Registered number
09648760
Escudo Limited
Report and Accounts
30 June 2024
Escudo Limited
Registered number: 09648760
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 43,273 52,352
Current assets
Stocks 25,200 8,650
Debtors 4 143,852 263,734
Cash at bank and in hand 252,212 181,046
421,264 453,430
Creditors: amounts falling due within one year 5 (107,998) (68,879)
Net current assets 313,266 384,551
Total assets less current liabilities 356,539 436,903
Creditors: amounts falling due after more than one year 6 (99,723) (186,482)
Provisions for liabilities (2,864) (2,864)
Net assets 253,952 247,557
Capital and reserves
Called up share capital 100 100
Profit and loss account 253,852 247,457
Shareholder's funds 253,952 247,557
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 and delivered 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 Marcos Antonio Chacon Arcentales
Director
Approved by the board on 18 November 2024
Escudo Limited
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, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
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:
Fixtures, fittings, tools and equipment 20% Reduced balance
Stocks
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 58 39
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 66,810
Additions 1,575
At 30 June 2024 68,385
Depreciation
At 1 July 2023 14,458
Charge for the year 10,654
At 30 June 2024 25,112
Net book value
At 30 June 2024 43,273
At 30 June 2023 52,352
4 Debtors 2024 2023
£ £
Other debtors 143,852 263,734
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,953 3,683
Taxation and social security costs 85,603 31,066
Other creditors 18,442 34,130
107,998 68,879
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 70,000
Other creditors 99,723 116,482
99,723 186,482
7 Other information
Escudo Limited is a private company limited by shares and incorporated in England. Its registered office is:
20 Stoke Newington Road
London
N16 7XN
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