Registered number
10094215
SAMPLE TEXTILES LTD
Filleted Accounts
31 March 2024
SAMPLE TEXTILES LTD
Registered number: 10094215
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 4,235 5,293
Current assets
Stocks 14,405 13,160
Debtors 4 23,337 18,243
Cash at bank and in hand 54,865 37,966
92,607 69,369
Creditors: amounts falling due within one year 5 (11,877) (11,663)
Net current assets 80,730 57,706
Total assets less current liabilities 84,965 62,999
Creditors: amounts falling due after more than one year 6 (12,133) (16,900)
Net assets 72,832 46,099
Capital and reserves
Called up share capital 100 100
Profit and loss account 72,732 45,999
Shareholders' funds 72,832 46,099
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.
Mrs Yuksel Gul
Director
Approved by the board on 28 November 2024
SAMPLE TEXTILES LTD
Notes to the Accounts
for the year ended 31 March 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.
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:
Plant and machinery 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 4,124 9,739 13,863
At 31 March 2024 4,124 9,739 13,863
Depreciation
At 1 April 2023 2,127 6,443 8,570
Charge for the year 399 659 1,058
At 31 March 2024 2,526 7,102 9,628
Net book value
At 31 March 2024 1,598 2,637 4,235
At 31 March 2023 1,997 3,296 5,293
4 Debtors 2024 2023
£ £
Trade debtors 2,997 1,810
Other debtors 20,340 16,433
23,337 18,243
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 113 5,459
Taxation and social security costs 11,763 6,204
Other creditors 1 -
11,877 11,663
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 12,133 16,900
7 Controlling party
Mrs Yuksel Gul
8 Other information
SAMPLE TEXTILES LTD is a private company limited by shares and incorporated in England. Its registered office is:
11 Lawrence Road
London
England
N15 4En
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