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Registered number: 13033853
The Buddha Sanctuary Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13033853
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 6,291 8,365
6,291 8,365
CURRENT ASSETS
Stocks 5 232 641
Debtors 6 9,576 1,073
Cash at bank and in hand 1,911 1,572
11,719 3,286
Creditors: Amounts Falling Due Within One Year 7 (56,389 ) (62,536 )
NET CURRENT ASSETS (LIABILITIES) (44,670 ) (59,250 )
TOTAL ASSETS LESS CURRENT LIABILITIES (38,379 ) (50,885 )
NET LIABILITIES (38,379 ) (50,885 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (38,479 ) (50,985 )
SHAREHOLDERS' FUNDS (38,379) (50,885)
Page 1
Page 2
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs D Wood
Director
27/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Buddha Sanctuary Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13033853 . The registered office is 49 High Street, Canvey Island, Essex, SS8 8HF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Computer Equipment 20% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 2)
4 2
4. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 December 2022 2,754 8,575 493 11,822
As at 30 November 2023 2,754 8,575 493 11,822
Depreciation
As at 1 December 2022 707 2,639 111 3,457
Provided during the period 513 1,485 76 2,074
As at 30 November 2023 1,220 4,124 187 5,531
Net Book Value
As at 30 November 2023 1,534 4,451 306 6,291
As at 1 December 2022 2,047 5,936 382 8,365
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5. Stocks
2023 2022
£ £
Stock - materials 232 641
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 9,576 1,073
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 569 5,412
Other creditors 55,577 56,894
Taxation and social security 243 230
56,389 62,536
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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