Company registration number 05809453 (England and Wales)
CRIB GOGH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
CRIB GOGH LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CRIB GOGH LIMITED
BALANCE SHEET
AS AT 31 MAY 2023
31 May 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
166
5,919
Current assets
Stocks
96,254
133,493
Debtors
5
6,941
23,919
Cash at bank and in hand
24,285
9,819
127,480
167,231
Creditors: amounts falling due within one year
6
(1,172,684)
(1,190,185)
Net current liabilities
(1,045,204)
(1,022,954)
Net liabilities
(1,045,038)
(1,017,035)
Capital and reserves
Called up share capital
7
1,000
1,000
Profit and loss reserves
(1,046,038)
(1,018,035)
Total equity
(1,045,038)
(1,017,035)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 27 February 2024 and are signed on its behalf by:
Mr P.B. Frayling
Director
Company registration number 05809453 (England and Wales)
CRIB GOGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information
Crib Gogh Limited is a private company limited by shares incorporated in England and Wales. The registered office is Frayling Business Park, Davenport Street, Burslem, Stoke on Trent, ST6 4LN.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The accounts are prepared on the going concern basis which depends on the continuing support of the company's directors who are currently providing loan finance to support the company's activities.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and is derived from continuing activities in the United Kingdom.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
over 7 years
Computer equipment
over 1 - 4 years
Motor vehicles
over 4 years
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
CRIB GOGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
5
6
3
Intangible fixed assets
Patents
£
Cost
At 1 June 2022 and 31 May 2023
24,045
Amortisation and impairment
At 1 June 2022 and 31 May 2023
24,045
Carrying amount
At 31 May 2023
At 31 May 2022
CRIB GOGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022
21,673
Disposals
(9,995)
At 31 May 2023
11,678
Depreciation and impairment
At 1 June 2022
15,754
Depreciation charged in the year
1,172
Eliminated in respect of disposals
(5,414)
At 31 May 2023
11,512
Carrying amount
At 31 May 2023
166
At 31 May 2022
5,919
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,381
13,435
Corporation tax recoverable
8,279
Other debtors
1,560
2,205
6,941
23,919
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,566
9,897
Corporation tax
775
Other taxation and social security
1,939
Other creditors
1,166,044
1,178,038
Accruals and deferred income
2,360
2,250
1,172,684
1,190,185
Other creditors represent loan finance from the directors of the company.
CRIB GOGH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 5 -
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000