Giggles and Wiggles Ltd - Accounts to registrar (filleted) - small 18.2
Giggles and Wiggles Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Period 1 August 2019 to 31 December 2020 |
| for |
| Giggles and Wiggles Ltd |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Contents of the Financial Statements |
| for the Period 1 August 2019 to 31 December 2020 |
| Page |
| Balance Sheet | 1 |
| Notes to the Financial Statements | 3 |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Balance Sheet |
| 31 December 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Capital redemption reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The director acknowledges her 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. |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Balance Sheet - continued |
| 31 December 2020 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the director and authorised for issue on |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Notes to the Financial Statements |
| for the Period 1 August 2019 to 31 December 2020 |
| 1. | STATUTORY INFORMATION |
| Giggles and Wiggles Ltd is a |
| Registered number: | 05169243 |
| Registered office: | Pitfield House |
| The Brampton |
| Newcastle |
| Staffordshire |
| ST5 0QP |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, being the 12 month period from the date of these accounts being approved, given the impact of the Coronavirus upon the economy and therefore the financial statements have been prepared on a going concern basis. |
| Turnover |
| Turnover represents invoiced sales of services. |
| Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore, turnover also includes the element of work completed but not yet invoiced. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of a business in July 2005, at a value of £116,000, was amortised over its estimated useful life of ten years. |
| Goodwill, being the amount paid in connection with the acquisition of a business in October 2007, at a value of £100,000, was amortised over its estimated useful life of ten years. |
| Goodwill, being the amount paid in connection with the acquisition of a business in May 2018, at a value of £2,000, is being amortised over its estimated useful life of ten years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Notes to the Financial Statements - continued |
| for the Period 1 August 2019 to 31 December 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| Tangible fixed assets |
| Freehold property | - |
| Leasehold Buildings | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| Taxation |
| Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 period 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. |
| Government grants |
| Government grants relating to revenue are released to the profit and loss account in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the period was |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Notes to the Financial Statements - continued |
| for the Period 1 August 2019 to 31 December 2020 |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 August 2019 |
| and 31 December 2020 |
| AMORTISATION |
| At 1 August 2019 |
| Charge for period |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 July 2019 |
| 5. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Leasehold | and |
| property | Buildings | fittings |
| £ | £ | £ |
| COST |
| At 1 August 2019 |
| Additions |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 August 2019 |
| Charge for period |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 July 2019 |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Notes to the Financial Statements - continued |
| for the Period 1 August 2019 to 31 December 2020 |
| 5. | TANGIBLE FIXED ASSETS - continued |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 August 2019 |
| Additions |
| At 31 December 2020 |
| DEPRECIATION |
| At 1 August 2019 |
| Charge for period |
| At 31 December 2020 |
| NET BOOK VALUE |
| At 31 December 2020 |
| At 31 July 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 73,035 | 163,140 |
| Giggles and Wiggles Ltd (Registered number: 05169243) |
| Notes to the Financial Statements - continued |
| for the Period 1 August 2019 to 31 December 2020 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2020 | 2019 |
| £ | £ |
| Lloyds Bank Loan | 108,750 | 236,930 |
| The loan facilities provided by Lloyds Bank PLC are secured on the property at 9 Sackville Street, Basford and all other property and undertakings by the company. These charges include a fixed and floating charge alongside a negative pledge. |
| 10. | FINANCIAL COMMITMENTS |
| Total financial commitments, guarantees and contingencies which are not included within the balance sheet amount to £422,329 (2019 - £477,579). This financial commitment represents the total amount of payments remaining on leases ending 2034. |