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Registration number: 09879556

Szymanski44 Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2021

 

Szymanski44 Ltd

Contents

Company Information

1

Director's Report

2

Statement of Director's Responsibilities

3

Balance Sheet

4 to 5

Notes to the Unaudited Financial Statements

6 to 11

 

Szymanski44 Ltd

Company Information

Director

Mr Piotr Szymanski

Registered office

2 Mortlake Close
Worsley
Manchester
M28 0LH

Accountants

KNBC Accounting Ltd
Third Floor
12 Groveland Court
London
EC4M 9EH

 

Szymanski44 Ltd

Director's Report for the Year Ended 30 November 2021

The director presents his report and the financial statements for the year ended 30 November 2021.

Director of the company

The director who held office during the year was as follows:

Mr Piotr Szymanski

Principal activity

The principal activity of the company is transportation.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the director on 15 August 2022 and signed on its behalf by:

.........................................
Mr Piotr Szymanski
Director

 

Szymanski44 Ltd

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Szymanski44 Ltd

(Registration number: 09879556)
Balance Sheet as at 30 November 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

4

747

-

Current assets

 

Debtors

5

8,798

4,087

Cash at bank and in hand

 

3,330

9,098

 

12,128

13,185

Creditors: Amounts falling due within one year

6

(5,525)

(3,032)

Net current assets

 

6,603

10,153

Total assets less current liabilities

 

7,350

10,153

Creditors: Amounts falling due after more than one year

6

(7,167)

(10,000)

Net assets

 

183

153

Capital and reserves

 

Called up share capital

7

100

100

Profit and loss account

83

53

Shareholders' funds

 

183

153

For the financial year ending 30 November 2021 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 15 August 2022
 

 

Szymanski44 Ltd

(Registration number: 09879556)
Balance Sheet as at 30 November 2021

.........................................

Mr Piotr Szymanski
Director

 

Szymanski44 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
2 Mortlake Close
Worsley
Manchester
M28 0LH
United Kingdom

These financial statements were authorised for issue by the director on 15 August 2022.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Szymanski44 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office Equipment

33% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Szymanski44 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2020 - 1).

 

Szymanski44 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2020

1,030

1,030

At 30 November 2021

1,030

1,030

Depreciation

Charge for the year

283

283

At 30 November 2021

283

283

Carrying amount

At 30 November 2021

747

747

5

Debtors

2021
£

2020
£

Other debtors

8,798

4,087

8,798

4,087

6

Creditors

Creditors: amounts falling due within one year

Note

2021
£

2020
£

Due within one year

 

Loans and borrowings

8

2,000

-

Trade creditors

 

203

429

Taxation and social security

 

1,424

2,603

Other creditors

 

1,898

-

 

5,525

3,032

Creditors: amounts falling due after more than one year

 

Szymanski44 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

Note

2021
£

2020
£

Due after one year

 

Loans and borrowings

8

7,167

10,000

7

Share capital

Allotted, called up and fully paid shares

 

2021

2020

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

8

Loans and borrowings

2021
£

2020
£

Non-current loans and borrowings

Bank borrowings

7,167

10,000

2021
£

2020
£

Current loans and borrowings

Bank borrowings

2,000

-

 

Szymanski44 Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2021

9

Related party transactions

Transactions with directors

2021

At 1 December 2020
£

Advances to directors
£

Repayments by director
£

At 30 November 2021
£

Mr Piotr Szymanski

Directors Loan Account

4,086

8,798

(4,086)

8,798

         
       

 

The loan to director was £8,797.99. The repayment terms are in place and outstanding loan will be repaid before the due date.