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No description of principal activities is disclosed
2020-08-01
Sage Accounts Production 21.0 - FRS102_2019
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2021-07-31
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10266324
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2020-07-31
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2021-07-31
10266324
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2020-07-31
10266324
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2021-07-31
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10266324
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2021-07-31
Company registration number:
10266324
FINNEXIA TECHNOLOGY LTD
Unaudited financial statements
31 July 2021
FINNEXIA TECHNOLOGY LTD
Contents
Directors and other information
Strategic report
Directors report
Statement of comprehensive income
Statement of financial position
Statement of changes in equity
Statement of cash flows
Notes to the financial statements
FINNEXIA TECHNOLOGY LTD
Directors and other information
|
|
|
|
Directors
|
Mr Paul Moss
|
|
|
|
|
|
|
|
Company number
|
10266324
|
|
|
|
|
|
|
|
Registered office
|
Second Floor
|
|
|
17 Paradise Square
|
|
|
Sheffield
|
|
|
S1 2DE
|
|
|
|
|
|
|
|
Business address
|
Second Floor
|
|
|
17 Paradise Square
|
|
|
Sheffield,
|
|
|
S1 2DE
|
|
|
|
|
|
|
|
Accountants
|
RHJ Accountants Ltd
|
|
|
99 Parkway Avenue
|
|
|
Sheffield
|
|
|
South Yorkshire
|
|
|
S9 4WG
|
|
|
|
FINNEXIA TECHNOLOGY LTD
Strategic report
Year ended 31 July 2021
This report was approved by the board of directors on .................. and signed on behalf of the board by:
Mr Paul Moss
Director
FINNEXIA TECHNOLOGY LTD
Directors report
Year ended 31 July 2021
The directors present their report and the unaudited financial statements of the company for the year ended 31 July 2021.
Directors
The directors who served the company during the year were as follows:
Dividends
The directors do not recommend the payment of a dividend.
Particulars of recommended dividends are detailed in note 22 to the unaudited financial statements.
Events after the end of the reporting period
Particulars of events after the reporting period are detailed in note 56 to the financial statements.
This report was approved by the board of directors on
29 April 2022
and signed on behalf of the board by:
Mr Paul Moss
Director
FINNEXIA TECHNOLOGY LTD
Statement of comprehensive income
Year ended 31 July 2021
|
|
|
|
2021
|
|
2020
|
|
|
|
|
Note
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Turnover
|
|
5
|
|
48,536
|
|
292,333
|
|
|
Change in stocks of finished goods and in work in progress
|
|
|
|
(
880)
|
|
-
|
|
|
Other operating income
|
|
6
|
|
47,453
|
|
27,349
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
95,109
|
|
319,682
|
|
|
|
|
|
|
|
|
|
|
|
Staff costs
|
|
9
|
|
(
76,724)
|
|
(
83,638)
|
|
|
Depreciation and other amounts written off tangible and intangible fixed assets
|
|
|
|
(
300)
|
|
(
774)
|
|
|
Other operating expenses
|
|
|
|
(
52,713)
|
|
(
232,250)
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
Operating (loss)/profit
|
|
7
|
|
(
34,628)
|
|
3,020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
(Loss)/profit before taxation
|
|
|
|
(
34,628)
|
|
3,020
|
|
|
|
|
|
|
|
|
|
|
|
Tax on (loss)/profit
|
|
20
|
|
721
|
|
(
721)
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
(Loss)/profit for the financial year and total comprehensive income
|
|
|
|
(
33,907)
|
|
2,299
|
|
|
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
All the activities of the company are from continuing operations.
FINNEXIA TECHNOLOGY LTD
Statement of financial position
31 July 2021
|
|
|
2021
|
|
|
|
2020
|
|
|
|
|
Note
|
£
|
|
£
|
|
£
|
|
£
|
|
|
|
|
|
|
|
|
|
|
Fixed assets
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
24
|
-
|
|
|
|
300
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
-
|
|
|
|
300
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
2728
|
(
5,579)
|
|
|
|
40
|
|
|
Cash at bank and in hand
|
|
|
7,132
|
|
|
|
46,406
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
1,553
|
|
|
|
46,446
|
|
|
Creditors: amounts falling due
|
|
|
|
|
|
|
|
|
|
within one year
|
|
31
|
(
15,914)
|
|
|
|
(
27,200)
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
Net current (liabilities)/assets
|
|
|
|
|
(
14,361)
|
|
|
|
19,246
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Total assets less current liabilities
|
|
|
|
|
(
14,361)
|
|
|
|
19,546
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Net (liabilities)/assets
|
|
|
|
|
(
14,361)
|
|
|
|
19,546
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
Capital and reserves
|
|
|
|
|
|
|
|
|
|
Profit and loss account
|
|
44
|
|
|
(
14,361)
|
|
|
|
19,546
|
|
|
|
|
|
_______
|
|
|
|
_______
|
Shareholders (deficit)/funds
|
|
|
|
|
(
14,361)
|
|
|
|
19,546
|
|
|
|
|
|
_______
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
For the year ending 31 July 2021 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 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'.
These financial statements were approved by the
board of directors
and authorised for issue on
29 April 2022
, and are signed on behalf of the board by:
Mr Paul Moss
Director
Company registration number:
10266324
FINNEXIA TECHNOLOGY LTD
Statement of changes in equity
Year ended 31 July 2021
|
|
|
Profit and loss account
|
Total
|
|
|
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 August 2019
|
|
|
17,247
|
17,247
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year
|
|
|
2,299
|
2,299
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Total comprehensive income for the year
|
|
|
2,299
|
2,299
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 July 2020 and 1 August 2020
|
|
|
19,546
|
19,546
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the year
|
|
|
(
33,907)
|
(
33,907)
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Total comprehensive income for the year
|
|
|
(
33,907)
|
(
33,907)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 July 2021
|
|
|
(
14,361)
|
(
14,361)
|
|
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINNEXIA TECHNOLOGY LTD
Statement of cash flows
Year ended 31 July 2021
|
|
|
2021
|
|
2020
|
|
Note
|
|
£
|
|
£
|
|
|
|
|
|
|
Cash flows from operating activities
|
|
|
|
|
|
(Loss)/profit for the financial year
|
|
|
(
33,907)
|
|
2,299
|
|
|
|
|
|
|
Adjustments for:
|
|
|
|
|
|
Depreciation of tangible assets
|
|
|
300
|
|
774
|
Government grant income
|
|
|
(
47,453)
|
|
(
27,349)
|
Tax on loss/profit
|
|
|
(
721)
|
|
721
|
|
|
|
|
|
|
Changes in:
|
|
|
|
|
|
Trade and other debtors
|
|
|
5,619
|
|
8,333
|
Trade and other creditors
|
|
|
(
7,867)
|
|
(
22,007)
|
|
|
|
_______
|
|
_______
|
Cash generated from operations
|
46
|
|
(
84,029)
|
|
(
37,229)
|
|
|
|
|
|
|
Tax paid
|
|
|
(
722)
|
|
(
1,732)
|
|
|
|
_______
|
|
_______
|
Net cash used in operating activities
|
|
|
(
84,751)
|
|
(
38,961)
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
Cash flows from investing activities
|
|
|
|
|
|
Purchase of tangible assets
|
|
|
-
|
|
(
599)
|
|
|
|
_______
|
|
_______
|
Net cash from/(used in) investing activities
|
|
|
-
|
|
(
599)
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
|
|
Proceeds from borrowings
|
|
|
(
1,976)
|
|
50,001
|
Government grant income
|
|
|
47,453
|
|
27,349
|
|
|
|
_______
|
|
_______
|
Net cash from financing activities
|
|
|
45,477
|
|
77,350
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
Net increase/(decrease) in cash and cash equivalents
|
|
|
(
39,274)
|
|
37,790
|
Cash and cash equivalents at beginning of year
|
30
|
|
46,406
|
|
3,213
|
|
|
|
_______
|
|
_______
|
Cash and cash equivalents at end of year
|
30
|
|
7,132
|
|
41,003
|
|
|
|
_______
|
|
_______
|
|
|
|
|
|
|
FINNEXIA TECHNOLOGY LTD
Notes to the financial statements
Year ended 31 July 2021
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Second Floor, 17 Paradise Square, Sheffield, S1 2DE.
2.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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 or 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.
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 in finance costs in profit or loss in the period in which it arises.
4.
Limited by guarantee
5.
Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
6.
Other operating income
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Government grant income
|
|
47,453
|
27,349
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Operating loss/profit
Operating loss/profit is stated after charging/(crediting):
|
|
|
|
2021
|
2020
|
|
|
|
|
£
|
£
|
|
Depreciation of tangible assets
|
|
|
300
|
774
|
|
Impairment of trade debtors
|
|
|
-
|
1,006
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
8.
Auditors remuneration
9.
Staff costs
The aggregate payroll costs incurred during the year were:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Wages and salaries
|
|
71,290
|
76,343
|
|
Social security costs
|
|
2,797
|
5,025
|
|
Other pension costs
|
|
2,637
|
2,270
|
|
|
|
_______
|
_______
|
|
|
|
76,724
|
83,638
|
|
|
|
_______
|
_______
|
|
|
|
|
|
10.
Staff costs
The average number of persons employed by the company during the year amounted to
2
(2020:
2
).
The aggregate payroll costs incurred during the year were:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Wages and salaries
|
|
71,290
|
76,343
|
|
Social security costs
|
|
2,797
|
5,025
|
|
Other pension costs
|
|
2,637
|
2,270
|
|
|
|
_______
|
_______
|
|
|
|
76,724
|
83,638
|
|
|
|
_______
|
_______
|
|
|
|
|
|
11.
Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Remuneration
|
|
36,090
|
-
|
|
Company contributions to pension schemes in respect of qualifying services
|
|
2,637
|
-
|
|
|
|
_______
|
_______
|
|
|
|
38,727
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
12.
Exceptional items
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
|
|
_______
|
_______
|
|
|
|
|
|
13.
Income from shares in group undertakings
14.
Income from participating interests
15.
Income from other fixed asset investments
16.
Other interest receivable and similar income
17.
Amounts written off investments
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
|
|
_______
|
_______
|
|
|
|
|
|
18.
Interest payable and similar expenses
19.
Loss/profit before taxation
Loss/profit before taxation is stated after charging/(crediting):
|
|
|
|
2021
|
2020
|
|
|
|
|
£
|
£
|
|
Depreciation of tangible assets
|
|
|
300
|
774
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
20.
Tax on loss/profit
Major components of tax income/expense
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
UK current tax income/expense
|
|
(
721)
|
721
|
|
|
|
_______
|
_______
|
|
Tax on loss/profit
|
|
(
721)
|
721
|
|
|
|
_______
|
_______
|
|
|
|
|
|
21.
Earnings per share
Basic earnings/(loss) per share
The earnings/(loss) and weighted average number of shares used in the calculation of basic earnings/(loss) per share are as follows:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
(Loss)/profit for the year attributable to the owners of the company
|
|
(
33,907)
|
2,299
|
|
|
|
_______
|
_______
|
|
|
|
|
|
Diluted earnings/(loss) per share
The earnings/(loss) and weighted average number of shares used in the calculation of diluted earnings/(loss) per share are as follows:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Earnings/(loss) used in calculation of basic earnings/(loss) per share
|
|
(
33,907)
|
2,299
|
|
|
|
_______
|
_______
|
|
|
|
|
|
22.
Dividends
23.
Intangible assets
|
|
Total
|
|
|
|
|
|
|
|
£
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
-
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
Amortisation
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
-
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 July 2021
|
-
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
At 31 July 2020
|
-
|
|
|
|
|
|
|
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount
Carrying amount
24.
Tangible assets
|
|
Fixtures, fittings and equipment
|
Total
|
|
|
|
|
|
|
|
£
|
£
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
1,549
|
1,549
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Depreciation
|
|
|
|
|
|
|
|
|
At 1 August 2020
|
1,250
|
1,250
|
|
|
|
|
|
|
Charge for the year
|
299
|
299
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 July 2021
|
1,549
|
1,549
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
|
At 31 July 2021
|
-
|
-
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
At 31 July 2020
|
299
|
299
|
|
|
|
|
|
|
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 July 2021
At 31 July 2020
25.
Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Impairment
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carrying amount
|
|
|
|
|
|
|
|
At 31 July 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 July 2020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26.
Stocks
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
|
|
_______
|
_______
|
|
|
|
|
|
27.
Debtors
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Trade debtors
|
|
23
|
40
|
|
Other debtors
|
|
(
5,602)
|
-
|
|
|
|
_______
|
_______
|
|
|
|
(
5,579)
|
40
|
|
|
|
_______
|
_______
|
|
|
|
|
|
28.
Debtors
Debtors include amounts of £- (2020: £-) falling due after more than one year.
29.
Investments
30.
Cash and cash equivalents
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Cash at bank and in hand
|
|
7,132
|
46,406
|
|
|
|
_______
|
_______
|
|
|
|
|
|
31.
Creditors: amounts falling due within one year
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Bank loans and overdrafts
|
|
48,025
|
50,000
|
|
Trade creditors
|
|
(
15,211)
|
(
21,380)
|
|
Corporation tax
|
|
397
|
1,840
|
|
Social security and other taxes
|
|
-
|
7,949
|
|
Director loan accounts
|
|
-
|
1
|
|
Other creditors
|
|
(
17,297)
|
(
11,210)
|
|
|
|
_______
|
_______
|
|
|
|
15,914
|
27,200
|
|
|
|
_______
|
_______
|
|
|
|
|
|
32.
Creditors: amounts falling due after more than one year
33.
Obligations under finance leases
34.
Provisions
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 August 2020 and 31 July 2021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
The deferred tax account consists of the tax effect of timing differences in respect of:
|
|
|
|
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
|
|
|
|
36.
Employee benefits
The amount recognised in profit or loss in relation to defined contribution plans was £
2,637
(2020: £
2,270
).
37.
Share-based payments
38.
Government grants
The amounts recognised in the unaudited financial statements for government grants are as follows:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
Recognised in other operating income:
|
|
|
|
|
Government grants recognised directly in income
|
|
47,453
|
27,349
|
|
|
|
_______
|
_______
|
|
|
|
|
|
39.
Financial instruments
40.
Financial instruments at fair value
41.
Prior period errors
42.
Analysis of other comprehensive income
43.
Called up share capital
44.
Reserves
45.
Fair value reserve
Included within other reserves is the fair value reserve as follows:
|
|
|
2021
|
2020
|
|
|
|
£
|
£
|
|
At start of year
|
|
-
|
-
|
|
|
|
_______
|
_______
|
|
At end of year
|
|
-
|
-
|
|
|
|
_______
|
_______
|
|
|
|
|
|
46.
Cash generated from operations
|
|
|
|
£ |
£ |
|
|
Cash flows from operating activities |
(Loss)/profit for the financial year |
(
33,907) |
2,299
|
|
|
Adjustments for: |
Depreciation of tangible assets |
300
|
774
|
Government grant income |
(
47,453) |
(
27,349) |
Tax on loss/profit |
(
721) |
721
|
|
|
|
|
|
Changes in: |
Trade and other receivables |
5,619
|
8,333
|
Trade and other payables |
(
7,867) |
(
22,007) |
|
_______ |
_______ |
Cash generated from operations |
(
84,029) |
(
37,229) |
|
_______ |
_______ |
|
|
|
47.
Non-cash transactions
48.
Exceptional cash flows
49.
Analysis of changes in net debt
|
|
At 1 August 2020
|
Cash flows
|
At 31 July 2021
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
Cash and cash equivalents
|
46,406
|
(39,274)
|
7,132
|
|
|
|
|
Debt due within one year
|
(50,001)
|
1,976
|
(48,025)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
(
3,595)
|
(
37,298)
|
(
40,893)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
50.
Business combinations
53.
Disposals
54.
Operating leases
55.
Charge on assets
56.
Events after the end of the reporting period
57.
Limitation of auditors liability
58.
Related party transactions
59.
Key management personnel