IRIS Accounts Production v23.3.0.418 09165801 Board of Directors 1.4.23 30.9.23 30.9.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh091658012023-03-31091658012023-09-30091658012023-04-012023-09-30091658012022-03-31091658012022-04-012023-03-31091658012023-03-3109165801ns10:Originalns15:EnglandWales2023-04-012023-09-3009165801ns14:PoundSterlingns10:Original2023-04-012023-09-3009165801ns10:Originalns10:Director12023-04-012023-09-3009165801ns10:Original2023-04-012023-09-3009165801ns10:Original2023-09-3009165801ns10:Originalns10:PrivateLimitedCompanyLtd2023-04-012023-09-3009165801ns10:Originalns10:SmallEntities2023-04-012023-09-3009165801ns10:Originalns10:AuditExempt-NoAccountantsReport2023-04-012023-09-3009165801ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2023-04-012023-09-3009165801ns10:SmallCompaniesRegimeForAccountsns10:Original2023-04-012023-09-3009165801ns10:Originalns10:FullAccounts2023-04-012023-09-3009165801ns10:Original12023-04-012023-09-3009165801ns10:Originalns10:Director22023-04-012023-09-3009165801ns10:Originalns10:RegisteredOffice2023-04-012023-09-3009165801ns10:Original2023-03-3109165801ns10:Originalns5:CurrentFinancialInstruments2023-09-3009165801ns10:Originalns5:CurrentFinancialInstruments2023-03-3109165801ns10:Originalns5:Non-currentFinancialInstruments2023-09-3009165801ns10:Originalns5:Non-currentFinancialInstruments2023-03-3109165801ns5:ShareCapitalns10:Original2023-09-3009165801ns5:ShareCapitalns10:Original2023-03-3109165801ns10:Originalns5:SharePremium2023-09-3009165801ns10:Originalns5:SharePremium2023-03-3109165801ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-09-3009165801ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3109165801ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2023-04-012023-09-3009165801ns10:Originalns5:ComputerEquipment2023-04-012023-09-3009165801ns10:Original2022-04-012023-03-3109165801ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-3109165801ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2023-09-3009165801ns10:Originalns5:PatentsTrademarksLicencesConcessionsSimilar2023-03-3109165801ns10:Originalns5:ComputerEquipment2023-03-3109165801ns10:Originalns5:ComputerEquipment2023-09-3009165801ns10:Originalns5:ComputerEquipment2023-03-3109165801ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3009165801ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3109165801ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-09-3009165801ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3109165801ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3009165801ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3109165801ns10:Original1ns10:Director12023-03-3109165801ns10:Original1ns10:Director12022-03-3109165801ns10:Original1ns10:Director12023-04-012023-09-3009165801ns10:Original1ns10:Director12022-04-012023-03-3109165801ns10:Original1ns10:Director12023-09-3009165801ns10:Original1ns10:Director12023-03-3109165801ns10:Originalns10:Director222023-03-3109165801ns10:Originalns10:Director222022-03-3109165801ns10:Originalns10:Director222023-04-012023-09-3009165801ns10:Originalns10:Director222022-04-012023-03-3109165801ns10:Originalns10:Director222023-09-3009165801ns10:Originalns10:Director222023-03-31
REGISTERED NUMBER: 09165801 (England and Wales)











Unaudited Financial Statements

for the Period 1 April 2023 to 30 September 2023

for

Cheerfy Ltd

Cheerfy Ltd (Registered number: 09165801)

Contents of the Financial Statements
for the Period 1 April 2023 to 30 September 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Cheerfy Ltd

Company Information
for the Period 1 April 2023 to 30 September 2023







DIRECTORS: C Gomez Vendrell
A Maseda Fernandez





REGISTERED OFFICE: 1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY





REGISTERED NUMBER: 09165801 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Cheerfy Ltd (Registered number: 09165801)

Statement of Financial Position
30 September 2023

2023 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 141 178
Tangible assets 5 5,860 4,533
6,001 4,711

CURRENT ASSETS
Stocks 6 - 953
Debtors 7 125,009 100,236
Cash at bank 285,289 505,718
410,298 606,907
CREDITORS
Amounts falling due within one year 8 (197,316 ) (256,808 )
NET CURRENT ASSETS 212,982 350,099
TOTAL ASSETS LESS CURRENT
LIABILITIES

218,983

354,810

CREDITORS
Amounts falling due after more than one
year

9

(29,033

)

(29,033

)
NET ASSETS 189,950 325,777

CAPITAL AND RESERVES
Called up share capital 10 2 2
Share premium 2,222,829 2,154,768
Retained earnings (2,032,881 ) (1,828,993 )
SHAREHOLDERS' FUNDS 189,950 325,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Cheerfy Ltd (Registered number: 09165801)

Statement of Financial Position - continued
30 September 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 November 2023 and were signed on its behalf by:





A Maseda Fernandez - Director


Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements
for the Period 1 April 2023 to 30 September 2023


1. STATUTORY INFORMATION

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

The current period was shortened for administrative purposes. As a result the comparatives, including the notes, are not entirely comparable with the current period.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the value of the services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and as part of creditors due within one year.

Intangible fixed assets
Intangible assets are amortised over their useful lives of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.33% on cost

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement 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 statement of financial position date.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2023


2. ACCOUNTING POLICIES - continued

Going concern
The directors have assessed the current position of the company and its future anticipated results. At the time of approving these financial statements, the directors consider that the company has adequate resources to continue in operational existence for the foreseeable future and as a result have adopted a going concern basis in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 12 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 April 2023
and 30 September 2023 738
AMORTISATION
At 1 April 2023 560
Amortisation for period 37
At 30 September 2023 597
NET BOOK VALUE
At 30 September 2023 141
At 31 March 2023 178

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2023 10,566
Additions 3,011
Disposals (550 )
At 30 September 2023 13,027
DEPRECIATION
At 1 April 2023 6,033
Charge for period 1,195
Eliminated on disposal (61 )
At 30 September 2023 7,167
NET BOOK VALUE
At 30 September 2023 5,860
At 31 March 2023 4,533

Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2023


6. STOCKS
2023 2023
£    £   
Stocks - 953

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Trade debtors 116,053 98,001
Other debtors - 129
VAT 5,420 1,559
Prepayments 3,536 547
125,009 100,236

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2023
£    £   
Bank loans 7,817 65,483
Trade creditors 11,515 61,044
Social security and other taxes 18,481 4,341
Other creditors 42,546 3,678
Directors' loan accounts 9,625 11,292
Accruals and deferred income 107,332 110,970
197,316 256,808

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2023
£    £   
Bank loans - 1-2 years 13,400 13,400
Bank loans - 2-5 years 15,633 15,633
29,033 29,033

10. CALLED UP SHARE CAPITAL

186,162 £0.0000001 Ordinary shares were issued and fully paid on 22 June 2023.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 September 2023 and the year ended 31 March 2023:

2023 2023
£    £   
A Maseda Fernandez
Balance outstanding at start of period (7,713 ) (4,848 )
Amounts advanced 26,344 767
Amounts repaid (24,498 ) (3,632 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (5,867 ) (7,713 )

Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements - continued
for the Period 1 April 2023 to 30 September 2023


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

C Gomez Vendrell
Balance outstanding at start of period (3,579 ) (3,019 )
Amounts advanced 68 4,748
Amounts repaid (247 ) (5,308 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (3,758 ) (3,579 )

The above loans are unsecured, interest free and repayable on demand.