Cleversquirrel Limited Filleted accounts for Companies House (small and micro)

CLEVERSQUIRREL LTD - Company Information

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COMPANY REGISTRATION NUMBER: 06732967

CLEVERSQUIRREL LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2023

CLEVERSQUIRREL LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2023

	31 Mar 23		31 Oct 21
Note	£	£	£

Fixed assets

Tangible assets	5		–	334

Current assets

Debtors	6	20	–
Cash at bank and in hand		–	16,549
		----	---------
		20	16,549

Creditors: amounts falling due within one year	7	–		17,959
		----		---------
Net current assets/(liabilities)			20	( 1,410)
			----	-------
Total assets less current liabilities			20	( 1,076)

Provisions

Taxation including deferred tax	–	63
	----	-------
Net assets/(liabilities)	20	( 1,139)
	----	-------

Capital and reserves

Called up share capital	20	20
Profit and loss account	–	( 1,159)
	----	-------
Shareholders funds/(deficit)	20	( 1,139)
	----	-------

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 comprehensive income has not been delivered.

For the period ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CLEVERSQUIRREL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 26 April 2023 , and are signed on behalf of the board by:

Mr B R Bennis

Director

Company registration number: 06732967

CLEVERSQUIRREL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 NOVEMBER 2021 TO 31 MARCH 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 23 Birtley Rise, Bramley, Guildford, GU5 0HZ.

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.

Going concern

The company ceased trading on 31 March 2023 and is no longer considered to be a going concern.

Revenue recognition

Turnover represents the value of income and commissions for services provided to the extent that there is a right to consideration and is recorded at the value of consideration due.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity 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:

Plant & machinery	-	20% reducing balance
Fixtures, fittings & equipment	-	20% reducing balance

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, For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the entity 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.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 2 (2021: 2 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 November 2021	3,231	1,327	4,558
Disposals	( 3,231)	( 1,327)	( 4,558)
	-------	-------	-------
At 31 March 2023	–	–	–
	-------	-------	-------
Depreciation
At 1 November 2021	2,965	1,259	4,224
Charge for the period	71	18	89
Disposals	( 3,036)	( 1,277)	( 4,313)
	-------	-------	-------
At 31 March 2023	–	–	–
	-------	-------	-------
Carrying amount
At 31 March 2023	–	–	–
	-------	-------	-------
At 31 October 2021	266	68	334
	-------	-------	-------

6. Debtors

	31 Mar 23	31 Oct 21
	£	£
Other debtors	20	–
	----	----

7. Creditors: amounts falling due within one year

	31 Mar 23	31 Oct 21
	£	£
Corporation tax	–	2,420
Other creditors	–	15,539
	----	---------
	–	17,959
	----	---------

8. Directors' advances, credits and guarantees

At the year end the company was owed £20 by the directors.(2021 - the directors were owed £13,619 by the company).