Registered number
12942668
SKR (MIDLANDS) LTD
Filleted Accounts
31 October 2023
SKR (MIDLANDS) LTD
Registered number: 12942668
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 77,000 77,000
Tangible assets 4 4,852 5,708
81,852 82,708
Current assets
Stocks 4,721 6,262
Debtors 5 5,250 5,250
Cash at bank and in hand 5,290 6,388
15,261 17,900
Creditors: amounts falling due within one year 6 (75,457) (85,106)
Net current liabilities (60,196) (67,206)
Net assets 21,656 15,502
Capital and reserves
Called up share capital 100 100
Profit and loss account 21,556 15,402
Shareholders' funds 21,656 15,502
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 members have 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.
Mrs Kawaljit Kaur Chohan
Director
Approved by the board on 31 July 2024
SKR (MIDLANDS) 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
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 77,000
At 31 October 2023 77,000
Amortisation
At 31 October 2023 -
Net book value
At 31 October 2023 77,000
At 31 October 2022 77,000
Goodwill is not being written off.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 7,900
At 31 October 2023 7,900
Depreciation
At 1 November 2022 2,192
Charge for the year 856
At 31 October 2023 3,048
Net book value
At 31 October 2023 4,852
At 31 October 2022 5,708
5 Debtors 2023 2022
£ £
Other debtors 5,250 5,250
6 Creditors: amounts falling due within one year 2023 2022
£ £
Director loan 32,000 12,000
Taxation and social security costs 8,457 8,106
Other creditors 35,000 65,000
75,457 85,106
7 Other information
SKR (MIDLANDS) LTD is a private company limited by shares and incorporated in England. Its registered office is:
203 Birchfield Road
Aston
Birmingham
B19 1LL
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