Contents of the Financial Statements
for the Period Ended 30 November 2024
Balance sheet
As at
30 November 2024
|
Notes
|
13 months to 30 November 2024
|
|
|
£
|
| Fixed assets |
| Tangible assets: |
3 |
3,200
|
| Total fixed assets: |
|
3,200
|
| Current assets |
| Debtors: |
|
1,273
|
| Cash at bank and in hand: |
|
4,567
|
| Total current assets: |
|
5,840
|
| Creditors: amounts falling due within one year: |
|
(5,695)
|
| Net current assets (liabilities): |
|
145
|
| Total assets less current liabilities: |
|
3,345
|
| Total net assets (liabilities): |
|
3,345
|
| Capital and reserves |
| Called up share capital: |
|
1
|
| Profit and loss account: |
|
3,344
|
| Shareholders funds: |
|
3,345
|
The notes form part of these financial statements
Balance sheet statements
For the year ending 30 November 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit & loss account.
This report was approved by the board of directors on
30 August 2025
and signed on behalf of the board by:
Name:
D.A. Davidson-Giwa (Mrs)
Status: Director
The notes form part of these financial statements
Notes to the Financial Statements
for the Period Ended 30 November 2024
1. Accounting policies
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102Turnover policy
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or
receivable, excluding discounts, rebates, value added tax and other sales taxes.Tangible fixed assets and depreciation policy
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Equipment, Fixtures and fittings - 5 years
IT/computers - 5 years
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.Other accounting policies
Current and deferred taxation:
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that
a charge attributable to an item of income and expense recognised as other comprehensive income or to an item
recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or
substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by
the reporting date, except that:
(a)The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered
against the reversal of deferred tax liabilities or other future taxable profits; and
(b) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances
have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business
combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and
the future tax deductions available for them and the differences between the fair values of liabilities acquired and
the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been
enacted or substantively enacted by the reporting date.
Notes to the Financial Statements
for the Period Ended 30 November 2024
2. Employees
|
13 months to 30 November 2024 |
| Average number of employees during the period |
1
|
Notes to the Financial Statements
for the Period Ended 30 November 2024
3. Tangible Assets
|
Total |
| Cost |
£ |
| Additions |
4,000
|
| At 30 November 2024 |
4,000
|
| Depreciation |
|
| Charge for year |
800
|
| At 30 November 2024 |
800
|
| Net book value |
|
| At 30 November 2024 |
3,200
|
Notes to the Financial Statements
for the Period Ended 30 November 2024
4. Financial commitments
Financial instruments:
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset, and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Notes to the Financial Statements
for the Period Ended 30 November 2024
5. Related party transactions
Controlling party:
The ultimate controlling party is the shareholder and director of the Company.
Notes to the Financial Statements
for the Period Ended 30 November 2024
6. Post balance sheet events
There have not been any significant events after the balance sheet date which require disclosure of or an adjustment in the financial statements.