| BLONDEMONEY LTD |
| Notes to the Accounts |
| for the year ended 28 February 2022 |
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| 1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Fixtures, fittings, tools and equipment |
25% reducing balance |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. |
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Going Concern |
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The company has net liabilities and is therefore dependent upon the continuing support of its creditors and director. On the basis that this support is expected to continue, the accounts have been drawn up on the going concern basis. |
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| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
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Average number of persons employed by the company |
2 |
|
2 |
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| 3 |
Tangible fixed assets |
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Plant and machinery etc |
| £ |
|
Cost |
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At 1 March 2021 |
4,701 |
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Additions |
8,936 |
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At 28 February 2022 |
13,637 |
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Depreciation |
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At 1 March 2021 |
419 |
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Charge for the year |
1,695 |
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At 28 February 2022 |
2,114 |
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Net book value |
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At 28 February 2022 |
11,523 |
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At 28 February 2021 |
4,282 |
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| 4 |
Debtors |
2022 |
|
2021 |
| £ |
£ |
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Trade debtors |
- |
|
2,500 |
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| 5 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
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Taxation and social security costs |
(2,247) |
|
4,560 |
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Other creditors |
16,878 |
|
5,051 |
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|
14,631 |
|
9,611 |
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| 6 |
Other information |
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BLONDEMONEY LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
65a Quarrendon Street |
|
London |
|
SW6 3ST |
