Funky Schnauzer Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09053738 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2019

for

Funky Schnauzer Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs T Milnes

B Berriman

REGISTERED OFFICE:

4-6 Swaby's Yard

Walkergate

Beverley

East Yorkshire

HU17 9BZ

REGISTERED NUMBER:

09053738 (England and Wales)

ACCOUNTANTS:

Finnies Accountants Limited

Chartered Certified Accountants

4-6 Swaby's Yard

Walkergate

Beverley

East Yorkshire

HU17 9BZ

CURRENT ASSETS

Debtors

4

16,297

11,835

Cash at bank

636

3,912

16,933

15,747

CREDITORS

Amounts falling due within one year

5

(16,454

)

(10,994

)

NET CURRENT ASSETS

479

4,753

TOTAL ASSETS LESS CURRENT LIABILITIES

479

4,753

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

477

4,751

SHAREHOLDERS' FUNDS

479

4,753

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 7 January 2020 and were signed on its behalf by:

Mrs T Milnes - Director

1.	STATUTORY INFORMATION

Funky Schnauzer Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Turnover is recognised in the period in which the service is provided.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

10,045

10,895

Amounts owed by associates

-

940

Directors' current accounts

6,252

-

16,297

11,835

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

947

2,634

Amounts owed to associates

11,060

-

Corporation tax

3,455

5,470

Directors' current accounts

-

1,898

Accrued expenses

992

992

16,454

10,994

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

2

Ordinary

£1

2

2

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2019 and

31 May 2018:

2019

2018

£

£

Mrs T Milnes

Balance outstanding at start of year

(374

)

-

Amounts advanced

13,350

9,126

Amounts repaid

(9,500

)

(9,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

3,476

(374

)

B Berriman

Balance outstanding at start of year

(1,524

)

-

Amounts advanced

13,800

7,976

Amounts repaid

(9,500

)

(9,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,776

(1,524

)

The company has provided the directors with a loan, these loans have been repaid within 9 months of the year

end.

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £19,000 (2018 - £19,000) were paid to the directors .

9.	ULTIMATE CONTROLLING PARTY

The directors have joint control of the company, no one party has ultimate control of the company.