Runstrong Ltd
Registered number: 13308943
Statement of Financial Position
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 119 136
Current assets
Stocks 1,600 2,604
Debtors 4 993 1,070
Cash at bank and in hand 3,325 3,279
5,918 6,953
Creditors: amounts falling due within one year 5 (22,865) (17,744)
Net current liabilities (16,947) (10,791)
Net liabilities (16,828) (10,655)
Capital and reserves
Called up share capital 1 1
Profit and loss account (16,829) (10,656)
Shareholder's funds (16,828) (10,655)
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 her 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 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.
H Cassidy
Director
Approved by the board on 21 October 2024
Runstrong Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. 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.
Inventories
Inventories 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, less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction 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.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Intangible fixed assets £
Trade mark:
Cost
At 1 May 2023 170
At 30 April 2024 170
Amortisation
At 1 May 2023 34
Provided during the year 17
At 30 April 2024 51
Net book value
At 30 April 2024 119
At 30 April 2023 136
The trade mark is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Debtors 2024 2023
£ £
Trade debtors 500 500
Prepayments 473 570
Other debtors 20 -
993 1,070
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,561 -
Accruals 1,038 990
Other creditors 18,266 16,754
22,865 17,744
6 Other information
Runstrong Ltd is a private company limited by shares and incorporated in England. Its registered office is:
International House
64 Nile Street
London
N1 7SR
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