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Registered number: 10566275
Koala Digital Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Rhino Accounting
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 10566275
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,086 1,739
1,086 1,739
CURRENT ASSETS
Debtors 5 17,904 15,881
Cash at bank and in hand 1 1
17,905 15,882
Creditors: Amounts Falling Due Within One Year 6 (69,953 ) (73,407 )
NET CURRENT ASSETS (LIABILITIES) (52,048 ) (57,525 )
TOTAL ASSETS LESS CURRENT LIABILITIES (50,962 ) (55,786 )
Creditors: Amounts Falling Due After More Than One Year 7 (31,113 ) (8,303 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,572 ) -
NET LIABILITIES (90,647 ) (64,089 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account (90,649 ) (64,091 )
SHAREHOLDERS' FUNDS (90,647) (64,089)
Page 1
Page 2
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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her 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
Ms Carla Beard
Director
10/10/2024
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
Koala Digital Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10566275 . The registered office is Eastbridge House, East Street, Colchester, CO1 2TX.
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 taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Fixtures & Fittings Straight Line
Computer Equipment Straight Line
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2023: 5)
7 5
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 February 2023 2,000 1,131 3,131
As at 31 January 2024 2,000 1,131 3,131
Depreciation
As at 1 February 2023 697 695 1,392
Provided during the period 393 260 653
As at 31 January 2024 1,090 955 2,045
Net Book Value
As at 31 January 2024 910 176 1,086
As at 1 February 2023 1,303 436 1,739
Page 3
Page 4
5. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 16,875 15,881
Prepayments and accrued income 1,029 -
17,904 15,881
6. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 1,224 2
Bank loans and overdrafts 9,962 11,270
Corporation tax - 9,115
VAT 41,631 34,828
Accruals and deferred income 907 -
Director's loan account 16,229 18,192
69,953 73,407
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
as restated
£ £
Bank loans 6,790 8,303
Other loans 24,323 -
31,113 8,303
8. Share Capital
2024 2023
as restated
£ £
Allotted, Called up and fully paid 2 2
Page 4