Thisisallgood Limited Accounts

THISISALLGOOD LIMITED - Company Information






Thisisallgood Limited

	Company No. 05897279
		Information for Filing with The Registrar
		31 August 2020

The Directors present their report and the accounts for the year ended 31 August 2020.

Principal activities
The principal activity of the company during the year under review was marketing, design and brand agency.




Directors

The Directors who served at any time during the year were as follows:

P.R. Dodd
S.M. Dodd




































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P.R. Dodd
Director
14 May 2021

at	31 August 2020
Company No.		05897279	Notes	2020	2019
				£	£
Fixed assets
	Intangible assets		4	-	-
	Tangible assets		5	9,710	11,262


				9,710	11,262
Current assets

	Debtors		6	8,951	7,916

	Cash at bank and in hand			21,127	5,575
				30,078	13,491
Creditors: Amount falling due within one year			7	(17,842)	(20,298)
Net current assets/(liabilities)				12,236	(6,807)
Total assets less current liabilities				21,946	4,455
Creditors: Amounts falling due after more than one year			8	(20,000)	(11,667)
Provisions for liabilities
	Deferred taxation		9	(1,845)	(2,140)

Net assets/(liabilities)				101	(9,352)

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		10	1	(9,452)

Total equity				101	(9,352)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 August 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 14 May 2021
And signed on its behalf by:
P.R. Dodd
Director
14 May 2021

for the year ended 31 August 2020

General information

Its registered number is: 05897279

Its registered office is:

Morwick Hall

Mortec Park

York Road

West Yorkshire

LS15 4TA

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Furniture, fittings and equipment

15% Reducing balance

Taxation

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

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

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Foreign currencies

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

Transactions in currencies, other than the functional currency of the Company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. all differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Defined contribution pensions

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payments obligations.

The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2020	2019
			Number	Number
		The average monthly number of employees (including directors) during the year was:	3	5

4	Intangible fixed assets
			Goodwill	Total
			£	£
		Cost
		At 1 September 2019	22,000	22,000


		At 31 August 2020	22,000	22,000
		Amortisation and impairment
		At 1 September 2019	22,000	22,000



		At 31 August 2020	22,000	22,000
		Net book values
		At 31 August 2020	-	-
		At 31 August 2019	-	-

		Goodwill fully amortised over its estimated useful life of 10 years.

5	Tangible fixed assets
			Fixtures, fittings and equipment	Total
			£	£
		Cost or revaluation
		At 1 September 2019	21,931	21,931
		Additions	138	138



		At 31 August 2020	22,069	22,069
		Depreciation
		At 1 September 2019	10,669	10,669
		Charge for the year	1,690	1,690



		At 31 August 2020	12,359	12,359
		Net book values
		At 31 August 2020	9,710	9,710
		At 31 August 2019	11,262	11,262

6	Debtors
			2020	2019
			£	£
		Trade debtors	6,911	493

		Corporation tax recoverable	-	155


		Loans to directors	363	5,457

		Prepayments and accrued income	1,677	1,811
			8,951	7,916

7	Creditors:
		amounts falling due within one year
			2020	2019
			£	£

		Bank loans and overdrafts	-	5,289


		Trade creditors	4,756	10,353

		Corporation tax	6,176	-
		Other taxes and social security	5,817	2,826

		Other creditors	144	150
		Accruals and deferred income	949	1,680
			17,842	20,298

8	Creditors:
		amounts falling due after more than one year
			2020	2019
			£	£

		Bank loans and overdrafts	20,000	-
		Other loans	-	11,667





			20,000	11,667

9	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 September 2019	2,140	2,140
		Charge to the profit and loss account for the period	(295)	(295)

		At 31 August 2020	1,845	1,845



			2020	2019
			£	£
		Accelerated capital allowances	1,845	2,140



			1,845	2,140

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.

11	Commitments

		Capital commitments	2020	2019
			£	£


		Other financial commitments
			2020	2019
			£	£




		Pension commitments
		The People's Pension

			2020	2019
			£	£
		Unpaid contributions due to the fund are included in other creditors and amounted to:	144	150