Registered number
SC625583
Form & Function Digital Co-operative Ltd
Filleted Accounts
5 April 2024
Form & Function Digital Co-operative Ltd
Registered number: SC625583
Balance Sheet
as at 5 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,750 2,188
Current assets
Debtors 4 535 9,972
Cash at bank and in hand 399 5,916
934 15,888
Creditors: amounts falling due within one year 5 (2,516) (6,160)
Net current (liabilities)/assets (1,582) 9,728
Net assets 168 11,916
Capital and reserves
Called up share capital 3 3
Profit and loss account 165 11,913
Shareholders' funds 168 11,916
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.
Christopher John Booth
Director
Approved by the board on 4 January 2025
Form & Function Digital Co-operative Ltd
Notes to the Accounts
for the year ended 5 April 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Computer equipment 20% reducing balance
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Computer Equipment
£
Cost
At 6 April 2023 4,267
At 5 April 2024 4,267
Depreciation
At 6 April 2023 2,079
Charge for the year 438
At 5 April 2024 2,517
Net book value
At 5 April 2024 1,750
At 5 April 2023 2,188
4 Debtors 2024 2023
£ £
Trade debtors 535 9,961
Other debtors - 11
535 9,972
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs - 5,776
Other creditors 2,516 384
2,516 6,160
6 Other information
Form & Function Digital Co-operative Ltd is a private company limited by shares and incorporated in Scotland. Its registered office is:
7 Rosefield Avenue
Edinburgh
EH15 1AT
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