Registered number
11294643
Mary Joy Community Crafts Outlet Limited
Report and Accounts
30 April 2024
Mary Joy Community Crafts Outlet Limited
Registered number: 11294643
Balance Sheet
as at 30 April 2024
30th April 30th April
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 229 710
Current assets
Stocks 34,023 28,760
Cash at bank and in hand 584 470
34,607 29,230
Creditors: amounts falling due within one year 4 (28,648) (29,761)
Net current assets/(liabilities) 5,959 (531)
Net assets 6,188 179
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,088 79
Shareholders' funds 6,188 179
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.
Mr RJ Murray
Director
Approved by the board on 23 October 2024
Mary Joy Community Crafts Outlet Limited
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, 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 and net of discounts. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods and services are recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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 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 20% reducing balance
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).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
30th April 30th April
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 May 2023 3,515
At 30 April 2024 3,515
Depreciation
At 1 May 2023 2,805
Charge for the year 481
At 30 April 2024 3,286
Net book value
At 30 April 2024 229
At 30 April 2023 710
30th April 30th April
2024 2023
4 Creditors: amounts falling due within one year £ £
Other creditors 390 -
Director's loan account 28,258 29,761
28,648 29,761
5 Other information
Mary Joy Community Crafts Outlet Limited is a private company limited by shares and incorporated in England. The registered office is:
4 Merebrook Close
Macclesfield
SK11 8QD
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