Company Registration No. 09927338 (England and Wales)
Fat Llama Ltd
Unaudited accounts
for the year ended 31 December 2020
Fat Llama Ltd
Unaudited accounts
Contents
Fat Llama Ltd
Company Information
for the year ended 31 December 2020
Directors
Rose Dallas
Charles Englander
Owen Arthur Turner-Major
Company Number
09927338 (England and Wales)
Registered Office
85 Great Portland Street
First Floor
London
W1W 7LT
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Fat Llama Ltd
Statement of financial position
as at
31 December 2020
Tangible assets
32,898
58,452
Cash at bank and in hand
240,494
307,240
Creditors: amounts falling due within one year
(6,908,647)
(6,829,376)
Net current liabilities
(6,120,967)
(5,679,101)
Total assets less current liabilities
(6,088,069)
(5,620,649)
Creditors: amounts falling due after more than one year
(50,000)
-
Provisions for liabilities
Deferred tax
(6,251)
(11,106)
Net liabilities
(6,144,320)
(5,631,755)
Called up share capital
14
14
Share premium
1,084,299
1,084,299
Profit and loss account
(7,228,633)
(6,716,068)
Shareholders' funds
(6,144,320)
(5,631,755)
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 24 June 2021 and were signed on its behalf by
Charles Englander
Director
Company Registration No. 09927338
Fat Llama Ltd
Notes to the Accounts
for the year ended 31 December 2020
Fat Llama Ltd is a private company, limited by shares, registered in England and Wales, registration number 09927338. The registered office is 85 Great Portland Street , First Floor , London , W1W 7LT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover is generated as a percentage of the rental cost of goods.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
33% straight line
Motor vehicles
25% straight line
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Expenditure on research and development is written off in the year in which it is incurred.
Research and development tax credit
During the financial year, Fat Llama Ltd received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Statement of Profit or Loss in line with disclosure requirements under FRS 102.
At the previous year-end there was an error in regards to Debtors and Sales. The adjustments are as follows:
Increase in Debtor Balance £90,019
Increase in Sales £90,019
The remaining prior year differences are immaterial in size and nature for disclosure.
Fat Llama Ltd
Notes to the Accounts
for the year ended 31 December 2020
This relates to the Coronavirus outbreak bounce-back loan. No repayments or interest are due in the first 12 months of the loan following which interest will be charged at the rate of 2.5% per annum.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2020
564
31,995
10,981
60,564
104,104
Additions
-
-
-
4,967
4,967
At 31 December 2020
564
31,995
10,981
65,531
109,071
At 1 January 2020
186
13,331
4,188
27,947
45,652
Charge for the year
186
7,999
2,519
19,817
30,521
At 31 December 2020
372
21,330
6,707
47,764
76,173
At 31 December 2020
192
10,665
4,274
17,767
32,898
At 31 December 2019
378
18,664
6,793
32,617
58,452
5
Debtors: amounts falling due within one year
2020
2019
Accrued income and prepayments
18,000
88,511
Other debtors
441,915
725,356
6
Creditors: amounts falling due within one year
2020
2019
Trade creditors
17,827
97
Amounts owed to group undertakings and other participating interests
6,843,868
6,796,343
Taxes and social security
29,256
-
Other creditors
17,696
32,936
7
Creditors: amounts falling due after more than one year
2020
2019
Fat Llama Ltd
Notes to the Accounts
for the year ended 31 December 2020
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Directors Loan Account
50,000
-
-
50,000
Directors Loan Account
40,019
-
-
40,019
The balances bought forward owed from directors were related to FY19 restatement. These amounts are still owing as at 31st December 2020.
The ultimate controlling party is Fat Llama Inc, a company incorporated in the USA.
10
Average number of employees
During the year the average number of employees was 10 (2019: 32).