Kuckoo Ops Leopold Limited - Accounts to registrar (filleted) - small 18.2
Kuckoo Ops Leopold Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 May 2020 |
| for |
| Kuckoo Ops Leopold Limited |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2020 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Kuckoo Ops Leopold Limited |
| Company Information |
| for the Year Ended 31 May 2020 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 316 Blackpool Road |
| Fulwood |
| Preston |
| Lancashire |
| PR2 3AE |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Statement of Financial Position |
| 31 May 2020 |
| 31.5.20 | 31.5.19 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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. |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Statement of Financial Position - continued |
| 31 May 2020 |
| 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 and authorised for issue on |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2020 |
| 1. | STATUTORY INFORMATION |
| Kuckoo Ops Leopold Limited is a |
| The principal place of business is Leopold Square, Orchard Lane, Sheffield S1 2JG. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Covid-19 |
| On 11 March 2020, the World Health Organisation officially declared COVID-19 as a pandemic. |
| The accounts have been prepared on a going concern basis as although there are indicators of financial impact in relation to COVID-19 the directors have taken what are considered all necessary measures to protect the business from this to limit any adverse impact. |
| The business was unable to operate for 10 weeks of the financial year and this has continued into the next period as a result of further government restrictions. Not being able to trade impacts the results but government support and schemes have been claimed where appropriate and other costs saving measures have been put in place to safeguard the business during these challenging times. |
| The Directors anticipate the company continuing to trade for the foreseeable future and are monitoring the situation. |
| Preparation of consolidated financial statements |
| The financial statements contain information about Kuckoo Ops Leopold Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Long leasehold | - |
| Improvements to property | - |
| Bar Equipment | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Government grants |
| Government grants are recognised as other income once there is reasonable assurance that all conditions relating to the grant have been attained and that the grant will be received. |
| During the year the company was in receipt of a COVID-19 Small Business Grant. The company was eligible based on its business rates status and therefore the income is recognised on the date of issue of the relief. |
| During the year the company was in receipt of relief in respect of the Coronavirus Job Retention Scheme. The income is recorded based on the claim periods made relating the financial year. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Long | to | Bar |
| leasehold | property | Equipment |
| £ | £ | £ |
| COST |
| At 1 June 2019 |
| and 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 June 2019 |
| and 31 May 2020 |
| DEPRECIATION |
| At 1 June 2019 |
| Charge for year |
| At 31 May 2020 |
| NET BOOK VALUE |
| At 31 May 2020 |
| At 31 May 2019 |
| 5. | STOCKS |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Stocks |
| 6. | DEBTORS |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Amounts falling due within one year: |
| Other debtors |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 6. | DEBTORS - continued |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Other creditors |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31.5.20 | 31.5.19 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.20 | 31.5.19 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| Kuckoo Ops Leopold Limited (Registered number: 10337311) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2020 |
| 11. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 June 2019 | ( |
) |
| Deficit for the year | ( |
) |
| At 31 May 2020 | ( |
) |
| 12. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| At the year end date the company owed bonds of £50,000 to its directors and their associated companies on arms length commercial terms. The interest charged for the year was £4,800. |
| 13. | ULTIMATE CONTROLLING PARTY |
| The controlling party is Kuckoo Brands Limited. |
| The ultimate controlling party is |