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Registration number: 12175947

1 Stop Instruction Scooter Hire Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2022

 

1 Stop Instruction Scooter Hire Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

1 Stop Instruction Scooter Hire Ltd

(Registration number: 12175947)
Balance Sheet as at 31 March 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

20,865

-

Current assets

 

Debtors

5

-

3,660

Cash at bank and in hand

 

81,723

68,652

 

81,723

72,312

Creditors: Amounts falling due within one year

6

(19,469)

(18,941)

Net current assets

 

62,254

53,371

Net assets

 

83,119

53,371

Capital and reserves

 

Called up share capital

7

2

2

Profit and loss account

83,117

53,369

Shareholders' funds

 

83,119

53,371

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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

 

1 Stop Instruction Scooter Hire Ltd

(Registration number: 12175947)
Balance Sheet as at 31 March 2022

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

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

 

1 Stop Instruction Scooter 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 also the company's functional currency. Monetary amounts in these financial statement 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.

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 Scooter Hire Ltd

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

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 % reducing balance

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

1 Stop Instruction Scooter Hire Ltd

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

4

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

Additions

27,820

27,820

At 31 March 2022

27,820

27,820

Depreciation

Charge for the year

6,955

6,955

At 31 March 2022

6,955

6,955

Carrying amount

At 31 March 2022

20,865

20,865

5

Debtors

2022
£

2021
£

Other debtors

-

3,660

-

3,660

6

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Taxation and social security

2,634

8,371

Other creditors

15,635

9,250

Accruals and deferred income

1,200

1,320

19,469

18,941

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         
 

1 Stop Instruction Scooter Hire Ltd

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

8

Related party transactions

At the year end date, included within other creditors is an amount of £11,635 (2021 - £5,250) owed to connected companies in which the directors have a beneficial interest. The loans are provided interest free. There is no formal terms and conditions regarding the repayment of the loans.

Included within other debtors is an amount of £NIL (2021 - £3,660) owed by 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.