Company No:
Contents
Note | 30.09.2024 | 31.03.2023 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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0 | 1,868 | |||
Current assets | ||||
Debtors | 4 |
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Cash at bank and in hand |
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16,843 | 13,017 | |||
Creditors: amounts falling due within one year | 5 | (
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Net current assets | 8,448 | 8,799 | ||
Total assets less current liabilities | 8,448 | 10,667 | ||
Provision for liabilities | 6 |
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Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of 2SL Limited (registered number:
Simon Robert Laslett
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.
2SL Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Tregarland Cottage, Morval, Looe, PL13 1PP, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
During 2024 the directors made the decision that the Company would cease trading in the next 12 months. As a result the financial statements have been prepared on a basis other than the going concern basis of preparation. The directors have included in the financial statements any provision for future costs of terminating the business, which were committed to at the balance sheet date and where appropriate the Company's assets have been written down to their net realisable value.
The reporting period length for the period has been extended to 18 months at the decision of the directors. This was done as the company is ceasing to trade. Therefore, the 2023 comparative amounts presented in the financial statements (excluding the related notes) are not entirely comparable.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Fixtures and fittings |
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Computer equipment |
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Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Period from 01.04.2023 to 30.09.2024 |
Year ended 31.03.2023 |
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Number | Number | ||
Monthly average number of persons employed by the Company during the period, including directors |
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Fixtures and fittings | Computer equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 April 2023 |
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Disposals | (
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At 30 September 2024 |
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Accumulated depreciation | |||||
At 01 April 2023 |
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Charge for the financial period |
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Disposals | (
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At 30 September 2024 |
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Net book value | |||||
At 30 September 2024 |
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At 31 March 2023 |
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30.09.2024 | 31.03.2023 | ||
£ | £ | ||
VAT recoverable |
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Other debtors |
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30.09.2024 | 31.03.2023 | ||
£ | £ | ||
Accruals |
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Corporation tax |
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Other taxation and social security |
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30.09.2024 | 31.03.2023 | ||
£ | £ | ||
At the beginning of financial period/year | (
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Credited/(charged) to the Statement of Income and Retained Earnings |
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At the end of financial period/year |
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30.09.2024 | 31.03.2023 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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