COMPANY REGISTRATION NUMBER:
03326267
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
31 March 2022
Fixed assets
Intangible assets
|
4
|
2,178
|
2,178
|
|
|
|
|
Current assets
Debtors
|
5
|
914,592
|
915,675
|
Investments
|
6
|
4
|
4
|
|
---------
|
---------
|
|
914,596
|
915,679
|
|
|
|
|
Creditors: amounts falling due within one year
|
7
|
950
|
780
|
|
---------
|
---------
|
Net current assets
|
913,646
|
914,899
|
|
---------
|
---------
|
Total assets less current liabilities
|
915,824
|
917,077
|
|
---------
|
---------
|
Net assets
|
915,824
|
917,077
|
|
---------
|
---------
|
|
|
|
|
Capital and reserves
Called up share capital
|
120
|
120
|
Profit and loss account
|
915,704
|
916,957
|
|
---------
|
---------
|
Shareholders funds
|
915,824
|
917,077
|
|
---------
|
---------
|
|
|
|
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 income and retained earnings has not been delivered.
For the year ending 31 March 2022 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
.
Statement of Financial Position (continued)
|
|
31 March 2022
These financial statements were approved by the
board of directors
and authorised for issue on
26 September 2022
, and are signed on behalf of the board by:
Company registration number:
03326267
Notes to the Financial Statements
|
|
Year ended 31 March 2022
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 6 Baufort Trading Park, Pucklechurch Trading Est., Pucklechurch, Bristol, South Gloucestershire, BS16 9QH.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Intangible assets
Intangible fixed assets are included at cost.
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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity
.
4.
Intangible assets
|
Development costs
|
|
£
|
Cost
|
|
At 1 April 2021 and 31 March 2022
|
2,178
|
|
---------
|
Amortisation
|
|
At 1 April 2021 and 31 March 2022
|
–
|
|
---------
|
Carrying amount
|
|
At 31 March 2022
|
2,178
|
|
---------
|
At 31 March 2021
|
2,178
|
|
---------
|
|
|
5.
Debtors
|
2022
|
2021
|
|
£
|
£
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest
|
914,545
|
915,675
|
Other debtors
|
47
|
–
|
|
---------
|
---------
|
|
914,592
|
915,675
|
|
---------
|
---------
|
|
|
|
6.
Investments
|
2022
|
2021
|
|
£
|
£
|
Investments in group undertakings
|
4
|
4
|
|
---------
|
---------
|
|
|
|
7.
Creditors:
amounts falling due within one year
|
2022
|
2021
|
|
£
|
£
|
Corporation tax
|
–
|
180
|
Other creditors
|
950
|
600
|
|
---------
|
---------
|
|
950
|
780
|
|
---------
|
---------
|
|
|
|
8.
Related party transactions
The company was under the control of the directors throughout the current and previous year.