false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
false
No description of principal activity
2017-02-01
Sage Accounts Production Advanced 2018 - FRS
47,008
2,916
49,924
42,565
1,840
44,405
5,519
4,443
xbrli:pure
xbrli:shares
iso4217:GBP
04933623
2017-02-01
2018-01-31
04933623
2018-01-31
04933623
2017-01-31
04933623
2016-02-01
2017-01-31
04933623
2017-01-31
04933623
core:NetGoodwill
2017-02-01
2018-01-31
04933623
core:PlantMachinery
2017-02-01
2018-01-31
04933623
bus:Director1
2017-02-01
2018-01-31
04933623
core:NetGoodwill
2018-01-31
04933623
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2018-01-31
04933623
core:PlantMachinery
2017-01-31
04933623
core:PlantMachinery
2018-01-31
04933623
core:WithinOneYear
2018-01-31
04933623
core:WithinOneYear
2017-01-31
04933623
core:ShareCapital
2018-01-31
04933623
core:ShareCapital
2017-01-31
04933623
core:RetainedEarningsAccumulatedLosses
2018-01-31
04933623
core:RetainedEarningsAccumulatedLosses
2017-01-31
04933623
core:DevelopmentCostsCapitalisedDevelopmentExpenditure
2017-01-31
04933623
core:PlantMachinery
2017-01-31
04933623
bus:SmallEntities
2017-02-01
2018-01-31
04933623
bus:AuditExemptWithAccountantsReport
2017-02-01
2018-01-31
04933623
bus:FullAccounts
2017-02-01
2018-01-31
04933623
bus:SmallCompaniesRegimeForAccounts
2017-02-01
2018-01-31
04933623
bus:PrivateLimitedCompanyLtd
2017-02-01
2018-01-31
COMPANY REGISTRATION NUMBER:
04933623
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
STATEMENT OF FINANCIAL POSITION |
|
31 January 2018
Fixed assets
Intangible assets |
5 |
|
31,593 |
|
31,593 |
Tangible assets |
6 |
|
5,519 |
|
4,443 |
|
|
--------- |
|
--------- |
|
|
37,112 |
|
36,036 |
|
|
|
|
|
|
Current assets
Stocks |
1,296 |
|
1,391 |
|
Debtors |
7 |
146 |
|
967 |
|
Cash at bank and in hand |
2,411 |
|
11,096 |
|
|
-------- |
|
--------- |
|
|
3,853 |
|
13,454 |
|
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
35,777 |
|
39,618 |
|
|
--------- |
|
--------- |
|
Net current liabilities |
|
31,924 |
|
26,164 |
|
|
--------- |
|
--------- |
Total assets less current liabilities |
|
5,188 |
|
9,872 |
|
|
-------- |
|
-------- |
|
|
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
|
100 |
Profit and loss account |
|
5,088 |
|
9,772 |
|
|
-------- |
|
-------- |
Shareholders funds |
|
5,188 |
|
9,872 |
|
|
-------- |
|
-------- |
|
|
|
|
|
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 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 31 January 2018 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 year 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
.
STATEMENT OF FINANCIAL POSITION (continued) |
|
31 January 2018
These financial statements were approved by the
board of directors
and authorised for issue on
21 August 2018
, and are signed on behalf of the board by:
Company registration number:
04933623
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 JANUARY 2018
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 3 Lakeland Business Park, Cockermouth, Cumbria, CA13 0QT.
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.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Corporation 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are recorded at the fair value at the acquisition date.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
|
Goodwill |
- |
20% straight line |
|
|
|
|
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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 equipment |
- |
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.
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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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 as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
12
(2017:
10
).
5.
Intangible assets
|
Goodwill |
Lease |
Total |
|
£ |
£ |
£ |
Cost |
|
|
|
At 1 February 2017 and 31 January 2018 |
5,000 |
31,593 |
36,593 |
|
-------- |
--------- |
--------- |
Amortisation |
|
|
|
At 1 February 2017 and 31 January 2018 |
5,000 |
– |
5,000 |
|
-------- |
--------- |
--------- |
Carrying amount |
|
|
|
At 31 January 2018 |
– |
31,593 |
31,593 |
|
-------- |
--------- |
--------- |
At 31 January 2017 |
– |
31,593 |
31,593 |
|
-------- |
--------- |
--------- |
|
|
|
|
6.
Tangible assets
|
Plant and machinery |
Total |
|
£ |
£ |
Cost |
|
|
At 1 February 2017 |
47,008 |
47,008 |
Additions |
2,916 |
2,916 |
|
--------- |
--------- |
At 31 January 2018 |
49,924 |
49,924 |
|
--------- |
--------- |
Depreciation |
|
|
At 1 February 2017 |
42,565 |
42,565 |
Charge for the year |
1,840 |
1,840 |
|
--------- |
--------- |
At 31 January 2018 |
44,405 |
44,405 |
|
--------- |
--------- |
Carrying amount |
|
|
At 31 January 2018 |
5,519 |
5,519 |
|
--------- |
--------- |
At 31 January 2017 |
4,443 |
4,443 |
|
--------- |
--------- |
|
|
|
7.
Debtors
|
2018 |
2017 |
|
£ |
£ |
Other debtors |
146 |
967 |
|
----- |
----- |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2018 |
2017 |
|
£ |
£ |
Trade creditors |
3,082 |
1,535 |
Social security and other taxes |
2,782 |
7,011 |
Other creditors |
29,913 |
31,072 |
|
--------- |
--------- |
|
35,777 |
39,618 |
|
--------- |
--------- |
|
|
|