Registered number
SC763236
L DENOVAN LTD
Unaudited Filleted Accounts
31 March 2024
L DENOVAN LTD
Registered number: SC763236
Balance Sheet
as at 31 March 2024
Notes 2024
£
Fixed assets
Tangible assets 3 437
Current assets
Debtors 4 3,730
Cash at bank and in hand 1,722
5,452
Creditors: amounts falling due within one year 5 (15,071)
Net current liabilities (9,619)
Net liabilities (9,182)
Capital and reserves
Called up share capital 10
Profit and loss account (9,192)
Shareholder's funds (9,182)
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 her 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.
Louise Denovan
Director
Approved by the board on 27 July 2024
L DENOVAN LTD
Notes to the Accounts
for the period from 22 March 2023 to 31 March 2024
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.
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:
Office Equipment over 2 years
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 2024
Number
Average number of persons employed by the company 1
3 Tangible fixed assets
Office Equipment
£
Cost
Additions 594
At 31 March 2024 594
Depreciation
Charge for the period 157
At 31 March 2024 157
Net book value
At 31 March 2024 437
4 Debtors 2024
£
Accrued Income 1,200
Deferred Tax 2,168
Prepayments 362
3,730
5 Creditors: amounts falling due within one year 2024
£
Deferred Income 851
CT61 Tax Payable 181
Trade Creditors 110
Director's Loan Account 12,727
PAYE/NIC Payable 479
Accruals 723
15,071
6 Related party transactions
At the period end the director, Louise Denovan, was owed £12,727 by the company. This balance includes interest of £903, at a rate of 10%, charged to the company on the outstanding balance owed to the director, and expensed to the profit and loss in the period. There is no fixed term of repayment for this loan.
7 Other information
L DENOVAN LTD is a private company limited by shares and incorporated in Scotland. Its registered office is:
Strawberry Fields
Avonbridge
Falkirk
Scotland
FK1 2HL
L DENOVAN LTD SC763236 false 2023-03-22 2024-03-31 2024-03-31 VT Final Accounts April 2024 Louise Denovan No description of principal activity SC763236 2023-03-22 2024-03-31 SC763236 bus:PrivateLimitedCompanyLtd 2023-03-22 2024-03-31 SC763236 bus:AuditExemptWithAccountantsReport 2023-03-22 2024-03-31 SC763236 bus:Director40 2023-03-22 2024-03-31 SC763236 1 2023-03-22 2024-03-31 SC763236 2 2023-03-22 2024-03-31 SC763236 countries:England 2023-03-22 2024-03-31 SC763236 bus:FRS102 2023-03-22 2024-03-31 SC763236 bus:FilletedAccounts 2023-03-22 2024-03-31 SC763236 2024-03-31 SC763236 core:WithinOneYear 2024-03-31 SC763236 core:ShareCapital 2024-03-31 SC763236 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC763236 2023-03-21 iso4217:GBP xbrli:pure