Company Registration No. 10255921 (England and Wales)
258 Merchandise Ltd
Unaudited accounts
for the year ended 31 August 2021
258 Merchandise Ltd
Unaudited accounts
Contents
258 Merchandise Ltd
Company Information
for the year ended 31 August 2021
Company Number
10255921 (England and Wales)
Registered Office
Churchill House, Suite 112
120 Bunns Lane
Mill Hill
London
NW7 2AS
UNITED KINGDOM
Accountants
Platts
Churchill House, Suite 112
120 Bunns Lane
Mill Hill
London
NW7 2AS
258 Merchandise Ltd
Statement of financial position
as at
31 August 2021
Inventories
33,597
12,521
Cash at bank and in hand
89,310
145,858
Creditors: amounts falling due within one year
(33,923)
(31,621)
Net current assets
92,460
127,251
Net assets
92,460
127,251
Called up share capital
100
100
Profit and loss account
92,360
127,151
Shareholders' funds
92,460
127,251
For the year ending 31 August 2021 the company was entitled to exemption from audit 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 10 May 2022 and were signed on its behalf by
Mr A O O Joshua
Director
Company Registration No. 10255921
258 Merchandise Ltd
Notes to the Accounts
for the year ended 31 August 2021
258 Merchandise Ltd is a private company, limited by shares, registered in England and Wales, registration number 10255921. The registered office is Churchill House, Suite 112, 120 Bunns Lane, Mill Hill, London, NW7 2AS, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
3,476
493
5
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
4,298
1,794
Other creditors
29,550
29,747
Loans from directors
29
34
258 Merchandise Ltd
Notes to the Accounts
for the year ended 31 August 2021
6
Share capital
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
7
Average number of employees
During the year the average number of employees was 1 (2020: 2).