COMPANY REGISTRATION NUMBER:
13750388
Filleted Unaudited Abridged Financial Statements |
|
Abridged Statement of Financial Position |
|
30 November 2022
Fixed assets
Tangible assets |
4 |
|
660,000 |
|
|
|
|
Current assets
Cash at bank and in hand |
200 |
|
|
|
|
Creditors: amounts falling due within one year |
480 |
|
|
---- |
|
Net current liabilities |
|
280 |
|
|
---------- |
Total assets less current liabilities |
|
659,720 |
|
|
|
Creditors: amounts falling due after more than one year |
|
795,225 |
|
|
---------- |
Net liabilities |
|
(
135,505) |
|
|
---------- |
|
|
|
Capital and reserves
Non-distributable reserves |
|
(
115,815) |
Profit and loss account |
|
(
19,690) |
|
|
---------- |
Shareholders deficit |
|
(
135,505) |
|
|
---------- |
|
|
|
These abridged 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 abridged statement of comprehensive income has not been delivered.
For the period ending 30 November 2022 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 abridged financial statements for the period in question in accordance with section 476
;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 30 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.
Abridged Statement of Financial Position (continued) |
|
30 November 2022
These abridged financial statements were approved by the
board of directors
and authorised for issue on
10 August 2023
, and are signed on behalf of the board by:
Company registration number:
13750388
Notes to the Abridged Financial Statements |
|
Period from 17 November 2021 to 30 November 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Micheldever Road, Lee, London, SE12 8LX.
2.
Statement of compliance
These abridged 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 abridged 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 abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4.
Tangible assets
|
£ |
Cost or valuation |
|
At 17 November 2021 |
– |
Additions |
775,815 |
Revaluations |
(
115,815) |
|
---------- |
At 30 November 2022 |
660,000 |
|
---------- |
Depreciation |
|
At 17 November 2021 and 30 November 2022 |
– |
|
---------- |
Carrying amount |
|
At 30 November 2022 |
660,000 |
|
---------- |
|
|
Tangible assets held at valuation
In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:
|
£ |
At 30 November 2022 |
|
Aggregate cost |
775,815 |
Aggregate depreciation |
– |
|
---------- |
Carrying value |
775,815 |
|
---------- |
|
|
5.
Director's advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
|
30 Nov 22 |
|
|
Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
|
|
£ |
£ |
£ |
|
Mrs S McMichael |
– |
(
795,225) |
(
795,225) |
|
|
---- |
---------- |
---------- |
|
|
|
|
|
6.
Related party transactions
Included in creditors is an amount of £795,225 owing to the
director
. This loan is interest free for which no repayment terms have been considered.