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REGISTERED NUMBER: 09165801 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Cheerfy Ltd

Cheerfy Ltd (Registered number: 09165801)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Cheerfy Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: C Gomez Vendrell
A Maseda Fernandez





REGISTERED OFFICE: 1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY





REGISTERED NUMBER: 09165801 (England and Wales)





ACCOUNTANTS: Butt Miller
Chartered Accountants
1 Minster Court
Tuscam Way
Camberley
Surrey
GU15 3YY

Cheerfy Ltd (Registered number: 09165801)

Statement of Financial Position
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 68 141
Tangible assets 5 9,333 5,860
9,401 6,001

CURRENT ASSETS
Debtors 6 102,904 125,009
Cash at bank 928,079 285,289
1,030,983 410,298
CREDITORS
Amounts falling due within one year 7 (195,264 ) (197,316 )
NET CURRENT ASSETS 835,719 212,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

845,120

218,983

CREDITORS
Amounts falling due after more than one
year

8

(15,633

)

(29,033

)
NET ASSETS 829,487 189,950

CAPITAL AND RESERVES
Called up share capital 9 2 2
Share premium 3,205,200 2,222,829
Retained earnings (2,375,715 ) (2,032,881 )
SHAREHOLDERS' FUNDS 829,487 189,950

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cheerfy Ltd (Registered number: 09165801)

Statement of Financial Position - continued
30 September 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:




A Maseda Fernandez - Director



C Gomez Vendrell - Director


Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Cheerfy Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The previous accounting period was shorter than one year. On this basis, the comparatives figures are not directly comparable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the value of the services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the statement of financial position date turnover represents the value of the services provided to date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and as part of creditors due within one year.

Intangible fixed assets
Intangible assets are amortised over their useful lives of 10 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33.33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


2. ACCOUNTING POLICIES - continued

Going concern
The directors have assessed the current position of the company and its future anticipated results. At the time of approving these financial statements, the directors consider that the company has adequate resources to continue in operational existence for the foreseeable future and as a result have adopted a going concern basis in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 October 2023
and 30 September 2024 738
AMORTISATION
At 1 October 2023 597
Amortisation for year 73
At 30 September 2024 670
NET BOOK VALUE
At 30 September 2024 68
At 30 September 2023 141

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 October 2023 13,027
Additions 6,807
At 30 September 2024 19,834
DEPRECIATION
At 1 October 2023 7,167
Charge for year 3,334
At 30 September 2024 10,501
NET BOOK VALUE
At 30 September 2024 9,333
At 30 September 2023 5,860

Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 92,942 116,053
VAT 6,400 5,420
Prepayments 3,562 3,536
102,904 125,009

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 13,400 7,817
Trade creditors 7,773 11,515
Social security and other taxes 22,199 18,481
Other creditors 56,371 42,546
Directors' loan accounts 7,794 9,625
Accruals and deferred income 87,727 107,332
195,264 197,316

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 13,400 13,400
Bank loans - 2-5 years 2,233 15,633
15,633 29,033

9. CALLED UP SHARE CAPITAL

679,006 £0.0000001 Ordinary Shares were issued and fully paid on 11 March 2024.

1,236,264 £0.0000001 Ordinary Shares were issued and fully paid on 13 September 2024.

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 September 2024 and the period ended 30 September 2023:

2024 2023
£    £   
A Maseda Fernandez
Balance outstanding at start of year (5,867 ) (7,713 )
Amounts advanced 4,060 26,344
Amounts repaid (1,919 ) (24,498 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (3,726 ) (5,867 )

Cheerfy Ltd (Registered number: 09165801)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

C Gomez Vendrell
Balance outstanding at start of year (3,758 ) (3,579 )
Amounts advanced - 68
Amounts repaid (312 ) (247 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,070 ) (3,758 )

The above loans are unsecured, interest free and repayable on demand.