Registered number
06727362
SBU Design Limited
Filleted Accounts
31 October 2023
SBU Design Limited
Registered number: 06727362
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 51,923 2,053
Current assets
Debtors 4 5,323 204,350
Cash at bank and in hand 403,542 167,428
408,865 371,778
Creditors: amounts falling due within one year 5 (61,177) (88,742)
Net current assets 347,688 283,036
Net assets 399,611 285,089
Capital and reserves
Called up share capital 100 100
Profit and loss account 399,511 284,989
Shareholders' funds 399,611 285,089
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Adam Pearce
Director
Approved by the board on 21 November 2023
SBU Design Limited
Notes to the Accounts
for the year ended 31 October 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:
Plant and machinery 25% Reducing Balance
Motor vehicle 25% Reducing Balance
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. 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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 11,385 - 11,385
Additions 10,780 56,397 67,177
At 31 October 2023 22,165 56,397 78,562
Depreciation
At 1 November 2022 9,332 - 9,332
Charge for the year 3,208 14,099 17,307
At 31 October 2023 12,540 14,099 26,639
Net book value
At 31 October 2023 9,625 42,298 51,923
At 31 October 2022 2,053 - 2,053
4 Debtors 2023 2022
£ £
Trade debtors 3,560 203,545
Directors' loan 521 521
Other taxes and social securities 1,242 284
5,323 204,350
5 Creditors: amounts falling due within one year 2023 2022
£ £
Accruals 125 -
Taxation and social security costs 61,052 88,742
61,177 88,742
6 Controlling party
The Director, Pernilla Pearce, controls the company by virtue of her shareholding and Directorship.
7 Other information
SBU Design Limited is a private company limited by shares and incorporated in England. Its registered office is:
Birchin Court
20 Birchin Lane
London
EC3V 9DU
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