not later than 1 year |
149,552 |
228,202 |
Later than 1 year and not later than 5 years |
608,827 |
468,922 |
|
--------- |
--------- |
|
758,379 |
697,124 |
|
--------- |
--------- |
|
|
|
9.
Related party transactions
The directors have loaned the company amounts totalling £201,234 (2022: £288,386) at the year end. The loans are interest free.