Company registration number 13019225 (England and Wales)
THE CHANGE BUBBLE LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
THE CHANGE BUBBLE LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
THE CHANGE BUBBLE LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
78,830
86,365
Current assets
Debtors
4
98,752
81,050
Cash at bank and in hand
12,275
41,098
111,027
122,148
Creditors: amounts falling due within one year
5
(101,141)
(135,367)
Net current assets/(liabilities)
9,886
(13,219)
Total assets less current liabilities
88,716
73,146
Creditors: amounts falling due after more than one year
6
(35,972)
-
0
Provisions for liabilities
(9,450)
(11,120)
Net assets
43,294
62,026
Capital and reserves
Called up share capital
5
5
Profit and loss reserves
43,289
62,021
Total equity
43,294
62,026

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

THE CHANGE BUBBLE LTD
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 27 August 2024 and are signed on its behalf by:
Cindy Wong Shankaya
Director
Company registration number 13019225 (England and Wales)
THE CHANGE BUBBLE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information

The Change Bubble Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 65 Hampden Way, Southgate, London, UK, N14 5DJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property
2% on cost
Fixtures and fittings
18% reducing balance
Motor vehicles
18% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

THE CHANGE BUBBLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Improvements to property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 December 2022
42,740
3,699
50,762
97,201
Additions
-
0
1,618
-
0
1,618
At 30 November 2023
42,740
5,317
50,762
98,819
Depreciation and impairment
At 1 December 2022
855
844
9,137
10,836
Depreciation charged in the year
855
805
7,493
9,153
At 30 November 2023
1,710
1,649
16,630
19,989
Carrying amount
At 30 November 2023
41,030
3,668
34,132
78,830
At 30 November 2022
41,885
2,855
41,625
86,365
THE CHANGE BUBBLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
-
0
22,439
Other debtors
98,752
58,611
98,752
81,050
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,495
63,123
Corporation tax
73,834
50,664
Other taxation and social security
18,443
21,454
Other creditors
7,369
126
101,141
135,367
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
35,972
-
0
THE CHANGE BUBBLE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
2.00
40,454
12,884
53,338
2.25
-
25,769
25,769
40,454
38,653
79,107

The loan is unsecured, interest is charged at 2% and 2.25% per annum and loan is repayable on demand.

8
Ultimate Controlling Party

The controlling party is Cindy Wong Shankaya.

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