Statutory Information
STRICTLYPREME LIMITED is a private limited company, limited by shares, domiciled in England and Wales, registration number 10684228, registration address 3rd Floor 207 Regent Street, London, W1B 3HH, United Kingdom.
The presentation currency is £ sterling.
1. |
Accounting Policies
Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 105 Financial Reporting Standard for Micro Entities (effective January 2016).
Going Concern
The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future.
If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Development expenditures
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred. However, where the directors are satisfied as to the technical, commercial and financial viability of individual projects, development expenditure is deferred and amortised over [no_of_years] years during which the company is expected to benefit.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:Computer Equipment | 20 % Reducing Balance |
|
2. |
Intangible fixed assets
Cost or Valuation |
Development costs |
|
Other |
|
Total |
|
£ |
|
£ |
|
£ |
At 01 April 2022 |
23,000 |
|
3,259 |
|
26,259 |
Additions |
- |
|
- |
|
- |
Disposals |
- |
|
- |
|
- |
At 31 March 2023 |
23,000 |
|
3,259 |
|
26,259 |
Amortisation |
At 01 April 2022 |
11,500 |
|
1,629 |
|
13,129 |
Charge for year |
2,300 |
|
326 |
|
2,626 |
On disposals |
- |
|
- |
|
- |
At 31 March 2023 |
13,800 |
|
1,955 |
|
15,755 |
Net book values |
At 31 March 2023 |
9,200 |
|
1,304 |
|
10,504 |
At 31 March 2022 |
11,500 |
|
1,630 |
|
13,130 |
|
3. |
Tangible fixed assets
Cost or Valuation |
Computer Equipment |
|
Total |
|
£ |
|
£ |
At 01 April 2022 |
- |
|
- |
Additions |
1,099 |
|
1,099 |
Disposals |
- |
|
- |
At 31 March 2023 |
1,099 |
|
1,099 |
Depreciation |
At 01 April 2022 |
- |
|
- |
Charge for year |
220 |
|
220 |
On disposals |
- |
|
- |
At 31 March 2023 |
220 |
|
220 |
Net book values |
Closing balance as at 31 March 2023 |
879 |
|
879 |
Opening balance as at 01 April 2022 |
- |
|
- |
|
4. |
Average number of employees
Average number of employees during the year was 1 (2022: 1).
|
2
|