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COMPANY REGISTRATION NUMBER: 14153202
SHEAR DESIRE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 June 2023
SHEAR DESIRE LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 6 JUNE 2022 TO 30 JUNE 2023
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 4
SHEAR DESIRE LIMITED
BALANCE SHEET
30 June 2023
30 Jun 23
Note
£
Fixed assets
Tangible assets
4
1,414
Current assets
Stocks
5
500
Debtors
6
13,989
Cash at bank and in hand
5,342
------------
19,831
Creditors: amounts falling due within one year
7
( 33,269)
------------
Net current liabilities
( 13,438)
------------
Total assets less current liabilities
( 12,024)
------------
Net liabilities
( 12,024)
------------
Capital and reserves
Called up share capital
8
2
Profit and loss account
( 12,026)
------------
Shareholders deficit
( 12,024)
------------
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 30 June 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 1 March 2024 , and are signed on behalf of the board by:
Mrs C L Watson
Director
Company registration number: 14153202
SHEAR DESIRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 6 JUNE 2022 TO 30 JUNE 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 61 New Templegate, Leeds, LS15 0JL, England.
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.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Tangible assets
Tangible assets are initally recorded at cost, and subsequently stated at cost less any accumulated depreciation and 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:
Fixtures, fittings and equipment
-
25% reducing balance
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
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.
4. Tangible assets
Fixtures, fittings and equipment
£
Cost
At 6 June 2022
Additions
1,885
------------
At 30 June 2023
1,885
------------
Depreciation
At 6 June 2022
Charge for the period
471
------------
At 30 June 2023
471
------------
Carrying amount
At 30 June 2023
1,414
------------
5. Stocks
30 Jun 23
£
Raw materials and consumables
500
------------
6. Debtors
30 Jun 23
£
Called up share capital not paid
2
Prepayments and accrued income
7,337
Directors' loan account
6,650
------------
13,989
------------
7. Creditors: amounts falling due within one year
30 Jun 23
£
Accruals and deferred income
900
Other creditors
32,369
------------
33,269
------------
8. Called up share capital
Issued, called up and fully paid
30 Jun 23
No.
£
Ordinary shares of £ 1 each
2
2
------------
------------
During the period the company issued 2 ordinary shares of £1 each at par.
9. Related party transactions
The directors' loan account as shown at note 7 above of £6,650 (debtor) is unsecured, repayable on demand and currently interest free. There is no one controlling party of the company.
10. Going concern
The directors are organising ongoing working capital for the company. Consequently, the accounts have been prepared on a going concern basis.