Gobsmack Limited - Accounts to registrar (filleted) - small 18.2
Gobsmack Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| FOR |
| GOBSMACK LIMITED |
| GOBSMACK LIMITED (REGISTERED NUMBER: 10724493) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| GOBSMACK LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Cambridge House |
| 16 High Street |
| Saffron Walden |
| Essex |
| CB10 1AX |
| GOBSMACK LIMITED (REGISTERED NUMBER: 10724493) |
| BALANCE SHEET |
| 31 DECEMBER 2020 |
| 31/12/20 | 31/12/19 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Debtors | 4 |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Retained earnings |
| 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. |
| 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 |
| GOBSMACK LIMITED (REGISTERED NUMBER: 10724493) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 1. | STATUTORY INFORMATION |
| Gobsmack Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The ongoing worldwide pandemic of Covid-19 poses a threat to the short-term performance of the Company and assessments of the financial impact on the business are ongoing. It is possible that trade will suffer as a direct result of Covid-19, given that most business focus is channelled away from marketing and loyalty programmes at the moment and counterparties are therefore taking longer to make decisions on new marketing projects. However, Gobsmack is taking the opportunity to assist its clients and future prospects by offering solutions for digital deflection, permitting much reduced reliance on physical call centres. The is generating additional interest in the Company and its products, as businesses worldwide recognise the importance of rapid digital transformation. Business development continues, although it is likely to be slower moving than before the pandemic. Due to the uncertainty around the longevity of the Covid-19 crisis and the economic impact, the Company has taken measures to reduce its cash burn and cost burn. |
| Turnover |
| Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is show net of VAT and other sales related taxes. The fair value of the consideration takes in to account trade discounts, settlement discounts and volume rebates. |
| 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. |
| GOBSMACK LIMITED (REGISTERED NUMBER: 10724493) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 DECEMBER 2020 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2019 - NIL). |
| 4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/20 | 31/12/19 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/20 | 31/12/19 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 6. | PARENT COMPANY |
| The company's immediate and ultimate parent company is Gobsmack Holdings Limited, a company incorporated in the United Kingdom. |
| The directors consider there to be no ultimate controlling party. |