Stirling Personal Development Ltd
Registered number: 13272870
Statement of Financial Position
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,995 7,995
Tangible assets 4 371 495
7,366 8,490
Current assets
Cash at bank and in hand 14 423
Creditors: amounts falling due within one year 5 (29,178) (26,069)
Net current liabilities (29,164) (25,646)
Net liabilities (21,798) (17,156)
Capital and reserves
Called up share capital 2 2
Profit and loss account (21,800) (17,158)
Shareholders' funds (21,798) (17,156)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
C Cromwell
Director
Approved by the board on 3 September 2024
Stirling Personal Development Ltd
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Creditors
Short term creditors are measured at transaction 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.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 2 2
3 Intangible fixed assets £
Franchise fee
Cost
At 1 April 2023 9,995
At 31 March 2024 9,995
Amortisation
At 1 April 2023 2,000
Provided during the year 1,000
At 31 March 2024 3,000
Net book value
At 31 March 2024 6,995
At 31 March 2023 7,995
The franchise fee is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 880
At 31 March 2024 880
Depreciation
At 1 April 2023 385
Charge for the year 124
At 31 March 2024 509
Net book value
At 31 March 2024 371
At 31 March 2023 495
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 40
Accruals 1,002 1,002
Other creditors 28,176 25,027
29,178 26,069
6 Other information
Stirling Personal Development Ltd is a private company limited by shares and incorporated in England. Its registered office is:
30 The Maultway
Camberley
Surrey
GU15 1PS
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