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No description of principal activity
2017-12-01
Sage Accounts Production Advanced 2018 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
08273315
2017-12-01
2018-11-30
08273315
2018-11-30
08273315
2017-11-30
08273315
2016-12-01
2017-11-30
08273315
2017-11-30
08273315
core:NetGoodwill
2017-12-01
2018-11-30
08273315
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-12-01
2018-11-30
08273315
core:FurnitureFittings
2017-12-01
2018-11-30
08273315
bus:OrdinaryShareClass1
2017-12-01
2018-11-30
08273315
core:WithinOneYear
2018-11-30
08273315
core:WithinOneYear
2017-11-30
08273315
core:ShareCapital
2018-11-30
08273315
core:ShareCapital
2017-11-30
08273315
core:RetainedEarningsAccumulatedLosses
2018-11-30
08273315
core:RetainedEarningsAccumulatedLosses
2017-11-30
08273315
bus:Director1
2017-12-01
2018-11-30
08273315
bus:Director2
2017-12-01
2018-11-30
08273315
bus:SmallEntities
2017-12-01
2018-11-30
08273315
bus:AuditExemptWithAccountantsReport
2017-12-01
2018-11-30
08273315
bus:AbridgedAccounts
2017-12-01
2018-11-30
08273315
bus:SmallCompaniesRegimeForAccounts
2017-12-01
2018-11-30
08273315
bus:PrivateLimitedCompanyLtd
2017-12-01
2018-11-30
08273315
bus:OrdinaryShareClass1
2018-11-30
08273315
bus:OrdinaryShareClass1
2017-11-30
08273315
core:OfficeEquipment
2017-12-01
2018-11-30
COMPANY REGISTRATION NUMBER:
08273315
Filleted Unaudited Financial Statements
|
|
Abridged Statement of Financial Position
|
|
30 November 2018
Fixed assets
Tangible assets
|
6
|
|
6,339
|
10,830
|
|
|
|
|
|
Current assets
Stocks
|
1,500
|
|
1,500
|
Debtors
|
23,397
|
|
23,361
|
Cash at bank and in hand
|
25,406
|
|
22,828
|
|
--------
|
|
--------
|
|
50,303
|
|
47,689
|
|
|
|
|
Creditors: amounts falling due within one year
|
71,856
|
|
55,725
|
|
--------
|
|
--------
|
Net current liabilities
|
|
21,553
|
8,036
|
|
|
--------
|
--------
|
Total assets less current liabilities
|
|
(
15,214)
|
2,794
|
|
|
--------
|
-------
|
Net (liabilities)/assets
|
|
(
15,214)
|
2,794
|
|
|
--------
|
-------
|
|
|
|
|
Capital and reserves
Called up share capital
|
7
|
|
100
|
100
|
Profit and loss account
|
|
(
15,314)
|
2,694
|
|
|
--------
|
-------
|
Shareholders (deficit)/funds
|
|
(
15,214)
|
2,794
|
|
|
--------
|
-------
|
|
|
|
|
|
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 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 income and retained earnings has not been delivered.
For the year ending 30 November 2018 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
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 November 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued)
|
|
30 November 2018
These financial statements were approved by the
board of directors
and authorised for issue on
29 August 2019
, and are signed on behalf of the board by:
Mrs D L Hyland
Director
Company registration number:
08273315
Notes to the Financial Statements
|
|
Year ended 30 November 2018
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 1A Hilton Business Park, The Mease, Derby, Derbyshire, DE65 5FJ.
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
As at 30 November 2018, the company had net liabilities of £15,214. The financial statements have been prepared on a going concern basis. The directors have considered the principle risks and uncertainties that apply to the business and after making enquiries the directors have a reasonable expectation that the company will continue to trade for a period of at least 12 months from the date of these financial statements and accordingly continues to the directors continue to adopt the going concern basis in preparing these financial statements.
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.
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
|
-
|
20% 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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Leashold property
|
-
|
10% straight line
|
|
Fixtures, fittings and equipment
|
-
|
15% reducing balance
|
|
Equipment
|
-
|
33% 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. 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.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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.
Particulars of employees
The average number of persons employed by the company during the year amounted to
24
(2017:
29
).
5.
Intangible assets
|
£
|
Cost
|
|
At 1 December 2017 and 30 November 2018
|
100,000
|
|
---------
|
Amortisation
|
|
At 1 December 2017 and 30 November 2018
|
100,000
|
|
---------
|
Carrying amount
|
|
At 30 November 2018
|
–
|
|
---------
|
At 30 November 2017
|
–
|
|
---------
|
|
|
6.
Tangible assets
|
£
|
Cost
|
|
At 1 December 2017 and 30 November 2018
|
30,036
|
|
--------
|
Depreciation
|
|
At 1 December 2017
|
19,206
|
Charge for the year
|
4,491
|
|
--------
|
At 30 November 2018
|
23,697
|
|
--------
|
Carrying amount
|
|
At 30 November 2018
|
6,339
|
|
--------
|
At 30 November 2017
|
10,830
|
|
--------
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
2018
|
2017
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
100
|
100.00
|
100
|
100.00
|
|
----
|
--------
|
----
|
--------
|
|
|
|
|
|
8.
Directors' advances, credits and guarantees
The company is controlled by the directors acting in concert. At the balance sheet date the amount owing to D Hyland in respect of her current account was £37,260 (2017 - £23,560) and the amount owing to H Jackson in respect of her current account was £2,046 (£2,046). The loans are interest free and repayable on demand.
9.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 102.