- The company is a private company limited by shares and registered in England and Wales. It 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 Director acknowledges 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 in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Average number of employees
The average number of persons employed by the company in the period was 4 (previous period: 6).
Directors advances, credits and guarantees
Included within Debtors are the following loans to directors:
Tim Warner
£
As at 1 April 2023: (2,141)
Amounts advanced: 5,149
Amounts repaid: (162)
Amounts written off : 0
As at 31 March 2024: 2,846
Jevon Payne
£
As at 1 April 2023: 2,500
Amounts advanced: 3,059
Amounts repaid: (1,500)
Amounts written off : 0
As at 31 March 2024: 4,059
The above loans are unsecured, interest free and repayable on demand.
Capital Commitments
The Company has taken out a loan of £131,000 (20/12/23), secured by a fixed charge over the property at 17-19 High Market, Northumberland. The loan is repayable to MS Lending Group by 20/12/24 with an interest rate of 1.25% per month. The outstanding balance as of the balance sheet date is £131,000, recorded within current liabilities.
Additional Disclosures
Prior year balance sheet accounts have been restated.