Company registration number 06682893 (England and Wales)
SAME SAME BUT DIFFERENT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SAME SAME BUT DIFFERENT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SAME SAME BUT DIFFERENT LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,304
1,247
Current assets
Stocks
1,350
1,221
Debtors
4
45,533
7,323
Cash at bank and in hand
54,387
100,168
101,270
108,712
Creditors: amounts falling due within one year
5
(43,769)
(37,014)
Net current assets
57,501
71,698
Total assets less current liabilities
58,805
72,945
Creditors: amounts falling due after more than one year
6
(15,000)
(25,000)
Provisions for liabilities
(326)
(312)
Net assets
43,479
47,633
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
43,379
47,533
Total equity
43,479
47,633
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 1 April 2025
Mr R J Indge
Director
Company Registration No. 06682893
SAME SAME BUT DIFFERENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Same Same But Different Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o UHY Hacker Young, 23 Nevill Street, Abergavenny, Monmouthshire, United Kingdom, NP7 5AA.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for goods provided. Turnover is recognised on a daily basis excluding VAT to the end of the financial year. Where goods are despatched prior to the year end then turnover is recognised within that financial year.
Revenue from the sale of food items is recognised when the significant risks and rewards of ownership of the food have passed to the buyer (usually once the food items have been served), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.5
Financial instruments
Debtors and creditors with no stated interest rate and receivable ot payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expense.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
SAME SAME BUT DIFFERENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
1.7
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 10 (2023 - 10).
2024
2023
Number
Number
Total
10
10
3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 October 2023
21,159
Additions
380
At 30 September 2024
21,539
Depreciation and impairment
At 1 October 2023
19,912
Depreciation charged in the year
323
At 30 September 2024
20,235
Carrying amount
At 30 September 2024
1,304
At 30 September 2023
1,247
SAME SAME BUT DIFFERENT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
45,533
7,323
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Corporation tax
7,759
3,656
Other taxation and social security
12,853
14,866
Other creditors
13,157
8,492
43,769
37,014
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
15,000
25,000
7
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
50 Ordinary A of £1 each
50
50
50 Ordinary B of £1 each
50
50
100
100
8
Directors' transactions
Dividends totalling £37,000 (2023 - £47,420) were paid in the year in respect of shares held by the company's directors.
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Director's Loan
-
(4,580)
90,056
(46,762)
38,714
(4,580)
90,056
(46,762)
38,714