Frogsuit Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10303708 (England and Wales)

Frogsuit Limited

Unaudited Financial Statements

for the Year Ended 30 July 2021

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

5

DIRECTORS:

Mr P Wootton

Mrs J Wootton

Mrs D Garner-Jones

Mr G Horsfield

SECRETARY:

Mr O Wilson

REGISTERED OFFICE:

C/O Nigel Davis Solicitors

3-4 Spire House

Waterside Park

Ashbourne

Derbyshire

DE6 1DG

REGISTERED NUMBER:

10303708 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

13 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

CURRENT ASSETS

Stocks

71,040

91,190

Debtors

4

7,410

16,581

Cash at bank

37,093

24,514

115,543

132,285

CREDITORS

Amounts falling due within one year

5

58,454

112,414

NET CURRENT ASSETS

57,089

19,871

TOTAL ASSETS LESS CURRENT LIABILITIES

57,089

19,871

CREDITORS

Amounts falling due after more than one year

6

32,667

-

NET ASSETS

24,422

19,871

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

24,322

19,771

24,422

19,871

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 July 2021 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 and authorised for issue on 27 June 2022 and were signed on its behalf by:

Mrs D Garner-Jones - Director

1.	STATUTORY INFORMATION

Frogsuit 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.

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 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.

Going concern

The directors believe that the company's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs, for a minimum of twelve months from the date of approval of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

6,395

4,902

Other debtors

1,015

11,679

7,410

16,581

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

2,333

-

Trade creditors

3,375

52,322

Taxation and social security

5,944

4,704

Other creditors

46,802

55,388

58,454

112,414

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

32,667

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

4,667

-

7.	RELATED PARTY DISCLOSURES

The company owed £5,907 to River Co Trading Limited, a company of which Mr Peter Wotton and Mrs Janet Wooton are also Directors.