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Registered number: 09623816
Handsling Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Farringdon & Co
Chartered Accountants
176 Franciscan Road
London
SW17 8HH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09623816
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 104,116 22,583
104,116 22,583
CURRENT ASSETS
Stocks 6 372,045 577,013
Debtors 7 24,150 18,690
Cash at bank and in hand 21,274 58,692
417,469 654,395
Creditors: Amounts Falling Due Within One Year 8 (692,757 ) (555,168 )
NET CURRENT ASSETS (LIABILITIES) (275,288 ) 99,227
TOTAL ASSETS LESS CURRENT LIABILITIES (171,172 ) 121,810
Creditors: Amounts Falling Due After More Than One Year 9 (53,655 ) (76,793 )
NET (LIABILITIES)/ASSETS (224,827 ) 45,017
CAPITAL AND RESERVES
Called up share capital 10 1 1
Share premium account 762,680 495,421
Profit and Loss Account (987,508 ) (450,405 )
SHAREHOLDERS' FUNDS (224,827) 45,017
Page 1
Page 2
For the year ending 31 May 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 S M WHITEN
Director
24/02/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Handsling Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09623816 . The registered office is 176 Franciscan Road Tooting, London, SW17 8HH.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
  • Websites   20% SL
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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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:
Plant & Machinery 25% SL
Fixtures & Fittings 20% SL
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 8)
16 8
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 5,000
As at 31 May 2024 5,000
Amortisation
As at 1 June 2023 5,000
As at 31 May 2024 5,000
Net Book Value
As at 31 May 2024 -
As at 1 June 2023 -
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 June 2023 38,681 19,696 58,377
Additions 96,850 21,338 118,188
As at 31 May 2024 135,531 41,034 176,565
...CONTINUED
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Depreciation
As at 1 June 2023 25,025 10,769 35,794
Provided during the period 28,765 7,890 36,655
As at 31 May 2024 53,790 18,659 72,449
Net Book Value
As at 31 May 2024 81,741 22,375 104,116
As at 1 June 2023 13,656 8,927 22,583
6. Stocks
2024 2023
£ £
Stock 372,045 577,013
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 24,150 18,690
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 25,631 23,869
Bank loans and overdrafts 83,914 61,654
Other creditors 549,600 424,508
Taxation and social security 33,612 45,137
692,757 555,168
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 53,655 76,793
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
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