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Registered number: 07546886
Posh Muts Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
North East Accountancy Solutions Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 07546886
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 8,500 8,500
8,500 8,500
CURRENT ASSETS
Debtors 5 16,174 27,766
Cash at bank and in hand 2,070 261
18,244 28,027
Creditors: Amounts Falling Due Within One Year 6 (10,639 ) (10,528 )
NET CURRENT ASSETS (LIABILITIES) 7,605 17,499
TOTAL ASSETS LESS CURRENT LIABILITIES 16,105 25,999
Creditors: Amounts Falling Due After More Than One Year 7 (15,883 ) (27,500 )
NET ASSETS/(LIABILITIES) 222 (1,501 )
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 221 (1,502 )
SHAREHOLDERS' FUNDS 222 (1,501)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Andrew Burns
Director
19/08/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Posh Muts Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07546886 . The registered office is Tower Buildings, 9 Oldgate, Morpeth, Northumberland, NE61 1PY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold N/A
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Freehold
£
Cost
As at 1 April 2023 8,500
As at 31 March 2024 8,500
Net Book Value
As at 31 March 2024 8,500
As at 1 April 2023 8,500
5. Debtors
2024 2023
£ £
Due within one year
Director's loan account 1,348 -
Amounts owed by other participating interests 14,826 27,766
16,174 27,766
Page 3
Page 4
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Corporation tax 51 -
Accruals and deferred income 588 528
10,639 10,528
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 15,883 27,500
15,883 27,500
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
Page 4