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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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Geoff Lee Translations Ltd. |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 |
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FOR |
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Geoff Lee Translations Ltd. |
Geoff Lee Translations Ltd. (Registered number: 04768988) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 March 2022 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 5 |
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Geoff Lee Translations Ltd. |
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COMPANY INFORMATION |
for the year ended 31 March 2022 |
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Directors: |
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Secretary: |
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Registered office: |
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Business address: |
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Registered number: |
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Accountants: |
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129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Geoff Lee Translations Ltd. (Registered number: 04768988) |
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BALANCE SHEET |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
Fixed assets |
Tangible assets | 4 |
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Current assets |
Cash at bank |
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Creditors |
Amounts falling due within one year | 5 |
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Net current (liabilities)/assets | ( |
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Total assets less current liabilities | ( |
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Capital and reserves |
Called up share capital | 6 |
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Retained earnings | ( |
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Shareholders' funds | ( |
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The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Geoff Lee Translations Ltd. (Registered number: 04768988) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Geoff Lee Translations Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Going concern |
The financial statements have been prepared on the going concern basis. This basis assumes that the company will have sufficient funding to enable it to continue to operate for the foreseeable future with the support of the director, who believes that the going concern basis of preparation remains appropriate in the company's circumstances. |
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Turnover |
Turnover represents amounts due in respect of completed translation work that is recognised on completion of the work. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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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. |
Geoff Lee Translations Ltd. (Registered number: 04768988) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
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2. | ACCOUNTING POLICIES - continued |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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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. |
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Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
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Cost |
At 1 April 2021 |
and 31 March 2022 |
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Depreciation |
At 1 April 2021 |
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Charge for year |
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At 31 March 2022 |
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Net book value |
At 31 March 2022 |
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At 31 March 2021 |
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Geoff Lee Translations Ltd. (Registered number: 04768988) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 March 2022 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Taxation and social security |
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Other creditors |
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6. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 100 | 100 |
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7. | RELATED PARTY DISCLOSURES |
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At the balance sheet date, Mr and Mrs Lee were owed £3,076 in respect of the balance on their joint directors loan account.This loan is interest free and repayable on demand. |
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8. | ULTIMATE CONTROLLING PARTY |
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The company is ultimately controlled by the directors. |