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COMPANY REGISTRATION NUMBER: 13910230
Amwell Street Cutting Rooms Limited
Filleted Unaudited Financial Statements
30 June 2023
Amwell Street Cutting Rooms Limited
Statement of Financial Position
30 June 2023
30 Jun 23
Note
£
£
Fixed assets
Tangible assets
4
124,871
Current assets
Debtors
5
42,564
Cash at bank and in hand
63,071
---------
105,635
Creditors: amounts falling due within one year
6
399,727
---------
Net current liabilities
294,092
---------
Total assets less current liabilities
( 169,221)
---------
Net liabilities
( 169,221)
---------
Capital and reserves
Called up share capital
1
Profit and loss account
( 169,222)
---------
Shareholders deficit
( 169,221)
---------
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 statement of comprehensive income has not been delivered.
For the period ending 30 June 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 .
Amwell Street Cutting Rooms Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 9 November 2023 , and are signed on behalf of the board by:
A Macdonald
Director
Company registration number: 13910230
Amwell Street Cutting Rooms Limited
Notes to the Financial Statements
Period from 11 February 2022 to 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 10 Orange Street, Haymarket, London, WC2H7DQ, England.
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 under the historical cost basis, and in compliancewith FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic ofIreland. The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2021. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue is recognised on the delivery of the product to the end user.
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.
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:
Long leasehold property
-
10% straight line
Fixtures and fittings
-
25% straight line
Equipment
-
25% 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.
Financial instruments
Financial assets Financial assets are recognised when the Company becomes a party to the contractual provisions of the financial instrument. The Company does not hold any third party financial assets. Loans and Receivables Trade receivables and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are initially recognised at fair value and are subsequently measured using the effective interest method less provision for any impairment. Financial liabilities and equity instruments Financial liabilities and equity are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Other financial liabilities (including borrowing and trade and other payables) are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method
4. Tangible assets
Land and buildings
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 11 February 2022
Additions
2,193
180,575
9,860
192,628
-------
---------
-------
---------
At 30 June 2023
2,193
180,575
9,860
192,628
-------
---------
-------
---------
Depreciation
At 11 February 2022
Charge for the period
311
63,954
3,492
67,757
-------
---------
-------
---------
At 30 June 2023
311
63,954
3,492
67,757
-------
---------
-------
---------
Carrying amount
At 30 June 2023
1,882
116,621
6,368
124,871
-------
---------
-------
---------
Tangible assets are initially recorded at cost, and subsequently stated at cost less anyaccumulated depreciation and impairment losses.
5. Debtors
30 Jun 23
£
Trade debtors
22,620
Other debtors
19,944
--------
42,564
--------
6. Creditors: amounts falling due within one year
30 Jun 23
£
Trade creditors
20,462
Social security and other taxes
4,650
Other creditors
374,615
---------
399,727
---------
7. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2021.
No transitional adjustments were required in equity or profit or loss for the period.