Yogscast Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07620479 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

YOGSCAST LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L A Brindley

S C Lane

R Keith

REGISTERED OFFICE:

Victoria House

26 Queen Victoria Street

Reading

Berkshire

RG1 1TG

REGISTERED NUMBER:

07620479 (England and Wales)

FIXED ASSETS

Tangible assets

4

261,184

239,517

Investments

5

189,652

-

450,836

239,517

CURRENT ASSETS

Debtors

6

927,413

770,841

Prepayments and accrued income

86,678

71,587

Cash at bank and in hand

1,252,771

1,411,976

2,266,862

2,254,404

CREDITORS

Amounts falling due within one year

7

1,681,520

1,610,146

NET CURRENT ASSETS

585,342

644,258

TOTAL ASSETS LESS CURRENT LIABILITIES

1,036,178

883,775

PROVISIONS FOR LIABILITIES

31,239

28,572

NET ASSETS

1,004,939

855,203

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,004,839

855,103

SHAREHOLDERS' FUNDS

1,004,939

855,203

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 March 2023 and were signed on its behalf by:

L A Brindley - Director

1.	STATUTORY INFORMATION

Yogscast Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when a company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33.3% straight line

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial assets and liabilities

Trade and other debtors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method, less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Loans receivable are measured initially at fair value, net of transaction costs, and non-current loans receivable are subsequently remeasured to amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents comprise cash at bank and in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities.

Trade and other creditors are initially recognised at transaction price and are subsequently remeasured to amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Loans payable are measured initially at fair value, net of transaction costs, and non-current loans payable are subsequently remeasured to amortised cost using the effective interest method.

Going concern

The directors are not aware of any material uncertainties that may cast significant doubt over the ability of the company to continue trading. The preparation of the financial statements on the going concern basis is therefore deemed appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2021 - 19 ) .

4.	TANGIBLE FIXED ASSETS

Leasehold

Computer

Improvements

equipment

Totals

£

£

£

COST

At 1 April 2021

203,318

457,680

660,998

Additions

35,620

7,859

43,479

At 31 March 2022

238,938

465,539

704,477

DEPRECIATION

At 1 April 2021

-

421,481

421,481

Charge for year

-

21,812

21,812

At 31 March 2022

-

443,293

443,293

NET BOOK VALUE

At 31 March 2022

238,938

22,246

261,184

At 31 March 2021

203,318

36,199

239,517

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

189,652

At 31 March 2022

189,652

NET BOOK VALUE

At 31 March 2022

189,652

6.

DEBTORS

31.3.22

31.3.21

£

£

Amounts falling due within one year:

Trade debtors

367,123

384,749

Other debtors

192,920

386,092

560,043

770,841

31.3.22

31.3.21

£

£

Amounts falling due after more than one year:

Other debtors

367,370

-

Aggregate amounts

927,413

770,841

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

1,022,344

593,124

Taxation and social security

53,407

69,421

Other creditors

605,769

947,601

1,681,520

1,610,146

8.	OTHER FINANCIAL COMMITMENTS

At 31 March 2022, the company had total commitments under non-cancellable operating leases over the remaining life of the leases of £456,480.

9.	RELATED PARTY DISCLOSURES

During the year the company entered into transactions with companies under common control.

Dwarf Beard Limited

During the year Dwarf Beard Limited provided services to Yogscast Ltd valued at £28,596 (2021: £34,149). At the year end, £76,635 (2021: £79,762) was due to Dwarf Beard Limited.

Verigans Holdings Limited

During the year Verigan Holdings Limited provided services to Yogscast Ltd valued at £170,705 (2021: £141,182). At the year end, £790,774 (2021: £790,774) was due to Verigans Holdings Limited.

Fourth Floor Creative Limited

During the year Yogscast Ltd provided services to Fourth Floor Creative Limited valued at £40,946 (2021: £248,668) and Fourth Floor Creative Limited provided services to Yogscast Ltd valued at £85,720. At the year end, £410,660 (2021: £232,034) was due from Fourth Floor Creative Limited.