for the Period Ended 30 April 2024
Company Information - 3 | |
Report of the Directors - 4 | |
Profit and Loss Account - 5 | |
Balance sheet - 6 | |
Additional notes - 8 | |
Balance sheet notes - 11 |
for the Period Ended 30 April 2024
Director: |
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Registered office: |
GB-WLS |
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Company Registration Number: |
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The directors present their report with the financial statements of the company for the period ended 30 April 2024
Principal Activities
Company policy on the employment of disabled persons
Additional information
The company is primarily engaged in the wholesale trade of radios, television sets, and other electrical household appliances and it also offers financial management services. The company do not handle investments or funds directly but provides comprehensive financial advice to small and medium-sized businesses. This guidance encompasses a wide range of financial matters, assisting these businesses in making informed decisions and navigating the complexities of their financial landscape.
Directors
The director(s) shown below were appointed to the company during the period
This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
for the Period Ended 30 April 2024
Notes |
2024 £ |
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Turnover |
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Cost of sales |
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Gross Profit or (Loss) |
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Distribution Costs |
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Administrative Expenses |
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Operating Profit or (Loss) |
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Profit or (Loss) Before Tax |
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Tax on Profit |
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Profit or (Loss) for Period |
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The notes form part of these financial statements
As at
Notes |
2024 £ |
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Fixed assets | ||
Tangible assets: | 4 |
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Total fixed assets: |
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Current assets | ||
Stocks: |
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Debtors: | 5 |
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Cash at bank and in hand: |
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Total current assets: |
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Prepayments and accrued income: |
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Creditors: amounts falling due within one year: | 6 |
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Net current assets (liabilities): |
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Total assets less current liabilities: |
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Creditors: amounts falling due after more than one year: | 7 |
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Provision for liabilities: |
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Accruals and deferred income: |
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Total net assets (liabilities): |
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The notes form part of these financial statements
As at 30 April 2024
Notes |
2024 £ |
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Capital and reserves | ||
Called up share capital: |
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Profit and loss account: |
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Shareholders funds: |
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This report was approved by the board of directors on
And Signed On Behalf Of The Board By:
Name:
Status: Director
The notes form part of these financial statements
for the Period Ended 30 April 2024
Basis of measurement and preparation
for the Period Ended 30 April 2024
2024 |
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Average number of employees during the period |
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for the Period Ended 30 April 2024
for the Period Ended 30 April 2024
Land & buildings | Office equipment | Total | |
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Cost | £ | £ | £ |
Additions |
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Disposals | - | - | - |
Revaluations | - | - | - |
Transfers | - | - | - |
At 30 April 2024 |
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Depreciation | |||
Charge for year | - | - | - |
On disposals | - | - | - |
Other adjustments | - | - | - |
At 30 April 2024 | - | - | - |
Net book value | |||
At 30 April 2024 |
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Additionally, to account for the office equipment purchased for £43,000, office equipment account is debited against liquid cash from working capital. This reflects that the company has acquired a new assets (office furniture and working equipment) and paid for it using cash during .
It's important to note that the depreciation expense for the property will be calculated in the following year. This is because the property was acquired during the current year but will be used for multiple years. Therefore, its cost needs to be spread out over its useful life. The depreciation method used (e.g., straight-line) will determine the specific calculation.
for the Period Ended 30 April 2024
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Trade debtors |
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Total |
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This amount is billed to our client and is yet to be received. Services for this has already been provided.
The company maintains an allowance for doubtful debts to account for potential losses from uncollectible debts. The allowance is based on a review of the aging of Debtors and other factors. As of 30 April 2024, the allowance for doubtful debts was £0.
This amount is billed to our client and is yet to be received. Services for this has already been provided.
for the Period Ended 30 April 2024
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Trade creditors |
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Total |
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The company believes that all Creditors are collectible. The £247,550 due within one year represents amounts owed to trade vendors for stock purchased on credit. These amounts are expected to be settled within three months from the date of purchase.
for the Period Ended 30 April 2024
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Other creditors |
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Total |
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This is a valuable addition to the firms resources. The debt is the only long term liability this company holds, with only operating rights being transferred, making the property itself as the collateral.