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COMPANY REGISTRATION NUMBER: 07901325
Monkey's Cousin Limited
Filleted Unaudited Financial Statements
31 January 2025
Monkey's Cousin Limited
Financial Statements
Year ended 31 January 2025
Contents
Pages
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
Monkey's Cousin Limited
Statement of Financial Position
31 January 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
488,201
1,725
Current assets
Debtors
6
29,422
592,425
Cash at bank and in hand
541,062
452,645
---------
------------
570,484
1,045,070
Creditors: amounts falling due within one year
7
290,471
364,521
---------
------------
Net current assets
280,013
680,549
---------
---------
Total assets less current liabilities
768,214
682,274
Creditors: amounts falling due after more than one year
8
16,512
26,615
---------
---------
Net assets
751,702
655,659
---------
---------
Capital and reserves
Called up share capital
110
110
Profit and loss account
751,592
655,549
---------
---------
Shareholders funds
751,702
655,659
---------
---------
These financial statements have been prepared and delivered 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'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2025 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Monkey's Cousin Limited
Statement of Financial Position (continued)
31 January 2025
These financial statements were approved by the board of directors and authorised for issue on 23 June 2025 , and are signed on behalf of the board by:
Mrs E Ford
Director
Company registration number: 07901325
Monkey's Cousin Limited
Notes to the Financial Statements
Year ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Midway House Herrick Way, Staverton Technology Park, Cheltenham, Gloucestershire, GL51 6TQ.
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 and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Office equipment
-
20% straight line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).
5. Tangible assets
Freehold property
Short leasehold property
Total
£
£
£
Cost
At 1 February 2024
13,306
13,306
Additions
486,907
486,907
---------
--------
---------
At 31 January 2025
486,907
13,306
500,213
---------
--------
---------
Depreciation
At 1 February 2024
11,581
11,581
Charge for the year
431
431
---------
--------
---------
At 31 January 2025
12,012
12,012
---------
--------
---------
Carrying amount
At 31 January 2025
486,907
1,294
488,201
---------
--------
---------
At 31 January 2024
1,725
1,725
---------
--------
---------
Included within the above is investment property as follows:
£
At 1 February 2024
Additions
468,100
---------
At 31 January 2025
468,100
---------
Investment property was valued at the balance sheet date by the director on an open market basis. The director determined that the fair value was not materially different to historic cost.
6. Debtors
2025
2024
£
£
Trade debtors
266,485
Other debtors
29,422
325,940
--------
---------
29,422
592,425
--------
---------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
118,543
263,337
Corporation tax
152,994
86,794
Social security and other taxes
829
Other creditors
18,105
14,390
---------
---------
290,471
364,521
---------
---------
8. Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
16,512
26,615
--------
--------
9. Director's advances, credits and guarantees
At the balance sheet date the company owed the director £3,948 (2024:(£278,618) ). No interest has been charged on this loan.