Registered number
10285578
Splice Here Ltd
Filleted Accounts
31 July 2023
Splice Here Ltd
Registered number: 10285578
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 2,317 2,638
Current assets
Cash at bank and in hand 15,375 17,222
Creditors: amounts falling due within one year 5 (12,190) (10,908)
Net current assets 3,185 6,314
Total assets less current liabilities 5,502 8,952
Creditors: amounts falling due after more than one year 6 (5,000) (5,000)
Provisions for liabilities (446) (501)
Net assets 56 3,451
Capital and reserves
Called up share capital 1 1
Profit and loss account 55 3,450
Shareholder's funds 56 3,451
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.
Stephen Boucher
Director
Approved by the board on 9 November 2023
Splice Here Ltd
Notes to the Accounts
for the year ended 31 July 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 rendering of services. 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.
Government Grants
Grants received are credited as income in the profit and loss account as the related expenditure is incurred.
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:
Equipment 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Other Operating Income 2023 2022
£ £
Government Job Retention Support Scheme - 880
- 880
3 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Equipment
£
Cost
At 1 August 2022 5,063
Additions 260
At 31 July 2023 5,323
Depreciation
At 1 August 2022 2,425
Charge for the year 581
At 31 July 2023 3,006
Net book value
At 31 July 2023 2,317
At 31 July 2022 2,638
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 10,711 9,693
Accruals 1,129 1,117
Director's loan account 350 98
Other creditors - -
12,190 10,908
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,000 5,000
The bank loan is a UK government backed support grant.
7 Other information
Splice Here Ltd is a private company limited by shares and incorporated in England. Its registered office is:
69 Loughborough Road
West Bridgford
Nottingham
NG2 7LA
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