Balance sheet continued

As at 31 May 2024

For the year ending 31 May 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.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The notes form part of these financial statements

Notes to the Financial Statements

for the Period Ended 31 May 2024

• 1. Accounting policies

  Basis of measurement and preparation

  These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

  Turnover policy

  Turnover comprises the fair value of the concideration recieved or recievable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

  Tangible fixed assets depreciation policy

  Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
  Depreciation is charged so as to write off the costs of assets, other than land and properties under construction over their estimated useful lives, as follows:
  Fixtures and fittings - 10% reducing balance
  Tools and equipment - 10% reducing balance
  Motor vehicles - 25% reducing balance
  Computer equipment - 20% reducing balance

  Other accounting policies

  Going concern. The company meets its day to day activities through funds provided by its director as directors loans. The director considers that these funds can continue to be made available having reviewed her own financial position and the projections of the business. On this basis the financial statements have been prepared on the going concern basis.