Registered number
08267618
This Side Up Ltd
Filleted Accounts
31 October 2023
This Side Up Ltd
Registered number: 08267618
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 6,940 6,915
Cash at bank and in hand 10 1,125
6,950 8,040
Creditors: amounts falling due within one year 4 (12,367) (12,840)
Net current liabilities (5,417) (4,800)
Total assets less current liabilities (5,417) (4,800)
Creditors: amounts falling due after more than one year 5 (8,832) (13,631)
Net liabilities (14,249) (18,431)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (15,249) (19,431)
Shareholder's funds (14,249) (18,431)
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.
Jaroslaw Pohnke
Director
Approved by the board on 30 July 2024
This Side Up 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.
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 recognised at transaction price including any transaction costs.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax 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 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2023 2022
£ £
Other debtors 6,940 6,915
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,000 5,000
Trade creditors 1,980 900
Taxation and social security costs 5,387 6,940
12,367 12,840
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 8,832 13,631
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Jaroslaw Pohnke
2.25% loan taken between July - October 2020 6,915 3,665 (3,640) 6,940
6,915 3,665 (3,640) 6,940
7 Other information
This Side Up Ltd is a private company limited by shares and incorporated in England. Its registered office is:
183 Victoria Road
Mitcham
CR4 3JD
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