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Registered number: 12409549
Screensight Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
James Khan
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 12409549
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,155 5,037
4,155 5,037
CURRENT ASSETS
Debtors 5 13,321 15,254
Cash at bank and in hand 21 94
13,342 15,348
Creditors: Amounts Falling Due Within One Year 6 (16,545 ) (16,087 )
NET CURRENT ASSETS (LIABILITIES) (3,203 ) (739 )
TOTAL ASSETS LESS CURRENT LIABILITIES 952 4,298
Creditors: Amounts Falling Due After More Than One Year 7 (4,222 ) (4,222 )
NET (LIABILITIES)/ASSETS (3,270 ) 76
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account (3,271 ) 75
SHAREHOLDERS' FUNDS (3,270) 76
Page 1
Page 2
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Jac Jones
Director
26/02/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Screensight Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12409549 . The registered office is Apartment 66, Brickworks Trade Street, Butetown, Cardiff, CF10 5EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Computer Equipment 20% on cost
2.4. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: 1)
- 1
4. Tangible Assets
Plant & Machinery Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 4,772 4,464 9,236
Additions - 519 519
As at 31 January 2024 4,772 4,983 9,755
Depreciation
As at 1 February 2023 1,787 2,412 4,199
Provided during the period 448 953 1,401
As at 31 January 2024 2,235 3,365 5,600
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 January 2024 2,537 1,618 4,155
As at 1 February 2023 2,985 2,052 5,037
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 13,321 15,254
13,321 15,254
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 1,200 1,248
Other creditors 1,717 1,247
Taxation and social security 13,628 13,592
16,545 16,087
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 4,222 4,222
4,222 4,222
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Directors Advances, Credits and Guarantees
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mr Jac Jones 11,449 59,500 60,990 - 9,959
The above loan is unsecured, interest payable at 2% and repayable on demand.
Page 4