Registered number
SC683101
We Are Amused Ltd
Filleted Accounts
31 December 2021
We Are Amused Ltd
Registered number: SC683101
Balance Sheet
as at 31 December 2021
Notes 2021
£
Fixed assets
Tangible assets 3 14,807
Current assets
Stocks 15,238
Cash at bank and in hand 858
16,096
Creditors: amounts falling due within one year 4 5,355
Net current assets/(liabilities) 21,451
Total assets less current liabilities 36,258
Creditors: amounts falling due after more than one year 5 (31,547)
Net assets/(liabilities) 4,711
Capital and reserves
Profit and loss account 4,711
Shareholders' funds 4,711
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
L Stephenson
Director
Approved by the board on 5 September 2022
We Are Amused Ltd
Notes to the Accounts
for the period from 8 December 2020 to 31 December 2021
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset over its expected useful life, as follows:
Plant and machinery 20% by Reducing Balance
Fixtures, fittings, tools and equipment 20% by Reducing Balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current period.
2 Employees 2021
Number
Average number of persons employed by the company 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 17,528
At 31 December 2021 17,528
Depreciation
Charge for the period 2,721
At 31 December 2021 2,721
Net book value
At 31 December 2021 14,807
4 Creditors: amounts falling due within one year 2021
£
Bank loans and overdrafts 286
Taxation and social security costs (6,480)
Other creditors 839
(5,355)
5 Creditors: amounts falling due after one year 2021
£
Director's account 31,547
6 Other information
We Are Amused Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
12 Birch Avenue
Kinghorn
Fife
KY3 9YN
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