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COMPANY REGISTRATION NUMBER: 07021714
SHAKETASTIC FRANCHISING LTD
Unaudited Financial Statements
31 March 2024
SHAKETASTIC FRANCHISING LTD
Financial Statements
Year ended 31 March 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
4
SHAKETASTIC FRANCHISING LTD
Director's Report
Year ended 31 March 2024
The director presents his report and the unaudited financial statements of the company for the year ended 31 March 2024 .
Director
The director who served the company during the year was as follows:
J S Kettle
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 25 September 2024 and signed on behalf of the board by:
J S Kettle
Director
Registered office:
c/o The Accounting Centre Ltd
First Floor, 736 High Road
North Finchley
London
N12 9QD
SHAKETASTIC FRANCHISING LTD
Statement of Income and Retained Earnings
Year ended 31 March 2024
2024
2023
Note
£
£
Turnover
21,015
10,422
--------
--------
Gross profit
21,015
10,422
Administrative expenses
22,403
35,672
--------
--------
Operating loss
( 1,388)
( 25,250)
Other interest receivable and similar income
4
865
48
--------
--------
Loss before taxation
( 523)
( 25,202)
Tax on loss
( 4,788)
----
--------
Loss for the financial year and total comprehensive income
( 523)
( 20,414)
----
--------
Retained earnings at the start of the year
16,091
36,505
--------
--------
Retained earnings at the end of the year
15,568
16,091
--------
--------
All the activities of the company are from continuing operations.
SHAKETASTIC FRANCHISING LTD
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Current assets
Debtors
5
32,591
23,355
Cash at bank and in hand
28,343
36,254
--------
--------
60,934
59,609
Creditors: amounts falling due within one year
6
45,364
43,516
--------
--------
Net current assets
15,570
16,093
--------
--------
Total assets less current liabilities
15,570
16,093
--------
--------
Net assets
15,570
16,093
--------
--------
Capital and reserves
Called up share capital
2
2
Profit and loss account
7
15,568
16,091
--------
--------
Shareholders funds
15,570
16,093
--------
--------
These financial statements have been prepared 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'.
For the year ending 31 March 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 his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
J S Kettle
Director
Company registration number: 07021714
SHAKETASTIC FRANCHISING LTD
Notes to the Financial Statements
Year ended 31 March 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 c/o The Accounting Centre Ltd, First Floor, 736 High Road, North Finchley, London, N12 9QD.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Other interest receivable and similar income
2024
2023
£
£
Interest on cash and cash equivalents
865
48
----
----
5. Debtors
2024
2023
£
£
Trade debtors
9,117
Amounts owed by group undertakings and undertakings in which the company has a participating interest
32,591
9,450
Other debtors
4,788
--------
--------
32,591
23,355
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,807
58
Amounts owed to group undertakings and undertakings in which the company has a participating interest
15,750
15,750
Social security and other taxes
957
1,007
Other creditors
26,850
26,701
--------
--------
45,364
43,516
--------
--------
7. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses.
8. Controlling party
The immediate and ultimate parent is Shaketastic Holdings Limited, a company registered in England.