ACCOUNTS - Final Accounts preparation

CUCKOO INTERNET LTD - Company Information

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Registered number: 11926742

CUCKOO INTERNET LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 APRIL 2020

CUCKOO INTERNET LIMITED

REGISTERED NUMBER: 11926742

BALANCE SHEET

AS AT 30 APRIL 2020

		2020
Note		£

Fixed assets
Intangible assets			15,987
Tangible assets	5		544
			16,531
Current assets
Debtors: amounts falling due within one year	6	7,568
Cash at bank and in hand		339,788
		347,356
Creditors: amounts falling due within one year	7	(8,043)
Net current assets			339,313
Total assets less current liabilities			355,844

Net assets			355,844

Capital and reserves
Called up share capital			1
Share premium account			418,011
Profit and loss account			(62,168)
Shareholders' funds			355,844

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CUCKOO INTERNET LIMITED

REGISTERED NUMBER: 11926742

BALANCE SHEET (CONTINUED)

AS AT 30 APRIL 2020

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were aproved and authorised for issue by the board and were signed on its behalf on 1 April 2021.

A J Fitzgerald

Director

The notes on pages 3 to 6 form part of these financial statements.

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CUCKOO INTERNET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2020

1.	General information

This is a private company limited by share capital, incorporated in England and Wales. The registered office address is 68 Hanbury Street, London, E1 5JL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The estimated useful lives range as follows:

Development expenditure

years

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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CUCKOO INTERNET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2020

2.Accounting policies (continued)

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the period was 4.

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CUCKOO INTERNET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2020

4.	Intangible assets

		Development expenditure
		£
	Cost
	Additions	16,200
	At 30 April 2020	16,200
	Amortisation
	Charge for the period on owned assets	213
	At 30 April 2020	213
	Net book value
	At 30 April 2020	15,987

5.	Tangible fixed assets

		Computer equipment
		£
	Cost
	Additions	607
	At 30 April 2020	607
	Depreciation
	Charge for the period on owned assets	63
	At 30 April 2020	63
	Net book value
	At 30 April 2020	544

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CUCKOO INTERNET LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 APRIL 2020

Debtors

					2020
					£


	Other debtors	6,568
	Prepayments and accrued income	1,000
		7,568

7.	Creditors: Amounts falling due within one year
		2020
		£

	Trade creditors	483
	Other creditors	6,670
	Accruals and deferred income	890
		8,043

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