COMPANY REGISTRATION NUMBER:
3622891
Filleted Unaudited Financial Statements |
|
31 August 2023
Current assets
Stocks |
8,000 |
|
8,000 |
Debtors |
5 |
95,445 |
|
108,477 |
|
--------- |
|
--------- |
|
103,445 |
|
116,477 |
|
|
|
|
|
Creditors: amounts falling due within one year |
6 |
22,792 |
|
30,944 |
|
--------- |
|
--------- |
Net current assets |
|
80,653 |
85,533 |
|
|
-------- |
-------- |
Total assets less current liabilities |
|
80,653 |
85,533 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
45,514 |
50,394 |
|
|
-------- |
-------- |
Net assets |
|
35,139 |
35,139 |
|
|
-------- |
-------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
5,000 |
5,000 |
Profit and loss account |
|
30,139 |
30,139 |
|
|
-------- |
-------- |
Shareholders funds |
|
35,139 |
35,139 |
|
|
-------- |
-------- |
|
|
|
|
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 statement of comprehensive income (including profit and loss account) has not been delivered.
For the year ending 31 August 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
.
Balance Sheet (continued) |
|
31 August 2023
These financial statements were approved by the
board of directors
and authorised for issue on
14 March 2024
, and are signed on behalf of the board by:
Company registration number:
3622891
Notes to the Financial Statements |
|
Year ended 31 August 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 1st Floor Connaught House, Broomhill Road, Woodford Green, Essex, IG8 0XR.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. There are no material judgements, estimates or assumptions.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered during the year
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date.
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
|
Office equipment |
- |
33% 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.
Stocks
Work in progress is included at sales value in respect of work performed that is more than 50% complete at the period end and expected to be written or billed immediately after the period end.
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. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Tangible assets
|
Equipment |
Total |
|
£ |
£ |
Cost |
|
|
At 1 September 2022 and 31 August 2023 |
9,199 |
9,199 |
|
------- |
------- |
Depreciation |
|
|
At 1 September 2022 and 31 August 2023 |
9,199 |
9,199 |
|
------- |
------- |
Carrying amount |
|
|
At 31 August 2023 |
– |
– |
|
------- |
------- |
At 31 August 2022 |
– |
– |
|
------- |
------- |
|
|
|
5.
Debtors
|
2023 |
2022 |
|
£ |
£ |
Trade debtors |
90,550 |
103,700 |
Other debtors |
4,895 |
4,777 |
|
-------- |
--------- |
|
95,445 |
108,477 |
|
-------- |
--------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
22,718 |
30,149 |
Corporation tax |
1 |
795 |
Other creditors |
73 |
– |
|
-------- |
-------- |
|
22,792 |
30,944 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2023 |
2022 |
|
£ |
£ |
Bank loans and overdrafts |
37,014 |
41,894 |
Other creditors |
8,500 |
8,500 |
|
-------- |
-------- |
|
45,514 |
50,394 |
|
-------- |
-------- |
|
|
|
8.
Director's advances, credits and guarantees
As at 31 August 2023 directors' loans totalling £8,500 (2022 £8,500) were still outstanding and will not be repaid before 31 August 2024.
9.
Reserves
The only movement in equity during the year was in respect of the profit for the year. All of the profit and loss reserve is distributable.