Registered number
07106694
Laptopdiy Limited
Filleted Accounts
31 December 2023
Laptopdiy Limited
Registered number: 07106694
Balance Sheet
as at 31 December 2023
Notes 2023 2022
Fixed assets
Tangible assets 3 2,276 3,415
Current assets
Stocks 4,276 3,780
Debtors 4 19,538 14,201
Cash at bank and in hand 22,698 30,894
46,512 48,875
Creditors: amounts falling due within one year 5 (10,517) (23,190)
Net current assets 35,995 25,685
Total assets less current liabilities 38,271 29,100
Creditors: amounts falling due after more than one year 6 (2,267) (3,866)
Provisions for liabilities (433) (649)
Net assets 35,571 24,585
Capital and reserves
Called up share capital 1 1
Profit and loss account 35,570 24,584
Shareholder's funds 35,571 24,585
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 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.
P Clarke
Director
Approved by the board on 30 October 2024
Laptopdiy Limited
Notes to the Accounts
for the year ended 31 December 2023
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 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.
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 over 4 years
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Grant income
Capital and revenue grants are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
Cost
At 1 January 2023 6,714
At 31 December 2023 6,714
Depreciation
At 1 January 2023 3,299
Charge for the year 1,139
At 31 December 2023 4,438
Net book value
At 31 December 2023 2,276
At 31 December 2022 3,415
4 Debtors 2023 2022
Trade debtors 2,558 14,079
Other debtors 16,980 122
19,538 14,201
5 Creditors: amounts falling due within one year 2023 2022
Bank loans and overdrafts 1,600 1,600
Trade creditors 2,184 2,921
Taxation and social security costs 2,921 5,031
Other creditors 3,812 13,638
10,517 23,190
6 Creditors: amounts falling due after one year 2023 2022
Bank loans 2,267 3,866
7 Loans 2023 2022
Creditors include:
Secured bank loans 3,867 5,466
The bank loan is a Covid Bounce Back Loan and is secured by the UK Government.
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
P Clarke
Directors current accont (10,746) 27,726 - 16,980
(10,746) 27,726 - 16,980
On 24th April 2024 the loan to the director was repaid in full.
9 Controlling party
The director, P Clarke, is the controlling party.
10 Other information
Laptopdiy Limited is a private company limited by shares and incorporated in England. Its registered office is:
60 Eldon Street
Barnsley
South Yorkshire
S70 2JL
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