Registered number
10272500
SAMSUNLU 55 LTD
Filleted Accounts
30 June 2023
SAMSUNLU 55 LTD
Registered number: 10272500
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 9,739 10,644
Current assets
Stocks 17,290 9,790
Debtors 4 - 14,800
Cash at bank and in hand 29,898 19,206
47,188 43,796
Creditors: amounts falling due within one year 5 (53,751) (28,365)
Net current (liabilities)/assets (6,563) 15,431
Total assets less current liabilities 3,176 26,075
Creditors: amounts falling due after more than one year 6 (25,890) (36,512)
Net liabilities (22,714) (10,437)
Capital and reserves
Called up share capital 100 100
Profit and loss account (22,814) (10,537)
Shareholder's funds (22,714) (10,437)
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 member has 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.
Mr. Hamza Gurbuz
Director
Approved by the board on 15 February 2024
SAMSUNLU 55 LTD
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. 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 tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, as follows:
Fixture & fittings 18% Reducing balace
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).
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit.Corporation tax liability is not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Fixtures & fittings
£
Cost
At 1 July 2022 11,236
Additions 1,011
At 30 June 2023 12,247
Depreciation
At 1 July 2022 592
Charge for the year 1,916
At 30 June 2023 2,508
Net book value
At 30 June 2023 9,739
At 30 June 2022 10,644
4 Debtors 2023 2022
£ £
Prepayments & other debtors - 14,800
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax - 3,783
Directors loan account 26,053
Bank loans 10,776 11,040
V.A.T. 4,856 7,798
Trade creditors 1,327 1,494
Social security costs 8,591 2,624
Accrued expenses & other creditors 2,148 1,626
53,751 28,365
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 17,212 27,834
Other creditors 8,678 8,678
25,890 36,512
7 Other information
SAMSUNLU 55 LTD is a private company limited by shares and incorporated in England. Its registered office is:
147 Cranbrook Road
Ilford
Essex
IG1 4PU
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