Company Registration No. 13072850 (England and Wales)
Are You In Limited
Unaudited accounts
for the year ended 31 December 2022
Are You In Limited
Unaudited accounts
Contents
Are You In Limited
Company Information
for the year ended 31 December 2022
Directors
Mr A Zahid
Mr A Al Darubi
Company Number
13072850 (England and Wales)
Registered Office
27 Old Gloucester Street
London
WC1N 3AX
England
Are You In Limited
Statement of financial position
as at 31 December 2022
Intangible assets
308,654
281,989
Cash at bank and in hand
5
3,484
Creditors: amounts falling due within one year
(390,839)
(397,501)
Net current liabilities
(385,952)
(391,812)
Net liabilities
(77,298)
(109,823)
Called up share capital
100
100
Profit and loss account
(77,398)
(109,923)
Shareholders' funds
(77,298)
(109,823)
For the year ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2023 and were signed on its behalf by
Mr A Zahid
Director
Company Registration No. 13072850
Are You In Limited
Notes to the Accounts
for the year ended 31 December 2022
Are You In Limited is a private company, limited by shares, registered in England and Wales, registration number 13072850. The registered office is 27 Old Gloucester Street, London, WC1N 3AX, England.
2
Compliance with accounting standards
These accounts have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
These financial statements for the year ended 31 December 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 9 December 2020
The accounts are presented in £ sterling.
The financial statements are prepared in £ sterling, which is the functional currency of the company. Monetary amounts in these accounts are rounded to the nearest £.
The accounts have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The accounts have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Basic financial assets, which include trade debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors, bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Are You In Limited
Notes to the Accounts
for the year ended 31 December 2022
The tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
4
Intangible fixed assets
Other
At 31 December 2022
308,654
At 31 December 2022
308,654
At 31 December 2021
281,989
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2022
2021
Trade creditors
10,955
108
Other creditors
378,639
397,348
7
Average number of employees
During the year the average number of employees was 0 (2021: 1).
Are You In Limited
Notes to the Accounts
for the year ended 31 December 2022
8
Reconciliations on adoption of FRS 102
The financial statements for the year ended 31 December 2022 are the first financial statements of Are You In Limited prepared in accordance with FRS102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS102 was 9 December 2020. The reported financial position and financial performance for the previous period are not affected by this transition to FRS102.