Speedy Speedy Limited
Unaudited Financial Statements
For Filing with Registrar
For the period ended 30 September 2020
Company Registration No. 09015765 (England and Wales)
Speedy Speedy Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
Speedy Speedy Limited
Balance Sheet
As at 30 September 2020
Page 1
30 September 2020
31 March 2019
Notes
£
£
£
£
Current assets
Debtors
3
100
117,836
Cash at bank and in hand
2,204
2,202
2,304
120,038
Creditors: amounts falling due within one year
4
(1,757)
(116,991)
Net current assets
547
3,047
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
447
2,947
Total equity
547
3,047
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the board of directors and authorised for issue on 28 June 2021 and are signed on its behalf by:
R E Elliot
Director
Company Registration No. 09015765
Speedy Speedy Limited
Notes to the Financial Statements
For the period ended 30 September 2020
Page 2
1
Accounting policies
Company information
Speedy Speedy Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Devonshire House, 60 Goswell Road, London, EC1M 7AD.
1.1
Accounting convention
These financial statements have been prepared in accordance with section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
The company reporting date was changed to 30 September to align with related companies under common control. The current period is 18 months from 1 April 2019 to 30 September 2020. The comparative period was 12 months from 1 April 2018 to 31 March 2019. Therefore
comparative amounts presented in the financial statements (including
the related notes) are not entirely comparable.
1.3
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less
.
.
1.4
Financial instruments
Basic financial instruments are measured at cost. The company has no other financial instruments or basic financial instruments measured at fair value.
1.5
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.6
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other periods
and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The company had no employees in the current or prior year.
Speedy Speedy Limited
Notes to the Financial Statements (Continued)
For the period ended 30 September 2020
Page 3
3
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
100
117,836
4
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
119
Corporation tax
123
123
Other creditors
1,634
116,749
1,757
116,991
5
Called up share capital
2020
2019
£
£
Ordinary share capital
Issued and fully paid
100 ordinary shares of £1 each
100
100
100
100
6
Related party transactions
During the period
the company was charged a management fee of
£678
(201
9:
£
1,000)
by a company under common control. At the balance sheet date the company was owed £
nil
(201
9
: £
117,506
) from companies under common control. At the balance sheet date the company owed £
678
(201
9
: £
114,996
) to companies under common control.
7
Controlling party
The company is controlled by M C Denmark, the majority shareholder.