REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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FORMATIONS NO 102 LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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FOR |
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FORMATIONS NO 102 LTD |
FORMATIONS NO 102 LTD (REGISTERED NUMBER: 13271955) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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FORMATIONS NO 102 LTD |
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COMPANY INFORMATION |
FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants & Tax Advisers |
Fifth Floor |
11 Leadenhall Street |
London |
EC3V 1LP |
FORMATIONS NO 102 LTD (REGISTERED NUMBER: 13271955) |
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STATEMENT OF FINANCIAL POSITION |
31 MARCH 2022 |
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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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES | 6 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 7 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
FORMATIONS NO 102 LTD (REGISTERED NUMBER: 13271955) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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FORMATIONS NO 102 LTD (REGISTERED NUMBER: 13271955) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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1. | STATUTORY INFORMATION |
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Formations No 102 Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company accounting policies. |
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SIGNIFICANT JUDGEMENTS AND ESTIMATES |
In preparing the financial statements, the directors are required to make estimates and judgements about the carrying amounts of assets and liabilities along with the period over which the intangible assets will be amortised. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised. |
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TURNOVER |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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TANGIBLE FIXED ASSETS |
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Computer equipment | - |
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FORMATIONS NO 102 LTD (REGISTERED NUMBER: 13271955) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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2. | ACCOUNTING POLICIES - continued |
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FINANCIAL INSTRUMENTS |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
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TAXATION |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date. |
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FORMATIONS NO 102 LTD (REGISTERED NUMBER: 13271955) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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2. | ACCOUNTING POLICIES - continued |
DEFERRED TAX |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
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HIRE PURCHASE AND LEASING COMMITMENTS |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was NIL. |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
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Cost |
Additions |
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At 31 March 2022 |
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Depreciation |
Charge for period |
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At 31 March 2022 |
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Net book value |
At 31 March 2022 |
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5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Taxation and social security |
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Other creditors |
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6. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 257 |
FORMATIONS NO 102 LTD (REGISTERED NUMBER: 13271955) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 16 MARCH 2021 TO 31 MARCH 2022 |
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6. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Charge to Statement of Income and Retained Earnings during period |
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Balance at 31 March 2022 |
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7. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
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Ordinary | £1 | 2 |