Registered number
10760963
Seed Fashion and Beauty Incubator Ltd
B5, 28 Guildhouse Street
London
Filleted Accounts
for the year ended 30 November 2023
Prepared by :
Yousaf & Co Ltd
Chartered Certified Accountants
298-300 Maxwell Road
Glasgow
G41 1PJ
Ref: L048/TG
Seed Fashion and Beauty Incubator Ltd
Registered number: 10760963
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£
Fixed assets
Tangible assets 3 645 716
Current assets
Debtors 4 1,066 594
Cash at bank and in hand 20,125 34,596
21,191 35,190
Creditors: amounts falling due within one year 5 (576) (960)
Net current assets 20,615 34,230
Total assets less current liabilities 21,260 34,946
Creditors: amounts falling due after more than one year 6 (52,492) (51,082)
Net assets/(liabilities) (31,232) (16,136)
Capital and reserves
Called up share capital 1 1
Profit and loss account (31,233) (16,137)
Shareholders' funds (31,232) (16,136)
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.
Miss Nabila Riaz
Director
Approved by the board on 22 July 2024
Seed Fashion and Beauty Incubator Ltd
Notes to the Accounts
for the year ended 30 November 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).
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:
Fixtures, fittings, tools and equipment 10% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price).
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 December 2022 885
At 30 November 2023 885
Depreciation
At 1 December 2022 169
Charge for the year 71
At 30 November 2023 240
Net book value
At 30 November 2023 645
At 30 November 2022 716
4 Debtors 2023 2022
£ £
Other debtors 1,066 594
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 576 960
6 Creditors: amounts falling due after one year 2023 2022
£ £
Director's Loan Account 9,468 8,058
Bounce Back Loan 43,024 43,024
52,492 51,082
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