Registered number
08511040
Touch of Class (Commercial) Ltd
Filleted Accounts
30 April 2024
Touch of Class (Commercial) Ltd
Registered number: 08511040
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 800
Current assets
Stocks 12,840 9,406
Debtors 5 39,231 36,413
Cash at bank and in hand 60,852 63,022
112,923 108,841
Creditors: amounts falling due within one year 6 (38,964) (38,317)
Net current assets 73,959 70,524
Total assets less current liabilities 73,959 71,324
Creditors: amounts falling due after more than one year 7 (8,000) (14,000)
Net assets 65,959 57,324
Capital and reserves
Called up share capital 100 100
Profit and loss account 65,859 57,224
Shareholders' funds 65,959 57,324
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.
Beata Wyniczenko
Director
Approved by the board on 16 January 2025
Touch of Class (Commercial) 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 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 usually the invoice price), 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 recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Current and deferred tax liabilities are not discounted.
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 auto-enrollment pension scheme are expensed in the period to which they paid.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 10
3 Intangible fixed assets £
Goodwill:
Cost
At 1 May 2023 40,000
At 30 April 2024 40,000
Amortisation
At 1 May 2023 39,200
Provided during the year 800
At 30 April 2024 40,000
Net book value
At 30 April 2024 -
At 30 April 2023 800
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years, since being aquired in 2013.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023 855
At 30 April 2024 855
Depreciation
At 1 May 2023 855
At 30 April 2024 855
Net book value
At 30 April 2024 -
5 Debtors 2024 2023
£ £
Trade debtors 34,492 31,475
Other debtors 4,739 4,938
39,231 36,413
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Trade creditors 3,058 3,252
Taxation and social security costs 7,461 10,720
Other creditors 22,445 18,345
38,964 38,317
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 8,000 14,000
8 Other information
Touch of Class (Commercial) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
20 Wood End Road
Harrow
Middx
HA1 3PP
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