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REGISTERED NUMBER: 11180213 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Governance Strategies Limited

Governance Strategies Limited (Registered number: 11180213)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Governance Strategies Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr M E Hatchard
Mrs A N Hatchard





SECRETARY: Mrs A N Hatchard





REGISTERED OFFICE: 14 North View
Wimbledon
London
SW19 4UJ





REGISTERED NUMBER: 11180213 (England and Wales)





ACCOUNTANTS: Butler & Co Alresford Limited
Chartered Accountants
Bennett House
The Dean
Alresford
Hampshire
SO24 9BH

Governance Strategies Limited (Registered number: 11180213)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 20,524 23,264
Investments 5 618,895 584,761
639,419 608,025

CURRENT ASSETS
Debtors 6 181,077 85,691
Cash at bank 51,431 82,083
232,508 167,774
CREDITORS
Amounts falling due within one year 7 66,389 42,864
NET CURRENT ASSETS 166,119 124,910
TOTAL ASSETS LESS CURRENT
LIABILITIES

805,538

732,935

PROVISIONS FOR LIABILITIES 8 43,041 29,290
NET ASSETS 762,497 703,645

CAPITAL AND RESERVES
Called up share capital 516 516
Share premium 14,985 14,985
Fair value reserve - non-distributable 166,865 106,026
Retained earnings 580,131 582,118
SHAREHOLDERS' FUNDS 762,497 703,645

Governance Strategies Limited (Registered number: 11180213)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 24 July 2024 and were signed on its behalf by:





Mr M E Hatchard - Director


Governance Strategies Limited (Registered number: 11180213)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Governance Strategies Limited 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of consideration received or receivable, excluding discounts and rebates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% reducing balance basis
Computer equipment - 33% reducing balance basis

Taxation
Taxation for the year comprises current 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 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Fixed asset investments
The investments are non-convertible ordinary shares measured at fair value through the profit or loss.

3. EMPLOYEES

The average number of employees during the year was NIL (2022 - NIL).

Governance Strategies Limited (Registered number: 11180213)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS
Plant and Computer
Buildings machinery equipment Totals
£    £    £    £   
COST
At 1 January 2023 9,736 18,000 6,931 34,667
Additions - - 1,138 1,138
At 31 December 2023 9,736 18,000 8,069 35,805
DEPRECIATION
At 1 January 2023 - 8,604 2,799 11,403
Charge for year - 1,409 2,469 3,878
At 31 December 2023 - 10,013 5,268 15,281
NET BOOK VALUE
At 31 December 2023 9,736 7,987 2,801 20,524
At 31 December 2022 9,736 9,396 4,132 23,264

5. FIXED ASSET INVESTMENTS
Listed Unlisted
investments investments Totals
£    £    £   
COST OR VALUATION
At 1 January 2023 518,542 66,219 584,761
Additions 17,044 117,307 134,351
Disposals (175,327 ) - (175,327 )
Revaluations 75,110 - 75,110
At 31 December 2023 435,369 183,526 618,895
NET BOOK VALUE
At 31 December 2023 435,369 183,526 618,895
At 31 December 2022 518,542 66,219 584,761

If the fixed asset investments had not been revalued they would have been included at a historical cost of £330,444 (2022 - £379,274).

The director has considered the value of the unlisted shares at 31 December 2023 and has concluded that the value has not changed and therefore cost represents the fair value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 34,496 30,853
Other debtors 146,581 54,838
181,077 85,691

Governance Strategies Limited (Registered number: 11180213)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Corporation tax 32,790 28,000
Directors' current accounts 31,799 3,064
Accrued expenses 1,800 11,800
66,389 42,864

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Investment revaluations 39,141 24,870
Accelerated capital allowances 3,900 4,420
43,041 29,290

Deferred
tax
£   
Balance at 1 January 2023 29,290
Accelerated capital allowances (520 )
Investment revaluations 14,271
Balance at 31 December 2023 43,041

9. RELATED PARTY DISCLOSURES

During the period under review the director incurred expenses on behalf of the company amounting to £780 (2022 - £6,746).

Laughter Lab Ltd
Subsidiary

During the period under review the company made purchases on behalf of Laughter Lab Ltd amounting to £3,893 (2022 - £14,416) and received sales on behalf of Laughter Lab Ltd amounting to £250 (2022 - £nil) during the period.

2023 2022
£ £
Amount due to/(from) related party at the balance sheet date:
Mr M E Hatchard 31,799 3,064
Laughter Lab Ltd (34,496 ) (30,853 )
(2,697 ) (16,108 )

10. ULTIMATE CONTROLLING PARTY

During the period under review the company was under the control of Mr M E Hatchard, the sole director and majority shareholder.