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Company registration number: 09986213
Cuels Limited
Unaudited filleted financial statements
28 February 2022
Cuels Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Cuels Limited
Directors and other information
Director Bjorn Schroder
Company number 09986213
Registered office Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Accountants Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
Cuels Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Cuels Limited
Year ended 28 February 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cuels Limited for the year ended 28 February 2022 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Cuels Limited, as a body, in accordance with the terms of our engagement letter dated 4 October 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Cuels Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cuels Limited and its director as a body for our work or for this report.
It is your duty to ensure that Cuels Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cuels Limited. You consider that Cuels Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Cuels Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
Hertfordshire
AL5 4EE
5 September 2022
Cuels Limited
Statement of financial position
28 February 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 1,134 -
_______ _______
1,134 -
Current assets
Debtors 6 819 457
Cash at bank and in hand 48,062 53,290
_______ _______
48,881 53,747
Creditors: amounts falling due
within one year 7 ( 3,365) ( 3,112)
_______ _______
Net current assets 45,516 50,635
_______ _______
Total assets less current liabilities 46,650 50,635
_______ _______
Net assets 46,650 50,635
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 46,649 50,634
_______ _______
Shareholders funds 46,650 50,635
_______ _______
For the year ending 28 February 2022 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 05 September 2022 , and are signed on behalf of the board by:
Bjorn Schroder
Director
Company registration number: 09986213
Cuels Limited
Notes to the financial statements
Year ended 28 February 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Vaughan Chambers, Vaughan Road, Harpenden, Hertfordshire, AL5 4EE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Computer equipment - 33.3 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2021: 1 ).
5. Tangible assets
Computer equipment Total
£ £
Cost
At 1 March 2021 - -
Additions 1,237 1,237
_______ _______
At 28 February 2022 1,237 1,237
_______ _______
Depreciation
At 1 March 2021 - -
Charge for the year 103 103
_______ _______
At 28 February 2022 103 103
_______ _______
Carrying amount
At 28 February 2022 1,134 1,134
_______ _______
At 28 February 2021 - -
_______ _______
6. Debtors
2022 2021
£ £
Other debtors 819 457
_______ _______
7. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 253 -
Other creditors 3,112 3,112
_______ _______
3,365 3,112
_______ _______
8. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Bjorn Schroder ( 2,188) - ( 2,188)
_______ _______ _______
2021
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Bjorn Schroder ( 422) ( 1,766) ( 2,188)
_______ _______ _______