RX Locuming Ltd |
Notes to the Accounts |
for the year ended 30 April 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Prepayments |
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162 |
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156 |
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4 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Accruals and deferred income |
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559 |
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513 |
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Taxation and social security costs |
5,079 |
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5,399 |
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Other creditors |
711 |
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3,625 |
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6,349 |
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9,537 |
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5 |
Related party transactions |
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As at 30 April 2024 the balance owed to the director was £711 (2023: £3,625). |
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6 |
Other information |
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RX Locuming Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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43 Wilks Farm Drive |
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Norwich |
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NR7 8RG |