UNSTABLE OBJECT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 MARCH 2024
Company Registration Number: 14549268
UNSTABLE OBJECT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 7
UNSTABLE OBJECT LTD
COMPANY INFORMATION
FOR THE PERIOD ENDED 31 MARCH 2024
DIRECTORS
T J Etchells
appointed 19 December 2022
V Horvat
appointed 19 December 2022
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Unit 501
The Workstation
15 Paternoster Row
Sheffield
S1 2BX
COMPANY REGISTRATION NUMBER
14549268 England and Wales
UNSTABLE OBJECT LTD
BALANCE SHEET
AS AT 31 MARCH 2024
Notes 2024
£
FIXED ASSETS
Tangible assets 5 794
CURRENT ASSETS
Debtors 6 680
Cash at bank and in hand 102,787
103,467
CREDITORS: Amounts falling due within one year 7 72,631
NET CURRENT ASSETS 30,836
TOTAL ASSETS LESS CURRENT LIABILITIES 31,630
Provisions for liabilities and charges 159
NET ASSETS 31,471
CAPITAL AND RESERVES
Called up share capital 2
Distributable profit and loss account 31,469
SHAREHOLDERS' FUNDS 31,471
UNSTABLE OBJECT LTD
BALANCE SHEET
AS AT 31 MARCH 2024
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
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.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board of directors
T J Etchells V Horvat
Director Director
Date approved by the board: 18 September 2024
UNSTABLE OBJECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
1 GENERAL INFORMATION
Unstable Object Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Unit 501
The Workstation
15 Paternoster Row
Sheffield
S1 2BX
The company incorporated on 19 December 2022 and started to trade on 19 December 2022.
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover is measured at the fair value of consideration received or receivable. It is recognised in respect of artistic creation and publishing services as soon as there is a right to consideration and is determined by reference to the value of the work performed. Turnover is stated net of trade discounts.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Tangible fixed assets
Fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.
Depreciation has been provided at the following rate so as to write off the cost or valuation of assets less residual value of the assets over their estimated useful lives.
Computer equipment Straight line basis at 20% per annum
On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in the profit and loss account, and included within administrative expenses.
UNSTABLE OBJECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
UNSTABLE OBJECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the directors in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the period was:
2024
Average number of employees 2
UNSTABLE OBJECT LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
5 TANGIBLE ASSETS
Computer equipment
£
Cost
At 19 December 2022 -
Additions 1,039
At 31 March 2024 1,039
Accumulated depreciation and impairments
At 19 December 2022 -
Charge for period 245
At 31 March 2024 245
Net book value
At 19 December 2022 -
At 31 March 2024 794
6 DEBTORS
2024
£
Trade debtors 680
7 CREDITORS: Amounts falling due within one year
2024
£
Taxation and social security 15,400
Accruals and deferred income 44,346
Other creditors 12,885
72,631
8 RELATED PARTY TRANSACTIONS
During the period, the following transactions with related parties took place:
T Etchells and V Horvat
Directors 2024
£
Amounts owed to directors 12,885
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