Company Registration No. 13426100 (England and Wales)
IDLE HOURS LIMITED
Unaudited accounts
for the year ended 31 May 2023
IDLE HOURS LIMITED
Unaudited accounts
Contents
IDLE HOURS LIMITED
Company Information
for the year ended 31 May 2023
Directors
Oliver Sylvester-Bradley
Danila Gjini
Company Number
13426100 (England and Wales)
Registered Office
4 PARK VIEW MANSIONS
HIGHGATE HIGH STREET
LONDON
N6 5JJ
ENGLAND
Accountants
Taxez
5 South Charlotte Street
Edinburgh
EH2 4AN
IDLE HOURS LIMITED
Statement of financial position
as at 31 May 2023
Investment property
501,124
501,124
Cash at bank and in hand
3,766
5,660
Creditors: amounts falling due within one year
(202,983)
(197,920)
Net current liabilities
(199,197)
(192,240)
Total assets less current liabilities
301,927
308,884
Creditors: amounts falling due after more than one year
(311,597)
(311,610)
Net liabilities
(9,670)
(2,726)
Called up share capital
112
112
Profit and loss account
(9,782)
(2,838)
Shareholders' funds
(9,670)
(2,726)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 February 2024 and were signed on its behalf by
Oliver Sylvester-Bradley
Director
Company Registration No. 13426100
IDLE HOURS LIMITED
Notes to the Accounts
for the year ended 31 May 2023
IDLE HOURS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 13426100. The registered office is 4 PARK VIEW MANSIONS, HIGHGATE HIGH STREET, LONDON, N6 5JJ, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The directors have considered the effect of future events on the company and has determined that they do not create a material uncertainty that casts significant doubt upon the company's ability to continue as a going concern. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
Fair value at 1 June 2022
501,124
Amounts falling due within one year
IDLE HOURS LIMITED
Notes to the Accounts
for the year ended 31 May 2023
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
202,624
197,200
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
311,597
311,610
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).