COMPANY REGISTRATION NUMBER:
12929482
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 2022
Balance sheet
1
Notes to the financial statements
2 to 5
31 December 2022
Fixed assets
Current assets
|
Stocks |
6 |
1,780 |
1,780 |
|
Debtors |
7 |
33,267 |
32,714 |
|
Cash at bank and in hand |
25,186 |
22,030 |
|
------------ |
------------ |
|
60,233 |
56,524 |
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
(
59,862) |
(
55,694) |
|
------------ |
------------ |
|
Net current assets |
371 |
830 |
|
------------ |
------------ |
|
Total assets less current liabilities |
774 |
830 |
|
------------ |
------------ |
|
Net assets |
774 |
830 |
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
9 |
100 |
100 |
|
Profit and loss account |
674 |
730 |
|
------------ |
------------ |
|
Shareholders funds |
774 |
830 |
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
2 September 2023
, and are signed on behalf of the board by:
Company registration number:
12929482
|
NOTES TO THE FINANCIAL STATEMENTS |
|
YEAR ENDED 31 DECEMBER 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Computer Equipment |
- |
33% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2021:
2
).
5.
Tangible assets
|
Computer Equipment |
|
£ |
|
Cost |
|
|
At 1 January 2022 |
– |
|
Additions |
601 |
|
------------ |
|
At 31 December 2022 |
601 |
|
------------ |
|
Depreciation |
|
|
At 1 January 2022 |
– |
|
Charge for the year |
198 |
|
------------ |
|
At 31 December 2022 |
198 |
|
------------ |
|
Carrying amount |
|
|
At 31 December 2022 |
403 |
|
------------ |
|
At 31 December 2021 |
– |
|
------------ |
|
|
6.
Stocks
|
2022 |
2021 |
|
£ |
£ |
|
Raw materials and consumables |
1,780 |
1,780 |
|
------------ |
------------ |
|
|
|
7.
Debtors
|
2022 |
2021 |
|
£ |
£ |
|
Trade debtors |
31,124 |
23,252 |
|
Prepayments and accrued income |
1,143 |
5,078 |
|
Directors loan account |
– |
4,384 |
|
Other debtors |
1,000 |
– |
|
------------ |
------------ |
|
33,267 |
32,714 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2022 |
2021 |
|
£ |
£ |
|
Trade creditors |
18,750 |
19,824 |
|
Accruals and deferred income |
2,500 |
2,500 |
|
Corporation tax |
4,615 |
2,780 |
|
Social security and other taxes |
33,630 |
29,999 |
|
Director loan accounts |
11 |
– |
|
Other creditors |
356 |
591 |
|
------------ |
------------ |
|
59,862 |
55,694 |
|
------------ |
------------ |
|
|
|
9.
Called up share capital
Issued, called up and fully paid
|
2022 |
2021 |
|
No. |
£ |
No. |
£ |
|
Ordinary A shares of £ 1 each |
50 |
50 |
50 |
50 |
|
Ordinary B shares of £ 1 each |
50 |
50 |
50 |
50 |
|
------------ |
------------ |
------------ |
------------ |
|
100 |
100 |
100 |
100 |
|
------------ |
------------ |
------------ |
------------ |
|
|
|
|
|
10.
Directors' advances, credits and guarantees
The directors' loan accounts of £11 (2021: £4,384 debtor) set out at creditors above are unsecured, repayable on demand and currently interest free.
11.
Related party transactions
Control of the company There is no one controlling party of the company.