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COMPANY REGISTRATION NUMBER: 10220153
Your Startup Partner Ltd
Filleted Unaudited Financial Statements
30 June 2023
Your Startup Partner Ltd
Financial Statements
Year ended 30 June 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Your Startup Partner Ltd
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
333
533
Current assets
Debtors
6
18,087
13,143
Cash at bank and in hand
1,454
--------
--------
19,541
13,143
Creditors: amounts falling due within one year
7
16,511
8,802
--------
--------
Net current assets
3,030
4,341
-------
-------
Total assets less current liabilities
3,363
4,874
Creditors: amounts falling due after more than one year
8
2,786
4,536
-------
-------
Net assets
577
338
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
576
337
----
----
Shareholders funds
577
338
----
----
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 year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Your Startup Partner Ltd
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 16 November 2023 , and are signed on behalf of the board by:
Mrs Lee Lam
Director
Company registration number: 10220153
Your Startup Partner Ltd
Notes to the Financial Statements
Year ended 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 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ, 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 on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and 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:
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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 July 2022 and 30 June 2023
800
----
Depreciation
At 1 July 2022
267
Charge for the year
200
----
At 30 June 2023
467
----
Carrying amount
At 30 June 2023
333
----
At 30 June 2022
533
----
6. Debtors
2023
2022
£
£
Trade debtors
3,896
1,620
Other debtors
14,191
11,523
--------
--------
18,087
13,143
--------
--------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
4,459
3,747
Trade creditors
375
1,511
Corporation tax
6,785
1,373
Social security and other taxes
3,642
921
Other creditors
1,250
1,250
--------
-------
16,511
8,802
--------
-------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,786
4,536
-------
-------
9. Director's advances, credits and guarantees
At the year end the company was owed £14,230 (2022: £9,999) by the director. During the year the company made advances to the directors of £41,950 (2022: £20,460), the directors made repayments of £37,881 (2022: £10,349) and interest of £123 (2022: £Nil) was charged on the loan at a rate of 2%.
10. Related party transactions
At the year end the company was owed £14,191 (2022: £9,999) by the director.