Registered number
09532933
Somstar Marketing
Filleted Accounts
30 April 2022
Somstar Marketing
Registered number: 09532933
Balance Sheet
as at 30 April 2022
Notes 2022 2021
£ £
Fixed assets
Tangible assets 3 2,896 3,620
Current assets
Cash at bank and in hand 1,108 21,243
Creditors: amounts falling due within one year 4 (1,314) (8,019)
Net current (liabilities)/assets (206) 13,224
Total assets less current liabilities 2,690 16,844
Creditors: amounts falling due after more than one year 5 (45,000) (45,000)
Net liabilities (42,310) (28,156)
Capital and reserves
Called up share capital 100 100
Profit and loss account (42,410) (28,256)
Shareholder's funds (42,310) (28,156)
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 his 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 and delivered 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.
Mohamed I Abdullahi
Director
Approved by the board on 31 January 2023
Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
1 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice 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 (which is usually the invoice 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.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2021 70 5,656 5,726
At 30 April 2022 70 5,656 5,726
Depreciation
At 1 May 2021 70 2,036 2,106
Charge for the year - 724 724
At 30 April 2022 70 2,760 2,830
Net book value
At 30 April 2022 - 2,896 2,896
At 30 April 2021 - 3,620 3,620
4 Creditors: amounts falling due within one year 2022 2021
£ £
Taxation and social security costs 1,314 168
Other creditors - 7,851
1,314 8,019
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 45,000 45,000
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