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COMPANY REGISTRATION NUMBER: 12421205
4ubudu Limited
Filleted Unaudited Financial Statements
For the year ended
31 January 2024
4ubudu Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
610,337
617,092
Current assets
Debtors
5
227
212
Cash at bank and in hand
2,397
466
-------
----
2,624
678
Creditors: amounts falling due within one year
6
244,686
239,467
---------
---------
Net current liabilities
242,062
238,789
---------
---------
Total assets less current liabilities
368,275
378,303
Creditors: amounts falling due after more than one year
7
410,032
416,040
---------
---------
Net liabilities
( 41,757)
( 37,737)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 41,857)
( 37,837)
--------
--------
Shareholders deficit
( 41,757)
( 37,737)
--------
--------
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 income and retained earnings has not been delivered.
For the year ending 31 January 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 .
4ubudu Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 12 December 2024 , and are signed on behalf of the board by:
P R Socha
Director
Company registration number: 12421205
4ubudu Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 3 Wellbrook Court, Girton, Cambridge, CB3 0NA.
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 measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors will continue to fund the working capital of the business for the next 12 months and will not demand repayment of their loan. The directors believe preparing the financial statements as a going concern is appropriate.
Revenue recognition
Turnover includes rent receivable.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Investment Property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss, with any unrealised gains or losses at the balance sheet date being subsequently transferred to a separate non-distributable revaluation reserve.
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
-
25% straight line
Equipment
-
25% straight line
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Tangible assets
Investment property
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 February 2023 and 31 January 2024
606,003
26,263
756
633,022
---------
--------
----
---------
Depreciation
At 1 February 2023
15,581
349
15,930
Charge for the year
6,566
189
6,755
---------
--------
----
---------
At 31 January 2024
22,147
538
22,685
---------
--------
----
---------
Carrying amount
At 31 January 2024
606,003
4,116
218
610,337
---------
--------
----
---------
At 31 January 2023
606,003
10,682
407
617,092
---------
--------
----
---------
5. Debtors
2024
2023
£
£
Other debtors
227
212
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
6,548
6,862
Trade creditors
2,400
2,383
Other creditors
235,738
230,222
---------
---------
244,686
239,467
---------
---------
Creditors are secured by way of charges over the investment properties of the company.
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
410,032
416,040
---------
---------
Creditors are secured by way of charges over the investment properties of the company .
8. Employee numbers
The average number of persons employed by the company during the year amounted to nil (2023: nil).