Registered number
11759715
Stroud Green Fitters Limited
Filleted Accounts
31 January 2024
Stroud Green Fitters Limited
Registered number: 11759715
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 44,160 55,199
Current assets
Stocks 45,803 26,748
Debtors 4 6,143 12,219
Cash at bank and in hand 19,944 33,819
71,890 72,786
Creditors: amounts falling due within one year 5 (35,720) (22,258)
Net current assets 36,170 50,528
Total assets less current liabilities 80,330 105,727
Creditors: amounts falling due after more than one year 6 (51,818) (77,358)
Net assets 28,512 28,369
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,412 28,269
Shareholders' funds 28,512 28,369
The directors are 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 directors acknowledge their 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.
Ahlber Durici
Director
Approved by the board on 31 October 2024
Stroud Green Fitters Limited
Notes to the Accounts
for the year ended 31 January 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).
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..
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 5 years @20% reducing balance method
Motor Vehicle over 5 years @20% reducing balance method
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 3,651 68,138 71,789
At 31 January 2024 3,651 68,138 71,789
Depreciation
At 1 February 2023 1,058 15,532 16,590
Charge for the year 518 10,521 11,039
At 31 January 2024 1,576 26,053 27,629
Net book value
At 31 January 2024 2,075 42,085 44,160
At 31 January 2023 2,593 52,606 55,199
4 Debtors 2024 2023
£ £
Trade debtors - 2,407
Other debtors 6,143 9,812
6,143 12,219
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,035 421
Taxation and social security costs 10,698 19,965
Other creditors 23,987 1,872
35,720 22,258
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 24,167 34,167
Obligations under finance lease and hire purchase contracts 27,651 43,191
51,818 77,358
7 Controlling party
Albert Durici
8 Other information
Stroud Green Fitters Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 5a
Rosebery Industrial Park
London
N17 9SR
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