Austgo Ltd
Registered number: 13287083
Statement of Financial Position
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 298 9,450
Cash at bank and in hand 87,870 41,942
88,168 51,392
Creditors: amounts falling due within one year 4 (35,633) (43,574)
Net current assets 52,535 7,818
Net assets 52,535 7,818
Capital and reserves
Called up share capital 1 1
Profit and loss account 52,534 7,817
Shareholder's funds 52,535 7,818
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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 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.
Hayley Curry
Director
Approved by the board on 16 August 2023
Austgo Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
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 rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction 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. 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 and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees and directors 2023 2022
Number Number
Average number of directors and persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors - 9,450
Other debtors 298 -
298 9,450
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 736 -
Accruals 1,209 1,779
Corporation tax 31,065 19,074
Other taxes and social security costs - 22,410
Other creditors 2,623 311
35,633 43,574
5 Other information
Austgo Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20-22 Wenlock Road
London
N1 7GU
Austgo Ltd 13287083 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 Hayley Curry No description of principal activity 13287083 2021-04-01 2022-03-31 13287083 core:WithinOneYear 2022-03-31 13287083 core:ShareCapital 2022-03-31 13287083 core:RetainedEarningsAccumulatedLosses 2022-03-31 13287083 2022-04-01 2023-03-31 13287083 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13287083 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13287083 bus:Director40 2022-04-01 2023-03-31 13287083 1 2022-04-01 2023-03-31 13287083 2 2022-04-01 2023-03-31 13287083 countries:England 2022-04-01 2023-03-31 13287083 bus:FRS102 2022-04-01 2023-03-31 13287083 bus:FullAccounts 2022-04-01 2023-03-31 13287083 2023-03-31 13287083 core:WithinOneYear 2023-03-31 13287083 core:ShareCapital 2023-03-31 13287083 core:RetainedEarningsAccumulatedLosses 2023-03-31 13287083 2022-03-31 iso4217:GBP xbrli:pure