Registered number
10511841
Freedom Showers Ltd
Unaudited Filleted Accounts
30 April 2024
Freedom Showers Ltd
Registered number: 10511841
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 12,953 15,239
Current assets
Stocks 19,064 38,879
Debtors 4 23,201 19,861
Cash at bank and in hand 113,909 80,257
156,174 138,997
Creditors: amounts falling due within one year 5 (35,404) (24,449)
Net current assets 120,770 114,548
Net assets 133,723 129,787
Capital and reserves
Called up share capital 2 2
Profit and loss account 133,721 129,785
Shareholders' funds 133,723 129,787
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.
Mr A W Ridges
Director
Approved by the board on 28 January 2025
Freedom Showers 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).
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.
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, as follows:
Plant and machinery 15% reducing balance
Computers 33% straight line
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
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 4 4
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 26,465
At 30 April 2024 26,465
Depreciation
At 1 May 2023 11,226
Charge for the year 2,286
At 30 April 2024 13,512
Net book value
At 30 April 2024 12,953
At 30 April 2023 15,239
4 Debtors 2024 2023
£ £
Trade debtors 17,011 16,043
VAT 4,698 3,818
Prepayments 1,492 -
23,201 19,861
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors Current Accounts 21,325 6,325
Taxation and social security costs 12,961 16,674
Other creditors 1,118 1,450
35,404 24,449
6 Other information
Freedom Showers Ltd is a private company limited by shares and incorporated in England. Its registered office is:
12 Yr Aber
Holywell
Flintshire
CH8 7RN
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