ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

GEFFEN AND BOYD LTD - Company Information

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Caseware UK (AP4) 2021.0.152 2021.0.152 2022-10-312022-10-31false2021-11-01No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 12925965 2021-11-01 2022-10-31 12925965 2020-10-04 2021-10-31 12925965 2022-10-31 12925965 2021-10-31 12925965 2020-10-04 12925965 c:Director2 2021-11-01 2022-10-31 12925965 d:ComputerEquipment 2021-11-01 2022-10-31 12925965 d:ComputerEquipment 2022-10-31 12925965 d:ComputerEquipment 2021-10-31 12925965 d:CurrentFinancialInstruments 2022-10-31 12925965 d:CurrentFinancialInstruments 2021-10-31 12925965 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 12925965 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 12925965 d:ShareCapital 2022-10-31 12925965 d:ShareCapital 2020-10-04 2021-10-31 12925965 d:ShareCapital 2021-10-31 12925965 d:ShareCapital 2020-10-04 12925965 d:RetainedEarningsAccumulatedLosses 2021-11-01 2022-10-31 12925965 d:RetainedEarningsAccumulatedLosses 2022-10-31 12925965 d:RetainedEarningsAccumulatedLosses 2020-10-04 2021-10-31 12925965 d:RetainedEarningsAccumulatedLosses 2021-10-31 12925965 d:RetainedEarningsAccumulatedLosses 2020-10-04 12925965 c:OrdinaryShareClass1 2021-11-01 2022-10-31 12925965 c:OrdinaryShareClass1 2022-10-31 12925965 c:OrdinaryShareClass1 2021-10-31 12925965 c:FRS102 2021-11-01 2022-10-31 12925965 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-31 12925965 c:FullAccounts 2021-11-01 2022-10-31 12925965 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 12925965













GEFFEN AND BOYD LTD
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

 
GEFFEN AND BOYD LTD
REGISTERED NUMBER:12925965


BALANCE SHEET
AS AT 31 OCTOBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,405
-

  
2,405
-

Current assets
  

Debtors: amounts falling due within one year
 5 
100
100

Cash at bank and in hand
 6 
298
356

  
398
456

Creditors: amounts falling due within one year
 7 
(55,045)
(12,460)

Net current liabilities
  
 
 
(54,647)
 
 
(12,004)

Total assets less current liabilities
  
(52,242)
(12,004)

  

Net liabilities
  
(52,242)
(12,004)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(52,342)
(12,104)

  
(52,242)
(12,004)


Page 1

 
GEFFEN AND BOYD LTD
REGISTERED NUMBER:12925965

    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2022

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Oliver Geffen
Director

Date: 28 November 2022

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
GEFFEN AND BOYD LTD
 


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


At 4 October 2020
-
-
-


Comprehensive income for the period

Loss for the period
-
(12,104)
(12,104)


Contributions by and distributions to owners

Shares issued during the period
100
-
100



At 1 November 2021
100
(12,104)
(12,004)


Comprehensive income for the year

Loss for the year
-
(40,238)
(40,238)


At 31 October 2022
100
(52,342)
(52,242)


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
GEFFEN AND BOYD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

1.


General information

Geffen And Boyd Ltd is a private company limited by shares, incorporated and domiciled in England and Wales, United Kingdom. The registered office is 57 Boss House, 2 Boss Street, London, SE1 2PS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

During the year ended 31 October 2022 the Company suffered a loss before tax of £40,832 (2021: £12,104), giving rise to a balance sheet deficit of £52,836 (2021: £12,004) at the year end.
Within this is a balance of £53,389 (2021: £10,960) owed to the director shareholder who has agreed to continue to provide such financial support as is required whilst the Company strengthens its own financial position. The Company results are consistent with the director's expectations.
In light of the above and after taking into account all information that could reasonably be expected to be available, the director is confident that the Company will continue in operational existence for the foreseeable future and that the going concern is therefore appropriate for the preparation of the Company's accounts.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
GEFFEN AND BOYD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

2.Accounting policies (continued)

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Computer equipment
-
4
years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).

Page 5

 
GEFFEN AND BOYD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 November 2021
-


Additions
2,405



At 31 October 2022

2,405






Net book value



At 31 October 2022
2,405



At 31 October 2021
-


5.


Debtors

2022
2021
£
£


Called up share capital not paid
100
100



6.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
298
356



7.


Creditors: amounts falling due within one year

2022
2021
£
£

Other creditors
52,795
10,960

Accruals and deferred income
2,250
1,500

55,045
12,460


Page 6

 
GEFFEN AND BOYD LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022

8.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares shares of £1 each
100
100



9.


Controlling party

Geffen And Boyd Ltd is jointly owned by Oliver Geffen and Olivia Boyd by virtue of their equal shareholdings.

 
Page 7