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Registration number: 12175840

1 Stop Instruction Equipment Hire Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

1 Stop Instruction Equipment Hire Ltd

Contents

Directors' Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

1 Stop Instruction Equipment Hire Ltd

Directors' Report for the Year Ended 31 March 2022

The directors present their report and the financial statements for the year ended 31 March 2022.

Director of the company

The directors who held office during the year were as follows:

C Johal

P Johal

Principal activity

The principal activity of the company is the provision of equipment hire services.

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 and authorised by the Board on 18 August 2022 and signed on its behalf by:
 

.........................................
P Johal
Director

 

1 Stop Instruction Equipment Hire Ltd

(Registration number: 12175840)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Current assets

 

Debtors

270

-

Cash at bank and in hand

 

126,035

87,264

 

126,305

87,264

Creditors: Amounts falling due within one year

4

(12,540)

(13,098)

Net assets

 

113,765

74,166

Capital and reserves

 

Called up share capital

5

2

2

Profit and loss account

113,763

74,164

Shareholders' funds

 

113,765

74,166

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.

Directors' 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 directors acknowledge their 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 Board on 18 August 2022 and signed on its behalf by:
 

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

.........................................
P Johal
Director

 

1 Stop Instruction Equipment Hire 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 Board 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 also the company's functional currency. Monetary amounts in this financial statements are rounded to the nearest (£).

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 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.

 

1 Stop Instruction Equipment Hire Ltd

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

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.

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.

3

Staff numbers

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

 

1 Stop Instruction Equipment Hire Ltd

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

4

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

9,839

10,278

Other creditors

1,501

1,500

Accruals and deferred income

1,200

1,320

12,540

13,098

5

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

2

2

2

2

         

6

Related party transactions

At the year end date, included within other creditors is an amount of £1,500 (2021 - £1,500) owed to a connected company in which the directors have a beneficial interest. The loan is provided interest free. There is no formal terms and conditions regarding the repayment of the loan.


At the year end date, included within other creditors is an amount of £270 (2021- £NIL) owed from a connected company in which the director have a beneficial interest. The loan is provided interest free. There is no formal terms and condition regarding the repayment of the loan.