COMPANY REGISTRATION NUMBER:
14869876
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 May 2024
Fixed assets
Current assets
Debtors |
6 |
5,430 |
|
Cash at bank and in hand |
8,390 |
|
|
-------- |
|
|
13,820 |
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
58,324) |
|
|
-------- |
|
Net current liabilities |
|
(
44,504) |
|
|
-------- |
Total assets less current liabilities |
|
(
42,206) |
|
|
-------- |
Net liabilities |
|
(
42,206) |
|
|
-------- |
|
|
|
|
Capital and reserves
Called up share capital |
|
100 |
Share premium account |
|
149,980 |
Profit and loss account |
|
(
192,286) |
|
|
--------- |
Shareholders deficit |
|
(
42,206) |
|
|
--------- |
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 May 2024
These financial statements were approved by the
board of directors
and authorised for issue on
23 August 2024
, and are signed on behalf of the board by:
Company registration number:
14869876
Notes to the Financial Statements |
|
Period from 15 May 2023 to 31 May 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 14 Berryhill Gardens, London, SE9 1QR.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company made a loss of £192,286 and had net liabilities of £42,206 at the period end. The director considers that the going concern basis is still applicable for the preparation of the financial statements due to ongoing support from the lenders. The company expects to generate revenue within 12 months of the reporting date.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% straight line |
|
|
|
|
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 15 May 2023 |
– |
Additions |
2,641 |
|
------- |
At 31 May 2024 |
2,641 |
|
------- |
Depreciation |
|
At 15 May 2023 |
– |
Charge for the period |
343 |
|
------- |
At 31 May 2024 |
343 |
|
------- |
Carrying amount |
|
At 31 May 2024 |
2,298 |
|
------- |
|
|
6.
Debtors
|
31 May 24 |
|
£ |
Other debtors |
5,430 |
|
------- |
|
|
7.
Creditors:
amounts falling due within one year
|
31 May 24 |
|
£ |
Trade creditors |
3,267 |
Social security and other taxes |
3,557 |
Other creditors |
51,500 |
|
-------- |
|
58,324 |
|
-------- |
|
|
8.
Transactions with director
The company was under the control of the director,
Mrs L Horsman
, throughout the current period.