Registered number
06564742
Pink Buddha Ltd
Filleted Accounts
30 April 2024
Pink Buddha Ltd
Registered number: 06564742
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,079 3,468
Investments 4 50 50
9,129 3,518
Current assets
Work in progress - 20,321
Debtors 5 248,417 83,750
Cash at bank and in hand 1,702 55,921
250,119 159,992
Creditors: amounts falling due within one year 6 (538,459) (484,567)
Net current liabilities (288,340) (324,575)
Total assets less current liabilities (279,211) (321,057)
Creditors: amounts falling due after more than one year 7 (30,772) (36,728)
Net liabilities (309,983) (357,785)
Capital and reserves
Called up share capital 100 100
Profit and loss account (310,083) (357,885)
Shareholder's funds (309,983) (357,785)
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.
P G Y Sun
Director
Approved by the board on 24 January 2025
Pink Buddha Ltd
Notes to the Accounts
for the year ended 30 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). The company is currently insolvent but continues to trade with the support of its Director. The company is now regularly making profits from projects and is gradually working towards becoming a solvent concern.
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.
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 at the following rates in order to write the assets off over the expected useful life:
Plant and machinery over 5 years
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 the invoice price).
Creditors
Short term creditors are measured at transaction price (which is the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
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.
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.
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
Plant and machinery etc
£
Cost
At 1 May 2023 31,884
Additions 7,503
At 30 April 2024 39,387
Depreciation
At 1 May 2023 28,416
Charge for the year 1,892
At 30 April 2024 30,308
Net book value
At 30 April 2024 9,079
At 30 April 2023 3,468
4 Investments
Other
investments
£
Cost
At 1 May 2023 50
At 30 April 2024 50
5 Debtors 2024 2023
£ £
Trade debtors 218,898 37,184
Other debtors 29,519 46,566
248,417 83,750
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 251,306 253,556
Trade creditors 61,539 10,960
Taxation and social security costs 41,017 15,524
Other creditors 184,597 204,527
538,459 484,567
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 30,772 36,728
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
P G Y Sun
Directors loan account 204,523 (21,978) 2,052 184,597
204,523 (21,978) 2,052 184,597
9 Related party transactions
Sunequip Ltd, who is ultimatley controlled by the same director, is owed £227,850 at 30 April 2024.
Hiatco Ltd, who is ultimatley controlled by the same director, is owed £17,500 at 30 April 2024.
10 Controlling party
The company is controlled by its director.
11 Other information
Pink Buddha Ltd is a private company limited by shares and incorporated in England. Its registered office is:
4 High Street
Stanley
Co Durham
DH9 0DQ
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