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Registered number: 11752741
Long Nails Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 11752741
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Stocks 4 230 152
Debtors 5 5,369 7,888
Cash at bank and in hand 11,981 1,063
17,580 9,103
Creditors: Amounts Falling Due Within One Year 6 (25,216 ) (18,517 )
NET CURRENT ASSETS (LIABILITIES) (7,636 ) (9,414 )
TOTAL ASSETS LESS CURRENT LIABILITIES (7,636 ) (9,414 )
NET LIABILITIES (7,636 ) (9,414 )
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account (7,637 ) (9,415 )
SHAREHOLDERS' FUNDS (7,636) (9,414)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Thi Le
Director
24 October 2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Long Nails Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11752741 . The registered office is 63 Dale End, Birmingham, B4 7LS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2023: 5)
5 5
4. Stocks
2024 2023
£ £
Stock 230 152
5. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 4,800 6,819
Director's loan account 569 1,069
5,369 7,888
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 15,324 9,882
Corporation tax 5,464 1,263
Other taxes and social security 599 3,553
Net wages 3,289 3,279
Accruals and deferred income 540 540
25,216 18,517
Page 2
Page 3
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 February 2023 Amounts advanced Amounts repaid Amounts written off As at 31 January 2024
£ £ £ £ £
Mrs Thi Le 1,068 - 500 - 568
The above loan is unsecured, interest free and repayable on demand.
Page 3