SKULL X LTD - Filleted accounts

SKULL X LTD - Filleted accounts

SKULL X LTD - Company Information

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Registered number
10757023
SKULL X LTD
Filleted Accounts
For the Year Ended 31 May 2020
SKULL X LTD
Registered number: 10757023
Balance Sheet
as at 31 May 2020
Notes 2020 2019
£ £
Fixed assets
Intangible assets 3 3,520 5,280
Current assets
Debtors 4 4,012 -
Cash at bank and in hand 17,989 13,293
22,001 13,293
Creditors: amounts falling due within one year 5 (94,398) (50,384)
Net current liabilities (72,397) (37,091)
Net liabilities (68,877) (31,811)
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account (69,877) (32,811)
Shareholders' funds (68,877) (31,811)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Aman Chopra
Director
Approved by the board on 28 May 2021
SKULL X LTD
Notes to the Accounts
for the year ended 31 May 2020
1 Accounting policies
Basis of preparation
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).
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Going Concern
The accounts are preared on a going concern basis notwithstanding the fact that the company balance sheet has a negative quity, on the ground that the director will continue to support the company financially and will not recall the loan owed to him by the company untill such time the company turns to profitability and financially able to repay.
2 Employees 2020 2019
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets £
Intellectual Property
Cost
At 1 June 2019 8,800
At 31 May 2020 8,800
Amortisation
At 1 June 2019 3,520
Provided during the year 1,760
At 31 May 2020 5,280
Net book value
At 31 May 2020 3,520
At 31 May 2019 5,280
Intellectual property is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Debtors 2020 2019
£ £
Other debtors 4,012 -
4,012 -
5 Creditors: amounts falling due within one year 2020 2019
£ £
Trade creditors 10,812 -
Other creditors 83,586 50,384
94,398 50,384
6 Other information
SKULL X LTD is a private company limited by shares and incorporated in England. Its registered office is:
20 Vale Industrial Estate
Southern Road
Aylesbury
England
HP19 9EW
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