Registered number
08355250
Stalowa Magnolia Ltd
Filleted Accounts
31 January 2023
Stalowa Magnolia Ltd
Registered number: 08355250
Director's Report
The director presents his report and accounts for the year ended 31 January 2023.
Principal activities
The company's principal activity during the year continued to be that of Information Technology services.
Directors
The following persons served as directors during the year:
David Toomey
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 25 October 2023 and signed on its behalf.
David Toomey
Director
Stalowa Magnolia Ltd
Registered number: 08355250
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,998 3,998
Current assets
Debtors 4 15,462 5,400
Cash at bank and in hand 7,517 5,891
22,979 11,291
Creditors: amounts falling due within one year 5 (13,628) (1,720)
Net current assets 9,351 9,571
Net assets 12,349 13,569
Capital and reserves
Called up share capital 1 1
Profit and loss account 12,348 13,568
Shareholder's funds 12,349 13,569
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.
David Toomey
Director
Approved by the board on 25 October 2023
Stalowa Magnolia Ltd
Notes to the Accounts
for the year ended 31 January 2023
1 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).
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:
Motor Vehicles 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Equipment and fittings
£
Cost
At 1 February 2022 4,998
At 31 January 2023 4,998
Depreciation
At 1 February 2022 1,000
Charge for the year 1,000
At 31 January 2023 2,000
Net book value
At 31 January 2023 2,998
At 31 January 2022 3,998
4 Debtors 2023 2022
£ £
Trade debtors 14,526 5,400
Other debtors 936 -
15,462 5,400
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 13,581 1,720
Other creditors 47 -
13,628 1,720
6 Other information
Stalowa Magnolia Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5a Church Road South
Woolton Village
Liverpool
L25 7RJ
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