Curious Goose Ltd
Unaudited Financial Statements
For Filing with Registrar
For the year ended 28 February 2021
Company Registration No. 07946797 (England and Wales)
Curious Goose Ltd
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 5
Curious Goose Ltd
Balance Sheet
As at 28 February 2021
Page 1
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,047
Current assets
Debtors
4
110,407
100,191
Cash at bank and in hand
310,581
288,226
420,988
388,417
Creditors: amounts falling due within one year
5
(36,825)
(26,052)
Net current assets
384,163
362,365
Total assets less current liabilities
398,210
362,365
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
398,209
362,364
Total equity
398,210
362,365
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
T
he director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on
29 November 2021
2021-11-29
Ms J Bailey
Director
Company Registration No. 07946797
Curious Goose Ltd
Notes to the Financial Statements
For the year ended 28 February 2021
Page 2
1
Accounting policies
Company information
Curious Goose Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Charlotte Building, 17 Gresse Street, London, W1T 1QL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest pound.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Going concern
These financial statements are prepared on the going concern basis. The directors have considered the impact that Covid-19 will have on the business and have a reasonable expectation that the company will continue in operational existence for the foreseeable future. The directors believe that the company will have sufficient funds to settle all of its liabilities as they fall due for at least 12 months from signing the accounts.
true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
Curious Goose Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2021
1
Accounting policies
(Continued)
Page 3
1.5
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The
company
only has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Curious Goose Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2021
Page 4
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1
(2020 - 2)
3
Tangible fixed assets
Land and buildings
Office Equipment
Total
£
£
£
Cost
At 1 March 2020
Additions
12,590
1,488
14,078
At 28 February 2021
12,590
1,488
14,078
Depreciation and impairment
At 1 March 2020
Depreciation charged in the year
31
31
At 28 February 2021
31
31
Carrying amount
At 28 February 2021
12,590
1,457
14,047
At 29 February 2020
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Other debtors
110,407
100,191
5
Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
2,901
Corporation tax
25,933
15,521
Other taxation and social security
2,875
359
Other creditors
5,116
10,172
36,825
26,052
Curious Goose Ltd
Notes to the Financial Statements (Continued)
For the year ended 28 February 2021
Page 5
6
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
1 Ordinary Shares of £1 each
1
1
1
1
7
Related party transactions
During the year, dividends of £75,000 (2020: £75,000) were paid to the director of the company.
Included in debtors is a £77,512 investment in Snapper Films, a related party by virtue of common directorship.
At the year end date, the company owed £1,906 (2020: £4,205) to the director of the company.