Crowdlords Limited
Crowdlords Limited
Registered number: 08868588
Unaudited Financial Statements
For The Year Ended
31 January 2022
LAS Accountants LLP
Crowdlords Limited
Unaudited Financial Statements
For The Year Ended
31 January 2022
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Statement of Financial Position | 1—2 |
| Notes to the Financial Statements | 3—7 |
Crowdlords Limited
Statement of Financial Position
As at
31 January 2022
Statement of Financial Position
Registered number:
08868588
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 2022 | 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| Investments | 5 |
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| CURRENT ASSETS | |||||
| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Share premium account |
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| Income Statement |
( |
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| SHAREHOLDERS' FUNDS | 125,813 | 111,814 | |||
Crowdlords Limited
Statement of Financial Position (continued)
As at
31 January 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
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Director
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The notes on pages 3 to 7 form part of these financial statements.
Crowdlords Limited
Notes to the Financial Statements
For The Year Ended
31 January 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting polices adopted are set below.
1.2.
Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and have arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets relate to website development which is amortised to the profit and loss account over its estimated economic life of 10 years.
1.5.
Tangible Fixed Assets and Depreciation
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Computer Equipment |
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Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
1.6.
Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
1.7.
Government Grant
Government grants are recognised in the income statement in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the income statement. Grants towards general activities of the entity over a specific period are recognised in the income statement over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the income statement over the useful life of the asset concerned.
All grants in the income statement are recognised when all conditions for receipt have been complied with.
Job Retention Scheme
The company accounts for grants using the accrual method. The company received a government grant during the year of £37,381 which was in the form of the Corona-Virus Job Retention Scheme.
Government Assistance
The company received assistance in the form of a government backed loan (including Coronavirus Business Interruption Loan Scheme (CBILS), Coronavirus Large Business Interruption Loan Scheme (CLBILS), Bounce Back Loan Scheme (BBLS) and Future Fund Scheme) of £50,718 during the year ended 31 January 2022. This is reported the current and long term liabilities of the balance sheet based on the allocation of payments due within 12 months and greater than 12 months.
Crowdlords Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
1.8.
Fixed asset Investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.9.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.10.
Critical Accounting Judgements and Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers.These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2022 | 2021 | ||
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| Office and administration |
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3.
Intangible Assets
| Other | |||
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| £ | |||
| Cost | |||
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| Additions |
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| Amortisation | |||
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| Provided during the period |
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| Net Book Value | |||
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| As at
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Crowdlords Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
4.
Tangible Assets
| Computer Equipment | |
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| £ | |
| Cost | |
| As at
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| Disposals |
( |
| As at
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| Depreciation | |
| As at
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| Provided during the period |
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| Disposals |
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| As at
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| Net Book Value | |
| As at
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| As at
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5.
Investments
| Unlisted | |
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| £ | |
| Cost | |
| As at
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108,854 |
| As at
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108,854 |
| Provision | |
| As at
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- |
| As at
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- |
| Net Book Value | |
| As at
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108,854 |
| As at
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108,854 |
6.
Debtors
| 2022 | 2021 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Amounts owed by connected parties |
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| Amounts owed by group undertakings |
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Crowdlords Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
7.
Creditors: Amounts Falling Due Within One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Other taxes and social security |
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| VAT |
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| Net wages | 6,487 | - | |
| Other creditors |
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| Pension payable |
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| Accruals and deferred income |
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| Directors' loan accounts |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 2022 | 2021 | ||
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| £ | £ | ||
| Bank loans |
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Crowdlords Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 January 2022
10.
Related Party Transactions
The amounts owed by connected parties, Crowdventure (Llantwit) Limited, totalled £6,018 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Nine Ltd, totalled £31,497 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Seventeen Ltd, totalled £35,100 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Sixteen Ltd, totalled £18,875 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Twenty Six Ltd, totalled £6,400 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Twenty Five Ltd, totalled £64,073 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Twenty Seven Ltd, totalled £11,983 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Eight Ltd, totalled £28,700 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Twenty Ltd, totalled £59 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed to group undertakings, CL Number Twenty Nine Ltd, totalled £75 as at the year-end, is a current liability, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Twenty Eight Ltd, totalled £2,600 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed by group undertakings, CL Number Twenty Four Ltd, totalled £12,060 as at the year-end, is a current asset, interest free and repayable on demand.
The amounts owed to group undertakings, CL Number One Ltd, totalled £4,500 as at the year-end, is a current liability, interest free and repayable on demand.
The Directors loan account balance of Mr R B Bush £39,632 is a current liability, is interest free and repayable on demand.
The Directors loan account balance of Mr R Kumar £136,872 is a current liability, is interest free and repayable on demand.
11.
General Information
Crowdlords Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08868588
. The registered office is Lance Levy Farmhouse Wildmoor Lane, Sherfield-On-Loddon, Hook, RG27 0HB.