Registered number
09953360
Tribe517 Ltd
Filleted Accounts
31 January 2024
Tribe517 Ltd
Registered number: 09953360
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 3 5,489 6,861
Current assets
Stocks 7,500 7,500
Debtors 4 18,305 14,035
Cash at bank and in hand 7,678 2,869
33,483 24,404
Creditors: amounts falling due within one year 5 (10,253) (11,271)
Net current assets 23,230 13,133
Net assets 28,719 19,994
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,619 19,894
Shareholders' funds 28,719 19,994
The director is 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 director acknowledges her 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 and delivered 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.
Ms C Davies
Director
Approved by the board on 6 September 2024
Tribe517 Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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.
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:
Fixtures, fittings, tools and equipment 20% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice 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 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 9,760
At 31 January 2024 9,760
Depreciation
At 1 February 2023 2,899
Charge for the year 1,372
At 31 January 2024 4,271
Net book value
At 31 January 2024 5,489
At 31 January 2023 6,861
4 Debtors 2024 2023
£ £
Trade debtors 9,060 10,446
Other debtors 9,245 3,589
18,305 14,035
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,923 3,178
Trade creditors - 1,382
Taxation and social security costs 3,762 3,143
Other creditors 3,568 3,568
10,253 11,271
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
C Davies
Directors loan 3,589 - 2,744 6,333
3,589 - 2,744 6,333
7 Controlling party
There is no controlling party.
8 Other information
Tribe517 Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Beddau Farm
St Cenydd Road
Caerphilly
CF83 2TB
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