COMPANY REGISTRATION NUMBER:
14123919
Filleted Unaudited Financial Statements |
|
Period from 23 May 2022 to 31 May 2023
Notes to the financial statements |
2 |
|
|
31 May 2023
Fixed assets
Creditors: amounts falling due within one year |
5 |
1,213 |
|
------- |
Net current liabilities |
1,213 |
|
------- |
Total assets less current liabilities |
2,930 |
|
------- |
Net assets |
2,930 |
|
------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
Profit and loss account |
2,830 |
|
------- |
Shareholders funds |
2,930 |
|
------- |
|
|
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 period ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their 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:
Mrs Amy Griffith |
Director |
|
Company registration number:
14123919
Notes to the Financial Statements |
|
Period from 23 May 2022 to 31 May 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 Cove Hushes, Christchurch Lane, Market Drayton, Shropshire, TF9 1DZ, United Kingdom. The company registration number is
14123919
.
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. The financial statements are prepared in sterling which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest £.
Revenue recognition
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The basic financial instruments of the company are as follows: Debtors Debtors do not carry any interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objectives evidence that the asset is impaired. Cash at bank and in hand This comprises cash at bank and in hand. Trade creditors Trade creditors are not interest bearing and are stated at their nominal value.
4.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 23 May 2022 |
– |
Additions |
5,179 |
|
------- |
At 31 May 2023 |
5,179 |
|
------- |
Depreciation |
|
At 23 May 2022 |
– |
Charge for the period |
1,036 |
|
------- |
At 31 May 2023 |
1,036 |
|
------- |
Carrying amount |
|
At 31 May 2023 |
4,143 |
|
------- |
|
|
5.
Creditors:
amounts falling due within one year
|
31 May 23 |
|
£ |
Other creditors |
1,213 |
|
------- |
|
|