Company registration number 09341183 (England and Wales)
HELLO RAT LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
HELLO RAT LIMITED
COMPANY INFORMATION
Directors
Miss Rachel Keen
Mr Paul Keen
Company number
09341183
Registered office
3rd Floor
The Bloomsbury Building
10 Bloomsbury Way
Holborn
WC1A 2SL
Accountants
CC Young & Co Limited
3rd Floor
The Bloomsbury Building
10 Bloomsbury Way
Holborn
WC1A 2SL
HELLO RAT LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
HELLO RAT LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
3
73,093
157,184
Cash at bank and in hand
730,852
22,374
803,945
179,558
Creditors: amounts falling due within one year
4
(498,751)
(77,608)
Net current assets
305,194
101,950
Capital and reserves
Called up share capital
10
10
Profit and loss reserves
305,184
101,940
Total equity
305,194
101,950

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 17 September 2024 and are signed on its behalf by:
Miss Rachel Keen
Director
Company Registration No. 09341183
HELLO RAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Hello Rat Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3rd Floor, The Bloomsbury Building, 10 Bloomsbury Way, Holborn, WC1A 2SL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Income from contracts for the provision of live performances is recognised based on performance date.

 

Branding and merchandising income is recognised on a receivable basis to the extent that it can be quantified from amounts received from or declared by licensees and other parties.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Financial instruments

The company only has financial instruments which are classified as basic financial instruments.

 

Short-term debtors and creditors are measured at the settlement value. Any losses from impairment are recognised in profit and loss.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

HELLO RAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
15,980
Amounts owed by group undertakings
-
0
141,204
Other debtors
73,093
-
0
73,093
157,184
HELLO RAT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2
2
Trade creditors
380,366
1,071
Corporation tax
69,073
8,089
Other taxation and social security
-
0
1,620
Other creditors
49,310
66,826
498,751
77,608
5
Related party transactions
Transactions with related parties

Hello Rat Limited is a designated member of Raisins Touring LLP.

During the period, the company paid expenses on behalf of Raisins Touring LLP amounting to £98,065 and was repaid £239,269. At the Balance sheet date Raisins Touring LLP owed £Nil (2023 - £141,204) to the company. Hello Rat Limited also received invoices from Raisins Touring LLP in the period amounting to £381,232 and repaid £866. These transactions were incurred on an arm's length basis. At the balance sheet date, the aged creditor balance in Hello Rat Limited owed to Raisins Touring LLP was £380,366.

 

S1bling Limited is a company under which Paul Keen, a director of Hello Rat Limited, has control via directorship and shareholding.

During the period, the company received invoices from S1bling Limited amounting to £66,870 and paid £65,291. These transactions were incurred at an arm's length basis. At the balance sheet date, the amount owed to S1bling Limited was £Nil (2023 - £1,579 owed by).

6
Directors' transactions

During the period, R Keen, a director of the company, was repaid £50,000 by the company. A dividend was declared at the year end amounting to £1,000. At the Balance sheet the company owed £1,000 (2023 - £50,000) to the director.

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