Registered number
11672877
FIVE HEADS SOLUTION LTD
Filleted Accounts
31 December 2023
FIVE HEADS SOLUTION LTD
Registered number: 11672877
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Current assets
Debtors 3 869 676
Cash at bank and in hand 1,237 3,783
2,106 4,459
Creditors: amounts falling due within one year 4 (11,455) (13,107)
Net current liabilities (9,349) (8,648)
Net liabilities (9,349) (8,648)
Capital and reserves
Called up share capital 100 100
Profit and loss account (9,449) (8,748)
Shareholders' funds (9,349) (8,648)
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 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.
S Megetto
Director
Approved by the board on 25 September 2024
FIVE HEADS SOLUTION 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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Debtors 2023 2022
£ £
Trade debtors 869 676
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 53
Accruals 6,240 1,740
Directors Loan Account 5,215 11,314
11,455 13,107
5 Controlling party
The company was under the control of the director during the period under review
6 Other information
FIVE HEADS SOLUTION LTD is a private company limited by shares and incorporated in England. Its registered office is:
16b Gisburn Road
London
N8 7BS
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