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Registered number: 13784717
How To Basically Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Merranti Accounting Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13784717
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 21,077 23,395
21,077 23,395
CURRENT ASSETS
Debtors 5 10,806 590
Cash at bank and in hand 2,764 5,628
13,570 6,218
Creditors: Amounts Falling Due Within One Year 6 (101,879 ) (92,202 )
NET CURRENT ASSETS (LIABILITIES) (88,309 ) (85,984 )
TOTAL ASSETS LESS CURRENT LIABILITIES (67,232 ) (62,589 )
NET LIABILITIES (67,232 ) (62,589 )
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account (67,233 ) (62,590 )
SHAREHOLDERS' FUNDS (67,232) (62,589)
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Justin Kelly
Director
14 February 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
How To Basically Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13784717 . The registered office is Town Place Farm Sloop Lane, Haywards Heath, West Sussex, RH17 7NP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fit-out costs 10% reducing balance
Plant & Machinery 25% reducing balance
Computer Equipment 25% reducing balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Tangible Assets
Land & Property
Fit-out costs Plant & Machinery Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2024 25,271 1,213 3,583 30,067
Additions - 613 - 613
As at 31 December 2024 25,271 1,826 3,583 30,680
Depreciation
As at 1 January 2024 4,801 303 1,568 6,672
Provided during the period 2,047 381 503 2,931
As at 31 December 2024 6,848 684 2,071 9,603
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 December 2024 18,423 1,142 1,512 21,077
As at 1 January 2024 20,470 910 2,015 23,395
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 10,416 200
Other debtors 390 390
10,806 590
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 958 803
Other creditors 100,921 91,399
101,879 92,202
Page 4