Really Simple Ideas Ltd - Accounts

Really Simple Ideas Ltd - Accounts

REALLY SIMPLE IDEAS LTD - Company Information

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Registered Number: 07098167
England and Wales

 

 

 

REALLY SIMPLE IDEAS LTD


Abridged Accounts
 


Period of accounts

Start date: 01 January 2019

End date: 31 December 2019

Really Simple Ideas Ltd
Contents Page
For the year ended 31 December 2019
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 December 2019 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
RSZ Accountancy
31 December 2019



....................................................
RSZ Accountancy
Archdeacons House
Northgate Street
Ipswich
IP1 3BX
08 October 2020
1
 
 		 Notes
 		 2019
£		   2018
£
Fixed assets      
Tangible fixed assets 2 2,246    5,170 
2,246    5,170 
Current assets      
Stocks 126,578    80,179 
Debtors: amounts falling due within one year 43,241    29,554 
Cash at bank and in hand 13,047    29,959 
182,866    139,692 
Creditors: amount falling due within one year 92,895    (4,888)
Net current assets 275,761    134,804 
 
Total assets less current liabilities 278,007    139,974 
Net assets 278,007    139,974 
 

Capital and reserves 		     
Called up share capital 100    100 
Profit and loss account 277,907    139,874 
Shareholders funds 278,007    139,974 
 


For the year ended 31 December 2019 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006 the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 08 October 2020 and were signed by:


--------------------------------
Cara Sayer
Director
2
General Information
Really Simple Ideas Ltd is a private company, limited by shares , registered in England and Wales , registration number 07098167 , registration address 20-22 Wenlock Road, London, N1 7GU.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Straight Line
Computer Equipment 25% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Total
  £   £   £
At 01 January 2019 5,068    10,369    15,437 
Additions 42    -    42 
Disposals -    -    - 
At 31 December 2019 5,110    10,369    15,479 
Depreciation
At 01 January 2019 2,480    7,787    10,267 
Charge for year 1,278    1,688    2,966 
On disposals -    -    - 
At 31 December 2019 3,758    9,475    13,233 
Net book values
Closing balance as at 31 December 2019 1,352    894    2,246 
Opening balance as at 01 January 2019 2,588    2,582    5,170 


3.

Average No of Employees

The average number of employees during the period was 1 (2018 - 1)

3