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REGISTERED NUMBER: 13070929 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHARLES AND IVY LIMITED

CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Balance Sheet 1

Notes to the Financial Statements 3


CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

BALANCE SHEET
31 DECEMBER 2021

Notes £    £   
FIXED ASSETS
Intangible assets 4 99,307
Tangible assets 5 740,232
839,539

CURRENT ASSETS
Stocks 1,324,778
Debtors 6 514,907
Cash at bank 110,165
1,949,850
CREDITORS
Amounts falling due within one year 7 2,603,538
NET CURRENT LIABILITIES (653,688 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

185,851

CREDITORS
Amounts falling due after more than one year 8 217,967
NET LIABILITIES (32,116 )

CAPITAL AND RESERVES
Called up share capital 1,000
Share premium 999,000
Retained earnings (1,032,116 )
(32,116 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

BALANCE SHEET - continued
31 DECEMBER 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 September 2022 and were signed by:





S D P Berry - Director


CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Charles and Ivy Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13070929

Registered office: 2 Opus Close
Carrington
Manchester
M31 4RQ

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.

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.

Computer software is being amortised evenly over its 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - over the life of the lease
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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 Profit and Loss Account, 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.


CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful life. Those held under finance leases are depreciated over their estimated useful lives or lease term, which ever is shorter.

Interest element of these obligations is charged to profit and loss over the relevant period. The capital element of the future payment is treated as a liability.

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.

Going concern
The accounts have been prepared on the going concern basis despite liabilities exceeding assets by £32,116 at the balance sheet date. The accounts have been prepared on this basis on the assumption that the directors' will continue to provide financial support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 .

CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
Additions 120,188
At 31 December 2021 120,188
AMORTISATION
Charge for year 20,881
At 31 December 2021 20,881
NET BOOK VALUE
At 31 December 2021 99,307

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
Additions 17,219 404,402 16,785
At 31 December 2021 17,219 404,402 16,785
DEPRECIATION
Charge for year 1,435 79,070 3,255
At 31 December 2021 1,435 79,070 3,255
NET BOOK VALUE
At 31 December 2021 15,784 325,332 13,530

CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
Additions 436,138 33,109 907,653
At 31 December 2021 436,138 33,109 907,653
DEPRECIATION
Charge for year 74,893 8,768 167,421
At 31 December 2021 74,893 8,768 167,421
NET BOOK VALUE
At 31 December 2021 361,245 24,341 740,232

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 421,228
At 31 December 2021 421,228
DEPRECIATION
Charge for year 72,452
At 31 December 2021 72,452
NET BOOK VALUE
At 31 December 2021 348,776

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 514,907

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Hire purchase contracts (see note 9) 90,184
Trade creditors 274,743
Taxation and social security 133,083
Other creditors 2,105,528
2,603,538

CHARLES AND IVY LIMITED (REGISTERED NUMBER: 13070929)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
£   
Hire purchase contracts (see note 9) 217,967

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 90,184
Between one and five years 217,967
308,151

Non-cancellable operating leases
£   
Within one year 153,428
Between one and five years 473,071
626,499

10. SECURED DEBTS

The following secured debts are included within creditors:

£   
Hire purchase contracts 308,151

11. RELATED PARTY DISCLOSURES

At the balance sheet date, £2,001,812 was owing to the director and included in other creditors. No interest has been charged in respect of this loan, which is repayable on demand.