77K Limited Filleted accounts for Companies House (small and micro)

77K Limited Filleted accounts for Companies House (small and micro)

77K LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 09110363
77K Limited
Filleted Unaudited Abridged Financial Statements
31 July 2019
77K Limited
Abridged Financial Statements
Year ended 31 July 2019
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
77K Limited
Abridged Statement of Financial Position
31 July 2019
2019
2018
Note
£
£
£
Current assets
Debtors
1,650,802
32,599
Cash at bank and in hand
854,254
118,997
------------
---------
2,505,056
151,596
Creditors: amounts falling due within one year
2,489,666
101,846
------------
---------
Net current assets
15,390
49,750
--------
--------
Total assets less current liabilities
15,390
49,750
--------
--------
Net assets
15,390
49,750
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
15,290
49,650
--------
--------
Shareholders funds
15,390
49,750
--------
--------
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 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 income and retained earnings has not been delivered.
For the year ending 31 July 2019 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 year 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 abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 July 2019 in accordance with Section 444(2A) of the Companies Act 2006.
77K Limited
Abridged Statement of Financial Position (continued)
31 July 2019
These abridged financial statements were approved by the board of directors and authorised for issue on 27 April 2020 , and are signed on behalf of the board by:
Mr M Shahab
Director
Company registration number: 09110363
77K Limited
Notes to the Abridged Financial Statements
Year ended 31 July 2019
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 151 Askew Road, London, W12 9AU, UK.
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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2018: 4 ).
5. Related party transactions
No related party transactions during the year.