Registered number
12462944
ONE WAY LETTINGS LTD
Filleted Accounts
29 February 2024
ONE WAY LETTINGS LTD
Registered number: 12462944
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 17,917 22,396
Current assets
Debtors 4 500 -
Cash at bank and in hand 13,540 15,882
14,040 15,882
Creditors: amounts falling due within one year 5 (13,191) (15,466)
Net current assets 849 416
Total assets less current liabilities 18,766 22,812
Creditors: amounts falling due after more than one year 6 (18,549) (22,226)
Net assets 217 586
Capital and reserves
Called up share capital 100 100
Profit and loss account 117 486
Shareholder's funds 217 586
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr Hamit Kircal
Director
Approved by the board on 25 January 2025
ONE WAY LETTINGS LTD
Notes to the Accounts
for the year ended 29 February 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.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 March 2023 27,995
At 29 February 2024 27,995
Depreciation
At 1 March 2023 5,599
Charge for the year 4,479
At 29 February 2024 10,078
Net book value
At 29 February 2024 17,917
At 28 February 2023 22,396
4 Debtors 2024 2023
£ £
Other debtors 500 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,887 8,060
Taxation and social security costs 3,176 5,406
Other creditors 7,128 2,000
13,191 15,466
6 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 18,549 22,226
7 Other information
ONE WAY LETTINGS LTD is a private company limited by shares and incorporated in England. Its registered office is:
123 Stewart Road
Bournemouth
Dorset
UK
BH8 8PA
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