Company Registration No. 11699775 (England and Wales)
Guardara Ltd
Unaudited accounts
for the year ended 30 November 2023
Guardara Ltd
Unaudited accounts
Contents
Guardara Ltd
Company Information
for the year ended 30 November 2023
Directors
Zsolt Imre
Mitali Rakhit
Company Number
11699775 (England and Wales)
Registered Office
86-90 Paul Street
London
EC2A 4NE
United Kingdom
Accountants
Yes Accountants
124 City Road
London
EC1V 2NX
Guardara Ltd
Statement of financial position
as at 30 November 2023
Cash at bank and in hand
5,752
31,933
Creditors: amounts falling due within one year
(21,888)
(27,431)
Net current (liabilities)/assets
(16,136)
42,313
Total assets less current liabilities
(15,834)
42,919
Creditors: amounts falling due after more than one year
(21,714)
(21,714)
Net (liabilities)/assets
(37,548)
21,205
Called up share capital
100
100
Share premium
59,948
59,948
Capital redemption reserve
284,044
284,044
Profit and loss account
(381,640)
(322,887)
Shareholders' funds
(37,548)
21,205
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2024 and were signed on its behalf by
Mitali Rakhit
Director
Company Registration No. 11699775
Guardara Ltd
Notes to the Accounts
for the year ended 30 November 2023
Guardara Ltd is a private company, limited by shares, registered in England and Wales, registration number 11699775. The registered office is 86-90 Paul Street, London, EC2A 4NE, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
When convertible loan notes are issued, the total proceeds are allocated to the liability component and the equity component, which are separately presented on the Statement of Financial Position.
The liability component is recognised initially at its fair value, determined using a market interest rate for equivalent non-convertible loan notes. It is subsequently carried at amortised cost using the effective interest method until the liability is extinguished on conversion or redemption of the bonds.
The difference between the total proceeds and the liability component is allocated to the conversion option (equity component), which is presented in equity net of deferred tax effect. The carrying amount of the conversion option is excercised, its carrying amount will be transferred to the share capital account. When the conversion amount will be transferred to the share capital account. When the conversion option lapses, its carrying amount will be transferred to retained profits.
Equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that gives a residual interest in the assets of the company after deducting all of its liabilities.
Accordingly, a financial instrument is treated as equity if:
(i) there is no contractual obligation to deliver cash or other financial assets or to exchange financial assets or liabilities on terms that may be unfavourable; and
(ii) the instrument is a non-derivative that contains no contractual obligations to deliver a variable number of shares or is a derivative that will be settled only by the company exchanging a fixed amount of cash or other assets for a fixed number of the company’s own equity instruments.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.
Guardara Ltd
Notes to the Accounts
for the year ended 30 November 2023
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
-
5,543
Other creditors
8,441
8,441
Loans from directors
13,447
13,447
7
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
21,714
21,714
Included within other creditors related to unsecured convertible loan notes issued to investors. No interest accrues on the principal amount invested. The debt is convertible into ordinary shares in Guardara Ltd at the earlier of the next equity financing or the maturity date of the debt.
Guardara Ltd
Notes to the Accounts
for the year ended 30 November 2023
Allotted, called up and fully paid:
10,000,000 Ordinary shares of £0.00001 each
100.00
100.00
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).