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No description of principal activity
2019-12-01
Sage Accounts Production Advanced 2020 - FRS102_2019
2,206
551
414
965
1,241
1,655
xbrli:pure
xbrli:shares
iso4217:GBP
10345707
2019-12-01
2020-11-30
10345707
2020-11-30
10345707
2019-11-30
10345707
2019-11-30
10345707
core:PlantMachinery
2019-12-01
2020-11-30
10345707
bus:Director1
2019-12-01
2020-11-30
10345707
bus:Director2
2019-12-01
2020-11-30
10345707
core:PlantMachinery
2019-11-30
10345707
core:PlantMachinery
2020-11-30
10345707
core:WithinOneYear
2020-11-30
10345707
core:WithinOneYear
2019-11-30
10345707
core:RetainedEarningsAccumulatedLosses
2020-11-30
10345707
core:RetainedEarningsAccumulatedLosses
2019-11-30
10345707
core:PlantMachinery
2019-11-30
10345707
bus:SmallEntities
2019-12-01
2020-11-30
10345707
bus:AuditExemptWithAccountantsReport
2019-12-01
2020-11-30
10345707
bus:FullAccounts
2019-12-01
2020-11-30
10345707
bus:SmallCompaniesRegimeForAccounts
2019-12-01
2020-11-30
10345707
bus:PrivateLimitedCompanyLtd
2019-12-01
2020-11-30
COMPANY REGISTRATION NUMBER:
10345707
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
30 November 2020
Fixed assets
Tangible assets
|
4
|
1,241
|
1,655
|
|
|
|
|
Current assets
Stocks
|
2,270
|
13,816
|
Debtors
|
5
|
5,694
|
1,833
|
Cash at bank and in hand
|
27,387
|
43,618
|
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
|
35,351
|
59,267
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
4,191
|
42,601
|
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
Net current assets
|
31,160
|
16,666
|
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
Total assets less current liabilities
|
32,401
|
18,321
|
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
Net assets
|
32,401
|
18,321
|
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
|
|
|
|
Capital and reserves
Profit and loss account
|
32,401
|
18,321
|
|
ÄÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
Shareholders funds
|
32,401
|
18,321
|
|
ÍÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
|
|
|
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 statement of comprehensive income has not been delivered.
For the year ending 30 November 2020 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
31 August 2021
, and are signed on behalf of the board by:
Mr K Barrow
|
Mr A Dyer
|
Director
|
Director
|
|
|
Company registration number:
10345707
Notes to the Financial Statements
|
|
Year ended 30 November 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14-16 Churchill Way, Cardiff, CF10 2DX, United Kingdom.The principal activity of the company during the year was agricultural activities.
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.
Cash & cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. A provision for the stock valuation has been provided by the directors.
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.
Taxation
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.
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:
|
Plant and machinery
|
-
|
25% reducing balance
|
|
|
|
|
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.
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. Debt instruments are subsequently measured at amortised cost. 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. 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.
4.
Tangible assets
|
Plant and machinery
|
|
£
|
Cost
|
|
At 1 December 2019 and 30 November 2020
|
2,206
|
|
ÍÍÍÍÍÍÍ
|
Depreciation
|
|
At 1 December 2019
|
551
|
Charge for the year
|
414
|
|
ÄÄÄÄÄÄÄ
|
At 30 November 2020
|
965
|
|
ÍÍÍÍÍÍÍ
|
Carrying amount
|
|
At 30 November 2020
|
1,241
|
|
ÍÍÍÍÍÍÍ
|
At 30 November 2019
|
1,655
|
|
ÍÍÍÍÍÍÍ
|
|
|
5.
Debtors
|
2020
|
2019
|
|
£
|
£
|
Trade debtors
|
4,000
|
–
|
Other debtors
|
1,694
|
1,833
|
|
ÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄ
|
|
5,694
|
1,833
|
|
ÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍ
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
2020
|
2019
|
|
£
|
£
|
Social security and other taxes
|
3,401
|
2,055
|
Other creditors
|
790
|
40,546
|
|
ÄÄÄÄÄÄÄ
|
ÄÄÄÄÄÄÄÄ
|
|
4,191
|
42,601
|
|
ÍÍÍÍÍÍÍ
|
ÍÍÍÍÍÍÍÍ
|
|
|
|
7.
Related party transactions
There were no transactions with related parties such as are required to be disclosed under FRS102 Section 1AC.35.