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COMPANY REGISTRATION NUMBER: 09429255
ARMEDA LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
28 February 2023
ARMEDA LTD
FINANCIAL STATEMENTS
Year ended 28 February 2023
CONTENTS
PAGE
Balance sheet
1
Notes to the financial statements
2
ARMEDA LTD
BALANCE SHEET
28 February 2023
2023
2022
Note
£
£
CURRENT ASSETS
Stocks
45,000
39,500
Cash at bank and in hand
3,595
--------
--------
48,595
39,500
CREDITORS: amounts falling due within one year
4
( 68,468)
( 44,243)
--------
--------
NET CURRENT LIABILITIES
( 19,873)
( 4,743)
--------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 19,873)
( 4,743)
CREDITORS: amounts falling due after more than one year
5
( 2,250)
( 3,250)
--------
-------
NET LIABILITIES
( 22,123)
( 7,993)
--------
-------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
( 22,125)
( 7,995)
--------
-------
SHAREHOLDERS FUNDS
( 22,123)
( 7,993)
--------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 23 February 2024 , and are signed on behalf of the board by:
Mr S Akhondi
Director
Company registration number: 09429255
ARMEDA LTD
NOTES TO THE FINANCIAL STATEMENTS
Year ended 28 February 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cedar House, Hazell Drive, Newport, NP10 8FY.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have been prepared on a going concern basis. The accounts show that the company had net liabilities of £22,123 at the balance sheet date. The director has therefore had to consider the appropriateness of the going concern basis. The company has been able to finance its operations because of the support from the director. Were this support not available, the company may not be able to continue trading. The director is satisfied that with this continuing support, the company will be able to meet its liabilities as they fall due. On the basis of the above, the director considers it appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. CREDITORS: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,000
1,106
Other creditors
67,468
43,137
--------
--------
68,468
44,243
--------
--------
5. CREDITORS: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,250
3,250
-------
-------
6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
Included within other creditors is £66,190 (2022 - £41,937) due to the director. This balance is interest free and repayable on demand.