Company Registration No. 14517681 (England and Wales)
Clock Lounge Ltd
Unaudited accounts
for the period from 1 December 2022 to 31 December 2023
Clock Lounge Ltd
Unaudited accounts
Contents
Clock Lounge Ltd
Company Information
for the period from 1 December 2022 to 31 December 2023
Company Number
14517681 (England and Wales)
Registered Office
379 Holloway Road
London
N7 0RN
United Kingdom
Accountants
Capital Talks LLP
Accountants & Tax consultants
310D - EW Sterling House
Langston Road
Loughton
IG10 3TS
Clock Lounge Ltd
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
7,133
Creditors: amounts falling due within one year
(23,872)
Total assets less current liabilities
112,605
Creditors: amounts falling due after more than one year
(202,500)
Called up share capital
100
Profit and loss account
(89,995)
Shareholders' funds
(89,895)
For the period ending 31 December 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 30 August 2024 and were signed on its behalf by
Albert Brati
Director
Company Registration No. 14517681
Clock Lounge Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 December 2023
Clock Lounge Ltd is a private company, limited by shares, registered in England and Wales, registration number 14517681. The registered office is 379 Holloway Road, London, N7 0RN, United Kingdom.
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.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
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.
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
20% on cost.
Fixtures & fittings
15% on cost.
Computer equipment
33% on cost.
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.
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Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
-
-
-
-
Additions
27,200
75,074
7,499
109,773
At 31 December 2023
27,200
75,074
7,499
109,773
Charge for the period
907
1,835
412
3,154
At 31 December 2023
907
1,835
412
3,154
At 31 December 2023
26,293
73,239
7,087
106,619
Clock Lounge Ltd
Notes to the Accounts
for the period from 1 December 2022 to 31 December 2023
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
Loans from directors
20,527
7
Creditors: amounts falling due after more than one year
2023
Loans from directors
180,000
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
At 31 December 2023 the company owed £200,527.01/- to director as a result of loans made to the company. The loans are unsecured and interest free.
The director A. Brati controls the company as a result of controlling directly 100% of the issued shares capital.
10
Average number of employees
During the period the average number of employees was 3.