Registered number
08254890
Autumn Street Ltd
Unaudited Filleted Accounts
31 October 2023
Autumn Street Ltd
Registered number: 08254890
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Current assets
Debtors 2 55,640 60,294
Cash at bank and in hand 743 1,693
56,383 61,987
Creditors: amounts falling due within one year 3 (26,104) (39,347)
Net current assets 30,279 22,640
Total assets less current liabilities 30,279 22,640
Creditors: amounts falling due after more than one year 4 (87,687) (69,806)
Net liabilities (57,408) (47,166)
Capital and reserves
Called up share capital 100 100
Profit and loss account (57,508) (47,266)
Shareholders' funds (57,408) (47,166)
Average number of employees - -
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 A Benson
Director
Approved by the board on 22 July 2024
Autumn Street Ltd
Notes to the Accounts
for the year ended 31 October 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).
The company is insolvent but continues to trade with the support of it's directors
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 5 years
Fixtures, fittings, tools and equipment over 5 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.
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 Debtors 2023 2022
£ £
Other debtors 55,640 60,294
3 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,992 16,752
Trade creditors - 4,760
Other taxes and social security costs 17,537 16,664
Other creditors 575 1,171
26,104 39,347
4 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 37,437 39,806
Other creditors 50,250 30,000
87,687 69,806
5 Related party transactions
Other debtors represents an amount due from HB events Ltd and Carrington Cleary Ltd, companies owned and managed by the directors.
Loans greater than one year includes an amount of £50,250 due to Bloc holdings a partnership owned and managed by the directors
6 Controlling party
The Ultimate controlling party is Mr A Benson and Mr G Hull by virtue of their 100% share holdings
7 Other information
Autumn Street Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Glaven Farm Barn
Thorange Road
Letheringsett
NR25 7JE
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