Registered number
08987565
Are You Owed Money Limited
Filleted Accounts
27 April 2023
Are You Owed Money Limited
Registered number: 08987565
Balance Sheet
as at 27 April 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 433,317 337,175
Tangible assets 4 4,243 229
437,560 337,404
Current assets
Stocks 1,180,579 756,734
Debtors 5 15,226 12,440
Cash at bank and in hand 12,108 60,117
1,207,913 829,291
Creditors: amounts falling due within one year 6 (1,518,524) (1,045,282)
Net current liabilities (310,611) (215,991)
Total assets less current liabilities 126,949 121,413
Creditors: amounts falling due after more than one year 7 (105,059) (104,275)
Net assets 21,890 17,138
Capital and reserves
Called up share capital 1 1
Profit and loss account 21,889 17,137
Shareholders' funds 21,890 17,138
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.
Mr R Logan
Director
Approved by the board on 24 April 2024
Are You Owed Money Limited
Notes to the Accounts
for the year ended 27 April 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.
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 over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 32 34
3 Intangible fixed assets £
Goodwill Other Intangible
Cost
At 28 April 2022 100,000 337,338
Additions - 138,177
At 27 April 2023 100,000 475,515
Amortisation
At 28 April 2022 80,000 20,163
Provided during the year 20,000 22,035
At 27 April 2023 100,000 42,198
Net book value
At 27 April 2023 - 433,317
At 27 April 2022 20,000 317,175
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
Other intangible assets are being written off on a reducing balance basis over their estimated economic useful life.
4 Tangible fixed assets
Plant and machinery etc Other fixed assets Total
£ £ £
Cost
At 28 April 2022 11,563 - 11,563
Additions - 4,243 4,243
At 27 April 2023 11,563 4,243 15,806
Depreciation
At 28 April 2022 11,334 - 11,334
Charge for the year 229 - 229
At 27 April 2023 11,563 - 11,563
Net book value
At 27 April 2023 - 4,243 4,243
At 27 April 2022 229 - 229
5 Debtors 2023 2022
£ £
Trade debtors 15,226 12,440
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,556 5,556
Trade creditors 132,217 75,253
Taxation and social security costs 92,460 213,333
Other creditors 1,288,291 751,140
1,518,524 1,045,282
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 36,962 42,646
Other creditors 68,097 61,629
105,059 104,275
8 Other information
Are You Owed Money Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 4a, Edward Vii Quay
Navigation Way
Preston
Lancs
PR2 2YF
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