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Company Registration No. 07515800 (England and Wales)
Sample & Hold Limited Unaudited accounts for the year ended 29 February 2024
Sample & Hold Limited Unaudited accounts Contents
Page
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Sample & Hold Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
201,182 
224,356 
Current assets
Debtors
216,643 
297,782 
Cash at bank and in hand
407,990 
138,675 
624,633 
436,457 
Creditors: amounts falling due within one year
(241,567)
(101,754)
Net current assets
383,066 
334,703 
Total assets less current liabilities
584,248 
559,059 
Creditors: amounts falling due after more than one year
(84,101)
(116,747)
Provisions for liabilities
Deferred tax
(38,224)
(42,628)
Net assets
461,923 
399,684 
Capital and reserves
Called up share capital
300 
300 
Profit and loss account
461,623 
399,384 
Shareholders' funds
461,923 
399,684 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by
S N J Jackson Director Company Registration No. 07515800
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Sample & Hold Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Sample & Hold Limited is a private company, limited by shares, registered in England and Wales, registration number 07515800. The registered office is Shoreditch Town Hall, 380 Old Street, London, EC1V 9LT, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Presentation currency
The presentational and functional currency of the company is Sterling pounds (£) and amounts in the accounts rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.
Hire purchase and leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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Sample & Hold Limited Notes to the Accounts for the year ended 29 February 2024
Taxation
Taxation for the year comprises current and deferred tax and is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current taxation liabilities are not discounted and is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Current taxation liabilities is not discounted Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance basis and straight line over 4 years
Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
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Sample & Hold Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2023
426,592 
Additions
44,737 
At 29 February 2024
471,329 
Depreciation
At 1 March 2023
202,236 
Charge for the year
67,911 
At 29 February 2024
270,147 
Net book value
At 29 February 2024
201,182 
At 28 February 2023
224,356 
2024 
2023 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
77,878 
103,838 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
121,128 
104,406 
Accrued income and prepayments
43,200 
162,957 
Other debtors
42,141 
13,626 
206,469 
280,989 
Amounts falling due after more than one year
Accrued income and prepayments
10,174 
16,793 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,098 
9,855 
Obligations under finance leases and hire purchase contracts
22,554 
22,554 
Trade creditors
153,679 
55,872 
Taxes and social security
41,304 
3,013 
Loans from directors
11,550 
8,691 
Accruals
2,382 
1,769 
241,567 
101,754 
Bank loans represent a Bounce Back loan which is guaranteed by the UK government with interest at 2.5% p.a.. HP liabilities of £22,554 (2023: £22,554) are secured against Fixed Assets with a net book value of £77,878 (2023: £103,838).
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Sample & Hold Limited Notes to the Accounts for the year ended 29 February 2024
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
16,516 
26,608 
Obligations under finance leases and hire purchase contracts
67,585 
90,139 
84,101 
116,747 
Bank loans represent a Bounce Back loan which is guaranteed by the UK government with interest at 2.5% p.a.. HP liabilities of £67,585 (2023: £90,139) are secured against Fixed Assets with a net book value of £77,878 (2023: £103,838).
8
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
300 Ordinary shares of £1 each
300 
300 
9
Operating lease commitments
2024 
2023 
£ 
£ 
At 29 February 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
24,059 
37,797 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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