Laughter Lab Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12695119 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Laughter Lab Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mrs A N Hatchard

SECRETARY:

M E Hatchard

REGISTERED OFFICE:

14 North View

Wimbledon

London

SW19 4UJ

REGISTERED NUMBER:

12695119 (England and Wales)

ACCOUNTANTS:

Butler & Co Alresford Limited

Chartered Accountants

Bennett House

The Dean

Alresford

Hampshire

SO24 9BH

FIXED ASSETS

Intangible assets

4

-

600

Tangible assets

5

-

101

-

701

CURRENT ASSETS

Debtors

6

-

2,434

CREDITORS

Amounts falling due within one year

7

35,671

20,708

NET CURRENT LIABILITIES

(35,671

)

(18,274

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(35,671

)

(17,573

)

CAPITAL AND RESERVES

Called up share capital

9

5,000

5,000

Retained earnings

(40,671

)

(22,573

)

SHAREHOLDERS' FUNDS

(35,671

)

(17,573

)

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

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

The director acknowledges her 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 July 2023 and were signed by:

Mrs A N Hatchard - Director

1.	STATUTORY INFORMATION

Laughter Lab 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.

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.

The director considers the use of the going concern basis of accounting appropriate because there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern. The financial statements have therefore been prepared on a going concern basis. The director has confirmed that she will continue to support the company and will not recall her loan if it would render the company unable to pay its liabilities as they fall due. The parent company, Governance Strategies Limited, also confirms its continued support for a period of more than 12 months from the balance sheet date and confirms that it will not recall its loan account if it would render the company unable to pay its liabilities as they fall due.

Turnover

Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of three years.

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% on cost

Taxation

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 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.

3.

EMPLOYEES

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

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2022

and 31 December 2022

1,800

AMORTISATION

At 1 January 2022

1,200

Charge for year

600

At 31 December 2022

1,800

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

600

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2022

and 31 December 2022

302

DEPRECIATION

At 1 January 2022

201

Charge for year

101

At 31 December 2022

302

NET BOOK VALUE

At 31 December 2022

-

At 31 December 2021

101

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Deferred tax asset

-

2,434

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Amounts owed to group undertakings

30,853

16,436

Directors' current accounts

3,768

3,552

Accrued expenses

1,050

720

35,671

20,708

8.	DEFERRED TAX

£

Balance at 1 January 2022

(2,434

)

Accelerated capital allowances

(19

)

Unrelieved trading losses

2,453

Balance at 31 December 2022

-

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

5,000

Ordinary

£1

5,000

5,000

10.	RELATED PARTY DISCLOSURES

Mrs A Hatchard

Director

During the period under review the director incurred expenses on behalf of the company amounting to £216 (2021 - £359).

Governance Strategies Limited

Parent company

During the period under review Governance Strategies Limited incurred expenses on behalf of the company amounting to £14,416 (2021 - £16,661) and received income on behalf of the company amounting to £nil (2021 - £1,150).

2022

2021

Amount due to related party at the balance sheet date:

£

£

Mrs A N Hatchard

3,768

3,552

Governance Strategies Limited

30,853

16,436

11.	ULTIMATE CONTROLLING PARTY

The company is a subsidiary of Governance Strategies Limited, the majority shareholder.