Giggles and Wiggles Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 05169243 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2017

for

Giggles and Wiggles Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs J Jones

SECRETARY:

Mrs J Jones

REGISTERED OFFICE:

Pitfield House

The Brampton

Newcastle

Staffordshire

ST5 0QP

REGISTERED NUMBER:

05169243 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

10,000

Tangible assets

5

60,148

64,873

60,148

74,873

CURRENT ASSETS

Debtors

6

1,017

5,574

Cash at bank and in hand

176,893

124,363

177,910

129,937

CREDITORS

Amounts falling due within one year

7

71,555

65,009

NET CURRENT ASSETS

106,355

64,928

TOTAL ASSETS LESS CURRENT LIABILITIES

166,503

139,801

PROVISIONS FOR LIABILITIES

4,452

4,518

NET ASSETS

162,051

135,283

CAPITAL AND RESERVES

Called up share capital

75

75

Capital redemption reserve

25

25

Retained earnings

161,951

135,183

SHAREHOLDERS' FUNDS

162,051

135,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 14 November 2017 and were signed by:

Mrs K Wild - Director

1.	STATUTORY INFORMATION

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

These financial statements for the year ended 31st July 2017 are the first financial statements that comply with

section 1 A "Small Entities" of FRS 102. The date of transition is 1st August 2015. There are no transition

adjustments.

Turnover

Turnover represents invoiced sales of services.

Revenue is recognised as the company becomes entitled to consideration for the services supplied. Therefore,

turnover also includes the element of work completed but not yet invoiced.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised

over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Leasehold Buildings

-

Straight line over 15 years

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

Government grants

Government grants relating to revenue are released to the profit and loss account in the period to which they

relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 59 (2016 - 53 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2016

and 31 July 2017

216,000

AMORTISATION

At 1 August 2016

206,000

Charge for year

10,000

At 31 July 2017

216,000

NET BOOK VALUE

At 31 July 2017

-

At 31 July 2016

10,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Leasehold

and

Motor

Computer

Buildings

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2016

95,995

91,264

4,500

7,268

199,027

Additions

-

5,832

-

-

5,832

At 31 July 2017

95,995

97,096

4,500

7,268

204,859

DEPRECIATION

At 1 August 2016

59,499

67,460

1,125

6,070

134,154

Charge for year

4,799

4,445

844

469

10,557

At 31 July 2017

64,298

71,905

1,969

6,539

144,711

NET BOOK VALUE

At 31 July 2017

31,697

25,191

2,531

729

60,148

At 31 July 2016

36,496

23,804

3,375

1,198

64,873

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,017

5,574

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

31,206

29,625

Other creditors

40,349

35,384

71,555

65,009

8.	ULTIMATE CONTROLLING PARTY