Iggy And Burt Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10646763 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020

FOR

IGGY AND BURT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Child

Mrs C Child

REGISTERED OFFICE:

409-411 Croydon Road

Beckenham

Kent

BR3 3PP

REGISTERED NUMBER:

10646763 (England and Wales)

ACCOUNTANTS:

Edwards Chartered Accountants

409-411 Croydon Road

Beckenham

Kent

BR3 3PP

FIXED ASSETS

Tangible assets

4

1,299

1,647

CURRENT ASSETS

Stocks

8,640

10,563

Debtors

5

3,926

9,461

Cash at bank

2,148

2,663

14,714

22,687

CREDITORS

Amounts falling due within one year

6

22,964

12,156

NET CURRENT (LIABILITIES)/ASSETS

(8,250

)

10,531

TOTAL ASSETS LESS CURRENT LIABILITIES

(6,951

)

12,178

PROVISIONS FOR LIABILITIES

-

279

NET (LIABILITIES)/ASSETS

(6,951

)

11,899

CAPITAL AND RESERVES

Called up share capital

120

120

Retained earnings

(7,071

)

11,779

(6,951

)

11,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2020 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 28 May 2021 and were signed on its behalf by:

Mrs C Child - Director

1.	STATUTORY INFORMATION

Iggy And Burt 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.

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.

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 fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 September 2019

and 31 August 2020

881

1,273

2,154

DEPRECIATION

At 1 September 2019

268

239

507

Charge for year

154

194

348

At 31 August 2020

422

433

855

NET BOOK VALUE

At 31 August 2020

459

840

1,299

At 31 August 2019

613

1,034

1,647

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

-

4,572

Other debtors

3,926

4,889

3,926

9,461

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

6,534

11,208

Taxation and social security

636

-

Other creditors

15,794

948

22,964

12,156

7.	TRANSACTIONS WITH DIRECTORS

During the year, the company voted dividends of £3,000 to Mrs Child, a director.

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs C Child.