Catalyst for Good Causes Ltd Filleted accounts for Companies House (small and micro)

Catalyst for Good Causes Ltd Filleted accounts for Companies House (small and micro)

INTERCEDEMB HOLDINGS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08375717
Catalyst for Good Causes Ltd
Filleted Unaudited Financial Statements
31 March 2021
Catalyst for Good Causes Ltd
Financial Statements
Year ended 31 March 2021
Contents
Page
Statement of financial position
1
Notes to the financial statements
2
Catalyst for Good Causes Ltd
Statement of Financial Position
31 March 2021
2021
2020
Note
£
£
£
Current assets
Debtors
6
348
777
Cash at bank and in hand
4,547
7,635
-------
-------
4,895
8,412
Creditors: amounts falling due within one year
7
3,468
3,792
-------
-------
Net current assets
1,427
4,620
-------
-------
Total assets less current liabilities
1,427
4,620
Creditors: amounts falling due after more than one year
8
134,151
145,151
---------
---------
Net liabilities
( 132,724)
( 140,531)
---------
---------
Capital and reserves
Called up share capital
400,001
400,001
Profit and loss account
( 532,725)
( 540,532)
---------
---------
Shareholders deficit
( 132,724)
( 140,531)
---------
---------
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 Section 1A of 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 income and retained earnings has not been delivered.
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 members have 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 March 2022 , and are signed on behalf of the board by:
Mr M K Badale
Director
Company registration number: 08375717
Catalyst for Good Causes Ltd
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 and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company will continue to meet its current obligations for at least the next 12 months.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Development Costs
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Impairment of fixed assets
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 2 ).
5. Intangible assets
Development costs
£
Cost
At 1 April 2020 and 31 March 2021
11,827
--------
Amortisation
At 1 April 2020 and 31 March 2021
11,827
--------
Carrying amount
At 31 March 2021
–
--------
At 31 March 2020
–
--------
6. Debtors
2021
2020
£
£
Other debtors
348
777
----
----
7. Creditors: amounts falling due within one year
2021
2020
£
£
Trade creditors
2,344
1,934
Other creditors
1,124
1,858
-------
-------
3,468
3,792
-------
-------
8. Creditors: amounts falling due after more than one year
2021
2020
£
£
Other creditors
134,151
145,151
---------
---------
9. Related party transactions
At the balance sheet date, the company owed an individual who was a director at the year end £134,151 (2020 : £145,151).