Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31112021-01-01falseNo description of principal activity7truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08157708 2021-01-01 2021-12-31 08157708 2020-01-01 2020-12-31 08157708 2021-12-31 08157708 2020-12-31 08157708 c:Director1 2021-01-01 2021-12-31 08157708 c:Director2 2021-01-01 2021-12-31 08157708 c:Director3 2021-01-01 2021-12-31 08157708 c:RegisteredOffice 2021-01-01 2021-12-31 08157708 d:MotorVehicles 2021-01-01 2021-12-31 08157708 d:MotorVehicles 2021-12-31 08157708 d:MotorVehicles 2020-12-31 08157708 d:MotorVehicles d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08157708 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 08157708 d:OfficeEquipment 2021-01-01 2021-12-31 08157708 d:OfficeEquipment 2021-12-31 08157708 d:OfficeEquipment 2020-12-31 08157708 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08157708 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 08157708 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08157708 d:LeasedAssetsHeldAsLessee 2021-01-01 2021-12-31 08157708 d:CurrentFinancialInstruments 2021-12-31 08157708 d:CurrentFinancialInstruments 2020-12-31 08157708 d:Non-currentFinancialInstruments 2021-12-31 08157708 d:Non-currentFinancialInstruments 2020-12-31 08157708 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08157708 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 08157708 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08157708 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 08157708 d:ShareCapital 2021-12-31 08157708 d:ShareCapital 2020-12-31 08157708 d:SharePremium 2021-12-31 08157708 d:SharePremium 2020-12-31 08157708 d:RetainedEarningsAccumulatedLosses 2021-12-31 08157708 d:RetainedEarningsAccumulatedLosses 2020-12-31 08157708 c:OrdinaryShareClass1 2021-01-01 2021-12-31 08157708 c:OrdinaryShareClass1 2021-12-31 08157708 c:OrdinaryShareClass2 2021-01-01 2021-12-31 08157708 c:OrdinaryShareClass2 2020-12-31 08157708 c:FRS102 2021-01-01 2021-12-31 08157708 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 08157708 c:FullAccounts 2021-01-01 2021-12-31 08157708 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 08157708 d:HirePurchaseContracts d:WithinOneYear 2021-12-31 08157708 d:HirePurchaseContracts d:WithinOneYear 2020-12-31 08157708 d:HirePurchaseContracts d:BetweenOneFiveYears 2021-12-31 08157708 d:HirePurchaseContracts d:BetweenOneFiveYears 2020-12-31 08157708 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 08157708 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 08157708












STOLEN GOAT LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

 

STOLEN GOAT LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Notes to the financial statements
 
4 - 12


 

STOLEN GOAT LTD
 
COMPANY INFORMATION


Directors
T N Bland 
T W Morel 
A J Gorman 




Registered number
08157708



Registered office
Unit 20 Murrell Green Business Park
London Road

Hook

Hampshire

RG27 9GR




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:08157708
STOLEN GOAT LTD

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,011
41,878

Current assets
  

Stocks
  
741,402
581,184

Debtors: amounts falling due within one year
 5 
105,905
107,786

Cash at bank and in hand
  
41,178
410,008

  
888,485
1,098,978

Creditors: amounts falling due within one year
 6 
(557,294)
(761,053)

Net current assets
  
 
 
331,191
 
 
337,925

Total assets less current liabilities
  
381,202
379,803

Creditors: amounts falling due after more than one year
 7 
(282,510)
(162,058)

  
98,692
217,745

Provisions for liabilities
  

Deferred tax
 9 
(12,294)
(7,634)

Net assets
  
86,398
210,111


Capital and reserves
  

Called up share capital 
 10 
109
109

Share premium account
  
104,951
104,951

Profit and loss account
  
(18,662)
105,051

Total equity
  
86,398
210,111


Page 2


 
REGISTERED NUMBER:08157708
STOLEN GOAT LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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: 




T N Bland
Director

Date: 13 September 2022

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Stolen Goat Limited is a private company limited by shares incorporated in England and Wales. Its registered office is Unit 20 Murrell Green Business Park, London Road, Hook, Hampshire, RG27 9GR.
The financial statements are presented in Sterling (£).

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

On 30 January 2020 the World Health Organisation declared Coronavirus (COVID-19) a public health emergency. Following the outbreak of COVID-19 the company took advantage of some of the economic measures put in place by the UK Government and the company adapted its operations and overhead base accordingly. 
After making enquiries, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

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.

All foreign exchange gains and losses are presented in the Profit and Loss Account within 'administration expenses'.

Page 4

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and loss account in the same period as the related expenditure.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.8

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Office equipment
-
25%

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.

  
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 6

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.11

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.

  
2.12

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.


2.13

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The component parts of compound instruments issued by the company are classified separately as financial liabilities and equity in accordance with the substance of the contractual arrangement. On initial recognition the financial liability component is recorded at its fair value. The fair value of the liability component is estimated using the prevailing market interest rate for a similar instrument without equity features. The equity component is determined by deducting the amount of the liability component from the fair value of the compound instrument as a whole. This is recognised in equity and not subsequently remeasured.
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price, which excludes transaction costs for those financial assets that are subsequently measured at fair value through profit and loss. 
Such financial assets are subsequently measured at fair value through profit or loss, where they are publicly traded, or fair value can be measured reliably, for example by using a valuation technique. Where fair value cannot be measured reliably, the financial asset is measured at cost less impairment. 
 
Page 7

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)





Financial instruments (continued)

Financial liabilities

Basic financial liabilities, including trade and other creditors, and bank loans, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Derivative contracts 
Derivatives contracts, including interest rate swaps and foreign exchange forward contracts, are not basic financial instruments. 
Derivatives contracts are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in interest payable and similar expenses or interest receivable and similar income as appropriate. 
 
Derivative contracts 
The company enters into floating to fixed interest rate swaps to manage its exposure to cash flow risk on its variable rate debt instruments. These derivatives are measured at fair value at each reporting date. To the extent the hedge is effective, movements in fair value are recognised in other comprehensive income and presented in a separate cash flow hedge reserve. Any ineffectiveness is recognised in the profit and loss account for the year within interest payable and similar expenses.
 
Impairment of financial assets
Financial assets 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. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 8

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)





Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
If a transfer does not result in derecognition because the company has retained significant risks and rewards of ownership of the transferred asset, the company continues to recognise the transferred asset in its entirety and recognises a financial liability for the consideration received. The asset and liability are not offset. In subsequent periods, the company recognises any income on the transferred asset and any expense incurred on the financial liability. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
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.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2020 - 7).

Page 9

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2021
35,995
33,490
69,485


Additions
-
20,045
20,045



At 31 December 2021

35,995
53,535
89,530



Depreciation


At 1 January 2021
12,936
14,671
27,607


Charge for the year on owned assets
-
6,147
6,147


Charge for the year on financed assets
5,765
-
5,765



At 31 December 2021

18,701
20,818
39,519



Net book value



At 31 December 2021
17,294
32,717
50,011



At 31 December 2020
23,059
18,819
41,878


5.


Debtors

2021
2020
£
£

Trade debtors
62,750
104,036

Other debtors
25,955
3,750

Prepayments and accrued income
17,200
-

105,905
107,786


Page 10

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
6,667
5,000

Other loans
50,511
47,856

Trade creditors
385,024
583,222

Corporation tax
-
16,289

Other taxation and social security
69,443
88,251

Obligations under finance lease and hire purchase contracts
7,139
7,139

Other creditors
36,510
11,296

Accruals and deferred income
2,000
2,000

557,294
761,053



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
40,196
45,000

Other loans
232,695
100,300

Net obligations under finance leases and hire purchase contracts
9,619
16,758

282,510
162,058



8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2021
2020
£
£


Within one year
8,315
8,315

Between 1-5 years
11,186
19,501

19,501
27,816

Page 11

 

STOLEN GOAT LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

9.


Deferred taxation




2021


£



At 1 January 2021
(7,634)


Charged to the profit or loss
(4,660)



At 31 December 2021
(12,294)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(12,294)
(7,634)


10.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



109,000 (2020 - nil) Ordinary shares of £0.001 each
109
-
Nil (2020 - 109) Ordinary shares of £1.000 each
-
109

109

109


Page 12