COMPANY REGISTRATION NUMBER:
02119475
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
30 April 2022
|
30 Apr 22
|
31 Mar 21
|
Note
|
£
|
£
|
|
|
|
Current assets
Stocks
|
–
|
203,471
|
Debtors
|
5
|
–
|
36
|
Cash at bank and in hand
|
378,235
|
1,641
|
|
---------
|
---------
|
|
378,235
|
205,148
|
|
|
|
|
Creditors: amounts falling due within one year
|
6
|
189,261
|
202,884
|
|
---------
|
---------
|
Net current assets
|
188,974
|
2,264
|
|
---------
|
-------
|
Total assets less current liabilities
|
188,974
|
2,264
|
|
---------
|
-------
|
Net assets
|
188,974
|
2,264
|
|
---------
|
-------
|
|
|
|
|
Capital and reserves
Called up share capital
|
7
|
100
|
100
|
Profit and loss account
|
8
|
188,874
|
2,164
|
|
---------
|
-------
|
Shareholders funds
|
188,974
|
2,264
|
|
---------
|
-------
|
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued)
|
|
30 April 2022
These financial statements were approved by the
board of directors
and authorised for issue on
14 December 2022
, and are signed on behalf of the board by:
Company registration number:
02119475
Notes to the Financial Statements
|
|
Period from 1 April 2021 to 30 April 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tree Tops, Hunters Ride, Lawnswood, Stourbridge, West Midlands, DY7 5QN, United Kingdom.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The current accounting period is a 13 month period therefore the accounts may not be entirely comparable with the prior year.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. (c) No disclosure has been given for the aggregate remuneration of key management personnel.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
5
(2021:
5
).
5.
Debtors
|
30 Apr 22
|
31 Mar 21
|
|
£
|
£
|
Other debtors
|
–
|
36
|
|
----
|
----
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
30 Apr 22
|
31 Mar 21
|
|
£
|
£
|
Accruals and deferred income
|
2,051
|
–
|
Corporation tax
|
42,826
|
–
|
Director loan accounts
|
142,384
|
–
|
Other creditors
|
2,000
|
202,884
|
|
---------
|
---------
|
|
189,261
|
202,884
|
|
---------
|
---------
|
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
30 Apr 22
|
31 Mar 21
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
100
|
100
|
100
|
100
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
8.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses, net of dividends paid and other adjustments.
9.
Directors' advances, credits and guarantees
At the year end, the Company owed £144,384 (2021 - £202,884) to the directors. Amounts advanced totalled £2,000 (2021 - £60,710) and amounts repaid totalled £60,500 (2021 - £6,500). The loan is interest free and repayable to the directors on demand.