Registered number
13350356
VEGAN STING LTD
Filleted Accounts
31 October 2023
VEGAN STING LTD
Registered number: 13350356
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 8,805 9,783
Tangible assets 4 23,067 26,634
31,872 36,417
Current assets
Cash at bank and in hand 681 1,579
Creditors: amounts falling due within one year 5 (14,759) (42,898)
Net current liabilities (14,078) (41,319)
Total assets less current liabilities 17,794 (4,902)
Creditors: amounts falling due after more than one year 6 (5,000) -
Net assets/(liabilities) 12,794 (4,902)
Capital and reserves
Called up share capital 1 1
Profit and loss account 12,793 (4,903)
Shareholder's funds 12,794 (4,902)
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.
Gurvinder Singh
Director
Approved by the board on 30 July 2024
VEGAN STING 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).
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 15 % Reducing balance
Fittings & Fixtures 15 % Reducing balance
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.
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.
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 3 2
3 Intangible fixed assets £
Goodwill
Cost
At 1 November 2022 9,783
At 31 October 2023 9,783
Amortisation
Provided during the year 978
At 31 October 2023 978
Net book value
At 31 October 2023 8,805
At 31 October 2022 9,783
4 Tangible fixed assets
Plant and machinery Fittings & Fixtures Total
£ £ £
Cost
At 1 November 2022 19,093 12,241 31,334
Additions 504 - 504
At 31 October 2023 19,597 12,241 31,838
Depreciation
At 1 November 2022 2,864 1,836 4,700
Charge for the year 2,510 1,561 4,071
At 31 October 2023 5,374 3,397 8,771
Net book value
At 31 October 2023 14,223 8,844 23,067
At 31 October 2022 16,229 10,405 26,634
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 827 -
Other creditors 13,932 42,898
14,759 42,898
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 5,000 -
7 Other information
VEGAN STING LTD is a private company limited by shares and incorporated in England. Its registered office is:
4 Varley Street
Manchester
United Kingdom
M40 8BW
7 Related party transactions
During the year director provided an unsecured loan to company for £ 13,932 [ Year 2022: 42,898].No interest is charged on the balance. At the balance sheet date, the loan is still outstanding.
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