Company Registration No. 06480546 (England and Wales)
THE COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
THE COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
THE COMPANY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
999
1,224
Current assets
Debtors
4
5,679
3,935
Cash at bank and in hand
19,324
14,414
25,003
18,349
Creditors: amounts falling due within one year
5
(13,994)
(21,784)
Net current assets/(liabilities)
11,009
(3,435)
Net assets/(liabilities)
12,008
(2,211)
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
12,007
(2,212)
Total equity
12,008
(2,211)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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 year 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 and signed by the director and authorised for issue on 31 March 2022
P Curtis
Director
Company Registration No. 06480546
THE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information
The Company Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
140 Blundell Road, Luton, Bedfordshire, LU3 1SP.
1.1
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been drawn up on the basis that the company is a going concern. The validity of the going concern basis of accounting depends on the continuing support
true
of the Director and he
has confirmed that it is not his intention to withdraw his support for the company in the foreseeable future and that he will not seek repayment of his loan to the company unless the company's cashflow permits repayment to be made without jeopardising the company's position.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business
, and
is shown net of VAT
.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% on reducing balance.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.5
Cash and cash equivalents
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, and bank overdrafts.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
THE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction
costs.
Basic financial liabilities
Basic financial liabilities are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. 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 years 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 average monthly number of persons (including directors) employed by the company during the year was:
2021
2021
Number
Number
Total
1
1
THE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2021 and 31 December 2021
6,150
Depreciation and impairment
At 1 February 2021
4,926
Depreciation charged in the year
225
At 31 December 2021
5,151
Carrying amount
At 31 December 2021
999
At 31 January 2021
1,224
4
Debtors
2021
2021
Amounts falling due within one year:
£
£
Trade debtors
5,679
3,935
5
Creditors: amounts falling due within one year
2021
2021
£
£
Trade creditors
111
244
Taxation and social security
4,144
1,529
Other creditors
9,739
20,011
13,994
21,784
6
Called up share capital
2021
2021
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary shares of £1 each
1
1