Kara Goodrich Limited
Kara Goodrich Limited
Registered number: 08978891
Unaudited Financial Statements
For The Year Ended
30 April 2021
Kara Goodrich Limited
Unaudited Financial Statements
For The Year Ended
30 April 2021
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Company Information | 1 |
| Balance Sheet | 2—3 |
| Statement of Changes in Equity | 4 |
| Notes to the Financial Statements | 5—7 |
Kara Goodrich Limited
Company Information
For The Year Ended
30 April 2021
Company Information
| Director |
|
| Company Number |
|
| Registered Office | First Floor, New Barnes Mill |
| Cottonmill Lane | |
| St Albans | |
| AL1 2HA | |
| Accountants |
|
| Chartered Accountants | |
|
|
|
| Cottonmill Lane | |
| St Albans | |
| AL1 2HA | |
Kara Goodrich Limited
Balance Sheet
As at
30 April 2021
Balance Sheet
Registered number:
08978891
For the year ending 30 April 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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.
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 3 |
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| CURRENT ASSETS | |||||
| Debtors | 4 |
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| Creditors: Amounts Falling Due Within One Year | 5 |
( |
( |
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| NET CURRENT ASSETS (LIABILITIES) |
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( |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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( |
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| Creditors: Amounts Falling Due After More Than One Year | 6 |
( |
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| NET LIABILITIES |
( |
( |
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| CAPITAL AND RESERVES | |||||
| Called up share capital |
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| Profit and Loss Account |
( |
( |
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| SHAREHOLDERS' FUNDS | (5,141) | (6,374) | |||
Kara Goodrich Limited
Balance Sheet (continued)
As at
30 April 2021
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 Profit and Loss Account.
On behalf of the board
|
Director
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|
The notes on pages 5 to 7 form part of these financial statements.
Kara Goodrich Limited
Statement of Changes in Equity
For The Year Ended
30 April 2021
Statement of Changes in Equity
| Share Capital | Profit and Loss Account | Total | |
|---|---|---|---|
| £ | £ | £ | |
| As at 1 May 2019 |
|
|
7,667 |
| Loss for the year and total comprehensive income | - |
( |
(14,041) |
| As at 30 April 2020 and 1 May 2020 |
|
( |
(6,374) |
| Profit for the year and total comprehensive income | - |
|
1,233 |
| As at
|
|
( |
(5,141) |
Kara Goodrich Limited
Notes to the Financial Statements
For The Year Ended
30 April 2021
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£).
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2.
Going Concern Disclosure
At 30 April 2021, the balance sheet showed net current assets of £8,257 (2020 net current liabilities - £7,038) and a net deficit of £5,141 (2020 - £6,374). The director has given an undertaking to financially support the company for at least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this time. On this basis, the director considers it appropriate to prepare the financial statements on the going concern basis.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 |
|
1.5.
Taxation
Taxation expense represents the sum of the tax currently payable and deferred tax.
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 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 is recognised in respect of all timing difference that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in the tax assessments in periods different from those in which they are recognised in the 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Kara Goodrich Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2021
1.6.
Government Grant
Government grants are recognised in the profit and loss account 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 profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account 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 profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
1.7.
Trade debtors
Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.
1.8.
Provisions and accruals
Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount can be reliably estimated. Provisions are not recognised for future operating losses.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1 (2020: 1)
3.
Tangible Assets
| Computer Equipment | |
|---|---|
| £ | |
| 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 |
( |
| As at
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| Net Book Value | |
| As at
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| As at
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4.
Debtors
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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| Director's loan account |
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Kara Goodrich Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 April 2021
5.
Creditors: Amounts Falling Due Within One Year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
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| Bank loans and overdrafts |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Accruals and deferred income |
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6.
Creditors: Amounts Falling Due After More Than One Year
| 2021 | 2020 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
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7.
Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
| As at
|
Amounts advanced | Amounts repaid | Amounts written off | As at
|
|
|---|---|---|---|---|---|
| £ | £ | £ | £ | £ | |
| Ms Kara Goodrich |
|
|
( |
- |
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The above loan is unsecured, interest free and repayable on demand.
8.
General Information
Kara Goodrich Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08978891
. The registered office is First Floor, New Barnes Mill, Cottonmill Lane, St Albans, AL1 2HA.