Registered number
11437291
ONE STOP CORNER LTD
Filleted Accounts
30 June 2024
ONE STOP CORNER LTD
Registered number: 11437291
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 607 10,082
Current assets
Stocks - 10,500
Debtors 5 7,119 107,330
Cash at bank and in hand 711,968 701,788
719,087 819,618
Creditors: amounts falling due within one year 6 (315,149) (361,662)
Net current assets 403,938 457,956
Total assets less current liabilities 404,545 468,038
Provisions for liabilities - (2,520)
Net assets 404,545 465,518
Capital and reserves
Called up share capital 100 100
Profit and loss account 404,445 465,418
Shareholders' funds 404,545 465,518
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 members have 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.
C H Hau
Director
Approved by the board on 26 March 2025
ONE STOP CORNER 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, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 15
3 Intangible fixed assets £
Goodwill:
Cost
At 1 July 2023 15,000
At 30 June 2024 15,000
Amortisation
At 1 July 2023 15,000
At 30 June 2024 15,000
Net book value
At 30 June 2024 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 July 2023 101,506
At 30 June 2024 101,506
Depreciation
At 1 July 2023 91,424
Charge for the year 9,475
At 30 June 2024 100,899
Net book value
At 30 June 2024 607
At 30 June 2023 10,082
5 Debtors 2024 2023
£ £
Trade debtors and prepayments - 98,375
Other debtors 7,119 8,955
7,119 107,330
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors and accruals 266,710 170,333
Taxation and social security costs 48,439 191,329
315,149 361,662
7 Other information
ONE STOP CORNER LTD is a private company limited by shares and incorporated in England. Its registered office is:
111 High Street
Edgware
Middlesex
HA8 7DB
8 Post balance sheet event
The company ceased trading on 31 December 2003 and the business was disposed of as a going
concern.
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