Kookie Tattoo Limited 31/03/2021 iXBRL

Kookie Tattoo Limited 31/03/2021 iXBRL

KOOKIE TATTOO LIMITED - Company Information

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31/03/2021 2021-03-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2020-04-01 Sage Accounts Production 2020 Update 1 - FRS102_2014 xbrli:pure xbrli:shares iso4217:GBP 10664073 2020-04-01 2021-03-31 10664073 2021-03-31 10664073 2020-03-31 10664073 2019-04-01 2020-03-31 10664073 2020-03-31 10664073 2019-03-31 10664073 core:LandBuildings core:ShortLeaseholdAssets 2020-04-01 2021-03-31 10664073 core:PlantMachinery 2020-04-01 2021-03-31 10664073 bus:RegisteredOffice 2020-04-01 2021-03-31 10664073 bus:LeadAgentIfApplicable 2020-04-01 2021-03-31 10664073 bus:Director1 2020-04-01 2021-03-31 10664073 bus:CompanySecretary1 2020-04-01 2021-03-31 10664073 core:LandBuildings core:ShortLeaseholdAssets 2020-03-31 10664073 core:PlantMachinery 2020-03-31 10664073 core:FurnitureFittingsToolsEquipment 2020-03-31 10664073 core:LandBuildings core:ShortLeaseholdAssets 2021-03-31 10664073 core:PlantMachinery 2021-03-31 10664073 core:FurnitureFittingsToolsEquipment 2021-03-31 10664073 core:WithinOneYear 2021-03-31 10664073 core:WithinOneYear 2020-03-31 10664073 core:RetainedEarningsAccumulatedLosses 2019-04-01 2020-03-31 10664073 core:ShareCapital 2020-04-01 2021-03-31 10664073 core:RetainedEarningsAccumulatedLosses 2020-04-01 2021-03-31 10664073 core:ShareCapital 2021-03-31 10664073 core:ShareCapital 2020-03-31 10664073 core:RetainedEarningsAccumulatedLosses 2021-03-31 10664073 core:RetainedEarningsAccumulatedLosses 2020-03-31 10664073 core:ShareCapital 2019-03-31 10664073 core:RetainedEarningsAccumulatedLosses 2019-03-31 10664073 core:FurnitureFittingsToolsEquipment 2020-04-01 2021-03-31 10664073 core:LandBuildings core:ShortLeaseholdAssets 2020-03-31 10664073 core:PlantMachinery 2020-03-31 10664073 core:FurnitureFittingsToolsEquipment 2020-03-31 10664073 bus:Director1 2020-03-31 10664073 bus:Director1 2021-03-31 10664073 bus:SmallEntities 2020-04-01 2021-03-31 10664073 bus:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 10664073 bus:FullAccounts 2020-04-01 2021-03-31 10664073 bus:SmallCompaniesRegimeForAccounts 2020-04-01 2021-03-31 10664073 bus:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31
Company registration number: 10664073
Kookie Tattoo Limited
Unaudited filleted financial statements
31 March 2021
Kookie Tattoo Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Kookie Tattoo Limited
Directors and other information
Director Mr A Cook
Secretary Mr A Cook
Company number 10664073
Registered office 40 Southampton Road
Ringwood
BH24 1JD
Accountants Charlton Baker Limited
7-7c Snuff Street
Devizes
Wiltshire
SN10 1DU
Kookie Tattoo Limited
Statement of financial position
31 March 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 21,674 16,431
_______ _______
21,674 16,431
Current assets
Stocks 3,000 3,000
Debtors 6 29,528 5,996
Cash at bank and in hand 24,298 6,377
_______ _______
56,826 15,373
Creditors: amounts falling due
within one year 7 ( 74,094) ( 18,941)
_______ _______
Net current liabilities ( 17,268) ( 3,568)
_______ _______
Total assets less current liabilities 4,406 12,863
Provisions for liabilities ( 4,118) ( 2,633)
_______ _______
Net assets 288 10,230
_______ _______
Capital and reserves
Called up share capital 101 100
Profit and loss account 187 10,130
_______ _______
Shareholder funds 288 10,230
_______ _______
For the year ending 31 March 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 15 September 2021 , and are signed on behalf of the board by:
Mr A Cook
Director
Company registration number: 10664073
Kookie Tattoo Limited
Statement of changes in equity
Year ended 31 March 2021
Called up share capital Profit and loss account Total
£ £ £
At 1 April 2019 100 3,668 3,768
Profit for the year 47,867 47,867
_______ _______ _______
Total comprehensive income for the year - 47,867 47,867
Dividends paid and payable ( 41,405) ( 41,405)
_______ _______ _______
Total investments by and distributions to owners - ( 41,405) ( 41,405)
_______ _______ _______
At 31 March 2020 and 1 April 2020 100 10,130 10,230
Profit for the year 30,057 30,057
_______ _______ _______
Total comprehensive income for the year - 30,057 30,057
Issue of shares 1 1
Dividends paid and payable ( 40,000) ( 40,000)
_______ _______ _______
Total investments by and distributions to owners 1 ( 40,000) ( 39,999)
_______ _______ _______
At 31 March 2021 101 187 288
_______ _______ _______
Kookie Tattoo Limited
Notes to the financial statements
Year ended 31 March 2021
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 40 Southampton Road, Ringwood, BH24 1JD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Short leasehold property - 20 % straight line
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 33% Straight line and 15% Reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2020: 4 ).
5. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Total
£ £ £ £
Cost
At 1 April 2020 3,218 10,321 14,268 27,807
Additions 2,305 6,100 2,249 10,654
_______ _______ _______ _______
At 31 March 2021 5,523 16,421 16,517 38,461
_______ _______ _______ _______
Depreciation
At 1 April 2020 643 5,022 5,712 11,377
Charge for the year 1,104 1,822 2,484 5,410
_______ _______ _______ _______
At 31 March 2021 1,747 6,844 8,196 16,787
_______ _______ _______ _______
Carrying amount
At 31 March 2021 3,776 9,577 8,321 21,674
_______ _______ _______ _______
At 31 March 2020 2,575 5,299 8,556 16,430
_______ _______ _______ _______
6. Debtors
2021 2020
£ £
Other debtors 29,528 5,996
_______ _______
7. Creditors: amounts falling due within one year
2021 2020
£ £
Bank loans and overdrafts 50,000 -
Trade creditors - 1,220
Social security and other taxes 17,752 15,535
Other creditors 6,342 2,186
_______ _______
74,094 18,941
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2021
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr A Cook ( 1) 71,276 ( 46,312) 24,963
_______ _______ _______ _______