Company Registration No. 09042939 (England and Wales)
Stitch Effect (UK) Limited
Unaudited accounts
for the year ended 31 May 2024
Stitch Effect (UK) Limited
Unaudited accounts
Contents
Stitch Effect (UK) Limited
Company Information
for the year ended 31 May 2024
Directors
Riyazmahammed Saeedahmed Patel
Sumaiyya Daudbhai Bachcha
Company Number
09042939 (England and Wales)
Registered Office
1 Worcester Street
Bolton
BL1 3NH
England
Accountants
SMART ACCOUNTING (NW) LTD
239 RIBBLETON LANE
PRESTON
PR1 5EA
Stitch Effect (UK) Limited
Statement of financial position
as at 31 May 2024
Tangible assets
18,391
22,428
Cash at bank and in hand
22,439
3,537
Creditors: amounts falling due within one year
(22,464)
(13,770)
Net current assets
27,825
20,868
Total assets less current liabilities
46,216
43,296
Creditors: amounts falling due after more than one year
(50,554)
(51,244)
Net liabilities
(4,338)
(7,948)
Called up share capital
20
20
Profit and loss account
(4,358)
(7,968)
Shareholders' funds
(4,338)
(7,948)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2024 and were signed on its behalf by
Riyazmahammed Saeedahmed Patel
Director
Company Registration No. 09042939
Stitch Effect (UK) Limited
Notes to the Accounts
for the year ended 31 May 2024
Stitch Effect (UK) Limited is a private company, limited by shares, registered in England and Wales, registration number 09042939. The registered office is 1 Worcester Street, Bolton, BL1 3NH , England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% on Written Down Method
Computer equipment
20% on Written Down Method
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 June 2023
58,724
2,627
61,351
At 31 May 2024
58,724
2,627
61,351
At 1 June 2023
36,886
2,037
38,923
Charge for the year
3,931
106
4,037
At 31 May 2024
40,817
2,143
42,960
At 31 May 2024
17,907
484
18,391
At 31 May 2023
21,838
590
22,428
Stitch Effect (UK) Limited
Notes to the Accounts
for the year ended 31 May 2024
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
12,286
12,286
Taxes and social security
2,036
(83)
7
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
50,554
51,244
Allotted, called up and fully paid:
20 Ordinary shares of £1 each
20
20
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).