COMPANY REGISTRATION NUMBER:
04076760
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 December 2021
Current assets
Stocks |
107,954 |
58,111 |
Debtors |
5 |
20,227 |
44,336 |
Cash at bank and in hand |
248,464 |
198,253 |
|
--------- |
--------- |
|
376,645 |
300,700 |
|
|
|
|
Creditors: amounts falling due within one year |
6 |
479,117 |
359,268 |
|
--------- |
--------- |
Net current liabilities |
102,472 |
58,568 |
|
--------- |
-------- |
Total assets less current liabilities |
(
102,472) |
(
58,568) |
|
--------- |
-------- |
Net liabilities |
(
102,472) |
(
58,568) |
|
--------- |
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
1 |
1 |
Profit and loss account |
(
102,473) |
(
58,569) |
|
--------- |
-------- |
Shareholders deficit |
(
102,472) |
(
58,568) |
|
--------- |
-------- |
|
|
|
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 December 2021 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
7 March 2022
, and are signed on behalf of the board by:
Company registration number:
04076760
Notes to the Financial Statements |
|
Year ended 31 December 2021
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 7B Mill Street East, Dewsbury, WF12 9AQ, United Kingdom.
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.
Going concern
At the time of publication of the financial statements there is uncertainty surrounding the impact of the Covid-19 pandemic. Whilst the directors anticipate some further short term disruption to the trade, they consider that the company has secured adequate finance to ensure that it can continue to trade for the foreseeable future.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
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
1
(2020:
1
).
5.
Debtors
|
2021 |
2020 |
|
£ |
£ |
Trade debtors |
17,227 |
37,904 |
Other debtors |
3,000 |
6,432 |
|
-------- |
-------- |
|
20,227 |
44,336 |
|
-------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2021 |
2020 |
|
£ |
£ |
Trade creditors |
1,309 |
60 |
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
462,333 |
332,823 |
Social security and other taxes |
13,499 |
21,115 |
Other creditors |
1,976 |
5,270 |
|
--------- |
--------- |
|
479,117 |
359,268 |
|
--------- |
--------- |
|
|
|
The amounts owed to group undertakings and undertakings in which the company has a participating interest are unsecured, interest free and repayable on demand.
7.
Related party transactions
The company is a wholly owned subsidiary member of its group and has taken advantage of the provisions of paragraph 1AC.35 of FRS 102 - Small Entities not to disclose transactions with entities that are wholly owned members of the group. There were no other related party transactions to disclose.
8.
Controlling party
The directors consider Emmaljunga Barnvagnsfabrik AB, a company incorporated in Sweden as the company's holding company. The most senior parent entity producing publicly available financial statements is CWWC Nordic AB. These financial statements are available on request from Box2056, Vittsjo, SE-28022. The ultimate controlling party is Mr C C Persson.