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Registration number: 06968814

Streaky Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Streaky Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 9

 

Streaky Ltd

Company Information

Directors

Mr N Gould

Mrs L A Gould

Company secretary

Mr N Gould

Registered office

32 Bell Street The Coach House
32 Bell Street
Henley On Thames
Oxfordshire
RG9 2BH

Accountants

Perk Accounting Ltd
Office, 31 Cattle Market Street
Norwich
Norfolk
NR1 3DY

 

Streaky Ltd

(Registration number: 06968814)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

38,773

51,877

Current assets

 

Debtors

6

25,325

46,015

Cash at bank and in hand

 

144,071

70,293

 

169,396

116,308

Creditors: Amounts falling due within one year

7

(130,548)

(103,271)

Net current assets

 

38,848

13,037

Total assets less current liabilities

 

77,621

64,914

Creditors: Amounts falling due after more than one year

7

(29,337)

(33,420)

Provisions for liabilities

(9,694)

(9,857)

Net assets

 

38,590

21,637

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

37,590

20,637

Shareholders' funds

 

38,590

21,637

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 April 2024 and signed on its behalf by:
 

.........................................
Mr N Gould
Company secretary and director

 

Streaky Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
32 Bell Street The Coach House
32 Bell Street
Henley On Thames
Oxfordshire
RG9 2BH

These financial statements were authorised for issue by the Board on 1 April 2024.

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

 

Streaky Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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

25% Reducing balance

Motor Vehicles

25% Straight line on cost

Office equipment

25% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Fully amortised

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.

 

Streaky Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

Streaky Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 August 2022

10,000

10,000

At 31 July 2023

10,000

10,000

Amortisation

At 1 August 2022

10,000

10,000

At 31 July 2023

10,000

10,000

Carrying amount

At 31 July 2023

-

-

 

Streaky Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2022

97,448

22,395

9,168

129,011

Additions

5,057

-

-

5,057

Disposals

-

(22,395)

(822)

(23,217)

At 31 July 2023

102,505

-

8,346

110,851

Depreciation

At 1 August 2022

52,392

16,796

7,946

77,134

Charge for the year

12,120

5,599

100

17,819

Eliminated on disposal

-

(22,395)

(480)

(22,875)

At 31 July 2023

64,512

-

7,566

72,078

Carrying amount

At 31 July 2023

37,993

-

780

38,773

At 31 July 2022

45,056

5,599

1,222

51,877

6

Debtors

Current

2023
£

2022
£

Trade debtors

12,496

4,682

Other debtors

12,829

41,333

 

25,325

46,015

 

Streaky Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

7,463

14,991

Trade creditors

 

1,102

6,042

Taxation and social security

 

84,545

53,748

Accruals and deferred income

 

3,167

2,000

Other creditors

 

34,271

26,490

 

130,548

103,271

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

29,337

33,420

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

         

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

29,337

32,677

Hire purchase contracts

-

743

29,337

33,420

 

Streaky Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

3,889

6,131

Hire purchase contracts

-

8,860

Other borrowings

3,574

-

7,463

14,991