Hot Flibby Limited - Accounts to registrar (filleted) - small 18.2
Hot Flibby Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2021 |
| FOR |
| HOT FLIBBY LIMITED |
| HOT FLIBBY LIMITED (REGISTERED NUMBER: 05462796) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2021 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| HOT FLIBBY LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2021 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| The Old Casino |
| 28 Fourth Avenue |
| Hove |
| East Sussex |
| BN3 2PJ |
| HOT FLIBBY LIMITED (REGISTERED NUMBER: 05462796) |
| BALANCE SHEET |
| 31 MAY 2021 |
| 2021 | 2020 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks | 4 |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| HOT FLIBBY LIMITED (REGISTERED NUMBER: 05462796) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2021 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer Equipment | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Other operating income |
| Rental income is recognised when the rent becomes due in accordance with the terms of the lease. |
| 2. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2020 - NIL). |
| HOT FLIBBY LIMITED (REGISTERED NUMBER: 05462796) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2021 |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | Equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2020 |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 May 2021 |
| DEPRECIATION |
| At 1 June 2020 |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 May 2021 |
| NET BOOK VALUE |
| At 31 May 2021 |
| At 31 May 2020 |
| 4. | STOCKS |
| 2021 | 2020 |
| £ | £ |
| Stocks |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans and overdrafts |
| Tax |
| Directors' loan accounts | 82,052 | 98,052 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2021 | 2020 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| HOT FLIBBY LIMITED (REGISTERED NUMBER: 05462796) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2021 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank loans |
| The bank loans are secured by fixed charge. |
| 9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| During the year, Mrs G B Kane decreased her loan to the company. As at 31 May 2021, the company owed her £82,052 (2020: £98,052). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| This was by virtue of her 75% holding of the issued share capital. |