REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 March 2022 |
for |
333 Records Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 March 2022 |
for |
333 Records Limited |
333 Records Limited (Registered number: 06358177) |
Contents of the Financial Statements |
for the Year Ended 30 March 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Report of the Accountants | 7 |
333 Records Limited |
Company Information |
for the Year Ended 30 March 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
434 Finchley Road |
London |
NW2 2HY |
333 Records Limited (Registered number: 06358177) |
Balance Sheet |
30 March 2022 |
30.3.22 | 30.3.21 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
6 |
( |
) |
( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | 8 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the director and authorised for issue on |
333 Records Limited (Registered number: 06358177) |
Notes to the Financial Statements |
for the Year Ended 30 March 2022 |
1. | STATUTORY INFORMATION |
333 Records Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
333 Records Limited (Registered number: 06358177) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2022 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Thc company has elected to apply thc provisions of Section ll 'Basic Financial Instruments' and Section l2 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amorlised. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Basic financial liabilities |
Basic financial liabilities, including creditors are initially readiness at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market late of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently caried at amortised cost, using the effective interest rate method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
333 Records Limited (Registered number: 06358177) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Going concern |
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continue to adopt the going concern basis of accounting in preparing the financial statements. |
Imparement of fixed assets |
At each reporting period end date, the company reviewed the carrying amount of its tangible 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 estimated the recoverable amount of the cash-generating unit to which the asset belongs. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
£ |
COST |
At 31 March 2021 |
Additions |
At 30 March 2022 |
DEPRECIATION |
At 31 March 2021 |
Charge for year |
At 30 March 2022 |
NET BOOK VALUE |
At 30 March 2022 |
At 30 March 2021 |
5. | STOCKS |
30.3.22 | 30.3.21 |
£ | £ |
Stock | 72,206 | 74,611 |
333 Records Limited (Registered number: 06358177) |
Notes to the Financial Statements - continued |
for the Year Ended 30 March 2022 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.3.22 | 30.3.21 |
£ | £ |
Trade creditors |
VAT | 10 | 619 |
Other creditors |
Directors' current accounts | 25,692 | 31,731 |
Accrued expenses |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.3.22 | 30.3.21 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
8. | RESERVES |
Retained |
earnings |
£ |
At 31 March 2021 | ( |
) |
Profit for the year |
At 30 March 2022 | ( |
) |
333 Records Limited |
Report of the Accountants to the Director of |
333 Records Limited |
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 March 2022 set out on pages two to four and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Chartered Accountants |
434 Finchley Road |
London |
NW2 2HY |
Date: ............................................. |