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Registered number: 09028017
My Retro Computer Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Heelan Associates Ltd
1 The Briars
Waterberry Drive
Waterlooville
Hampshire
PO7 7YH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09028017
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 106 176
Tangible Assets 5 1,630 3,008
1,736 3,184
CURRENT ASSETS
Stocks 6 200 11,700
Debtors 7 3,271 4,054
Cash at bank and in hand 1,977 15,133
5,448 30,887
Creditors: Amounts Falling Due Within One Year 8 (95,903 ) (91,474 )
NET CURRENT ASSETS (LIABILITIES) (90,455 ) (60,587 )
TOTAL ASSETS LESS CURRENT LIABILITIES (88,719 ) (57,403 )
NET LIABILITIES (88,719 ) (57,403 )
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account (88,819 ) (57,503 )
SHAREHOLDERS' FUNDS (88,719) (57,403)
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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 Sean Donohue
Director
18 February 2025
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
My Retro Computer Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09028017 . The registered office is 1 The Briars, Waterberry DRive, Waterlooville, PO7 7YH.
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. 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.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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 over 5 years
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: 1 (2023: 1)
1 1
4. Intangible Assets
Other
£
Cost
As at 1 June 2023 375
As at 31 May 2024 375
Amortisation
As at 1 June 2023 199
Provided during the period 70
As at 31 May 2024 269
Net Book Value
As at 31 May 2024 106
As at 1 June 2023 176
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5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 June 2023 7,519
Additions 156
As at 31 May 2024 7,675
Depreciation
As at 1 June 2023 4,511
Provided during the period 1,534
As at 31 May 2024 6,045
Net Book Value
As at 31 May 2024 1,630
As at 1 June 2023 3,008
6. Stocks
2024 2023
£ £
Stock 200 11,700
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,450 3,445
Other debtors 821 609
3,271 4,054
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 122 29,829
Bank loans and overdrafts - 43,477
Other loans 74,077 -
Other creditors 21,704 15,079
Taxation and social security - 3,089
95,903 91,474
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Related Party Transactions
Included within other creditors is the amount of £21,704 owed to the director. This amount is undated, unsecured, interest free and repayable upon demand.
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11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Sean Donohue by virtue of his ownership of 100% of the issued share capital in the company.
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