Company Registration No. 07711439 (England and Wales)
Secondbyte Micros Ltd
Unaudited accounts
for the year ended 31 August 2023
Secondbyte Micros Ltd
Unaudited accounts
Contents
Secondbyte Micros Ltd
Company Information
for the year ended 31 August 2023
Company Number
07711439 (England and Wales)
Registered Office
391 DURNSFORD ROAD
DURNSFORD ROAD
LONDON
SW19 8EE
ENGLAND
Secondbyte Micros Ltd
Statement of financial position
as at 31 August 2023
Tangible assets
14,331
6,893
Cash at bank and in hand
79,696
89,992
Creditors: amounts falling due within one year
(61,284)
(46,269)
Net current assets
34,892
52,733
Total assets less current liabilities
49,223
59,626
Creditors: amounts falling due after more than one year
(46,339)
(47,823)
Called up share capital
1
1
Profit and loss account
2,883
11,802
Shareholders' funds
2,884
11,803
For the year ending 31 August 2023 the company 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 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 August 2024 and were signed on its behalf by
Russell Lucas
Director
Company Registration No. 07711439
Secondbyte Micros Ltd
Notes to the Accounts
for the year ended 31 August 2023
Secondbyte Micros Ltd is a private company, limited by shares, registered in England and Wales, registration number 07711439. The registered office is 391 DURNSFORD ROAD, DURNSFORD ROAD, LONDON, SW19 8EE, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 August 2023 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 September 2021.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% - Reducing Balance
Motor vehicles
18% - Reducing Balance
Fixtures & fittings
18% - Reducing Balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Secondbyte Micros Ltd
Notes to the Accounts
for the year ended 31 August 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2022
458
16,810
4,345
21,613
At 31 August 2023
458
16,810
13,095
30,363
At 1 September 2022
294
11,692
2,734
14,720
Charge for the year
30
921
361
1,312
At 31 August 2023
324
12,613
3,095
16,032
At 31 August 2023
134
4,197
10,000
14,331
At 31 August 2022
164
5,118
1,611
6,893
Finished goods
7,840
9,010
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
36,463
40,301
Trade creditors
27,767
30,412
Taxes and social security
29,157
39,974
Proposed dividends
(32,500)
-
Loans from directors
45
(66,357)
8
Creditors: amounts falling due after more than one year
2023
2022
Secondbyte Micros Ltd
Notes to the Accounts
for the year ended 31 August 2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
10
Transactions with related parties
The company is controlled by Mr. Russell Lucas, the company's Managing Director. It is confirmed that director's current account is debited with personal transactions and credited with remuneration as well as dividends.
11
Average number of employees
During the year the average number of employees was 3 (2022: 3).