Registered number
10378000
Oscar Fairchild (London) Ltd
Filleted Accounts
30 September 2023
Oscar Fairchild (London) Ltd
Registered number: 10378000
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 8,115 10,821
Tangible assets 4 6,508 4,915
14,623 15,736
Current assets
Debtors 5 37,972 32,877
Cash at bank and in hand 73,350 73,542
111,322 106,419
Creditors: amounts falling due within one year 6 (79,539) (71,904)
Net current assets 31,783 34,515
Total assets less current liabilities 46,406 50,251
Provisions for liabilities (1,690) (1,230)
Net assets 44,716 49,021
Capital and reserves
Called up share capital 100 100
Profit and loss account 44,616 48,921
Shareholders' funds 44,716 49,021
The directors are 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 directors acknowledge their 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.
Kim Redwood-Lee
Director
Approved by the board on 9 April 2024
Oscar Fairchild (London) Ltd
Notes to the Accounts
for the year ended 30 September 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing balance
Website over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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 9 3
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 47,825
At 30 September 2023 47,825
Amortisation
At 1 October 2022 37,004
Provided during the year 2,706
At 30 September 2023 39,710
Net book value
At 30 September 2023 8,115
At 30 September 2022 10,821
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Computer equipment
£
Cost
At 1 October 2022 12,880
Additions 3,762
At 30 September 2023 16,642
Depreciation
At 1 October 2022 7,965
Charge for the year 2,169
At 30 September 2023 10,134
Net book value
At 30 September 2023 6,508
At 30 September 2022 4,915
5 Debtors 2023 2022
£ £
Trade debtors 37,441 32,315
Other debtors 531 562
37,972 32,877
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,495 14,495
Trade creditors 3,154 3,815
Taxation and social security costs 62,032 49,749
Other creditors 3,858 3,845
79,539 71,904
7 Other information
Oscar Fairchild (London) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Room 5, 88a High Street
Billericay
Essex
CM12 9BT
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