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No description of principal activity
2018-10-01
Sage Accounts Production Advanced 2020 - FRS102_2014
5,983
1,061
860,987
860,987
860,987
xbrli:pure
xbrli:shares
iso4217:GBP
09784962
2018-10-01
2019-09-30
09784962
2019-09-30
09784962
2017-10-01
2018-09-30
09784962
2018-09-30
09784962
bus:Director1
2018-10-01
2019-09-30
09784962
core:WithinOneYear
2019-09-30
09784962
core:WithinOneYear
2018-09-30
09784962
core:ShareCapital
2019-09-30
09784962
core:ShareCapital
2018-09-30
09784962
core:RetainedEarningsAccumulatedLosses
2019-09-30
09784962
core:RetainedEarningsAccumulatedLosses
2018-09-30
09784962
core:CostValuation
core:Non-currentFinancialInstruments
2019-09-30
09784962
core:Non-currentFinancialInstruments
2019-09-30
09784962
core:Non-currentFinancialInstruments
2018-09-30
09784962
bus:SmallEntities
2018-10-01
2019-09-30
09784962
bus:AuditExempt-NoAccountantsReport
2018-10-01
2019-09-30
09784962
bus:FullAccounts
2018-10-01
2019-09-30
09784962
bus:SmallCompaniesRegimeForAccounts
2018-10-01
2019-09-30
09784962
bus:PrivateLimitedCompanyLtd
2018-10-01
2019-09-30
COMPANY REGISTRATION NUMBER:
09784962
Year ended 30 September 2019
Statement of comprehensive income
|
2
|
|
|
Statement of financial position
|
3
|
|
|
Year ended 30 September 2019
The director presents his report and the unaudited accounts of the company for the year ended
30 September 2019
.
Director
The director who served the company during the year was as follows:
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
25 November 2020
and signed on behalf of the board by:
Statement of Comprehensive Income
|
|
Year ended 30 September 2019
|
2019
|
2018
|
Note
|
£
|
£
|
Turnover
|
14,749
|
15,662
|
|
|
|
|
--------
|
--------
|
Gross profit
|
14,749
|
15,662
|
|
|
|
Administrative expenses
|
(
7,408)
|
(
14,352)
|
|
--------
|
--------
|
Operating profit
|
7,341
|
1,310
|
|
|
|
Other interest receivable and similar income
|
4
|
45
|
–
|
|
--------
|
--------
|
Profit before taxation
|
7,386
|
1,310
|
|
|
|
|
Tax on profit
|
(
1,403)
|
(
249)
|
|
-------
|
-------
|
Profit for the financial year and total comprehensive income
|
5,983
|
1,061
|
|
-------
|
-------
|
|
|
|
All the activities of the company are from continuing operations.
Statement of Financial Position
|
|
30 September 2019
Fixed assets
Investments
|
5
|
860,987
|
860,987
|
|
|
|
|
Current assets
Debtors
|
6
|
2,568
|
–
|
Cash at bank and in hand
|
47,998
|
22,003
|
|
--------
|
--------
|
|
50,566
|
22,003
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
892,066
|
869,486
|
|
---------
|
---------
|
Net current liabilities
|
841,500
|
847,483
|
|
---------
|
---------
|
Total assets less current liabilities
|
19,487
|
13,504
|
|
--------
|
--------
|
Net assets
|
19,487
|
13,504
|
|
--------
|
--------
|
|
|
|
|
Capital and reserves
Called up share capital
|
99
|
99
|
Profit and loss account
|
19,388
|
13,405
|
|
--------
|
--------
|
Shareholders funds
|
19,487
|
13,504
|
|
--------
|
--------
|
|
|
|
These accounts have been prepared 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'.
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
.
These accounts were approved by the
board of directors
and authorised for issue on
25 November 2020
, and are signed on behalf of the board by:
Company registration number:
09784962
Year ended 30 September 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 162 Westbourne Grove, London, W11 2RW, United Kingdom.
2.
Statement of compliance
These accounts 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 accounts 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 accounts are prepared in sterling, which is the functional currency of the entity.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying small entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under section 1A of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.
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.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Other interest receivable and similar income
|
2019
|
2018
|
|
£
|
£
|
Interest on bank deposits
|
45
|
–
|
|
----
|
----
|
|
|
|
5.
Investments
|
Investment property
|
|
£
|
Cost
|
|
At 1 October 2018 and 30 September 2019
|
860,987
|
|
---------
|
Impairment
|
|
At 1 October 2018 and 30 September 2019
|
–
|
|
---------
|
|
|
Carrying amount
|
|
At 30 September 2019
|
860,987
|
|
---------
|
At 30 September 2018
|
860,987
|
|
---------
|
|
|
6.
Debtors
|
2019
|
2018
|
|
£
|
£
|
Other debtors
|
2,568
|
–
|
|
-------
|
----
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2019
|
2018
|
|
£
|
£
|
Corporation tax
|
1,403
|
249
|
Social security and other taxes
|
1,128
|
1,128
|
Other creditors
|
889,535
|
868,109
|
|
---------
|
---------
|
|
892,066
|
869,486
|
|
---------
|
---------
|
|
|
|
8.
Director's advances, credits and guarantees
During the financial year ended 30 September 2019 the director had access to a loan account with the Company which was in credit of £312,410 as at 30 September 2019. No amounts were owed to the Company by the director as at 30 September 2019.