Registered number
12486016
LOCAL HONEY CO LIMITED
Filleted Accounts
29 February 2024
LOCAL HONEY CO LIMITED
Registered number: 12486016
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Current assets
Stocks 357 1,495
Debtors 3 2,000 -
Cash at bank and in hand 5,772 6,090
8,129 7,585
Creditors: amounts falling due within one year 4 8,679 12,623
Net current assets 16,808 20,208
Total assets less current liabilities 16,808 20,208
Creditors: amounts falling due after more than one year 5 (13,535) (19,535)
Net assets 3,273 673
Capital and reserves
Called up share capital 1 1
Profit and loss account 3,272 672
Shareholder's funds 3,273 673
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 member has 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.
Soner GOLBAS
Director
Approved by the board on 16 October 2024
LOCAL HONEY CO LIMITED
Notes to the Accounts
for the year ended 29 February 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
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.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 0
3 Debtors 2024 2023
£ £
Trade debtors 2,000 -
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 122 67
Taxation and social security costs 10,280 2,491
Other creditors (19,081) (15,181)
(8,679) (12,623)
5 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,535 19,535
6 Other information
LOCAL HONEY CO LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
183 Blackstock Road
London
N5 2LL
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