ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

WHITE MONKEY LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-06-302022-06-3022021-05-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10723672 2021-05-01 2022-06-30 10723672 2020-05-01 2021-04-30 10723672 2022-06-30 10723672 2021-04-30 10723672 c:Director1 2021-05-01 2022-06-30 10723672 d:FurnitureFittings 2021-05-01 2022-06-30 10723672 d:FurnitureFittings 2022-06-30 10723672 d:FurnitureFittings 2021-04-30 10723672 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-05-01 2022-06-30 10723672 d:CurrentFinancialInstruments 2022-06-30 10723672 d:CurrentFinancialInstruments 2021-04-30 10723672 d:Non-currentFinancialInstruments 2022-06-30 10723672 d:Non-currentFinancialInstruments 2021-04-30 10723672 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 10723672 d:CurrentFinancialInstruments d:WithinOneYear 2021-04-30 10723672 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 10723672 d:Non-currentFinancialInstruments d:AfterOneYear 2021-04-30 10723672 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 10723672 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-04-30 10723672 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 10723672 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-04-30 10723672 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-06-30 10723672 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-04-30 10723672 d:ShareCapital 2022-06-30 10723672 d:ShareCapital 2021-04-30 10723672 d:RetainedEarningsAccumulatedLosses 2022-06-30 10723672 d:RetainedEarningsAccumulatedLosses 2021-04-30 10723672 c:OrdinaryShareClass1 2021-05-01 2022-06-30 10723672 c:OrdinaryShareClass1 2022-06-30 10723672 c:OrdinaryShareClass1 2021-04-30 10723672 c:FRS102 2021-05-01 2022-06-30 10723672 c:AuditExempt-NoAccountantsReport 2021-05-01 2022-06-30 10723672 c:FullAccounts 2021-05-01 2022-06-30 10723672 c:PrivateLimitedCompanyLtd 2021-05-01 2022-06-30 10723672 2 2021-05-01 2022-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10723672

WHITE MONKEY LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 JUNE 2022

WHITE MONKEY LIMITED

REGISTERED NUMBER: 10723672

BALANCE SHEET

AS AT 30 JUNE 2022

	30 June	30 April
	2022	2021
Note	£	£

Fixed assets
Tangible assets	4		-		6,478
			-		6,478
Current assets
Stocks		-		1,875
Debtors: amounts falling due within one year	5	23,869		25,949
Cash at bank and in hand		210		4,707
		24,079		32,531
Creditors: amounts falling due within one year	6	(15,790)		(12,552)
Net current assets			8,289		19,979
Total assets less current liabilities			8,289		26,457
Creditors: amounts falling due after more than one year	7		(37,500)		(40,833)

Net liabilities			(29,211)		(14,376)

Capital and reserves
Called up share capital	9	100	100
Profit and loss account		(29,311)	(14,476)
		(29,211)	(14,376)

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WHITE MONKEY LIMITED

REGISTERED NUMBER: 10723672

BALANCE SHEET (CONTINUED)

AS AT 30 JUNE 2022

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 27 March 2023.

Julie Archer

Director

The notes on pages 3 to 8 form part of these financial statements.

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WHITE MONKEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

1.	General information

The Company is a private company, limited by shares, incorporated and domiciled in England within the United Kingdom, registration number 10723672. The Company's registered office is 47 Hewell Road, Barnt Green, Birmingham, United Kingdom, B45 8NL.
The financial statements are presented in sterling which is the functional currency of the company and the financial statements are rounded to the nearest £1.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

Cash flow
Under Financial Reporting Standard 102, the company is exempt from the requirement to prepare a cash flow statement on the grounds that it qualifies as a small company.

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

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WHITE MONKEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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WHITE MONKEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.9

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.11

Debtors

Short term debtors are measured at transaction price, less any impairment.

2.12

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.

2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially

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WHITE MONKEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

2.Accounting policies (continued)

2.14

Financial instruments (continued)

and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Employees

The average monthly number of employees, including directors, during the period was 1 (2021 - 2).

4.	Tangible fixed assets

		Fixtures and fittings
		£

	At 1 May 2021	7,983
	Disposals	(7,983)
	At 30 June 2022	-

	At 1 May 2021	1,505
	Charge for the period on owned assets	6,478
	Disposals	(7,983)
	At 30 June 2022	-
	Net book value
	At 30 June 2022	-
	At 30 April 2021	6,478

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WHITE MONKEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

Debtors

					30 June	30 April
					2022	2021
					£	£


Trade debtors	-	970
Other debtors	23,869	24,979
	23,869	25,949

Bank loans	10,000	9,167
Other taxation and social security	-	2,245
Other creditors	5,220	-
Accruals and deferred income	570	1,140
	15,790	12,552

Bank loans	37,500	40,833
	37,500	40,833

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WHITE MONKEY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2022

Amounts falling due within one year
Bank loans	10,000	9,167
	10,000	9,167
Amounts falling due 1-2 years
Bank loans	10,000	10,000
	10,000	10,000
Amounts falling due 2-5 years
Bank loans	27,500	30,000
	27,500	30,000
Amounts falling due after more than 5 years
Bank loans	-	834
	-	834
	47,500	50,001

Allotted, called up and fully paid

100 (2021 - 100) Ordinary shares of £1.0 each	100	100

10.	Transactions with directors

As at the balance sheet date £5,220 (2021 - £1,109 was due from the director) was due to the director. The loan is interest free and repayable on demand.

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