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Registration number: 08309992

1 Stop Instruction (North London) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

1 Stop Instruction (North London) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

1 Stop Instruction (North London) Ltd

(Registration number: 08309992)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

3,029

-

Current assets

 

Debtors

5

-

281

Cash at bank and in hand

 

70,207

14,000

 

70,207

14,281

Creditors: Amounts falling due within one year

6

(54,711)

(17,782)

Net current assets/(liabilities)

 

15,496

(3,501)

Net assets/(liabilities)

 

18,525

(3,501)

Capital and reserves

 

Called up share capital

7

1

1

Profit and loss account

18,524

(3,502)

Shareholders' funds/(deficit)

 

18,525

(3,501)

For the financial year ending 31 March 2022 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.

Approved and authorised by the director on 18 August 2022
 

.........................................
C Johal
Director

 

1 Stop Instruction (North London) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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:
18 Regent Gardens
Seven Kings
Ilford
Essex
IG3 8UL
England

These financial statements were authorised for issue by the director on 18 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.

The financial statements are presented in sterling, which is the functional currency of the company. Monetary accounts in financial statements are rounded to the nearest Pound (£).

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.

 

1 Stop Instruction (North London) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

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 corporation 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.

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

Motor vehicle

25% 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 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.

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.

 

1 Stop Instruction (North London) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2021 - 2).

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2021

11,601

11,601

Additions

4,039

4,039

At 31 March 2022

15,640

15,640

Depreciation

At 1 April 2021

11,601

11,601

Charge for the year

1,010

1,010

At 31 March 2022

12,611

12,611

Carrying amount

At 31 March 2022

3,029

3,029

 

1 Stop Instruction (North London) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2022

5

Debtors

2022
£

2021
£

Other debtors

-

281

-

281

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

8,361

514

Other creditors

45,350

15,948

Accruals and deferred income

1,000

1,320

54,711

17,782

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

1

1

1

1

         

8

Related party transactions

At the balance sheet date, included within other creditors is an amount of £40 (2021 - £40) owed to the company's director. The loan is provided interest free. There is no formal terms and conditions regarding repayment of the loan.

At the balance sheet date, included within other creditors is an amount of £45,309 (2021 - £15,909) owed to connected companies in which the director has a beneficial interest. The loans are interest free, unsecured and repayable on demand.