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COMPANY REGISTRATION NUMBER: 08917452
Stratsmith Ltd
Filleted Unaudited Financial Statements
28 February 2023
Stratsmith Ltd
Financial Statements
Year ended 28 February 2023
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Stratsmith Ltd
Balance Sheet
28 February 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
2,921
Current assets
Debtors
7
5,502
3,600
Cash at bank and in hand
43,177
79,695
--------
--------
48,679
83,295
Creditors: amounts falling due within one year
8
( 23,999)
( 17,361)
--------
--------
Net current assets
24,680
65,934
--------
--------
Total assets less current liabilities
24,680
68,855
Provisions
Taxation including deferred tax
( 555)
--------
--------
Net assets
24,680
68,300
--------
--------
Stratsmith Ltd
Balance Sheet (continued)
28 February 2023
2023
2022
Note
£
£
£
£
Capital and reserves
Called up share capital
100
100
Profit and loss account
24,580
68,200
--------
--------
Shareholders funds
24,680
68,300
--------
--------
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 profit and loss account has not been delivered.
For the year ending 28 February 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 year 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 .
These financial statements were approved by the board of directors and authorised for issue on 28 November 2023 , and are signed on behalf of the board by:
Mr C Smith
Director
Company registration number: 08917452
Stratsmith Ltd
Notes to the Financial Statements
Year ended 28 February 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 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
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 and in sterling, which is the functional currency of the entity.
Going concern
The company ceased to trade on 28 February 2023.
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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
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:
Plant and machinery
-
25% straight line
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.
4. Other operating income
Other operating income is income received from Government grants.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
6. Tangible assets
Plant and machinery
£
Cost
At 1 March 2022
5,062
Disposals
( 5,062)
-------
At 28 February 2023
-------
Depreciation
At 1 March 2022
2,141
Charge for the year
1,266
Disposals
( 3,407)
-------
At 28 February 2023
-------
Carrying amount
At 28 February 2023
-------
At 28 February 2022
2,921
-------
7. Debtors
2023
2022
£
£
Trade debtors
3,600
Other debtors
5,502
-------
-------
5,502
3,600
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
4,399
Social security and other taxes
168
2,165
Other creditors
23,831
10,797
--------
--------
23,999
17,361
--------
--------
9. Directors' advances, credits and guarantees
During the year the directors had an interest free, repayable on demand, loan with the company. At the start of the year the company owed the directors £110 and at the end of the year the company owed the directors £11,301.