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No description of principal activity
2022-11-07
Sage Accounts Production Advanced 2023 - FRS102_2023
1,778
1,778
445
445
1,333
xbrli:pure
xbrli:shares
iso4217:GBP
14468647
2022-11-07
2023-12-31
14468647
2023-12-31
14468647
2022-11-06
14468647
bus:Director2
2022-11-07
2023-12-31
14468647
core:WithinOneYear
2023-12-31
14468647
core:ShareCapital
2023-12-31
14468647
core:RetainedEarningsAccumulatedLosses
2023-12-31
14468647
bus:SmallEntities
2022-11-07
2023-12-31
14468647
bus:AuditExemptWithAccountantsReport
2022-11-07
2023-12-31
14468647
bus:SmallCompaniesRegimeForAccounts
2022-11-07
2023-12-31
14468647
bus:PrivateLimitedCompanyLtd
2022-11-07
2023-12-31
14468647
bus:FullAccounts
2022-11-07
2023-12-31
14468647
core:OfficeEquipment
2022-11-07
2023-12-31
14468647
core:OfficeEquipment
2023-12-31
14468647
core:AllAssociates
2022-11-07
2023-12-31
COMPANY REGISTRATION NUMBER:
14468647
Filleted Unaudited Financial Statements |
|
Period from 7 November 2022 to 31 December 2023
Statement of financial position |
1 |
|
|
Notes to the financial statements |
3 |
|
|
Statement of Financial Position |
|
31 December 2023
Fixed assets
Current assets
Stocks |
51,616 |
Debtors |
6 |
1,258 |
Cash at bank and in hand |
9,219 |
|
-------- |
|
62,093 |
|
|
|
Creditors: amounts falling due within one year |
7 |
104,416 |
|
--------- |
Net current liabilities |
42,323 |
|
-------- |
Total assets less current liabilities |
(
40,990) |
|
|
|
Provisions |
333 |
|
-------- |
Net liabilities |
(
41,323) |
|
-------- |
|
|
Capital and reserves
Called up share capital |
2 |
Profit and loss account |
(
41,325) |
|
-------- |
Shareholders deficit |
(
41,323) |
|
-------- |
|
|
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 comprehensive income has not been delivered.
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.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period 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
.
Statement of Financial Position (continued) |
|
31 December 2023
These financial statements were approved by the
board of directors
and authorised for issue on
9 September 2024
, and are signed on behalf of the board by:
Mrs S A Myerscough |
|
Director |
|
|
|
Company registration number:
14468647
Notes to the Financial Statements |
|
Period from 7 November 2022 to 31 December 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 34 North Row, London, W1K 6DH, England.
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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
After making appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future for at least one year from the date of the financial information. For these reasons they continue to adopt the going concern basis in preparing the company's financial information.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Equipment |
- |
25% straight line |
|
|
|
|
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit endless account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Tangible assets
|
Equipment |
|
£ |
Cost |
|
At 7 November 2022 |
– |
Additions |
1,778 |
|
------- |
At 31 December 2023 |
1,778 |
|
------- |
Depreciation |
|
At 7 November 2022 |
– |
Charge for the period |
445 |
|
------- |
At 31 December 2023 |
445 |
|
------- |
Carrying amount |
|
At 31 December 2023 |
1,333 |
|
------- |
|
|
6.
Debtors
|
31 Dec 23 |
|
£ |
Other debtors |
1,258 |
|
------- |
|
|
7.
Creditors:
amounts falling due within one year
|
31 Dec 23 |
|
£ |
Trade creditors |
8,020 |
Social security and other taxes |
2,921 |
Other creditors |
93,475 |
|
--------- |
|
104,416 |
|
--------- |
|
|
8.
Related party transactions
At the end of the year, the company owed £75,000 to a shareholder.