COMPANY REGISTRATION NUMBER:
08638117
Filleted Unaudited Financial Statements |
|
Statement of Financial Position |
|
31 August 2023
Current assets
Cash at bank and in hand |
618 |
|
260 |
|
|
|
|
Creditors: amounts falling due within one year |
5 |
16,976 |
|
5,741 |
|
-------- |
|
------- |
Net current liabilities |
|
16,358 |
5,481 |
|
|
-------- |
------- |
Total assets less current liabilities |
|
(
16,358) |
(
5,481) |
|
|
-------- |
------- |
Net liabilities |
|
(
16,358) |
(
5,481) |
|
|
-------- |
------- |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
10 |
10 |
Profit and loss account |
|
(
16,368) |
(
5,491) |
|
|
-------- |
------- |
Shareholders deficit |
|
(
16,358) |
(
5,481) |
|
|
-------- |
------- |
|
|
|
|
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 income and retained earnings has not been delivered.
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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
30 August 2024
, and are signed on behalf of the board by:
Company registration number:
08638117
Notes to the Financial Statements |
|
Year ended 31 August 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 Westfield Park, Redland, Bristol, BS6 6LT.
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 going concern basis has been adopted due to the continuing financial support of the director. Loans to the director are included in Other creditors. Whilst technically repayable on demand repayment of loans have been postponed until funds permit.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
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 year amounted to
8
(2022:
8
).
5.
Creditors:
amounts falling due within one year
|
2023 |
2022 |
|
£ |
£ |
Trade creditors |
7,376 |
625 |
Social security and other taxes |
2,415 |
272 |
Other creditors |
7,185 |
4,844 |
|
-------- |
------- |
|
16,976 |
5,741 |
|
-------- |
------- |
|
|
|
6.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
|
2023 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Miss E Clarke |
(
3,871) |
(
2,630) |
(
6,501) |
|
|
------- |
------- |
------- |
|
|
|
|
|
|
2022 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Miss E Clarke |
(
5,587) |
1,716 |
(
3,871) |
|
|
------- |
------- |
------- |
|
|
|
|
|
7.
Related party transactions
The company was under the control of
Miss E Clarke
throughout the current and previous year. Miss E Clarke
is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.