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COMPANY REGISTRATION NUMBER: 14638638
Xplosive Ape Retail Limited
Filleted Unaudited Financial Statements
28 February 2024
Xplosive Ape Retail Limited
Statement of Financial Position
28 February 2024
28 Feb 24
Note
£
Current assets
Stocks
99,570
Debtors
5
129,306
Cash at bank and in hand
18,312
---------
247,188
Creditors: amounts falling due within one year
6
395,145
---------
Net current liabilities
147,957
---------
Total assets less current liabilities
( 147,957)
---------
Capital and reserves
Called up share capital
1
Profit and loss account
( 147,958)
---------
Shareholders deficit
( 147,957)
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the period ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 14 July 2024 , and are signed on behalf of the board by:
Mr U Vadher
Director
Company registration number: 14638638
Xplosive Ape Retail Limited
Notes to the Financial Statements
Period from 3 February 2023 to 28 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, 133 Loughborough Road, Leicester, LE4 5LQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, Small Entities of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At 28 February 2024 the company's balance sheet showed an insolvent position. It is the intention of the directors to continue to support the company to enable it to meet its cashflow requirements and so these accounts have been prepared on a going concern basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 .
5. Debtors
28 Feb 24
£
Trade debtors
1,102
Other debtors
128,204
---------
129,306
---------
6. Creditors: amounts falling due within one year
28 Feb 24
£
Trade creditors
390,831
Social security and other taxes
632
Other creditors
3,682
---------
395,145
---------
7. Director's advances, credits and guarantees
At 28 February 2024, director owed £22,125 to the company.
8. The ultimate controlling party
The company is controlled by the director of the company.