Registered number |
Registered number: | |||||||
Balance Sheet | |||||||
as at |
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Notes | 2022 | 2021 | |||||
£ | £ | ||||||
Fixed assets | |||||||
Tangible assets | 3 | - | |||||
Current assets | |||||||
Debtors | 4 | - | |||||
Cash at bank and in hand | |||||||
Creditors: amounts falling due within one year | 5 | ( |
( |
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Net current liabilities | ( |
( |
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Total assets less current liabilities | ( |
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Creditors: amounts falling due after more than one year | 6 | ( |
( |
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Net liabilities | ( |
( |
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Capital and reserves | |||||||
Called up share capital | |||||||
Profit and loss account | ( |
( |
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Shareholders' funds | ( |
( |
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G Sekhon | |||||||
Director | |||||||
Approved by the board on |
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Notes to the Accounts | ||||||||
for the period from 1 November 2021 to |
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1 | Accounting policies | |||||||
Basis of preparation | ||||||||
Going Concern | ||||||||
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The company has financial support from the shareholder. Based on this the director believes the company has adequate resources to continue in operational existence and to meet its financial obligations . Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. | ||||||||
Turnover | ||||||||
Impairment of assets | ||||||||
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below. | ||||||||
Non-financial assets | ||||||||
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. |
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Financial assets | ||||||||
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate. For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date. Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. |
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Debtors | ||||||||
Creditors | ||||||||
Taxation | ||||||||
Provisions | ||||||||
2 | Employees | 2022 | 2021 | |||||
Number | Number | |||||||
Average number of persons employed by the company | ||||||||
3 | Tangible fixed assets | |||||||
Land and buildings Leasehold | ||||||||
£ | ||||||||
Cost | ||||||||
At 1 November 2021 | ||||||||
Impairments | ( |
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At 30 October 2022 | - | |||||||
Depreciation | ||||||||
At 30 October 2022 | - | |||||||
Net book value | ||||||||
At 30 October 2022 | - | |||||||
At 31 October 2021 | ||||||||
4 | Debtors | 2022 | 2021 | |||||
£ | £ | |||||||
Other debtors | - | |||||||
5 | Creditors: amounts falling due within one year | 2022 | 2021 | |||||
£ | £ | |||||||
Bank loans and overdrafts | - | |||||||
Taxation and social security costs | - | |||||||
Amounts owed to director | 124,593 | 3,332 | ||||||
Accruals and deferred income | 1,860 | 102,723 | ||||||
Other Creditors | ||||||||
6 | Creditors: amounts falling due after one year | 2022 | 2021 | |||||
£ | £ | |||||||
Bank loans | ||||||||
Bank loan relates to Bounce Back Loan scheme set up by the Government to help businesses with Covid-19. It is Government backed unsecured loan. The loan is for a period of six years. No interest is payable for the first year of the loan, and thereafter interest is charged at 2.5% per annum. | ||||||||
7 | Other information | |||||||
SEKHEM LIMITED is a private company limited by shares and incorporated in England. Its registered office is: | ||||||||
509 Stroude Road |
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Virginia Water | ||||||||
GU25 4BU |