31/03/2019
2019-03-31
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No description of principal activities is disclosed
2018-04-01
Sage Accounts Production 18.30 Update 1 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
06441937
2018-04-01
2019-03-31
06441937
2019-03-31
06441937
2018-03-31
06441937
2017-04-01
2018-03-31
06441937
2018-03-31
06441937
core:NetGoodwill
2018-04-01
2019-03-31
06441937
bus:RegisteredOffice
2018-04-01
2019-03-31
06441937
bus:LeadAgentIfApplicable
2018-04-01
2019-03-31
06441937
bus:Director1
2018-04-01
2019-03-31
06441937
bus:CompanySecretary1
2018-04-01
2019-03-31
06441937
core:NetGoodwill
2018-03-31
06441937
core:NetGoodwill
2019-03-31
06441937
core:WithinOneYear
2019-03-31
06441937
core:WithinOneYear
2018-03-31
06441937
core:ShareCapital
2019-03-31
06441937
core:ShareCapital
2018-03-31
06441937
core:RetainedEarningsAccumulatedLosses
2019-03-31
06441937
core:RetainedEarningsAccumulatedLosses
2018-03-31
06441937
core:NetGoodwill
2018-03-31
06441937
bus:Director1
2018-03-31
06441937
bus:Director1
2019-03-31
06441937
bus:Director1
2017-03-31
06441937
bus:Director1
2018-03-31
06441937
bus:Director1
2017-04-01
2018-03-31
06441937
bus:SmallEntities
2018-04-01
2019-03-31
06441937
bus:AuditExemptWithAccountantsReport
2018-04-01
2019-03-31
06441937
bus:FullAccounts
2018-04-01
2019-03-31
06441937
bus:SmallCompaniesRegimeForAccounts
2018-04-01
2019-03-31
06441937
bus:PrivateLimitedCompanyLtd
2018-04-01
2019-03-31
Company registration number:
06441937
Kids Direct Limited
Unaudited filleted financial statements
31 March 2019
Kids Direct Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Kids Direct Limited
Directors and other information
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Director
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MJ Kneale
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Secretary
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J M Kneale
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Company number
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06441937
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Registered office
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Abbey Road North
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Wrexham Industrial Estate
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Wrexham
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LL13 9RF
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Business address
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Abbey Road North
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Wrexham Industrial Estate
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Wrexham
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LL13 9RF
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Accountants
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Hargreaves & Woods
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Cholmondeley House
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Dee Hills Park
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Chester
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Cheshire
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CH3 5AR
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Bankers
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Santander
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59-61 Foregate Street
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Chester
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Cheshire
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CH1 1YQ
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Kids Direct Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Kids Direct Limited
Year ended 31 March 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kids Direct Limited for the year ended 31 March 2019 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/ regulations-standards-and-guidance/.
This report is made solely to the director of Kids Direct Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Kids Direct Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Kids Direct Limited and its director as a body for our work or for this report.
It is your duty to ensure that Kids Direct Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Kids Direct Limited. You consider that Kids Direct Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Kids Direct Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hargreaves & Woods
Chartered Accountants
Cholmondeley House
Dee Hills Park
Chester
Cheshire
CH3 5AR
8 October 2019
Kids Direct Limited
Statement of financial position
31 March 2019
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2019
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2018
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Note
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£
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£
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£
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£
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Fixed assets
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Intangible assets
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5
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11,250
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12,500
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|
|
|
|
|
_______
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|
|
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_______
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11,250
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12,500
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Current assets
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Debtors
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6
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1,096
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1,239
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Cash at bank and in hand
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1,355
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904
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_______
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_______
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2,451
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2,143
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|
Creditors: amounts falling due
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within one year
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7
|
(
3,695)
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(
5,034)
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|
_______
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_______
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Net current liabilities
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(
1,244)
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(
2,891)
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_______
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_______
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Total assets less current liabilities
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10,006
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9,609
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_______
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_______
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Net assets
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10,006
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9,609
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_______
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_______
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Capital and reserves
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Called up share capital
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50
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50
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Profit and loss account
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9,956
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9,559
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_______
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_______
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Shareholders funds
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10,006
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9,609
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_______
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_______
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For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 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.
These financial statements were approved by the
board of directors
and authorised for issue on
08 October 2019
, and are signed on behalf of the board by:
MJ Kneale
Director
Company registration number:
06441937
Kids Direct Limited
Notes to the financial statements
Year ended 31 March 2019
1.
General information
The company is a private company limited by shares, registered in UK. The address of the registered office is Abbey Road North, Wrexham Industrial Estate, Wrexham, LL13 9RF.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2018:
2
).
5.
Intangible assets
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Goodwill
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Total
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£
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£
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Cost
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At 1 April 2018 and 31 March 2019
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25,000
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25,000
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_______
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_______
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Amortisation
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At 1 April 2018
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12,500
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12,500
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Charge for the year
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1,250
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1,250
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|
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_______
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_______
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At 31 March 2019
|
13,750
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13,750
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|
|
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_______
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_______
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Carrying amount
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At 31 March 2019
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11,250
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11,250
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|
|
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_______
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_______
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|
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At 31 March 2018
|
12,500
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12,500
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|
|
|
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_______
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_______
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|
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|
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|
|
|
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6.
Debtors
|
|
|
2019
|
2018
|
|
|
|
£
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£
|
|
Trade debtors
|
|
1,096
|
1,086
|
|
Other debtors
|
|
-
|
153
|
|
|
|
_______
|
_______
|
|
|
|
1,096
|
1,239
|
|
|
|
_______
|
_______
|
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2019
|
2018
|
|
|
|
£
|
£
|
|
Corporation tax
|
|
962
|
1,333
|
|
Other creditors
|
|
2,733
|
3,701
|
|
|
|
_______
|
_______
|
|
|
|
3,695
|
5,034
|
|
|
|
_______
|
_______
|
|
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|
|
8.
Directors advances, credits and guarantees
|
During the year the director entered into the following advances and credits with the company:
|
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2019
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the director
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
MJ Kneale
|
(
2,028)
|
320
|
(
1,708)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
|
|
|
|
|
|
|
|
|
Balance brought forward
|
Advances /(credits) to the director
|
Balance o/standing
|
|
|
|
|
|
£
|
£
|
£
|
|
|
|
|
MJ Kneale
|
(
4,298)
|
2,270
|
(
2,028)
|
|
|
|
|
|
_______
|
_______
|
_______
|
|
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