Registered number
10097316
Rachel Balfour Limited
Unaudited Filleted Accounts
30 April 2024
Rachel Balfour Limited
Registered number: 10097316
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 282 174
Current assets
Stocks 9,185 10,000
Debtors 4 4,999 11,000
Cash at bank and in hand 34,377 2,527
48,561 23,527
Creditors: amounts falling due within one year 5 (34,628) (26,630)
Net current assets/(liabilities) 13,933 (3,103)
Total assets less current liabilities 14,215 (2,929)
Provisions for liabilities (54) -
Net assets/(liabilities) 14,161 (2,929)
Capital and reserves
Called up share capital 1 1
Profit and loss account 14,160 (2,930)
Shareholders' funds 14,161 (2,929)
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 members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
Mrs R Cuddigan
Director
Approved by the board on 30 October 2024
Rachel Balfour Limited
Notes to the Accounts
for the year ended 30 April 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). The financial statements are presented in sterling which is the functional currency of the company and are rounded to the nearest £.
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
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% reducing balance
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 and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable and payable within one year are recorded at transaction price. Any losses from impairment are recognised in the profit and loss in other administrative expenses.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 642
Additions 202
At 30 April 2024 844
Depreciation
At 1 May 2023 468
Charge for the year 94
At 30 April 2024 562
Net book value
At 30 April 2024 282
At 30 April 2023 174
4 Debtors 2024 2023
£ £
Trade debtors - 11,000
Other debtors 4,999 -
4,999 11,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 528 -
Taxation and social security costs 3,335 -
Other creditors 30,765 26,630
34,628 26,630
6 Other information
Rachel Balfour Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Goldsmiths' Centre
42 Britton Street
London
EC1M 5AD
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