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Registration number: 13729233

Stan Larcombe Limited

Unaudited Filleted Financial Statements

for the Period from 1 December 2022 to 31 January 2024

 

Stan Larcombe Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 6

 

Stan Larcombe Limited

(Registration number: 13729233)
Statement of Financial Position as at 31 January 2024

Note

2024
£

2022
£

Fixed assets

 

Tangible assets

4

-

1,630

Current assets

 

Stocks

5

-

29,038

Cash at bank and in hand

 

-

536

 

-

29,574

Creditors: Amounts falling due within one year

6

(20,052)

(34,376)

Net current liabilities

 

(20,052)

(4,802)

Net liabilities

 

(20,052)

(3,172)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(20,054)

(3,174)

Shareholders' deficit

 

(20,052)

(3,172)

For the financial period ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 22 October 2024
 


T Larcombe
Director

 

Stan Larcombe Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3 The Mansion
Moorhaven
Ivybridge
Devon
PL21 0XF

Principal activity

The principal activity of the company is that of an apparel brand.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost basis.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have not been prepared on a going concern basis as the Company has ceased trading as of the year-end date. The decision to cease trading was made by the director within the period, and all business operations have been discontinued.

As a result, assets have been disposed of, and liabilities have been accounted for in full.
The directors believe this presentation provides a true and fair view of the Company's financial position as at 31 January 2024.

 

Stan Larcombe Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

 

Stan Larcombe Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 2 (2022 - 2).

 

Stan Larcombe Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024 (continued)

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 December 2022

2,175

2,175

Disposals

(2,175)

(2,175)

At 31 January 2024

-

-

Depreciation

At 1 December 2022

545

545

Charge for the period

545

545

Eliminated on disposal

(1,090)

(1,090)

At 31 January 2024

-

-

Carrying amount

At 31 January 2024

-

-

At 30 November 2022

1,630

1,630

5

Stocks

2024
£

2022
£

Finished goods and goods for resale

-

29,038

 

Stan Larcombe Limited

Notes to the Unaudited Financial Statements for the Period from 1 December 2022 to 31 January 2024 (continued)

6

Creditors

Creditors: amounts falling due within one year

2024
£

2022
£

Due within one year

Accruals and deferred income

-

1,500

Other creditors

20,052

32,876

20,052

34,376

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.