Registered number
10394045
Gutsy Animations UK Ltd
Unaudited Filleted Accounts
31 December 2023
Gutsy Animations UK Ltd
Registered number: 10394045
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 37,627 71,669
Current assets
Debtors 4 729,619 1,383,281
Cash at bank and in hand 165,607 731,123
895,226 2,114,404
Creditors: amounts falling due within one year 5 (90,750) (873,506)
Net current assets 804,476 1,240,898
Total assets less current liabilities 842,103 1,312,567
Provisions for liabilities (2,194) (4,737)
Net assets 839,909 1,307,830
Capital and reserves
Called up share capital 81 81
Profit and loss account 839,828 1,307,749
Shareholder's funds 839,909 1,307,830
The directors are 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 directors acknowledge their 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.
Marika Makaroff
Director
Approved by the board on 18 September 2024
Gutsy Animations UK Ltd
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Statement of compliance
Gutsy Animations UK Ltd is a private company limited by shares, incorporated in England and Wales. The address of the principal place of business, is its registered office which is disclosed on the informaon page.
Going concern
The directors have assessed the company's ability to continue as a going concern and have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In doing this, they have considered the level of reserves held, the results for the period, expectaOons of future trading as a result of trading relaonships with key customers. On the basis of this information the directors are satisfied that the company will continue as a going concern and so the financial statements have been prepared on this basis.
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.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 13 13
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 January 2023 172,979
At 31 December 2023 172,979
Depreciation
At 1 January 2023 101,310
Charge for the year 34,042
At 31 December 2023 135,352
Net book value
At 31 December 2023 37,627
At 31 December 2022 71,669
4 Debtors 2023 2022
£ £
Trade debtors - 360,000
Amounts owed by group undertakings and undertakings in which the company has a participating interest 76,756 -
Other debtors 652,863 1,023,281
729,619 1,383,281
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,570 22,561
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 744,761
Taxation and social security costs 43,760 65,631
Other creditors 44,420 40,553
90,750 873,506
6 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 69,063 132,813
7 Other information
Gutsy Animations UK Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Grosvenor House
149 Whiteladies Road
Bristol
BS8 2RA
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