Registered number
13802300
Outdoors In Ltd
Filleted Accounts
31 December 2023
Outdoors In Ltd
Registered number: 13802300
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 - 7,282
Cash at bank and in hand 61 2,751
61 10,033
Creditors: amounts falling due within one year 4 (2,956) (2,216)
Net current (liabilities)/assets (2,895) 7,817
Net (liabilities)/assets (2,895) 7,817
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,896) 7,816
Shareholder's funds (2,895) 7,817
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 member has 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 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.
M Simons
Director
Approved by the board on 19 September 2024
Outdoors In Ltd
Notes to the Accounts
for the year ended 31 December 2023
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. 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 future taxable profits. Deferred tax is measured using the 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors - 7,090
Other debtors - 192
- 7,282
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 412 -
Taxation and social security costs 2,185 1,773
Other creditors 359 443
2,956 2,216
5 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
M Simons
Directors Loan Account (220) 26,232 (26,013) (1)
(220) 26,232 (26,013) (1)
6 Related party transactions
Included within other creditors is a balance of £1 owed by the company to the director (2022- £220), this amount is undated, interest free and repayable on demand.
7 Controlling party
The director M Simons has control of the company by virtue of his shareholding.
8 Going concern
The company will cease trading on 31 December 2023 and the financial statements have been prepared on a basis other than that of the going concern basis. This basis includes, where applicable, writing the company’s assets down to net realisable value. Provisions have also been made in respect of contracts which have become onerous at the reporting date. No provision has been made for the future costs of terminating the business unless such costs were committed at the reporting date.’
9 Other information
Outdoors In Ltd is a private company limited by shares and incorporated in England. Its registered office is:
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
Outdoors In Ltd 13802300 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 M Simons No description of principal activity 13802300 2022-01-01 2022-12-31 13802300 core:WithinOneYear 2022-12-31 13802300 core:ShareCapital 2022-12-31 13802300 core:RetainedEarningsAccumulatedLosses 2022-12-31 13802300 2023-01-01 2023-12-31 13802300 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13802300 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13802300 bus:Director40 2023-01-01 2023-12-31 13802300 1 2023-01-01 2023-12-31 13802300 2 2023-01-01 2023-12-31 13802300 bus:Director1 2023-01-01 2023-12-31 13802300 bus:Director1 1 2023-01-01 2023-12-31 13802300 countries:England 2023-01-01 2023-12-31 13802300 bus:FRS102 2023-01-01 2023-12-31 13802300 bus:FilletedAccounts 2023-01-01 2023-12-31 13802300 2023-12-31 13802300 core:WithinOneYear 2023-12-31 13802300 core:ShareCapital 2023-12-31 13802300 core:RetainedEarningsAccumulatedLosses 2023-12-31 13802300 bus:Director1 1 2023-12-31 13802300 2022-12-31 13802300 bus:Director1 1 2022-12-31 iso4217:GBP xbrli:pure