5 28/02/2023 2023-02-28 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-09-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 07729994 2021-09-01 2023-02-28 07729994 2023-02-28 07729994 2020-09-01 2021-08-31 07729994 2021-08-31 07729994 core:FurnitureFittingsToolsEquipment 2021-09-01 2023-02-28 07729994 core:OnerousContractsExcludingVacantProperties 2021-09-01 2023-02-28 07729994 bus:RegisteredOffice 2021-09-01 2023-02-28 07729994 bus:LeadAgentIfApplicable 2021-09-01 2023-02-28 07729994 bus:Director1 2021-09-01 2023-02-28 07729994 bus:Director2 2021-09-01 2023-02-28 07729994 bus:CompanySecretary1 2021-09-01 2023-02-28 07729994 core:FurnitureFittingsToolsEquipment 2023-02-28 07729994 core:WithinOneYear 2023-02-28 07729994 core:WithinOneYear 2021-08-31 07729994 core:AfterOneYear 2023-02-28 07729994 core:AfterOneYear 2021-08-31 07729994 core:ShareCapital 2023-02-28 07729994 core:ShareCapital 2021-08-31 07729994 core:SharePremium 2023-02-28 07729994 core:SharePremium 2021-08-31 07729994 core:RetainedEarningsAccumulatedLosses 2023-02-28 07729994 core:RetainedEarningsAccumulatedLosses 2021-08-31 07729994 bus:Director1 2021-08-31 07729994 bus:Director1 2023-02-28 07729994 bus:Director1 2020-08-31 07729994 bus:Director1 2021-08-31 07729994 bus:Director1 2020-09-01 2021-08-31 07729994 bus:SmallEntities 2021-09-01 2023-02-28 07729994 bus:AuditExempt-NoAccountantsReport 2021-09-01 2023-02-28 07729994 bus:FullAccounts 2021-09-01 2023-02-28 07729994 bus:SmallCompaniesRegimeForAccounts 2021-09-01 2023-02-28 07729994 bus:PrivateLimitedCompanyLtd 2021-09-01 2023-02-28 07729994 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2021-09-01 2023-02-28 07729994 core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment 2023-02-28 07729994 1 2021-09-01 2023-02-28
Company registration number: 07729994
Mr Start Ltd
Unaudited filleted financial statements
28 February 2023
Mr Start Ltd
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Mr Start Ltd
Directors and other information
Directors Mr P Start
Ms L Salenger Smith
Secretary Mr P Start
Company number 07729994
Registered office Office FF10 Brooklands House
58 Marlborough Road
Lancing
West Sussex
BN15 8AF
Accountants Clarity Accounting Limited
FF10 Brooklands House
58 Marlborough Road
Lancing
West Sussex
BN15 8AF
Mr Start Ltd
Statement of financial position
28 February 2023
28/02/23 31/08/21
Note £ £ £ £
Current assets
Stocks 9,824 70,066
Debtors 6 8,197 7,182
Cash at bank and in hand 74,088 44,621
_______ _______
92,109 121,869
Creditors: amounts falling due
within one year 7 ( 57,455) ( 74,932)
_______ _______
Net current assets 34,654 46,937
_______ _______
Total assets less current liabilities 34,654 46,937
Creditors: amounts falling due
after more than one year 8 ( 23,449) ( 38,008)
_______ _______
Net assets 11,205 8,929
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Share premium account 19,950 19,950
Profit and loss account ( 9,745) ( 12,021)
_______ _______
Shareholders funds 11,205 8,929
_______ _______
For the period ending 28 February 2023 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 period 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 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 income statement has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 July 2023 , and are signed on behalf of the board by:
Mr P Start
Director
Company registration number: 07729994
Mr Start Ltd
Notes to the financial statements
Period ended 28 February 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Mr Start Limited, Office FF10 Brooklands House, 58 Marlborough Road, Lancing, West Sussex, BN15 8AF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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 the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fittings fixtures and equipment - 25 % straight line
Website Development - 20 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
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.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 5 (2021: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Website Development Total
£ £ £
Cost
At 1 September 2021 and 28 February 2023 2,112 21,995 24,107
_______ _______ _______
Depreciation
At 1 September 2021 and 28 February 2023 2,112 21,995 24,107
_______ _______ _______
Carrying amount
At 28 February 2023 - - -
_______ _______ _______
At 31 August 2021 - - -
_______ _______ _______
6. Debtors
28/02/23 31/08/21
£ £
Other debtors 8,197 7,182
_______ _______
7. Creditors: amounts falling due within one year
28/02/23 31/08/21
£ £
Bank loans and overdrafts 10,648 9,640
Trade creditors 29,003 55,171
Social security and other taxes 15,067 10,007
Other creditors 2,737 114
_______ _______
57,455 74,932
_______ _______
8. Creditors: amounts falling due after more than one year
28/02/23 31/08/21
£ £
Bank loans and overdrafts 23,449 38,008
_______ _______
9. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 28/02/23
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr P Start 2,719 4,223 - 6,942
_______ _______ _______ _______
Year ended 31/08/21
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr P Start ( 688) ( 19,301) 22,708 2,719
_______ _______ _______ _______
10. Controlling party
The company is under the control of the director P Start by virtue of his majority shareholding.