Our Interest In Textiles Was Limited Filleted accounts for Companies House (small and micro)

Our Interest In Textiles Was Limited Filleted accounts for Companies House (small and micro)

OUR INTEREST IN TEXTILES WAS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 7953656
Our Interest In Textiles Was Limited
Filleted Unaudited Financial Statements
28 February 2021
Our Interest In Textiles Was Limited
Statement of Financial Position
28 February 2021
2021
2020
Note
£
£
£
£
Current assets
Cash at bank and in hand
94,969
42,777
Creditors: amounts falling due within one year
4
47,393
42,724
--------
--------
Net current assets
47,576
53
--------
----
Total assets less current liabilities
47,576
53
Creditors: amounts falling due after more than one year
5
50,000
–
--------
----
Net (liabilities)/assets
( 2,424)
53
--------
----
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 2,426)
51
-------
----
Shareholders (deficit)/funds
( 2,424)
53
-------
----
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 Section 1A of 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 statement of income and retained earnings has not been delivered.
For the year ending 28th February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Our Interest In Textiles Was Limited
Statement of Financial Position (continued)
28 February 2021
These financial statements were approved by the board of directors and authorised for issue on 30 November 2021 , and are signed on behalf of the board by:
S. Lord-Marchionne
Director
Company registration number: 7953656
Our Interest In Textiles Was Limited
Notes to the Financial Statements
Year ended 28th February 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alex House, 260-268 Chapel Street, Salford, Manchester, M3 5JZ.
2. Statement of compliance
These 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
613
–
Social security and other taxes
40,808
39,124
Other creditors
5,972
3,600
--------
--------
47,393
42,724
--------
--------
5. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
50,000
–
--------
----