REGISTERED NUMBER: |
Financial Statements |
for the Period 31 May 2022 to 28 May 2023 |
for |
CORALSWEEP LIMITED |
REGISTERED NUMBER: |
Financial Statements |
for the Period 31 May 2022 to 28 May 2023 |
for |
CORALSWEEP LIMITED |
CORALSWEEP LIMITED (REGISTERED NUMBER: SC202005) |
Contents of the Financial Statements |
for the Period 31 May 2022 to 28 May 2023 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
CORALSWEEP LIMITED |
Company Information |
for the Period 31 May 2022 to 28 May 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
13 Glasgow Road |
Paisley |
Renfrewshire |
PA1 3QS |
CORALSWEEP LIMITED (REGISTERED NUMBER: SC202005) |
Abridged Balance Sheet |
28 May 2023 |
2023 | 2022 |
Notes | £ | £ |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 5 |
Retained earnings | 6 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CORALSWEEP LIMITED (REGISTERED NUMBER: SC202005) |
Notes to the Financial Statements |
for the Period 31 May 2022 to 28 May 2023 |
1. | STATUTORY INFORMATION |
Coralsweep Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements have been prepared on a going concern basis which despite the company reporting a loss for the year and having liabilities in excess of assets at the balance sheet date the position is fully supported by a director's loan account. The director has indicated he will continue to support the company for the foreseeable future and the company will continue to have sufficient funds to meet it's liabilities when they fall due. On this basis the director believes it is appropriate to present the financial statement on a going concern basis. |
Turnover |
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
CORALSWEEP LIMITED (REGISTERED NUMBER: SC202005) |
Notes to the Financial Statements - continued |
for the Period 31 May 2022 to 28 May 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 31 May 2022 |
and 28 May 2023 |
DEPRECIATION |
At 31 May 2022 |
and 28 May 2023 |
NET BOOK VALUE |
At 28 May 2023 |
At 30 May 2022 |
5. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 60,000 | 60,000 |
6. | RESERVES |
Retained |
earnings |
£ |
At 31 May 2022 | ( |
) |
Deficit for the period | ( |
) |
At 28 May 2023 | ( |
) |
7. | RELATED PARTY DISCLOSURES |
The loan from the director, Mr G F Murray of £55,804 (2022: £52,135) is interest free and has no fixed repayment date. |