Registered number
06962691
U MARKA LIMITED
Filleted Accounts
31 July 2023
U MARKA LIMITED
Registered number: 06962691
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 6,894 4,907
Current assets
Stocks 50,950 51,470
Cash at bank and in hand 6,859 12,369
57,809 63,839
Creditors: amounts falling due within one year 4 (32,315) (19,966)
Net current assets 25,494 43,873
Total assets less current liabilities 32,388 48,780
Creditors: amounts falling due after more than one year 5 (39,600) (39,600)
Net (liabilities)/assets (7,212) 9,180
Capital and reserves
Called up share capital 100 100
Profit and loss account (7,312) 9,080
Shareholders' funds (7,212) 9,180
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 her 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.
Elzbieta KAMINSKA
Director
Approved by the board on 8 March 2024
U MARKA LIMITED
Notes to the Accounts
for the year ended 31 July 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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, at rates calculated to write off the cost, less estimated residual value, as follows:
Fixtures, fittings and equipment 18% reducing balance method
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 corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Corporation tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 August 2022 34,129
Additions 3,500
At 31 July 2023 37,629
Depreciation
At 1 August 2022 29,222
Charge for the year 1,513
At 31 July 2023 30,735
Net book value
At 31 July 2023 6,894
At 31 July 2022 4,907
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 18,926 21,171
Taxation and social security costs (3,794) (1,205)
Other creditors 17,183 -
32,315 19,966
5 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 39,600 39,600
6 Other information
U MARKA LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
414 Mare Street
London
E8 1HP
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