Good Sense Stationery Office Supplies Limited
Company Registration No. 09416004 (England And Wales)
Unaudited Financial Statements
Period Ended 27 August 2023
GOOD SENSE STATIONERY OFFICE SUPPLIES LIMITED
Good Sense Stationery Office Supplies Limited
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
GOOD SENSE STATIONERY OFFICE SUPPLIES LIMITED
Good Sense Stationery Office Supplies Limited
BALANCE SHEET
AS AT 27 AUGUST 2023
27 August 2023
- 1 -
27 August 2023
27 February 2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
1,285
Current assets
Stocks
-
100
Debtors
4
-
0
5,789
Cash at bank and in hand
20,798
57,336
20,798
63,225
Creditors: amounts falling due within one year
5
(29,347)
(86,463)
Net current liabilities
(8,549)
(23,238)
Net liabilities
(8,549)
(21,953)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(8,649)
(22,053)
Total equity
(8,549)
(21,953)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 27 August 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

GOOD SENSE STATIONERY OFFICE SUPPLIES LIMITED
Good Sense Stationery Office Supplies Limited
BALANCE SHEET (CONTINUED)
AS AT 27 AUGUST 2023
27 August 2023
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 5 March 2024
Mrs G Millington
Director
Company registration number 09416004 (England and Wales)
GOOD SENSE STATIONERY OFFICE SUPPLIES LIMITED
Good Sense Stationery Office Supplies Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 27 AUGUST 2023
- 3 -
1
Accounting policies
Company information

Good Sense Stationery Office Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Meadowside Offices, Church Lane, Ash Magna, Whitchurch, Shropshire, SY13 4EA.

1.1
Reporting period

FRS 102 3.10 An entity shall present a complete set of financial statements (including comparative information as set out in paragraph 3.14) at least annually. When the end of an entity’s reporting period changes and the annual financial statements are presented for a period longer or shorter than one year, the entity shall disclose the following: (a) that fact; (b) the reason for using a longer or shorter period; and (c) the fact that comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

There was a net deficiency of assets of £8,549 at the balance sheet date, however the directors have confirmed continued support and consider the company retains sufficient working capital to continue trading for the foreseeable future. The accounts are therefore prepared on a going concern basis.

The accounts have been prepared on a going concern basis as the company will be supported by its director for the foreseeable future.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.5
Tangible fixed assets
GOOD SENSE STATIONERY OFFICE SUPPLIES LIMITED
Good Sense Stationery Office Supplies Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27 AUGUST 2023
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Computers
33% straight line
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2022
Number
Number
Total
1
1
GOOD SENSE STATIONERY OFFICE SUPPLIES LIMITED
Good Sense Stationery Office Supplies Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 27 AUGUST 2023
- 5 -
3
Tangible fixed assets
Plant and equipment
Computers
Total
£
£
£
Cost
At 28 February 2022
1,492
2,591
4,083
Disposals
(1,492)
(2,591)
(4,083)
At 27 August 2023
-
0
-
0
-
0
Depreciation and impairment
At 28 February 2022
1,165
1,633
2,798
Eliminated in respect of disposals
(1,165)
(1,633)
(2,798)
At 27 August 2023
-
0
-
0
-
0
Carrying amount
At 27 August 2023
-
0
-
0
-
0
At 27 February 2022
327
958
1,285
4
Debtors
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
5,789
5
Creditors: amounts falling due within one year
2022
£
£
Trade creditors
-
0
7,375
Corporation tax
3,446
916
Other taxation and social security
-
0
80
Other creditors
25,901
78,092
29,347
86,463
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