Feel Karma Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06018634 (England and Wales)

Financial Statements

for the Year Ended 31 December 2021

for

Feel Karma Limited

Trading as

Savile Row Travel

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J G Callaway

G Hoff

B J Davis

R A Lewis

SECRETARY:

G Hoff

REGISTERED OFFICE:

1 Market Place Mews

HENLEY-ON-THAMES

Oxfordshire

RG9 2AH

REGISTERED NUMBER:

06018634 (England and Wales)

ACCOUNTANTS:

Nicholsons

Chartered Accountants

Newland House

The Point

Weaver Road

LINCOLN

Lincolnshire

LN6 3QN

FIXED ASSETS

Tangible assets

4

11,017

15,388

CURRENT ASSETS

Debtors

862,370

681,084

Cash at bank

284,622

170,456

1,146,992

851,540

CREDITORS

Amounts falling due within one year

818,370

474,786

NET CURRENT ASSETS

328,622

376,754

TOTAL ASSETS LESS CURRENT LIABILITIES

339,639

392,142

CREDITORS

Amounts falling due after more than one year

263,438

295,000

NET ASSETS

76,201

97,142

CAPITAL AND RESERVES

Called up share capital

30,000

30,000

Retained earnings

46,201

67,142

76,201

97,142

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2021 in accordance with Section 444(2A) of the Companies Act 2006.

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 25 May 2022 and were signed on its behalf by:

G Hoff - Director

1.	STATUTORY INFORMATION

Feel Karma 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

Government grants

Government grants which have been accounted for under the performance model are recognised when it is reasonable to expect that the grants will be received and that all related conditions will be met.

Government grants which have been accounted for under the accruals model, in respect of capital expenditure are recognised within income on a systematic basis over the expected useful life of the asset.

Government grants which have been accounted for under the accruals model in respect of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

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.

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 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2021

27,996

Additions

3,752

At 31 December 2021

31,748

DEPRECIATION

At 1 January 2021

12,608

Charge for year

8,123

At 31 December 2021

20,731

NET BOOK VALUE

At 31 December 2021

11,017

At 31 December 2020

15,388

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/21

31/12/20

£

£

Within one year

9,324

-

6.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/21

31/12/20

£

£

Bank overdraft

74,077

-

7.	POST BALANCE SHEET EVENTS

As at the 31 December COVID-19 was still ongoing, generating a material impact on the general economy.

The directors have considered the effect on the company trading to date and the anticipated impact for the next 12 months and feel the pandemic has not adversely affected the trading capability of the company.