Lynne Kelly Curtains Ltd Filleted accounts for Companies House (small and micro)
Lynne Kelly Curtains Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
11747391
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Abridged Statement of Financial Position |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Current assets
Stocks |
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Cash at bank and in hand |
– |
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Creditors: amounts falling due within one year |
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Net current assets |
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------- |
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Total assets less current liabilities |
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------- |
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Net assets |
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Abridged Statement of Financial Position (continued) |
2022 |
2021 |
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Note |
£ |
£ |
£ |
Capital and reserves
Called up share capital |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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
;
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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
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
31 October 2022
, and are signed on behalf of the board by:
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Director |
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Company registration number:
11747391
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Notes to the Abridged Financial Statements |
Year ended 31 January 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 Durham House, 38 Street Lane, Denby, Derbyshire, DE5 8NE.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Stocks
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. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2021:
1
).
5.
Director's advances, credits and guarantees
At the year end the director owed the company £1,403. This was repaid within 9 months of the year end.
6.
Related party transactions
The company was under the contract of Mrs L Kelly throughout the year and previous years. Mrs L Kelly is managing director and majority shareholder.