COMPANY REGISTRATION NUMBER:
13480259
Filleted Unaudited Financial Statements
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Statement of Financial Position
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|
30 June 2022
Fixed assets
Current assets
Cash at bank and in hand
|
3,466
|
|
|
|
|
Creditors: amounts falling due within one year
|
4
|
276,861
|
|
|
--------
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|
Net current liabilities
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|
273,395
|
|
|
--------
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Total assets less current liabilities
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|
(
3,953)
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|
|
------
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|
|
|
|
Capital and reserves
Called up share capital
|
5
|
|
100
|
Profit and loss account
|
|
(
4,053)
|
|
|
------
|
Shareholders deficit
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|
(
3,953)
|
|
|
------
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|
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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 period ending 30 June 2022 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 financial statements for the period in question in accordance with section 476
;
-
The director acknowledges her 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
27 March 2023
, and are signed on behalf of the board by:
Company registration number:
13480259
Notes to the Financial Statements
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Period from 28 June 2021 to 30 June 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales with company number
13480259
. The address of the registered office is 5 Deansway, Worcester, WR1 2JG, United Kingdom.
2.
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
The continuation of the company's affairs are dependent upon the support of the directors. These accounts have been prepared on a going concern basis which assumes their continued support for the foreseeable future.
Judgements and key sources of estimation uncertainty
In preparing these financial statements the directors have had to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. Estimates and associated assumptions are based on historic experience and various other factors including expectations of future events that are believed to be reasonable under the circumstances, however actual results may differ from these estimates. For this reporting date there are no significant judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
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.
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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.
Financial instruments
The company only has basic financial instruments. - Financial assets Financial assets comprise items such as cash at bank and in hand and trade and other debtors. These are initially recorded at cost on the date they originate, the company considers evidence of impairment for all individual elements comprising financial assets and any subsequent impairment is recognised in profit and loss. - Financial liabilities Financial liabilities comprise items such as corporation and other taxes, bank and other loans, accruals and trade and other creditors. These are initially recorded at cost on the date they originate, net of transaction costs where applicable, the company considers evidence of impairment for all individual elements comprising financial liabilities and any subsequent impairment is recognised in profit and loss.
3.
Investments
|
Other investments other than loans
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|
£
|
Cost
|
|
At 28 June 2021
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–
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Additions
|
269,442
|
|
--------
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At 30 June 2022
|
269,442
|
|
--------
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Impairment
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|
At 28 June 2021 and 30 June 2022
|
–
|
|
--------
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Carrying amount
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|
At 30 June 2022
|
269,442
|
|
--------
|
|
|
4.
Creditors:
amounts falling due within one year
|
30 Jun 22
|
|
£
|
Other creditors
|
276,861
|
|
--------
|
|
|
5.
Called up share capital
Issued, called up and fully paid
|
30 Jun 22
|
|
No.
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£
|
Ordinary shares of £ 1 each
|
100
|
100
|
|
----
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6.
Director's advances, credits and guarantees
At the reporting date the directors loan account was in credit by £275,607. There is no fixed term for repayment and no interest is charged.