Registered number
11632518
Your Buddy's World Limited
Unaudited Filleted Accounts
31 October 2024
Your Buddy's World Limited
Registered number: 11632518
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 30,000 30,000
Tangible assets 4 204,039 191,806
234,039 221,806
Current assets
Debtors 5 3,453 6,947
Cash at bank and in hand 42,982 25,975
46,435 32,922
Creditors: amounts falling due within one year 6 (13,904) (14,883)
Net current assets 32,531 18,039
Total assets less current liabilities 266,570 239,845
Creditors: amounts falling due after more than one year 7 (210,439) (194,141)
Net assets 56,131 45,704
Capital and reserves
Called up share capital 100 100
Profit and loss account 56,031 45,604
Shareholders' funds 56,131 45,704
The directors are 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 directors acknowledge their 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.
Jackie Mitchell
Director
Approved by the board on 30 October 2025
Your Buddy's World Limited
Notes to the Accounts
for the year ended 31 October 2024
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Freehold buildings over 50 years
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 5
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 50,000
At 31 October 2024 50,000
Amortisation
At 1 November 2023 20,000
At 31 October 2024 20,000
Net book value
At 31 October 2024 30,000
At 31 October 2023 30,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2023 180,000 27,488 17,839 225,327
Additions - 19,915 - 19,915
At 31 October 2024 180,000 47,403 17,839 245,242
Depreciation
At 1 November 2023 - 20,605 12,916 33,521
Charge for the year - 7,344 338 7,682
At 31 October 2024 - 27,949 13,254 41,203
Net book value
At 31 October 2024 180,000 19,454 4,585 204,039
At 31 October 2023 180,000 6,883 4,923 191,806
5 Debtors 2024 2023
£ £
Trade debtors 3,453 6,947
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors (43) 247
Taxation and social security costs (8,103) (5,214)
Other creditors 22,050 19,850
13,904 14,883
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 62,907 64,534
Other creditors 147,532 129,607
210,439 194,141
8 Other information
Your Buddy's World Limited is a private company limited by shares and incorporated in England. Its registered office is:
Catton
Swadlincote
DE12 8LW
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