Registered number
10835135
Balcony Limited
Unaudited Filleted Financial Statements
For the year ended 30 June 2023
Balcony Limited
Registered number: 10835135
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 332
Current assets
Debtors 4 9,860 22,082
Cash at bank and in hand 20,540 32,986
30,400 55,068
Creditors: amounts falling due within one year 5 (29,623) (49,258)
Net current assets 777 5,810
Net assets 777 6,142
Capital and reserves
Called up share capital 100 100
Profit and loss account 677 6,042
Shareholders' funds 777 6,142
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.
C. Henley
Director
Approved by the board on 25 August 2023
Balcony Limited
Notes to the Accounts
for the year ended 30 June 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.
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.
Grant Income
Grants are included in the Profit and Loss account on a receivable basis. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 July 2022 1,148
At 30 June 2023 1,148
Depreciation
At 1 July 2022 816
Charge for the year 332
At 30 June 2023 1,148
Net book value
At 30 June 2023 -
At 30 June 2022 332
4 Debtors 2023 2022
£ £
Trade debtors 9,860 22,082
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 5,002 5,340
Taxation and social security costs 7,028 8,633
Other creditors 17,593 35,285
29,623 49,258
6 Other information
Balcony Limited is a private company limited by shares and incorporated in England. Its registered office is:
78 Bute Street
Luton
LU1 2EY
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