Registered number
05699319
Sizemic Limited
Filleted Accounts
31 January 2024
Sizemic Limited
Registered number: 05699319
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 812 1,083
Current assets
Stocks 23,602 23,329
Debtors 4 57,535 65,137
Cash at bank and in hand 50,179 54,480
131,316 142,946
Creditors: amounts falling due within one year 5 (22,697) (27,666)
Net current assets 108,619 115,280
Total assets less current liabilities 109,431 116,363
Creditors: amounts falling due after more than one year 6 (84,431) (93,616)
Net assets 25,000 22,747
Capital and reserves
Called up share capital 100 100
Profit and loss account 24,900 22,647
Shareholders' funds 25,000 22,747
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 A N Crawford
Director
Approved by the board on 24 October 2024
Sizemic Limited
Notes to the Accounts
for the year ended 31 January 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 sale of mannequins and from the rendering of data analysis services. Turnover from the sale of mannequins is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of data analysis services is recognised when the data analysis is provided.
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% on written down value
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. 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 (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 current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 2 2
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 21,273
At 31 January 2024 21,273
Depreciation
At 1 February 2023 20,190
Charge for the year 271
At 31 January 2024 20,461
Net book value
At 31 January 2024 812
At 31 January 2023 1,083
4 Debtors 2024 2023
£ £
Trade debtors 60,194 65,137
Other debtors (2,659) -
57,535 65,137
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,569 11,274
Trade creditors 4,955 10,544
Corporation tax 674 24
Other taxes and social security costs 4,896 1,742
Other creditors 1,603 4,082
22,697 27,666
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 14,431 23,616
Other creditors 70,000 70,000
84,431 93,616
7 Other information
Sizemic Limited is a private company limited by shares and incorporated in England. Its registered office is:
47 Streathbourne Road
London
SW17 8QZ
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