|
|
2024 |
|
2023 |
|
|
£ |
£ |
|
£ |
£ |
Fixed assets |
|
|
28,500 |
|
|
30,000 |
Current assets |
|
12,631 |
|
|
12,528 |
|
Creditors: amount falling due within one year |
|
(83,641) |
|
|
(36,117) |
|
Net current assets
|
|
|
(71,010)
|
|
|
(23,589)
|
Total assets less current liabilities
|
|
|
(42,510) |
|
|
6,411 |
Provisions for liabilities |
|
|
0 |
|
|
250 |
Net assets
|
|
|
(42,510) |
|
|
6,661 |
|
|
|
|
|
|
|
Capital and reserves
|
|
|
(42,510) |
|
|
6,661 |
|
NOTES TO THE ACCOUNTS
General Information
Press Gang Chiswick Limited is a private company, limited by shares, registered in England and Wales, registration number 11402578, registration address 3 - 4 Fromows Corner, Chiswick, W4 4HA.
The presentation currency is £ sterling.
1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
|
2. |
Intangible fixed assets
Cost |
Goodwill |
|
Other |
|
Total |
|
£ |
|
£ |
|
£ |
At 01 July 2023 |
- |
|
45,000 |
|
45,000 |
Additions |
- |
|
- |
|
- |
Disposals |
- |
|
- |
|
- |
At 30 June 2024 |
- |
|
45,000 |
|
45,000 |
Amortisation |
At 01 July 2023 |
- |
|
- |
|
- |
Charge for year |
15,000 |
|
1,500 |
|
16,500 |
On disposals |
- |
|
- |
|
- |
At 30 June 2024 |
15,000 |
|
1,500 |
|
16,500 |
Net book values |
At 30 June 2024 |
(15,000) |
|
43,500 |
|
28,500 |
At 30 June 2023 |
- |
|
45,000 |
|
45,000 |
|
3. |
Average number of employees
Average number of employees during the year was 2 (2023 : 2).
|
|
Director Account
At the year end a balance of £19, 663 was owed to the director.
The above balance is interest is interest free and no fixed date for repayment.
|
5. |
Prior Year VAT Adjustment
During the year, the company concluded a VAT investigation with HMRC relating to the period [2019 to 2023]. The investigation identified underdeclared VAT liabilities of £46,476. As the companys financial statements and tax returns for those years have already been filed and restatement is impracticable, the full adjustment has been recognised as an exceptional expense in the current year.
|
For the year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's Responsibilities: The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 27 June 2025 and were signed by: -------------------------------- Mohammed Junaid Hassan Director |
1
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