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Registration number: 11189102

Bandit Hat Creative Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Bandit Hat Creative Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Bandit Hat Creative Ltd

Company Information

Director

Mr Jeffrey Warren Clarke

Company secretary

Mr Jeffrey Warren Clarke

Registered office

98 Victoria Road
Wargrave
Reading
Ber

Accountants

SG Accountancy Solutions Ltd
106 Dunstable Road
Studham
Bedfordshire
LU6 2QL

 

Bandit Hat Creative Ltd

(Registration number: 11189102)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,311

5,518

Current assets

 

Debtors

5

519

-

Cash at bank and in hand

 

86

16,440

 

605

16,440

Creditors: Amounts falling due within one year

6

(712)

(12,540)

Net current (liabilities)/assets

 

(107)

3,900

Net assets

 

5,204

9,418

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

5,203

9,417

Shareholders' funds

 

5,204

9,418

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 23 November 2023
 

.........................................
Mr Jeffrey Warren Clarke
Company secretary and director

 

Bandit Hat Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom .

The address of its registered office is:
98 Victoria Road
Wargrave
Reading
Ber

These financial statements were authorised for issue by the director on 23 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Bandit Hat Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

15% of NBV

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Bandit Hat Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 March 2022

10,198

10,198

At 28 February 2023

10,198

10,198

Depreciation

At 1 March 2022

4,680

4,680

Charge for the year

207

207

At 28 February 2023

4,887

4,887

Carrying amount

At 28 February 2023

5,311

5,311

At 28 February 2022

5,518

5,518

5

Debtors

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

-

7,486

Other creditors

712

5,054

712

12,540

7

Share capital

Allotted, called up and fully paid shares

 

Bandit Hat Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

 

2023

2022

 

No.

£

No.

£

Ordinary Share of £1 each

1

1

1

1

         

8

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £Nil (2022 - £52,650.00) per ordinary share

 

2,000

 

52,400

         

9

Related party transactions

 

Bandit Hat Creative Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

730

8,844