Company Registration No. 9367749 (England and Wales)
Letterboxkits Limited
Unaudited accounts
for the year ended 31 December 2020
Letterboxkits Limited
Unaudited accounts
Contents
Letterboxkits Limited
Statement of financial position
as at 31 December 2020
Cash at bank and in hand
339
2,140
Creditors: amounts falling due within one year
(13,217)
(13,263)
Net current liabilities
(12,067)
(10,360)
Total assets less current liabilities
(11,177)
(9,314)
Provisions for liabilities
Net liabilities
(11,346)
(9,513)
Called up share capital
100
100
Profit and loss account
(11,446)
(9,613)
Shareholders' funds
(11,346)
(9,513)
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 September 2021 and were signed on its behalf by
A C Boland
Director
Company Registration No. 9367749
Letterboxkits Limited
Notes to the Accounts
for the year ended 31 December 2020
Letterboxkits Limited is a private company, limited by shares, registered in England and Wales, registration number 9367749.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 December 2020 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 January 2019.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Letterboxkits Limited
Notes to the Accounts
for the year ended 31 December 2020
4
Tangible fixed assets
Plant & machinery
5
Debtors: amounts falling due within one year
2020
2019
6
Creditors: amounts falling due within one year
2020
2019
Other creditors
13,217
13,263
7
Average number of employees
During the year the average number of employees was 0 (2019: 0).
