Registered number
02867434
Larkswood Stationers Limited
Unaudited Filleted Accounts
31 October 2023
Larkswood Stationers Limited
Registered number: 02867434
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,345 4,181
Current assets
Stocks 7,927 -
Debtors 4 180,104 199,207
Cash at bank and in hand 87,052 39,294
275,083 238,501
Creditors: amounts falling due within one year 5 (261,535) (215,714)
Net current assets 13,548 22,787
Total assets less current liabilities 16,893 26,968
Creditors: amounts falling due after more than one year 6 (16,667) (26,667)
Net assets 226 301
Capital and reserves
Called up share capital 102 102
Profit and loss account 124 199
Shareholder's funds 226 301
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 member has 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.
S Kitsberg
Director
Approved by the board on 30 July 2024
Larkswood Stationers Limited
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.
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 20% 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.
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 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 10,562
At 31 October 2023 10,562
Depreciation
At 1 November 2022 6,381
Charge for the year 836
At 31 October 2023 7,217
Net book value
At 31 October 2023 3,345
At 31 October 2022 4,181
4 Debtors 2023 2022
£ £
Trade debtors 80,401 99,658
Other debtors 99,703 99,549
180,104 199,207
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 221,745 192,469
Taxation and social security costs 27,789 11,109
Other creditors 2,001 2,136
261,535 215,714
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,667 26,667
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
A Kitsberg 91,474 59,514 (91,775) 59,213
S Kitsberg (36) 62,444 (21,918) 40,490
N Sion 7,071 50,993 (58,068) (4)
98,509 172,951 (171,761) 99,699
8 Other information
Larkswood Stationers Limited is a private company limited by shares and incorporated in England. Its registered office is:
142 Station Road
Chingford
London
E4 6AN
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