Registered number
05295574
Sitting Spiritually Limited
Filleted Accounts
31 March 2025
Sitting Spiritually Limited
Registered number: 05295574
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 4 5,612 7,363
Current assets
Stocks 105,624 105,624
Debtors 5 203,834 218,750
Cash at bank and in hand 79,061 60,549
388,519 384,923
Creditors: amounts falling due within one year 6 (72,027) (73,198)
Net current assets 316,492 311,725
Total assets less current liabilities 322,104 319,088
Provisions for liabilities (1,066) (1,399)
Net assets 321,038 317,689
Capital and reserves
Called up share capital 10 10
Profit and loss account 321,028 317,679
Shareholders' funds 321,038 317,689
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.
M Young
Director
Approved by the board on 2 May 2025
Sitting Spiritually Limited
Notes to the Accounts
for the year ended 31 March 2025
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:
Plant and machinery 15% reducing balance
Computer equipment 33% reducing balance
Motor vehicles 25% reducing 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.
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 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2024 23,700
At 31 March 2025 23,700
Amortisation
At 1 April 2024 23,700
At 31 March 2025 23,700
Net book value
At 31 March 2025 -
Goodwill has been written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2024 7,442 16,500 23,942
At 31 March 2025 7,442 16,500 23,942
Depreciation
At 1 April 2024 5,300 11,279 16,579
Charge for the year 446 1,305 1,751
At 31 March 2025 5,746 12,584 18,330
Net book value
At 31 March 2025 1,696 3,916 5,612
At 31 March 2024 2,142 5,221 7,363
5 Debtors 2025 2024
£ £
Trade debtors 11,051 26,968
Other debtors 192,783 191,782
203,834 218,750
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 19,533 18,323
Taxation and social security costs 13,699 2,128
Other creditors 38,795 52,747
72,027 73,198
7 Controlling party
The company is controlled by the director.
8 Other information
Sitting Spiritually Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Loft
Unit 11, Hunthay Business Park
Axminster
Devon
EX13 5RJ
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