Registered number
07982760
Voodoo Park Limited
Filleted Accounts
31 March 2024
Voodoo Park Limited
Registered number: 07982760
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 220,920 265,524
Tangible assets 4 2,157 7,010
223,077 272,534
Current assets
Stocks 48,691 67,173
Debtors 5 403,121 362,268
Cash at bank and in hand - 70,044
451,812 499,485
Creditors: amounts falling due within one year 6 (523,375) (634,326)
Net current (liabilities) (71,563) (134,841)
Total assets less current liabilities 151,514 137,693
Creditors: amounts falling due after more than one year 7 (33,750) (105,194)
Net assets 117,764 32,499
Capital and reserves
Called up share capital 1 1
Profit and loss account 117,763 32,498
Shareholder's funds 117,764 32,499
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David S Glennie
Director
Approved by the board on 10 September 2024
Voodoo Park Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 50% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 1
3 Intangible fixed assets £
Product development:
Cost
At 1 April 2023 445,995
At 31 March 2024 445,995
Amortisation
At 1 April 2023 180,471
Provided during the year 44,604
At 31 March 2024 225,075
Net book value
At 31 March 2024 220,920
At 31 March 2023 265,524
Product development is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 27,855
At 31 March 2024 27,855
Depreciation
At 1 April 2023 20,845
Charge for the year 4,853
At 31 March 2024 25,698
Net book value
At 31 March 2024 2,157
At 31 March 2023 7,010
5 Debtors 2024 2023
£ £
Trade debtors 189,343 208,564
Other debtors 213,778 153,704
403,121 362,268
6 Creditors: amounts falling due within one year 2024 2023
£ £
Loans 106,180 93,667
Trade creditors 70,958 39,450
Taxation and social security costs 162,754 198,557
Other creditors 183,483 302,652
523,375 634,326
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 33,750 105,194
8 Controlling party
The company is controlled by the director, Mr David S Glennie who also owns all of the issued shares in the company.
9 Other information
Voodoo Park Limited is a private company limited by shares and incorporated in England. Its registered office is:
3 Hanbury Drive
Leytonstone
London
England
E11 1GA
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