Registered number
07956086
Start With Data Ltd
Filleted Accounts
29 February 2024
Start With Data Ltd
Registered number: 07956086
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 47,427 80,308
Current assets
Debtors 4 141,307 144,964
Cash at bank and in hand 41,949 373,778
183,256 518,742
Creditors: amounts falling due within one year 5 (105,923) (166,053)
Net current assets 77,333 352,689
Total assets less current liabilities 124,760 432,997
Creditors: amounts falling due after more than one year 6 (15,000) (25,000)
Provisions for liabilities (9,011) -
Net assets 100,749 407,997
Capital and reserves
Called up share capital 200 200
Profit and loss account 100,549 407,797
Shareholders' funds 100,749 407,997
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.
Ben Adams
Director
Approved by the board on 25 November 2024
Start With Data Ltd
Notes to the Accounts
for the year ended 29 February 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. 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.
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:
Office Equipment 50% straight line
Motor Vehicles 20% straight line
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. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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 4 5
3 Tangible fixed assets
Office equipment Motor vehicles Total
£ £ £
Cost
At 1 March 2023 52,040 86,600 138,640
Additions 2,216 48,615 50,831
Disposals - (86,600) (86,600)
At 29 February 2024 54,256 48,615 102,871
Depreciation
At 1 March 2023 38,690 19,642 58,332
Charge for the year 9,462 11,623 21,085
On disposals - (23,973) (23,973)
At 29 February 2024 48,152 7,292 55,444
Net book value
At 29 February 2024 6,104 41,323 47,427
At 28 February 2023 13,350 66,958 80,308
4 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Ben Adams
Directors Loan Account 9,959 14,176 (14,168) 9,967
Clare Adams
Directors Loan Account 9,959 14,177 (14,168) 9,968
19,918 28,353 (28,336) 19,935
The loan is unsecured, interest-free and repayable on the company's demand.
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