GiocoGuado Ltd Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 08871739

GiocoGuado Ltd

Filleted Unaudited Financial Statements

For the year ended

31 January 2020

GiocoGuado Ltd

Statement of Financial Position

31 January 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Intangible assets	5	132	147
Tangible assets	6	34,939	333
		--------	----
		35,071	480

Current assets

Debtors	7	22,128	16,367
Cash at bank and in hand		181,722	32,722
		---------	--------
		203,850	49,089

Creditors: amounts falling due within one year	8	6,430		9,425
		---------		--------
Net current assets			197,420		39,664
			---------		--------
Total assets less current liabilities			232,491		40,144

Provisions

Taxation including deferred tax	( 12,508)	( 8,506)
	---------	--------
Net assets	244,999	48,650
	---------	--------

Capital and reserves

Called up share capital	12	11
Share premium account	299,578	85,803
Profit and loss account	( 54,591)	( 37,164)
	---------	--------
Shareholders funds	244,999	48,650
	---------	--------

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 statement of comprehensive income has not been delivered.

For the year ending 31 January 2020 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 .

GiocoGuado Ltd

Statement of Financial Position (continued)

31 January 2020

These financial statements were approved by the board of directors and authorised for issue on 11 January 2021 , and are signed on behalf of the board by:

Mr W Playford

Director

Company registration number: 08871739

GiocoGuado Ltd

Notes to the Financial Statements

Year ended 31 January 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Chesterton Hall Crescent, Cambridge, CB4 1AW.

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. The financial statements are prepared in sterling, which is the functional currency of the entity. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Income tax The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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. Foreign currencies Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account. Intangible assets Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses .

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Patents, trademarks and licences	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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% straight line
Equipment	-	25% straight line

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2019: Nil).

5. Intangible assets

	Patents, trademarks and licences
	£
Cost
At 1 February 2019 and 31 January 2020	150
	----
Amortisation
At 1 February 2019	3
Charge for the year	15
	----
At 31 January 2020	18
	----
Carrying amount
At 31 January 2020	132
	----
At 31 January 2019	147
	----

6. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 February 2019	2,766	–	2,766
Additions	39,940	2,125	42,065
	--------	-------	--------
At 31 January 2020	42,706	2,125	44,831
	--------	-------	--------
Depreciation
At 1 February 2019	2,433	–	2,433
Charge for the year	7,373	86	7,459
	--------	-------	--------
At 31 January 2020	9,806	86	9,892
	--------	-------	--------
Carrying amount
At 31 January 2020	32,900	2,039	34,939
	--------	-------	--------
At 31 January 2019	333	–	333
	--------	-------	--------

7. Debtors

	2020	2019
	£	£
Other debtors	22,128	16,367
	--------	--------

8. Creditors: amounts falling due within one year

	2020	2019
	£	£
Trade creditors	–	5,303
Social security and other taxes	1,980	–
Other creditors	4,450	4,122
	-------	-------
	6,430	9,425
	-------	-------

9. Directors' advances, credits and guarantees

During the year the company made advances to and received repayments from a director. Interest has been charged at the official HMRC rate on any overdrawn loan account balances greater than £10,000, there are no repayment terms.

	2020	2019
	£	£
Advances	11,926	–
Repayments	10,521	–
Balances due from/(to) director	1,405	–