REGISTERED NUMBER: 06452322 (England and Wales)

Scary Beasties Limited

Audited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

K S Davidson

P D Hoskins

Secretary:

K S Davidson

Registered office:

Office 127

22 Notting Hill Gate

London

W11 3JE

Registered number:

06452322 (England and Wales)

Senior statutory auditor:

Nicola Pearson

Auditors:

Cooper Parry Group Limited

Statutory Auditor

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

7,559

10,182

7,559

10,182

Current assets

Debtors

6

215,532

86,114

Cash at bank and in hand

368,868

33,899

584,400

120,013

Creditors

Amounts falling due within one year

7

345,268

55,994

Net current assets

239,132

64,019

Total assets less current liabilities

246,691

74,201

Creditors

Amounts falling due after more than one year

8

4,167

14,167

Net assets

242,524

60,034

Capital and reserves

Called up share capital

9

850,100

850,100

Retained earnings

(607,576

)

(790,066

)

Shareholders' funds

242,524

60,034

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 29 September 2025 and were signed on its behalf by:

K S Davidson - Director

1.	Statutory information

Scary Beasties Limited 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.

Going concern

The financial statements have been prepared on a going concern basis.

The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments, and the current resources available, the Directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors have reviewed the judgments and estimates and none are considered sufficiently material to require separate disclosure.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of three years.

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 fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Financial instruments

The company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

(i) Financial assets

Basic financial assets, including other debtors and amounts due from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated future cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the Income Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors, accruals and loans from related parties, are initially recognised at transaction price, unless that arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Research and development

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Software Development Costs pertaining to software applications are capitalised and amortised over three years from the time the application becomes available for sale.

The company is a beneficiary of Research & Development (R&D) tax relief from the UK Government in the form of reductions in its annual tax liability, as well as repayable tax credits. Current tax assets or reductions in current tax liabilities for R&D claims are only recognised when the amount can be reliably determined and the probability of HM Revenue & Customs accepting the claim is considered high.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	Employees and directors

The average number of employees during the year was 5 (2023 - 5 ) .

4.	Intangible fixed assets

Development

costs

£

Cost

At 1 January 2024

and 31 December 2024

409,192

Amortisation

At 1 January 2024

and 31 December 2024

409,192

Net book value

At 31 December 2024

-

At 31 December 2023

-

5.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 January 2024

55,262

17,656

72,918

Additions

-

2,314

2,314

At 31 December 2024

55,262

19,970

75,232

Depreciation

At 1 January 2024

47,852

14,884

62,736

Charge for year

1,482

3,455

4,937

At 31 December 2024

49,334

18,339

67,673

Net book value

At 31 December 2024

5,928

1,631

7,559

At 31 December 2023

7,410

2,772

10,182

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

-

23,594

Other debtors

215,532

62,520

215,532

86,114

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

10,965

2,134

Taxation and social security

10,956

29,317

Other creditors

313,347

14,543

345,268

55,994

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

4,167

14,167

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

50

Ordinary A

£1

50

50

50

Ordinary B

£1

50

50

850,000

Ordinary C

£1

850,000

850,000

850,100

850,100

10.	Disclosure under Section 444(5B) of the Companies Act 2006

The Auditors' Report was unqualified.

Nicola Pearson (Senior Statutory Auditor)

for and on behalf of Cooper Parry Group Limited

11.	Related party disclosures

As at the year end date the company was owed £70,512 from the director (2023: £134 was owed to the director).