Registered number
06310548
Affinit Ltd
Filleted Accounts
31 May 2024
Affinit Ltd
Registered number: 06310548
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,177 3,501
Current assets
Debtors 4 6,628 5,224
Cash at bank and in hand 7,425 5,951
14,053 11,175
Creditors: amounts falling due within one year 5 (5,181) (4,074)
Net current assets 8,872 7,101
Net assets 12,049 10,602
Capital and reserves
Called up share capital 4,300 4,300
Profit and loss account 7,749 6,302
Shareholders' funds 12,049 10,602
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.
Mr Graham Brown
Director
Approved by the board on 7 October 2024
Affinit Ltd
Notes to the Accounts
for the year ended 31 May 2024
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Reducing balance
Computer & office equipment 25% Reducing balance
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer & office eqpt Plant and machinery etc Total
£ £ £
Cost
At 1 June 2023 10,630 3,100 13,730
Additions 736 - 736
At 31 May 2024 11,366 3,100 14,466
Depreciation
At 1 June 2023 7,187 3,042 10,229
Charge for the year 1,045 15 1,060
At 31 May 2024 8,232 3,057 11,289
Net book value
At 31 May 2024 3,134 43 3,177
At 31 May 2023 3,443 58 3,501
4 Debtors 2024 2023
£ £
Trade debtors 6,628 5,133
Other debtors - 91
6,628 5,224
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,110 1,207
Taxation and social security costs 1,203 -
Directors loan account 2,243 2,242
Other creditors 625 625
5,181 4,074
6 Other information
Affinit Ltd is a private company limited by shares and incorporated in England. Its registered office is:
124 Southridge Rise
Crowborough
England
TN6 1LL
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