Registered number |
13225351 |
FEESIER LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29 FEBRUARY 2024 |
PAGES FOR FILING WITH REGISTRAR |
FEESIER LTD | |||
CONTENTS | |||
Page | |||
Balance sheet | 1 | ||
Notes to the financial statements | 2 - 4 | ||
Balance Sheet | |||||||
as at |
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Company Registration No. | 13225351 | ||||||
Notes | 2024 | 2023 | |||||
£ | £ | ||||||
Current assets | |||||||
Debtors | 3 | - | |||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 4 | ( |
( |
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Net current liabilities | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholders' funds | ( |
( |
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………………………………….. | |||||||
Lev Klyuvgant | |||||||
Director | |||||||
Approved by the board on |
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NOTES TO THE FINANCIAL STATEMENTS | ||||||||
FOR THE YEAR ENDED 29 FEBRUARY 2024 | ||||||||
1 | Accounting policies | |||||||
Basis of preparation | ||||||||
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below. |
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Going concern | ||||||||
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the company being able to trade profitably in the future and the continued support of the company directors who are also the shareholders. The financial statements do not include any adjustments that would result if the company continued to make losses and such support were withdrawn. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amounts, provide for further liabilities that may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The shareholders and directors have expressed their willingness to continue supporting the company for the foreseeable future and hence it is appropriate for the financial statements to be prepared on a going concern basis. |
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Turnover | ||||||||
Financial instruments | ||||||||
Financial instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective of impairments found, an impairment loss is recognised in profit and loss accounts. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets | ||||||||
Derecognition of financial assets | ||||||||
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. | ||||||||
Basic financial liabilities | ||||||||
Derecognition of financial liabilities | ||||||||
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled. | ||||||||
Cash and cash equivalents | ||||||||
Taxation | ||||||||
Current tax | ||||||||
2 | Employees | 2024 | 2023 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Debtors | 2024 | 2023 | |||||
£ | £ | |||||||
Trade debtors | - | |||||||
4 | Creditors: amounts falling due within one year | 2024 | 2023 | |||||
£ | £ | |||||||
Convertible loans | ||||||||
Directors' current accounts | ||||||||
Other creditors | ||||||||
In December 2021, the company issued £18,500 (£6,000 at 7% p.a., £10,000 at 6% p.a. and £2,500 at 7% p.a.) unsecured loan notes repayable in December 2023. The loan of £11,200 has been repaid during the year. The remaining loans have been extended for a period of one year (£2,500 at 7% p.a. and £6,000 at 7% p.a.). Until the notes are redeemed in accordance with this instrument and the conditions, the company will pay to the relevant noteholder interest on the principal amount of the notes in accordance with the conditions. The directors are with the view that these loans will be repaid within one year from the balance sheet date. | ||||||||
5 | Other information | |||||||
Feesier Ltd is a private company limited by shares and incorporated in England and Wales. The registered office is: 71-75 Shelton Street , London, Greater London, WC2H 9JQ. |