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REGISTERED NUMBER: SC504866 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

FROG@INKWELL LIMITED

FROG@INKWELL LIMITED (REGISTERED NUMBER: SC504866)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FROG@INKWELL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: Xenia Foertsch
Olga Foertsch



SECRETARY: Xenia Foertsch



REGISTERED OFFICE: 24 Beresford Terrace
Ayr
KA7 2EG



REGISTERED NUMBER: SC504866 (Scotland)



ACCOUNTANTS: Stewart Gilmour & Co.
Chartered Accountants
3rd Floor, St George's Buildings
5 St Vincent Place
Glasgow
G1 2DH



BANKERS: Bank of Scotland
206 St John's Road
Corstorphine
Edinburgh
EH12 8SH

FROG@INKWELL LIMITED (REGISTERED NUMBER: SC504866)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,604 10,235

CURRENT ASSETS
Cash at bank 17,098 24,960

CREDITORS
Amounts falling due within one year 5 62,258 61,188
NET CURRENT LIABILITIES (45,160 ) (36,228 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(36,556

)

(25,993

)

PROVISIONS FOR LIABILITIES 1,635 1,885
NET LIABILITIES (38,191 ) (27,878 )

CAPITAL AND RESERVES
Called up share capital 6 41 41
Retained earnings (38,232 ) (27,919 )
SHAREHOLDERS' FUNDS (38,191 ) (27,878 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

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 15 May 2025 and were signed on its behalf by:





Olga Foertsch - Director


FROG@INKWELL LIMITED (REGISTERED NUMBER: SC504866)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Frog@Inkwell Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operational existence for the foreseeable future. At 31 May 2024 the company's current liabilities, including £60,666 owed to the directors, exceeded its current assets by £45,160. The company is thus dependent on the continuing support of its directors and other creditors. The directors are confident of this continuing support and of the company's long-term trading prospects and on this basis consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result from the withdrawal of this financial support.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and equipment - 20% 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

FROG@INKWELL LIMITED (REGISTERED NUMBER: SC504866)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023 18,562
Additions 1,510
At 31 May 2024 20,072
DEPRECIATION
At 1 June 2023 8,327
Charge for year 3,141
At 31 May 2024 11,468
NET BOOK VALUE
At 31 May 2024 8,604
At 31 May 2023 10,235

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 62,258 61,188

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary 'A' £1 10 10
10 Ordinary 'B' £1 10 10
21 Ordinary 'C' £1 21 21
41 41

7. ULTIMATE CONTROLLING PARTY

The company is under the immediate and ultimate control of the directors who hold 75.6% of the issued share capital.