0 false false false false false false false false false false true false true false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2023 - FRS102_2023 887 1,515 2,402 222 600 822 1,580 665 xbrli:pure xbrli:shares iso4217:GBP 13901852 2023-03-01 2024-02-29 13901852 2024-02-29 13901852 2023-02-28 13901852 2022-02-08 2023-02-28 13901852 2023-02-28 13901852 2022-02-07 13901852 core:FurnitureFittings 2023-03-01 2024-02-29 13901852 bus:Director1 2023-03-01 2024-02-29 13901852 core:FurnitureFittings 2023-02-28 13901852 core:FurnitureFittings 2024-02-29 13901852 core:WithinOneYear 2024-02-29 13901852 core:WithinOneYear 2023-02-28 13901852 core:ShareCapital 2024-02-29 13901852 core:ShareCapital 2023-02-28 13901852 core:RetainedEarningsAccumulatedLosses 2024-02-29 13901852 core:RetainedEarningsAccumulatedLosses 2023-02-28 13901852 core:FurnitureFittings 2023-02-28 13901852 bus:SmallEntities 2023-03-01 2024-02-29 13901852 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13901852 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 13901852 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13901852 bus:FullAccounts 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 13901852
Shoreline Mumbles Ltd
Filleted Unaudited Financial Statements
29 February 2024
Shoreline Mumbles Ltd
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
1,580
665
Current assets
Cash at bank and in hand
4,040
5,794
Creditors: amounts falling due within one year
5
11,127
14,922
--------
--------
Net current liabilities
7,087
9,128
-------
-------
Total assets less current liabilities
( 5,507)
( 8,463)
Provisions
( 1,097)
( 1,636)
-------
-------
Net liabilities
( 4,410)
( 6,827)
-------
-------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 4,412)
( 6,829)
-------
-------
Shareholders deficit
( 4,410)
( 6,827)
-------
-------
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 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 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 financial statements .
Shoreline Mumbles Ltd
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 21 November 2024 , and are signed on behalf of the board by:
Mr N D John
Director
Company registration number: 13901852
Shoreline Mumbles Ltd
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Unit 2, Millbrook Industrial Estate, Siloh Road, Landore, Swansea, SA1 2NT, United Kingdom.
2. Statement of compliance
These 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, 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.
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 and stated net of discounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Fixtures and fittings
-
15% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship (see hedge accounting policy). For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Fixtures and fittings
£
Cost
At 1 March 2023
887
Additions
1,515
-------
At 29 February 2024
2,402
-------
Depreciation
At 1 March 2023
222
Charge for the year
600
-------
At 29 February 2024
822
-------
Carrying amount
At 29 February 2024
1,580
-------
At 28 February 2023
665
-------
5. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,008
Other creditors
11,127
10,914
--------
--------
11,127
14,922
--------
--------