2022-12-012023-11-302023-11-30false13751969KRAGE PRODUCTION 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KRAGE PRODUCTION LTD

Registered Number
13751969
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

KRAGE PRODUCTION LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Danielle Eve Krage
Jeremiah Krage

Registered Address

179 Park Lane
Poynton
SK12 1RH

Registered Number

13751969 (England and Wales)
KRAGE PRODUCTION LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets3-35,833
-35,833
Current assets
Debtors6,2068,500
Cash at bank and on hand1955,189
6,40113,689
Creditors amounts falling due within one year5(21,436)(33,168)
Net current assets (liabilities)(15,035)(19,479)
Total assets less current liabilities(15,035)16,354
Net assets(15,035)16,354
Capital and reserves
Called up share capital100100
Profit and loss account(15,135)16,254
Shareholders' funds(15,035)16,354
The financial statements were approved and authorised for issue by the Board of Directors on 15 February 2024, and are signed on its behalf by:
Danielle Eve Krage
Director
Registered Company No. 13751969
KRAGE PRODUCTION LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Judgements and key sources of estimation uncertainty
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably.
Cryptocurrency assets
Cryptocurrency assets (under IAS 38) are recorded as intangible assets and can be measured at either cost or revaluation. The company has elected to measure them at revaluation as there is now an active market across across many digital exchanges. Therefore, these are recognised at fair value. The assets are held for investment purposes and therefore cannot be recognised as stock as they are not being held for sale in the ordinary course of business.
2.Average number of employees

20232022
Average number of employees during the year22
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 December 2235,83335,833
Additions1,9951,995
Disposals(37,828)(37,828)
Net book value
At 30 November 23--
At 30 November 2235,83335,833
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables460-
Other debtors5,7468,500
Total6,2068,500
Short term trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables114-
Taxation and social security-4,496
Other creditors21,32228,672
Total21,43633,168
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.
6.Provisions for liabilities
Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of going the amount of the obligation. Provisions are charged as an expense to the profit and loss account in the year that the company becomes aware of the obligation and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the balance sheet.