Registered number
11630552
POSH WASH LTD
Unaudited Filleted Accounts
31 March 2023
POSH WASH LTD
Registered number: 11630552
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 356,456 360,913
Current assets
Debtors 4 - 46,944
Cash at bank and in hand 7,454 32,236
7,454 79,180
Creditors: amounts falling due within one year 5 (362,371) (437,267)
Net current liabilities (354,917) (358,087)
Net assets 1,539 2,826
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,439 2,726
Shareholders' funds 1,539 2,826
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.
Alexy Abou-Jaoude
Director
Approved by the board on 12 July 2023
POSH WASH LTD
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
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 over 5 years
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 10 8
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 352,000 22,287 374,287
At 31 March 2023 352,000 22,287 374,287
Depreciation
At 1 April 2022 - 13,374 13,374
Charge for the year - 4,457 4,457
At 31 March 2023 - 17,831 17,831
Net book value
At 31 March 2023 352,000 4,456 356,456
At 31 March 2022 352,000 8,913 360,913
4 Debtors 2023 2022
£ £
Trade debtors - 46,944
5 Creditors: amounts falling due within one year 2023 2022
£ £
Mortgage 120,171 131,058
Trade creditors - 13,920
Corporation tax 15,242 15,315
Other taxes and social security costs 12,432 25,487
Other creditors 214,526 251,487
362,371 437,267
6 Other information
POSH WASH LTD is a private company limited by shares and incorporated in England. Its registered office is:
90 Brixton Hill
London
SW2 1QN
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