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REGISTERED NUMBER: 05704475 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

MICROTRENDS LIMITED

MICROTRENDS LIMITED (REGISTERED NUMBER: 05704475)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MICROTRENDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTOR: T H M Leeson





REGISTERED OFFICE: 30 - 34 North Street
Hailsham
East Sussex
BN27 1DW





REGISTERED NUMBER: 05704475 (England and Wales)





ACCOUNTANTS: Watson Associates (Professional Services) Limited
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

MICROTRENDS LIMITED (REGISTERED NUMBER: 05704475)

BALANCE SHEET
31 MARCH 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 16,200 16,200
Tangible assets 5 1,840 2,302
18,040 18,502

CURRENT ASSETS
Debtors 6 7,396 4,510
Cash at bank 2,049 1,709
9,445 6,219
CREDITORS
Amounts falling due within one year 7 (32,981 ) (26,975 )
NET CURRENT LIABILITIES (23,536 ) (20,756 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(5,496

)

(2,254

)

CAPITAL AND RESERVES
Called up share capital 8 2,000 2,000
Retained earnings (7,496 ) (4,254 )
SHAREHOLDERS' FUNDS (5,496 ) (2,254 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 August 2022 and were signed by:



T H M Leeson - Director


MICROTRENDS LIMITED (REGISTERED NUMBER: 05704475)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Microtrends Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


MICROTRENDS LIMITED (REGISTERED NUMBER: 05704475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - NIL).

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 April 2021
and 31 March 2022 16,200
NET BOOK VALUE
At 31 March 2022 16,200
At 31 March 2021 16,200

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2021
and 31 March 2022 14,313
DEPRECIATION
At 1 April 2021 12,011
Charge for year 462
At 31 March 2022 12,473
NET BOOK VALUE
At 31 March 2022 1,840
At 31 March 2021 2,302

MICROTRENDS LIMITED (REGISTERED NUMBER: 05704475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 6,416 2,743
Other debtors 400 400
Tax - 602
VAT 60 85
Prepayments 520 680
7,396 4,510

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 71 71
Directors' current accounts 32,780 26,904
Accrued expenses 130 -
32,981 26,975

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
2,000 Ordinary £1 2,000 2,000

9. ULTIMATE CONTROLLING PARTY

The controlling party is T H M Leeson.