Terra Supra Ltd
Registered number: 08109753
Statement of Financial Position
as at 30 June 2024
Notes 2024 2023
£ £
Current assets
Stocks 2,468 2,468
Cash at bank and in hand 3,187 3,199
5,655 5,667
Creditors: amounts falling due within one year 3 (50,518) (49,026)
Net current liabilities (44,863) (43,359)
Net liabilities (44,863) (43,359)
Capital and reserves
Called up share capital 1 1
Profit and loss account (44,864) (43,360)
Shareholder's funds (44,863) (43,359)
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 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 M Speed
Director
Approved by the board on 21 February 2025
Terra Supra Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.
Going concern
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is continuing to trade as the director of the company is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the company for the foreseeable future.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Inventories
Inventories 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.
Creditors
Short term creditors are measured at transaction 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.
2 Employees and directors 2024 2023
Number Number
Average number of directors and persons employed by the company 1 1
3 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 636 636
Other creditors 49,882 48,390
50,518 49,026
4 Other information
Terra Supra Ltd is a private company limited by shares and incorporated in England. Its registered office is:
269 Farnborough Road
Farnborough
Hampshire
GU14 7LY
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