1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 13,306 11,006 575 11,581 1,725 2,300 xbrli:pure xbrli:shares iso4217:GBP 07901325 2023-02-01 2024-01-31 07901325 2024-01-31 07901325 2023-01-31 07901325 2022-02-01 2023-01-31 07901325 2023-01-31 07901325 2022-01-31 07901325 core:LandBuildings core:ShortLeaseholdAssets 2023-02-01 2024-01-31 07901325 bus:Director1 2023-02-01 2024-01-31 07901325 core:LandBuildings core:ShortLeaseholdAssets 2023-01-31 07901325 core:LandBuildings core:ShortLeaseholdAssets 2024-01-31 07901325 core:AfterOneYear 2024-01-31 07901325 core:AfterOneYear 2023-01-31 07901325 core:WithinOneYear 2024-01-31 07901325 core:WithinOneYear 2023-01-31 07901325 core:ShareCapital 2024-01-31 07901325 core:ShareCapital 2023-01-31 07901325 core:RetainedEarningsAccumulatedLosses 2024-01-31 07901325 core:RetainedEarningsAccumulatedLosses 2023-01-31 07901325 core:LandBuildings core:ShortLeaseholdAssets 2023-01-31 07901325 bus:SmallEntities 2023-02-01 2024-01-31 07901325 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07901325 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 07901325 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07901325 bus:FullAccounts 2023-02-01 2024-01-31
COMPANY REGISTRATION NUMBER: 07901325
Monkey's Cousin Limited
Filleted Unaudited Financial Statements
31 January 2024
Monkey's Cousin Limited
Financial Statements
Year ended 31 January 2024
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
Monkey's Cousin Limited
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
1,725
2,300
Current assets
Debtors
6
592,425
420,819
Cash at bank and in hand
452,645
411,311
------------
---------
1,045,070
832,130
Creditors: amounts falling due within one year
7
364,521
411,636
------------
---------
Net current assets
680,549
420,494
---------
---------
Total assets less current liabilities
682,274
422,794
Creditors: amounts falling due after more than one year
8
26,615
36,249
---------
---------
Net assets
655,659
386,545
---------
---------
Capital and reserves
Called up share capital
110
110
Profit and loss account
655,549
386,435
---------
---------
Shareholders funds
655,659
386,545
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Monkey's Cousin Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 11 October 2024 , and are signed on behalf of the board by:
Mrs E Ford
Director
Company registration number: 07901325
Monkey's Cousin Limited
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Weavers Cottage, Springfield Lane, Broadway, Worcs, WR12 7BT.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
20% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Construction contracts
Where the outcome of construction contracts can be reliably estimated, contract revenue and contract costs are recognised by reference to the stage of completion of the contract activity as at the period end. Where the outcome of construction contracts cannot be estimated reliably, revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable, and contract costs are recognised as an expense in the period in which they are incurred. The entity uses the percentage of completion method to determine the amounts to be recognised in the period. The stage of completion is measured by reference to the contract costs incurred up to the end of the reporting period as a percentage of total estimated costs for each contract. Costs incurred for work performed to date do not include costs relating to future activity, such as for materials or prepayments.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Short leasehold property
£
Cost
At 1 February 2023 and 31 January 2024
13,306
--------
Depreciation
At 1 February 2023
11,006
Charge for the year
575
--------
At 31 January 2024
11,581
--------
Carrying amount
At 31 January 2024
1,725
--------
At 31 January 2023
2,300
--------
6. Debtors
2024
2023
£
£
Trade debtors
266,485
18,288
Other debtors
325,940
402,531
---------
---------
592,425
420,819
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
263,337
22,956
Corporation tax
86,794
101,087
Social security and other taxes
709
Other creditors
14,390
286,884
---------
---------
364,521
411,636
---------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
26,615
36,249
--------
--------
9. Director's advances, credits and guarantees
At the balance sheet date the company owed the director £319 (2022 £9,833). No interest has been charged on this loan.
10. Related party transactions
The company was controlled by Mrs E Ford , the director, during the current and preceeding year through majority ownership of the issued share capital. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standards for Small Entities.