The Limit Ted Company Limited
Statement of financial position
as at
31 August 2021
Tangible assets
401,739
402,483
Cash at bank and in hand
2,691
5,950
Creditors: amounts falling due within one year
(150,784)
(146,783)
Net current liabilities
(148,093)
(140,833)
Total assets less current liabilities
253,646
261,650
Creditors: amounts falling due after more than one year
(343,946)
(345,107)
Provisions for liabilities
Deferred tax
(2,230)
(2,371)
Net liabilities
(92,530)
(85,828)
Called up share capital
100
100
Profit and loss account
(92,630)
(85,928)
Shareholders' funds
(92,530)
(85,828)
For the year ending 31 August 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 directors acknowledge their 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 of Directors and authorised for issue on 27 May 2022 and were signed on its behalf by
L Gough
Director
Company Registration No. 06683143
The Limit Ted Company Limited
Notes to the Accounts
for the year ended 31 August 2021
The Limit Ted Company Limited is a private company, limited by shares, registered in England and Wales, registration number 06683143. The registered office is The Corner House, 4 Beaumont Road, Church Stretton, Shropshire, SY6 6BN, United Kingdom.
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 year, 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.
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:
Land & buildings
5% per annum reducing balance on improvements
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
25% per annum reducing balance
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 September 2020
409,517
4,269
413,786
At 31 August 2021
409,517
4,269
413,786
At 1 September 2020
7,161
4,142
11,303
Charge for the year
618
126
744
At 31 August 2021
7,779
4,268
12,047
At 31 August 2021
401,738
1
401,739
At 31 August 2020
402,356
127
402,483
The Limit Ted Company Limited
Notes to the Accounts
for the year ended 31 August 2021
5
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
12,449
5,009
Loans from directors
135,352
141,257
6
Creditors: amounts falling due after more than one year
2021
2020
Bank loans
343,946
345,107
7
Average number of employees
During the year the average number of employees was 0 (2020: 0).