Registered number
08219702
Devon School of Yoga Ltd
Filleted Accounts
30 September 2023
Devon School of Yoga Ltd
Registered number: 08219702
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 360 480
Current assets
Debtors 5 211 2,043
Cash at bank and in hand 27,986 24,273
28,197 26,316
Creditors: amounts falling due within one year 6 (55,726) (42,179)
Net current liabilities (27,529) (15,863)
Total assets less current liabilities (27,169) (15,383)
Creditors: amounts falling due after more than one year 7 (2,003) (3,167)
Net liabilities (29,172) (18,550)
Capital and reserves
Called up share capital 100 100
Profit and loss account (29,272) (18,650)
Shareholder's funds (29,172) (18,550)
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.
Duncan Hulin
Director
Approved by the board on 22 March 2024
Devon School of Yoga Ltd
Notes to the Accounts
for the year ended 30 September 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).
Going concern
The accounts have been prepared by the director on a going concern basis, despite company having an excess of liabilities over total assets at 30th September 2023 amounting to £29172 (2022 £18550). The director will continue to provide the company with whatever finiancial support may be necessary to enable the company to meet its liabiities and committments as they fall due. The director is confident that the company will trade out of its current difficulties in future years.
Government grants
Government grants are recognised in accordance with the accrual model set out in FRS102.
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
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2022 33,000
At 30 September 2023 33,000
Amortisation
At 1 October 2022 33,000
At 30 September 2023 33,000
Net book value
At 30 September 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2022 2,171
At 30 September 2023 2,171
Depreciation
At 1 October 2022 1,691
Charge for the year 120
At 30 September 2023 1,811
Net book value
At 30 September 2023 360
At 30 September 2022 480
5 Debtors 2023 2022
£ £
Other debtors 211 2,043
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 1,080 1,000
Trade creditors 54,429 41,178
Taxation and social security costs - 1
Other creditors 217 -
55,726 42,179
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 2,003 3,167
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Duncan Hulin
Director's current account 1,661 4,043 (5,921) (217)
1,661 4,043 (5,921) (217)
9 Controlling party
The company is under the control of Mr Duncan Hulin, the sole director and shareholder.
10 Other information
Devon School of Yoga Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5a Bath Place
Taunton
Somerset
TA1 4ER
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