Gaiacode Ltd - Period Ending 2021-08-31
Gaiacode Ltd - Period Ending 2021-08-31
Registration number:
Gaiacode Ltd
for the Year Ended 31 August 2021
Gaiacode Ltd
(Registration number: 11775832)
Balance Sheet as at 31 August 2021
Note |
2021 |
2020 |
|
Fixed assets |
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Intangible assets |
|
- |
|
Tangible assets |
|
- |
|
|
- |
||
Current assets |
|||
Stocks |
|
- |
|
Debtors |
|
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
- |
|
Net current assets |
|
|
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
386,250 |
300 |
|
Profit and loss account |
(351,633) |
- |
|
Shareholders' funds |
34,617 |
300 |
For the financial year ending 31 August 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Gaiacode Ltd
(Registration number: 11775832)
Balance Sheet as at 31 August 2021
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
......................................... |
Gaiacode Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
25% straight line basis |
Plant and machinery |
20% straight line basis |
Gaiacode Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Intangible assets
Separately acquired trademarks and licences are shown at historical cost.
Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.
Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
10% straight line basis |
Patents |
5% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Gaiacode Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Intangible assets |
Goodwill |
Trademarks, patents and licenses |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 31 August 2021 |
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Amortisation |
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Amortisation charge |
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At 31 August 2021 |
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Carrying amount |
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At 31 August 2021 |
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Tangible assets |
Plant and machinery |
Office equipment |
Total |
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Cost or valuation |
|||
Additions |
|
|
|
At 31 August 2021 |
|
|
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Depreciation |
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Charge for the year |
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At 31 August 2021 |
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|
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Carrying amount |
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At 31 August 2021 |
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|
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Stocks |
2021 |
2020 |
|
Other inventories |
|
- |
Gaiacode Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2021
Debtors |
2021 |
2020 |
|
Trade debtors |
|
- |
Prepayments |
|
- |
Other debtors |
|
- |
|
- |
Creditors |
Creditors: amounts falling due within one year
2021 |
2020 |
|
Due within one year |
||
Trade creditors |
|
- |
Taxation and social security |
|
- |
Other creditors |
|
- |
|
- |
Creditors: amounts falling due after more than one year
2021 |
2020 |
|
Due after one year |
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Other non-current financial liabilities |
|
- |
Related party transactions |
Summary of transactions with key management