11 Shrubs Limited |
Notes to the Accounts |
for the year ended 31 July 2024 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Plant and machinery |
over 4 years |
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Stocks |
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Stocks 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. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax liabilities are not discounted. |
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2 |
Employees |
2024 |
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2023 |
Number |
Number |
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Average number of persons employed by the company |
2 |
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2 |
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3 |
Intangible fixed assets |
£ |
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Goodwill: |
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Cost |
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At 1 August 2023 |
458 |
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At 31 July 2024 |
458 |
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Amortisation |
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At 1 August 2023 |
458 |
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At 31 July 2024 |
458 |
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Net book value |
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At 31 July 2024 |
- |
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Trademark costs are being written off in equal annual instalments over its estimated economic life of 2 years. |
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4 |
Tangible fixed assets |
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Plant and machinery etc |
£ |
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Cost |
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At 1 August 2023 |
5,663 |
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At 31 July 2024 |
5,663 |
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Depreciation |
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At 1 August 2023 |
3,828 |
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Charge for the year |
1,260 |
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At 31 July 2024 |
5,088 |
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Net book value |
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At 31 July 2024 |
575 |
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At 31 July 2023 |
1,835 |
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5 |
Debtors |
2024 |
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2023 |
£ |
£ |
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Other debtors |
- |
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112 |
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6 |
Creditors: amounts falling due within one year |
2024 |
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2023 |
£ |
£ |
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Other creditors |
7,106 |
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1,743 |
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7 |
Controlling party |
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The company is controlled by J Smith by virtue of his controlling shareholding in the company. |
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8 |
Other information |
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11 Shrubs Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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19 Ascot Close |
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Lichfield |
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WS14 9XX |