4Sale2U (Barnsley) Limited Filleted accounts for Companies House (small and micro)

4SALE2U (BARNSLEY) LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07329342

4Sale2U (Barnsley) Limited

Filleted Unaudited Financial Statements

For the year ended

31 July 2022

4Sale2U (Barnsley) Limited

Balance Sheet

31 July 2022

	2022	2021
Note	£	£

Fixed assets

Tangible assets	5	8,695	5,500

Current assets

Debtors	6	219,716	188,394
Cash at bank and in hand		53,678	39,419
		---------	---------
		273,394	227,813

Creditors: amounts falling due within one year	7	211,634	131,403
		---------	---------
Net current assets		61,760	96,410
		--------	---------
Total assets less current liabilities		70,455	101,910

Creditors: amounts falling due after more than one year	8	67,536	97,959

Provisions	1,655	1,048
	--------	---------
Net assets	1,264	2,903
	--------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	1,164	2,803
	-------	-------
Shareholders funds	1,264	2,903
	-------	-------

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 profit and loss has not been delivered.

For the year ending 31 July 2022 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 .

4Sale2U (Barnsley) Limited

Balance Sheet (continued)

31 July 2022

These financial statements were approved by the board of directors and authorised for issue on 28 July 2023 , and are signed on behalf of the board by:

Mr C Lawlor

Director

Company registration number: 07329342

4Sale2U (Barnsley) Limited

Notes to the Financial Statements

Year ended 31 July 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 1-3 Church Street, Barnsley, South Yorkshire, S70 2AB, England.

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 and in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements under FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts. These estimates and judgements are continually evaluated and are based on historical experience and other factors including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Income tax

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 .

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Fixtures and fittings	-	25% reducing balance
Equipment	-	25% reducing balance

Government grants

Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 August 2021	19,369	10,747	1,922	32,038
Additions	–	5,625	–	5,625
	--------	--------	-------	--------
At 31 July 2022	19,369	16,372	1,922	37,663
	--------	--------	-------	--------
Depreciation
At 1 August 2021	18,552	6,440	1,546	26,538
Charge for the year	204	2,132	94	2,430
	--------	--------	-------	--------
At 31 July 2022	18,756	8,572	1,640	28,968
	--------	--------	-------	--------
Carrying amount
At 31 July 2022	613	7,800	282	8,695
	--------	--------	-------	--------
At 31 July 2021	817	4,307	376	5,500
	--------	--------	-------	--------

6. Debtors

	2022	2021
	£	£
Other debtors	219,716	188,394
	---------	---------

Included in "Other debtors" is a balance of £20,571 (2021: £20,571) which the directors do not consider will be recoverable within twelve months of the balance sheet date. Included in "Other debtors" is a balance of £61,830 (2021: £61,830) which is due from companies controlled by Mr C Lawlor . The balance is unsecured, interest free and repayable on demand.

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	32,325	22,940
Trade creditors	6,750	–
Corporation tax	39,837	34,188
Social security and other taxes	58,146	57,479
Other creditors	74,576	16,796
	---------	---------
	211,634	131,403
	---------	---------

8. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	67,536	97,959
	--------	--------

Included in "Bank loans and overdrafts" is a loan that is repayable in monthly instalments, £18,073 of which fall due more than five years from the balance sheet date.

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Amounts written off	Balance outstanding
	£	£	£	£	£
Mr C P Kelly	–	–	–	–	–
Mr C Lawlor	3,450	109,915	( 170,978)	–	( 57,613)
Mr R L Watts	25,000	22,253	( 21,735)	–	25,518
Mr Z Foster	25,000	21,471	( 21,735)	–	24,736
	--------	---------	---------	----	--------
	53,450	153,639	( 214,448)	–	( 7,359)
	--------	---------	---------	----	--------

	2021
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Amounts written off	Balance outstanding
	£	£	£	£	£
Mr C P Kelly	35,813	–	–	(35,813)	–
Mr C Lawlor	48,449	23,110	( 68,109)	–	3,450
Mr R L Watts	–	53,368	( 28,368)	–	25,000
Mr Z Foster	–	53,986	( 28,986)	–	25,000
	--------	---------	---------	--------	--------
	84,262	130,464	( 125,463)	(35,813)	53,450
	--------	---------	---------	--------	--------

The loans are unsecured, interest free and repayable on demand.