Caseware UK (AP4) 2021.0.152 2021.0.152 2021-03-312021-03-31true2020-04-01falsescreenwriting24trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10191565 2020-04-01 2021-03-31 10191565 2019-04-01 2020-03-31 10191565 2021-03-31 10191565 2020-03-31 10191565 c:Director1 2020-04-01 2021-03-31 10191565 d:PlantMachinery 2020-04-01 2021-03-31 10191565 d:PlantMachinery 2021-03-31 10191565 d:PlantMachinery 2020-03-31 10191565 d:PlantMachinery d:OwnedOrFreeholdAssets 2020-04-01 2021-03-31 10191565 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2021-03-31 10191565 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2020-03-31 10191565 d:CurrentFinancialInstruments 2021-03-31 10191565 d:CurrentFinancialInstruments 2020-03-31 10191565 d:CurrentFinancialInstruments d:WithinOneYear 2021-03-31 10191565 d:CurrentFinancialInstruments d:WithinOneYear 2020-03-31 10191565 d:ShareCapital 2021-03-31 10191565 d:ShareCapital 2020-03-31 10191565 d:CapitalRedemptionReserve 2021-03-31 10191565 d:CapitalRedemptionReserve 2020-03-31 10191565 d:RetainedEarningsAccumulatedLosses 2021-03-31 10191565 d:RetainedEarningsAccumulatedLosses 2020-03-31 10191565 c:OrdinaryShareClass2 2020-04-01 2021-03-31 10191565 c:OrdinaryShareClass2 2021-03-31 10191565 c:OrdinaryShareClass2 2020-03-31 10191565 c:FRS102 2020-04-01 2021-03-31 10191565 c:AuditExempt-NoAccountantsReport 2020-04-01 2021-03-31 10191565 c:FullAccounts 2020-04-01 2021-03-31 10191565 c:PrivateLimitedCompanyLtd 2020-04-01 2021-03-31 10191565 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2020-04-01 2021-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10191565










STORY ISLAND LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2021

 
STORY ISLAND LIMITED
REGISTERED NUMBER: 10191565

BALANCE SHEET
AS AT 31 MARCH 2021

2021
2020
Note
£
£

Fixed assets
  

Intangible assets
 4 
84,853
106,066

Tangible assets
 5 
924
1,835

  
85,777
107,901

Current assets
  

Debtors: amounts falling due within one year
 6 
780
780

Cash at bank and in hand
 7 
1,212
14,618

  
1,992
15,398

Creditors: amounts falling due within one year
 8 
(216,168)
(214,566)

Net current liabilities
  
 
 
(214,176)
 
 
(199,168)

Total assets less current liabilities
  
(128,399)
(91,267)

  

Net liabilities
  
(128,399)
(91,267)


Capital and reserves
  

Called up share capital 
 9 
10
10

Capital redemption reserve
  
99
99

Profit and loss account
  
(128,508)
(91,376)

  
(128,399)
(91,267)


Page 1

 
STORY ISLAND LIMITED
REGISTERED NUMBER: 10191565
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



E R Magnan
Director

Date: 12 August 2022

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
STORY ISLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

1.


General information

Story Island Limited is a private limited company by share capital incorporated in England and Wales. The address of the registered office is 14th Floor, 33 Cavendish Square, London W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have provided assurance that they will continue to support the company to enable it to meet its liabilities as they fall due. On that basis, the accounts have been prepared on a going concern basis. 

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


The intangible fixed assets are amortised over 5 years straight line.

Page 3

 
STORY ISLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Page 4

 
STORY ISLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 4).

Page 5

 
STORY ISLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

4.


Intangible assets




Development expenditure

£



Cost


At 1 April 2020
106,066



At 31 March 2021

106,066



Amortisation


Charge for the year on owned assets
21,213



At 31 March 2021

21,213



Net book value



At 31 March 2021
84,853



At 31 March 2020
106,066



Page 6

 
STORY ISLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 April 2020
3,645



At 31 March 2021

3,645



Depreciation


At 1 April 2020
1,810


Charge for the year on owned assets
911



At 31 March 2021

2,721



Net book value



At 31 March 2021
924



At 31 March 2020
1,835


6.


Debtors

2021
2020
£
£


Tax recoverable
780
780



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
1,212
14,618


Page 7

 
STORY ISLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021

8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
17
-

Other taxation and social security
819
23

Other creditors
213,482
212,507

Accruals and deferred income
1,850
2,036

216,168
214,566



9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



1,000 (2020:1,000) Ordinary shares of £0.01 each
10
10





10.


Transactions with directors

Included in other creditors is an amount of £213,482 (2020: £212,507) owed to a director of the company. The loan is interest free, with no set repayment terms.

 
Page 8