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COMPANY REGISTRATION NUMBER: 03225299
Stylespace Limited
Filleted Unaudited Financial Statements
31 July 2023
Stylespace Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Current assets
Debtors
4
2,000
5,399
Cash at bank and in hand
20,353
27,020
--------
--------
22,353
32,419
Creditors: amounts falling due within one year
5
467,465
476,827
---------
---------
Net current liabilities
445,112
444,408
---------
---------
Total assets less current liabilities
( 445,112)
( 444,408)
---------
---------
Net liabilities
( 445,112)
( 444,408)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 445,212)
( 444,508)
---------
---------
Shareholders deficit
( 445,112)
( 444,408)
---------
---------
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 income and retained earnings has not been delivered.
For the year ending 31 July 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Stylespace Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 23 November 2023 , and are signed on behalf of the board by:
J T Cullen
Director
Company registration number: 03225299
Stylespace Limited
Notes to the Financial Statements
Year ended 31 July 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 Office 1a, 20a Poplar Road, Corner of Poplar Road, Solihull, B91 3AB, 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 company is dependant upon the continued support of the director.
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 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.
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:
Plant & machinery
-
15% reducing balance
4. Debtors
2023
2022
£
£
Other debtors
2,000
5,399
-------
-------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
467,465
476,827
---------
---------
6. Director's advances, credits and guarantees
There are no disclosures in respect of directors advances and credits.