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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
Page
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Secondbyte Micros Ltd Company Information for the year ended 31 August 2023
Director
Russell Lucas
Company Number
07711439 (England and Wales)
Registered Office
391 DURNSFORD ROAD DURNSFORD ROAD LONDON SW19 8EE ENGLAND
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Secondbyte Micros Ltd Statement of financial position as at 31 August 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
14,331 
6,893 
Current assets
Inventories
7,840 
9,010 
Debtors
8,640 
- 
Cash at bank and in hand
79,696 
89,992 
96,176 
99,002 
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)
Net assets
2,884 
11,803 
Capital and reserves
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
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Secondbyte Micros Ltd Notes to the Accounts for the year ended 31 August 2023
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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
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.
Pension costs
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.
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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 
Additions
- 
- 
8,750 
8,750 
At 31 August 2023
458 
16,810 
13,095 
30,363 
Depreciation
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 
Net book value
At 31 August 2023
134 
4,197 
10,000 
14,331 
At 31 August 2022
164 
5,118 
1,611 
6,893 
5
Inventories
2023 
2022 
£ 
£ 
Finished goods
7,840 
9,010 
7,840 
9,010 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
8,640 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
36,463 
40,301 
VAT
(1,648)
(1,937)
Trade creditors
27,767 
30,412 
Taxes and social security
29,157 
39,974 
Proposed dividends
(32,500)
- 
Other creditors
- 
266 
Loans from directors
45 
(66,357)
Accruals
2,000 
3,610 
61,284 
46,269 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
46,339 
47,823 
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Secondbyte Micros Ltd Notes to the Accounts for the year ended 31 August 2023
9
Share capital
2023 
2022 
£ 
£ 
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).
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