Registered number
07169380
SPINE BACK RACK LIMITED
Filleted Accounts
28 February 2023
SPINE BACK RACK LIMITED
Registered number: 07169380
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 598 1,010
Current assets
Stocks 12,816 12,816
Cash at bank and in hand 17,897 20,013
30,713 32,829
Creditors: amounts falling due within one year 4 (324,244) (325,071)
Net current liabilities (293,531) (292,242)
Net liabilities (292,933) (291,232)
Capital and reserves
Called up share capital 1 1
Profit and loss account (292,934) (291,233)
Shareholder's funds (292,933) (291,232)
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.
Bohdan Miroslaw LUKLINSKI
Director
Approved by the board on 23 November 2023
SPINE BACK RACK LIMITED
Notes to the Accounts
for the year ended 28 February 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:
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fixtures, fittings, tools and equipment
£
Cost
At 1 March 2022 2,057
At 28 February 2023 2,057
Depreciation
At 1 March 2022 1,047
Charge for the year 412
At 28 February 2023 1,459
Net book value
At 28 February 2023 598
At 28 February 2022 1,010
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,456 (1,491)
Taxation and social security costs (2,469) (970)
Other creditors 325,257 327,532
324,244 325,071
5 Other information
SPINE BACK RACK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
31 Merrow Woods
Guildford
GU1 2LQ
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