COMPANY REGISTRATION NUMBER:
12794417
Filleted Unaudited Financial Statements
|
|
Statement of Financial Position
|
|
31 August 2021
Fixed assets
Tangible assets
|
5
|
188,717
|
|
|
|
Current assets
Cash at bank and in hand
|
5,531
|
|
|
Creditors: amounts falling due within one year
|
6
|
207,830
|
|
---------
|
Net current liabilities
|
202,299
|
|
---------
|
Total assets less current liabilities
|
(
13,582)
|
|
--------
|
Net liabilities
|
(
13,582)
|
|
--------
|
|
|
|
Capital and reserves
Called up share capital
|
7
|
100
|
Profit and loss account
|
(
13,682)
|
|
--------
|
Shareholders deficit
|
(
13,582)
|
|
--------
|
|
|
|
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 Section 1A of 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 comprehensive income has not been delivered.
For the period ending 31 August 2021 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 period in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
18 February 2022
, and are signed on behalf of the board by:
Company registration number:
12794417
Notes to the Financial Statements
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|
Period from 5 August 2020 to 31 August 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the continued support of the company's director. The director has indicated his willingness to support the company in the foreseeable future by ensuring sufficient funds are available for the company to continue trading. Therefore the director considers the going concern basis is appropriate.
Revenue recognition
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures and fittings
|
-
|
20% straight line
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|
|
|
|
Impairment of fixed assets
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. For the purposes of impairment testing, 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 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 entity 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.
4.
Average number of employees
The average number of employees for the period was 1 which consisted of the director only.
5.
Tangible assets
|
Long leasehold property
|
Fixtures and fittings
|
Total
|
|
£
|
£
|
£
|
Cost
|
|
|
|
At 5 August 2020
|
–
|
–
|
–
|
Additions
|
186,723
|
2,318
|
189,041
|
|
---------
|
-------
|
---------
|
At 31 August 2021
|
186,723
|
2,318
|
189,041
|
|
---------
|
-------
|
---------
|
Depreciation
|
|
|
|
At 5 August 2020
|
–
|
–
|
–
|
Charge for the period
|
–
|
324
|
324
|
|
---------
|
-------
|
---------
|
At 31 August 2021
|
–
|
324
|
324
|
|
---------
|
-------
|
---------
|
Carrying amount
|
|
|
|
At 31 August 2021
|
186,723
|
1,994
|
188,717
|
|
---------
|
-------
|
---------
|
|
|
|
|
6.
Creditors:
amounts falling due within one year
|
31 Aug 21
|
|
£
|
Amounts owed to undertakings in which the company has a participating interest
|
191,472
|
Accruals and deferred income
|
1,397
|
Director loan accounts
|
14,961
|
|
---------
|
|
207,830
|
|
---------
|
|
|
7.
Called up share capital
Issued, called up and fully paid
|
31 Aug 21
|
|
No.
|
£
|
Ordinary shares of £ 1 each
|
100
|
100
|
|
----
|
----
|
|
|
|
8.
Related party transactions
|
|
Increase/ decrease in balance |
Balance owing at year end Dr/(Cr) |
|
|
£ |
£ |
|
Directors |
|
|
|
31 August 2021 |
(14,961) |
(14,961) |
|
Other related parties |
|
|
|
31 August 2021 |
(191,473) |
(191,473) |
|
|
|
|