Company Registration No. 11250677 (England and Wales)
The Really Useful Poster Company Ltd
Unaudited accounts
for the period from 29 February 2020 to 28 February 2021
The Really Useful Poster Company Ltd
Unaudited accounts
Contents
The Really Useful Poster Company Ltd
Company Information
for the period from 29 February 2020 to 28 February 2021
Director
Domenico Arenare
Secretary
Domenico Arenare, ESquare Ltd
Company Number
11250677 (England and Wales)
Registered Office
VILLA HOUSE
7 HERBERT TERRACE
PENARTH
CF64 2AH
WALES
Accountants
Evans Entwistle
Villa House
7 Herbert Terrace
Penarth
Vale of Glamorgan
CF64 2AH
The Really Useful Poster Company Ltd
Statement of financial position
as at
28 February 2021
Cash at bank and in hand
9,867
3,299
Creditors: amounts falling due within one year
(25,199)
(13,419)
Net current assets
16,317
1,658
Total assets less current liabilities
16,317
1,658
Creditors: amounts falling due after more than one year
(14,415)
-
Called up share capital
1,000
1,000
Profit and loss account
902
658
Shareholders' funds
1,902
1,658
For the period ending 28 February 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 9 March 2021 and were signed on its behalf by
Domenico Arenare
Director
Company Registration No. 11250677
The Really Useful Poster Company Ltd
Notes to the Accounts
for the period from 29 February 2020 to 28 February 2021
The Really Useful Poster Company Ltd is a private company, limited by shares, registered in England and Wales, registration number 11250677. The registered office is VILLA HOUSE, 7 HERBERT TERRACE, PENARTH, CF64 2AH, WALES.
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 period, 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
3 years straight line
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The Really Useful Poster Company Ltd
Notes to the Accounts
for the period from 29 February 2020 to 28 February 2021
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Trade debtors
8,355
4,071
Accrued income and prepayments
1,469
1,482
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
9,585
-
Trade creditors
4,313
3,235
Taxes and social security
6,625
154
Other creditors
3,000
3,000
Loans from directors
-
5,627
7
Creditors: amounts falling due after more than one year
2021
2020
The Really Useful Poster Company Ltd
Notes to the Accounts
for the period from 29 February 2020 to 28 February 2021
8
Share capital
2021
2020
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
director's loan
(5,627)
45,416
28,000
11,789
(5,627)
45,416
28,000
11,789
The company extended an interest-free loan to the director. The loan is unsecured and repayable on demand. The balance outstanding as at year end is £11,789 (2020: £5,627 credit).
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Average number of employees
During the period the average number of employees was 1 (2020: 1).