Registered number
05224621
3 Wise Monkeys Services Limited
Unaudited Filleted Accounts
30 June 2023
3 Wise Monkeys Services Limited
Registered number: 05224621
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 56,187 44,817
Current assets
Stocks 667,644 715,372
Debtors 4 16,564 18,058
Cash at bank and in hand 119,447 183,448
803,655 916,878
Creditors: amounts falling due within one year 5 (465,264) (638,667)
Net current assets 338,391 278,211
Net assets 394,578 323,028
Capital and reserves
Called up share capital 100 100
Share premium 9,940 9,940
Profit and loss account 384,538 312,988
Shareholders' funds 394,578 323,028
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 members have 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.
J N Flowers
Director
Approved by the board on 7 March 2024
3 Wise Monkeys Services Limited
Notes to the Accounts
for the year ended 30 June 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold property 15% on reducing balance
Plant and machinery 25% on reducing balance
Computer equipment 25% on reducing balance
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), 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. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
(including Directors)
3 Tangible fixed assets
Land and buildings Plant and machinery etc Computer Equipment Total
£ £ £ £
Cost
At 1 July 2022 36,376 15,216 39,456 91,048
Additions 6,234 11,645 1,776 19,655
At 30 June 2023 42,610 26,861 41,232 110,703
Depreciation
At 1 July 2022 7,193 10,888 28,150 46,231
Charge for the year 4,377 1,082 2,826 8,285
At 30 June 2023 11,570 11,970 30,976 54,516
Net book value
At 30 June 2023 31,040 14,891 10,256 56,187
At 30 June 2022 29,183 4,328 11,306 44,817
4 Debtors 2023 2022
£ £
Trade debtors 16,564 18,058
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 32,500 42,500
Amazon loan 171,084 380,438
Trade creditors 46,234 101,274
Taxation and social security costs 75,611 64,520
Other creditors 139,835 49,935
465,264 638,667
6 Related party transactions
Transactions with related parties
During the year the company entered into the following transactions with related parties:
2023 2022
Amounts due to related parties £ £
Owners holding a participating interest in the company 139,835 49,935
The amounts owed to owners holding a participating interest in the company are amounts
loaned to the company.The loan is interest free and repayable on demand.
7 Other information
3 Wise Monkeys Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
Tunfield Nursery
Unit 3 Hog Lane
Ashley Green
Buckinghamshire
HP5 3PY
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