Company registration number 09119062 (England and Wales)
STAMPS4U.CO.UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
STAMPS4U.CO.UK LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
STAMPS4U.CO.UK LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
8,118
10,191
Current assets
Debtors
4
5,841
2,603
Cash at bank and in hand
39,865
125,441
45,706
128,044
Creditors: amounts falling due within one year
5
(47,906)
(71,943)
Net current (liabilities)/assets
(2,200)
56,101
Net assets
5,918
66,292
Capital and reserves
Called up share capital
20,000
20,000
Profit and loss reserves
(14,082)
46,292
Total equity
5,918
66,292

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 23 September 2024
Mr M Rietbrock
Director
Company Registration No. 09119062
STAMPS4U.CO.UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Stamps4u.co.uk Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Court, Campbell Road, Stoke-on-Trent, England, ST4 4FB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. They have been modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Website costs
Staight line - 5 years
1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

STAMPS4U.CO.UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Equity instruments

Equity dividends are recognised when they become legally payable. Interim dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

1.7
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

STAMPS4U.CO.UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
3
Intangible fixed assets
Website costs
£
Cost
At 1 January 2023 and 31 December 2023
10,364
Amortisation and impairment
At 1 January 2023
173
Amortisation charged for the year
2,073
At 31 December 2023
2,246
Carrying amount
At 31 December 2023
8,118
At 31 December 2022
10,191
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
3,180
2,603
Other debtors
2,661
-
0
5,841
2,603
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
5,411
18,443
Taxation and social security
2,389
14,568
Other creditors
40,106
38,932
47,906
71,943
2023-12-312023-01-01false23 September 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr M Rietbrockfalsefalse091190622023-01-012023-12-31091190622023-12-31091190622022-12-3109119062core:PatentsTrademarksLicencesConcessionsSimilar2023-12-3109119062core:PatentsTrademarksLicencesConcessionsSimilar2022-12-3109119062core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3109119062core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3109119062core:CurrentFinancialInstruments2023-12-3109119062core:CurrentFinancialInstruments2022-12-3109119062core:ShareCapital2023-12-3109119062core:ShareCapital2022-12-3109119062core:RetainedEarningsAccumulatedLosses2023-12-3109119062core:RetainedEarningsAccumulatedLosses2022-12-3109119062bus:Director12023-01-012023-12-3109119062core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3109119062core:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-31091190622022-01-012022-12-3109119062core:PatentsTrademarksLicencesConcessionsSimilar2022-12-3109119062core:WithinOneYear2023-12-3109119062core:WithinOneYear2022-12-3109119062bus:PrivateLimitedCompanyLtd2023-01-012023-12-3109119062bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3109119062bus:FRS1022023-01-012023-12-3109119062bus:AuditExemptWithAccountantsReport2023-01-012023-12-3109119062bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP