Company Registration No. 11839796 (England and Wales)
LOCALLYUK.COM LIMITED
Unaudited accounts
for the year ended 29 February 2024
LOCALLYUK.COM LIMITED
Unaudited accounts
Contents
LOCALLYUK.COM LIMITED
Company Information
for the year ended 29 February 2024
Directors
Charlie Townsend
Darren Townsend
Company Number
11839796 (England and Wales)
Registered Office
3 Portcullis Drive
Wallingford
Oxfordshire
OX10 9LY
United Kingdom
Accountants
Sterling Young Limited
Suite 50
238 Merton High Street
Wimbledon
London
England
SW19 1AU
LOCALLYUK.COM LIMITED
Accountants' report
Accountants' report to the board of directors of LOCALLYUK.COM LIMITED on the preparation of the unaudited statutory accounts for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
LOCALLYUK.COM LIMITED for the year ended
29 February 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of LOCALLYUK.COM LIMITED, as a body, in accordance with the terms of our engagement letter dated 19 January 2020. Our work has been undertaken solely to prepare for your approval the accounts of LOCALLYUK.COM LIMITED and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LOCALLYUK.COM LIMITED and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LOCALLYUK.COM LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of LOCALLYUK.COM LIMITED. You consider that LOCALLYUK.COM LIMITED is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LOCALLYUK.COM LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Sterling Young Limited
Suite 50
238 Merton High Street
Wimbledon
London
England
SW19 1AU
15 October 2024
LOCALLYUK.COM LIMITED
Statement of financial position
as at 29 February 2024
Intangible assets
34,775
37,292
Tangible assets
1,956
2,772
Cash at bank and in hand
2,449
5,715
Creditors: amounts falling due within one year
(2,032)
(16,029)
Net current assets
1,492
1,616
Total assets less current liabilities
38,223
41,680
Creditors: amounts falling due after more than one year
(38,262)
(31,653)
Net (liabilities)/assets
(39)
10,027
Called up share capital
100
100
Profit and loss account
(139)
9,927
Shareholders' funds
(39)
10,027
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by
Darren Townsend
Director
Company Registration No. 11839796
LOCALLYUK.COM LIMITED
Notes to the Accounts
for the year ended 29 February 2024
LOCALLYUK.COM LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11839796. The registered office is 3 Portcullis Drive, Wallingford, Oxfordshire, OX10 9LY, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 29 February 2024 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2022.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on Cost
Computer equipment
20% on Cost
TBSS Website Development are included at cost less accumulated amortisation. The amortisation period is 6 years
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
LOCALLYUK.COM LIMITED
Notes to the Accounts
for the year ended 29 February 2024
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Other
At 29 February 2024
42,485
At 29 February 2024
34,775
At 28 February 2023
37,292
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
1,955
6,995
2,306
11,256
At 29 February 2024
2,892
6,995
1,556
11,443
At 1 March 2023
1,041
6,995
448
8,484
Charge for the year
578
-
425
1,003
At 29 February 2024
1,619
6,995
873
9,487
At 29 February 2024
1,273
-
683
1,956
At 28 February 2023
914
-
1,858
2,772
Amounts falling due within one year
Accrued income and prepayments
911
336
LOCALLYUK.COM LIMITED
Notes to the Accounts
for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
-
9,000
Taxes and social security
-
340
Loans from directors
1,000
-
8
Creditors: amounts falling due after more than one year
2024
2023
9
Average number of employees
During the year the average number of employees was 2 (2023: 3).