Registered number
08828332
SUITABLE FOR LTD
Filleted Accounts
31 May 2024
SUITABLE FOR LTD
Registered number: 08828332
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 47,976 54,577
Current assets
Stocks 2,100 2,100
Cash at bank and in hand 235 309
2,335 2,409
Creditors: amounts falling due within one year 4 (35,086) (34,508)
Net current liabilities (32,751) (32,099)
Total assets less current liabilities 15,225 22,478
Creditors: amounts falling due after more than one year 5 (51,718) (49,591)
Net liabilities (36,493) (27,113)
Capital and reserves
Called up share capital 100 100
Profit and loss account (36,593) (27,213)
Shareholders' funds (36,493) (27,113)
The director is 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 director acknowledges his 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.
ESACK DAWOODJI
Director
Approved by the board on 12 October 2024
SUITABLE FOR 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
The company's main assett is the Website platform, which has been undergoing development over the last 4 years. It is currently in the testing stage.
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 over 10 years
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.
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 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 66,012
Additions (Web site Development) -
At 31 May 2024 66,012
Depreciation
At 1 June 2023 11,435
Charge for the year 6,601
At 31 May 2024 18,036
Net book value
At 31 May 2024 47,976
At 31 May 2023 54,577
4 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 35,086 34,508
5 Creditors: amounts falling due after one year 2024 2023
£ £
Private Loans 23,150 23,950
Directors Loan 28,568 25,641
51,718 49,591
6 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 23,950 23,950
7 Events after the reporting date
The directors continue to develop the App and Website. An additional Website platform has been created called Suitable Riders. The aim of this Phone App is to pair up Food businesses with delivery drivers. The concept will be based on a monthly Subscription .
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
ESACK DAWOODJI 22,266 3,375 - 25,641
22,266 3,375 - 25,641
9 Controlling party
The Director and his spouse have full control of the company by virtue of them owning 100% of the issued share capital.
10 Other information
SUITABLE FOR LTD is a private company limited by shares and incorporated in England. Its registered office is:
UNIT 28
BATLEY BUSINESS PARK
TECHNOLOGY DRIVE
BATLEY
WF17 6ER
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