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Lines and Squares Ltd

Financial Statements for the Year Ended 31 July 2023






Lines and Squares Ltd (Registered number: 07692868)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lines and Squares Ltd

Company Information
for the year ended 31 July 2023







DIRECTORS: Mrs S Farr
Mr R A Farr





REGISTERED OFFICE: Red Sky House
Fairclough Hall
Halls Green, Weston
Hertfordshire
SG4 7DP





REGISTERED NUMBER: 07692868 (England and Wales)





ACCOUNTANTS: Hargreaves Owen Ltd
Chartered Certified Accountants
Red Sky House
Fairclough Hall, Halls Green
Weston
Hertfordshire
SG4 7DP

Lines and Squares Ltd (Registered number: 07692868)

Balance Sheet
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9 9

CURRENT ASSETS
Stocks - 15,688
Debtors 5 25,090 19,210
Cash at bank 4,130 1,041
29,220 35,939
CREDITORS
Amounts falling due within one year 6 29,192 35,729
NET CURRENT ASSETS 28 210
TOTAL ASSETS LESS CURRENT
LIABILITIES

37

219

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 27 209
SHAREHOLDERS' FUNDS 37 219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2024 and were signed on its behalf by:





Mr R A Farr - Director


Lines and Squares Ltd (Registered number: 07692868)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Lines and Squares Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 August 2022
and 31 July 2023 7,930
DEPRECIATION
At 1 August 2022
and 31 July 2023 7,921
NET BOOK VALUE
At 31 July 2023 9
At 31 July 2022 9

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,190 1,440
Other debtors 700 700
Prepayments and accrued income 15,200 17,070
25,090 19,210

Lines and Squares Ltd (Registered number: 07692868)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 15,200 20,000
Corporation tax 3,457 5,220
VAT 5,979 6,958
Directors' current accounts 3,632 2,627
Accrued expenses 924 924
29,192 35,729