Registered number
11692538
Living Shamanically Ltd
Report and Accounts
30 November 2023
Living Shamanically Ltd
Profit and Loss Account
for the year ended 30 November 2023
2023 2022
£ £
Turnover 52,884 74,942
Cost of sales (16,629) (20,162)
Gross profit 36,255 54,780
Administrative expenses (40,008) (46,579)
Operating (loss)/profit (3,753) 8,201
Interest payable (214) (214)
(Loss)/profit before taxation (3,967) 7,987
Tax on (loss)/profit - (1,112)
(Loss)/profit for the financial year (3,967) 6,875
Living Shamanically Ltd
Registered number: 11692538
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 426 848
Current assets
Stocks 4,795 9,495
Cash at bank and in hand 6,991 8,454
11,786 17,949
Creditors: amounts falling due within one year 4 (3,801) (3,157)
Net current assets 7,985 14,792
Total assets less current liabilities 8,411 15,640
Creditors: amounts falling due after more than one year 5 (7,081) (8,343)
Net assets 1,330 7,297
Capital and reserves
Called up share capital 1 1
Profit and loss account 1,329 7,296
Shareholder's funds 1,330 7,297
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.
Rebekah Shaman
Director
Approved by the board on 24 July 2024
Living Shamanically Ltd
Notes to the Accounts
for the year ended 30 November 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.
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 4 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.
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.
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 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 2,638
At 30 November 2023 2,638
Depreciation
At 1 December 2022 1,790
Charge for the year 422
At 30 November 2023 2,212
Net book value
At 30 November 2023 426
At 30 November 2022 848
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 700 138
Trade creditors 1,200 700
Taxation and social security costs 1,185 1,685
Other creditors 716 634
3,801 3,157
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 5,081 6,343
Other creditors 2,000 2,000
7,081 8,343
6 Other information
Living Shamanically Ltd is a private company limited by shares and incorporated in England. Its registered office is:
47 Brailsford Road
Flat 1
London
SW2 2TB
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