COMPANY REGISTRATION NUMBER:
11151928
Filleted Unaudited Abridged Financial Statements |
|
Abridged Statement of Financial Position |
|
29 February 2024
Fixed assets
Tangible assets |
5 |
548 |
698 |
|
|
|
|
Current assets
Stocks |
361,477 |
321,825 |
Debtors |
10,452 |
31,127 |
Cash at bank and in hand |
160,639 |
91,561 |
|
--------- |
--------- |
|
532,568 |
444,513 |
|
|
|
Creditors: amounts falling due within one year |
197,989 |
185,097 |
|
--------- |
--------- |
Net current assets |
334,579 |
259,416 |
|
--------- |
--------- |
Total assets less current liabilities |
335,127 |
260,114 |
|
|
|
Creditors: amounts falling due after more than one year |
61,751 |
40,521 |
|
--------- |
--------- |
Net assets |
273,376 |
219,593 |
|
--------- |
--------- |
|
|
|
Capital and reserves
Called up share capital |
2 |
2 |
Profit and loss account |
273,374 |
219,591 |
|
--------- |
--------- |
Shareholders funds |
273,376 |
219,593 |
|
--------- |
--------- |
|
|
|
These abridged 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 abridged statement of income and retained earnings has not been delivered.
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.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
29 February 2024
These abridged financial statements were approved by the
board of directors
and authorised for issue on
20 November 2024
, and are signed on behalf of the board by:
Mr M A Brownsword |
Director |
|
Company registration number:
11151928
Notes to the Abridged Financial Statements |
|
Year ended 29 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 92B King Street, Knutsford, Cheshire, WA16 6ED, United Kingdom.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the amounts receivable for goods supplied, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised of a strict daily time basis when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods.
Taxation
The taxation expense represents the current tax that is recognised on the taxable profit for the period and that is measured at the amounts of tax expected to be payable or recoverable using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Office equipment |
- |
33% straight line |
|
|
|
|
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the abridged statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the related service is provided.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
4
(2023:
3
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 March 2023 |
2,140 |
Additions |
305 |
|
------- |
At 29 February 2024 |
2,445 |
|
------- |
Depreciation |
|
At 1 March 2023 |
1,442 |
Charge for the year |
455 |
|
------- |
At 29 February 2024 |
1,897 |
|
------- |
Carrying amount |
|
At 29 February 2024 |
548 |
|
------- |
At 28 February 2023 |
698 |
|
------- |
|
|