| True Story London Ltd |
| Notes to the Accounts |
| for the period from 7 June 2023 to 30 June 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 . Turnover includes revenue earned from the rendering of services and is recognised by reference to the stage of completion of the contract, which is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
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Creditors |
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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. |
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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. 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. |
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| 2 |
Employees |
2024 |
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| Number |
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Average number of persons employed by the company |
2 |
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| 3 |
Debtors |
2024 |
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| £ |
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Trade debtors |
223 |
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| 4 |
Creditors: amounts falling due within one year |
2024 |
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| £ |
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Other creditors |
31,711 |
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Included in creditors is £29,731 owing to the director. The loan is interest-free and there is no fixed date of repayment. The director has confirmed that the loan will only be repaid as and when cash flow permits. |
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| 5 |
Going concern |
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The company is dependent on the continued funding of its creditors in order to continue trading . |
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| 6 |
Other information |
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True Story London Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
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Devonshire House |
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Manor Way |
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Borehamwood |
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Hertfordshire |
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WD6 1QQ |