Registered number
10534032
The Aussie Smoker Ltd
Filleted Accounts
31 December 2023
The Aussie Smoker Ltd
Registered number: 10534032
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 499 997
Tangible assets 4 26,582 22,881
27,081 23,878
Current assets
Debtors 5 60,754 66,295
Cash at bank and in hand 58,895 87,088
119,649 153,383
Creditors: amounts falling due within one year 6 (39,677) (63,457)
Net current assets 79,972 89,926
Total assets less current liabilities 107,053 113,804
Provisions for liabilities (5,050) (4,537)
Net assets 102,003 109,267
Capital and reserves
Called up share capital 1 1
Profit and loss account 102,002 109,267
Shareholder's funds 102,003 109,267
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Adam Kesacoff
Director
Approved by the board on 28 March 2024
The Aussie Smoker Ltd
Notes to the Accounts
for the year ended 31 December 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing Balance
Fixtures, fittings, tools and equipment 25% Reducing Balance
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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 2,494
At 31 December 2023 2,494
Amortisation
At 1 January 2023 1,497
Provided during the year 498
At 31 December 2023 1,995
Net book value
At 31 December 2023 499
At 31 December 2022 997
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 46,843
Additions 12,592
Disposals (42)
At 31 December 2023 59,393
Depreciation
At 1 January 2023 23,962
Charge for the year 8,860
On disposals (11)
At 31 December 2023 32,811
Net book value
At 31 December 2023 26,582
At 31 December 2022 22,881
5 Debtors 2023 2022
£ £
Trade debtors 57,211 66,117
Other debtors 3,543 178
60,754 66,295
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 2
Trade creditors - 2,310
Taxation and social security costs 10,621 27,299
Other creditors 29,056 33,846
39,677 63,457
7 Related party transactions
At the period end, the company owed £26,086 (2022: £30,289) to Mr Adam Kesacoff, Director. The loan is charged at 5% interest and is repayable on demand.
8 Controlling party
The company is ultimately controlled by Mr Adam Kesacoff, director, who owns 100% of the issued share capital.
9 Other information
The Aussie Smoker Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Tre-Ru House
The Leats
Truro
Cornwall
TR1 3AG
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