531 Ltd - Accounts

531 Ltd - Accounts

531 LTD - Company Information

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Registered Number: 05991795
England & Northern Ireland

 

 

 

531 LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023

531 Ltd
Contents Page
For the year ended 30 November 2023
Directors Hallam Stribley
Amy Stribley
Registered Number 05991795
Registered Office 5 Monks Way
Swaythling
Southampton
Hampshire
SO18 2LR
Accountants OMW Accountancy Ltd
5 Monks Way
Swaythling
Southampton
Hampshire
SO18 2LR
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 November 2023.
Principal activities
The principal activity of the company during the financial year was that of pat testing and window cleaning.
Directors
The directors who served the company throughout the year were as follows:
Hallam Stribley
Amy Stribley
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Hallam Stribley
Director

Date approved: 22 December 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 November 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
OMW Accountancy Ltd
30 November 2023



....................................................
OMW Accountancy Ltd
5 Monks Way
Swaythling
Southampton
Hampshire
SO18 2LR
22 December 2023
3
 
 		 Notes
 		 2023
£		   2022
£
Fixed assets      
Tangible fixed assets 5 6,723    8,009 
6,723    8,009 
Current assets      
Cash at bank and in hand 10,983    13,856 
Creditors: amount falling due within one year 6 (11,940)   (17,078)
Net current liabilities (957)   (3,222)
 
Total assets less current liabilities 5,766    4,787 
Net assets 5,766    4,787 
 

Capital and reserves 		     
Called up share capital 10    10 
Profit and loss account 5,756    4,777 
Shareholder's funds 5,766    4,787 
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 22 December 2023 and were signed on its behalf by:


-------------------------------
Hallam Stribley
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 December 2021 10  6,096  6,106 
Profit for the year 5,781  5,781 
Total comprehensive income for the year -  5,781  5,781 
Dividends (7,100) (7,100)
Total investments by and distributions to owners -  (7,100) (7,100)
At 30 November 2022 10  4,777  4,787 
At 01 December 2022 10  4,763  4,773 
Profit for the year 2,993  2,993 
Total comprehensive income for the year -  2,993  2,993 
Dividends (2,000) (2,000)
Total investments by and distributions to owners -  (2,000) (2,000)
At 30 November 2023 10  5,756  5,766 
5
General Information
531 Ltd is a private company, limited by shares, registered in England & Northern Ireland, registration number 05991795, registration address 5 Monks Way, Swaythling, Southampton, Hampshire, SO18 2LR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
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.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
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% Straight Line
Fixtures and Fittings 20% Straight Line
Plant and Machinery 20% Reducing Balance
Motor Vehicles 20% Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Staff Costs

2023
£		   2022
£
Wages and salaries 19,800    18,150 
Other staff costs 467    504 
20,267    18,654 
 
Average number of employees during the year Number   Number
Administration 1    1 
Sales 1    1 
2    2 

3.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
4.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 2,850    2,850 
Additions -    - 
Disposals -    - 
At 30 November 2023 2,850    2,850 
Amortisation
At 01 December 2022 2,850    2,850 
Charge for year -    - 
On disposals -    - 
At 30 November 2023 2,850    2,850 
Net book values
At 30 November 2023 -    - 
At 30 November 2022 -    - 


5.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 December 2022 5,945    16,620    579    5,421    28,565 
Additions -    -    -    325    325 
Disposals -    -    -    -    - 
At 30 November 2023 5,945    16,620    579    5,746    28,890 
Depreciation
At 01 December 2022 5,242    10,238    342    4,734    20,556 
Charge for year 140    1,276    47    148    1,611 
On disposals -    -    -    -    - 
At 30 November 2023 5,382    11,514    389    4,882    22,167 
Net book values
Closing balance as at 30 November 2023 563    5,106    190    864    6,723 
Opening balance as at 01 December 2022 703    6,382    237    687    8,009 


6.

Creditors: amount falling due within one year

2023
£		   2022
£
Trade Creditors 0    12 
Corporation Tax 1,080    1,855 
Accrued Expenses 552    552 
Directors' Current Accounts 10,308    14,659 
11,940    17,078 

6