Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08552287 M D Rosenberg iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08552287 2022-12-31 08552287 2023-12-31 08552287 2023-01-01 2023-12-31 08552287 frs-core:CurrentFinancialInstruments 2023-12-31 08552287 frs-core:MotorVehicles 2023-12-31 08552287 frs-core:MotorVehicles 2023-01-01 2023-12-31 08552287 frs-core:MotorVehicles 2022-12-31 08552287 frs-core:ShareCapital 2023-12-31 08552287 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08552287 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08552287 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08552287 frs-bus:SmallEntities 2023-01-01 2023-12-31 08552287 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08552287 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08552287 frs-core:AcceleratedTaxDepreciationDeferredTax 2023-12-31 08552287 frs-bus:Director1 2023-01-01 2023-12-31 08552287 frs-countries:EnglandWales 2023-01-01 2023-12-31 08552287 2021-12-31 08552287 2022-12-31 08552287 2022-01-01 2022-12-31 08552287 frs-core:CurrentFinancialInstruments 2022-12-31 08552287 frs-core:ShareCapital 2022-12-31 08552287 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 08552287 frs-core:AcceleratedTaxDepreciationDeferredTax 2022-12-31
Registered number: 08552287
Folk Giant Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 08552287
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 28,225 37,696
28,225 37,696
CURRENT ASSETS
Debtors 5 19,145 35,102
Cash at bank and in hand 681,675 795,787
700,820 830,889
Creditors: Amounts Falling Due Within One Year 6 (77,065 ) (299,214 )
NET CURRENT ASSETS (LIABILITIES) 623,755 531,675
TOTAL ASSETS LESS CURRENT LIABILITIES 651,980 569,371
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (7,056 ) (9,424 )
NET ASSETS 644,924 559,947
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 644,824 559,847
SHAREHOLDERS' FUNDS 644,924 559,947
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
M D Rosenberg
Director
20 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Folk Giant Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 08552287 . The registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9LT.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added/sales taxes. Turnover includes revenue earned from the the rendering of services and from the sale of goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 33%
2.4. Foreign Currencies
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the operating profit.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable, including foreign tax suffered and double taxation relief claimed, and any deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period. 
Deferred tax is recognised on any timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was  1 (2022: 1)
1 1
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 January 2023 57,325
As at 31 December 2023 57,325
Depreciation
As at 1 January 2023 19,629
Provided during the period 9,471
As at 31 December 2023 29,100
Net Book Value
As at 31 December 2023 28,225
As at 1 January 2023 37,696
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5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 2,060 5,193
Prepayments and accrued income 14,643 23,061
Other debtors - 72
VAT 2,442 6,776
19,145 35,102
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 7,294 62,491
Corporation tax 3,846 34,716
Other taxes and social security - 25,921
Accruals and deferred income 36,483 126,020
Director's loan account 29,442 50,066
77,065 299,214
The Director's loan is unsecured, interest-free and payable on demand.
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Accelerated capital allowances 7,056 9,424
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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