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Registered number: 13508006
Loose Cannons Group Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2024
Accountancy Solutions (Northern) Ltd
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2
Page 1
Balance Sheet
Registered number: 13508006
2024 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 36,531 21,512
Cash at bank and in hand 16,662 10,359
53,193 31,871
Creditors: Amounts Falling Due Within One Year 5 (33,491 ) (22,468 )
NET CURRENT ASSETS (LIABILITIES) 19,702 9,403
TOTAL ASSETS LESS CURRENT LIABILITIES 19,702 9,403
NET ASSETS 19,702 9,403
CAPITAL AND RESERVES
Called up share capital 6 10 10
Profit and Loss Account 19,692 9,393
SHAREHOLDERS' FUNDS 19,702 9,403
For the year ending 31 July 2024 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 his 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
Mr Wayne Rigg
Director
03/01/2025
The notes on page 2 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Loose Cannons Group Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13508006 . The registered office is 35 Sallyport House, City Road, NE1 2AE.
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
2024 2023
£ £
Due within one year
Other debtors 36,531 21,512
5. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other creditors 30,958 21,552
Taxation and social security 2,533 916
33,491 22,468
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 10 10
Page 2