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Registration number: 12097293

C.Accounts UK Ltd

Financial Statements

for the Year Ended 31 December 2021

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

C.Accounts UK Ltd

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 6

 

C.Accounts UK Ltd

Company Information

Directors

L van Mol

P Grout

B D Dove-Seymour

A Hollocks

Registered office

130 Shaftesbury Avenue
London
W1D 5AR

Auditor

Brebners
Chartered Accountants & Statutory Auditor
130 Shaftesbury Avenue
London
W1D 5AR

 

C.Accounts UK Ltd

Statement of Financial Position as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

5

9,097

9,829

Current assets

 

Debtors

6

5,492

6,378

Cash at bank and in hand

 

435,742

418,261

 

441,234

424,639

Creditors: Amounts falling due within one year

7

(60,532)

(101,141)

Net current assets

 

380,702

323,498

Net assets

 

389,799

333,327

Capital and reserves

 

Called up share capital

200,000

200,000

Retained earnings

189,799

133,327

Shareholders' funds

 

389,799

333,327

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.

Approved and authorised by the Board on 30 June 2022 and signed on its behalf by:
 

.........................................

A Hollocks

Director

Company registration number: 12097293

 

C.Accounts UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2021

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
130 Shaftesbury Avenue
London
W1D 5AR

The principal activity of the company is the provision of accounting services.

2

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 30 June 2022 was Martin Widdowson, who signed for and on behalf of Brebners.

3

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Disclosure of long or short period

The financial statements have been prepared for the year ended 31 December 2021. The comparatives relate to the period 11 July 2019 to 31 December 2020.

Going concern

The company made a profit for the year ended 31 December 2021 and had net assets at that date amounting to £389,799 including cash at bank of £435,742.

The company has continued to trade profitably during the pandemic restrictions and with the restrictions now lifted the directors believe demand for the company's services remains.

The directors have considered the potential impact of the ongoing COVID-19 pandemic. The directors believe, to the best of their knowledge and belief, that the impact of the virus will not have a material impact upon the ability of the company to continue as a going concern.

Having made sufficient enquiries, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of accounting services in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts.

The company recognises revenue in the period to which the services relate.

 

C.Accounts UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2021

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

Straight line over 2 years

Furniture and fittings

Straight line over 2-7 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

C.Accounts UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2021

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

4

Staff numbers

The average number of persons employed by the company during the year, was 7 (2020 - 7).

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2021

7,547

15,000

22,547

Additions

8,023

-

8,023

At 31 December 2021

15,570

15,000

30,570

Depreciation

At 1 January 2021

2,718

10,000

12,718

Charge for the year

3,755

5,000

8,755

At 31 December 2021

6,473

15,000

21,473

Carrying amount

At 31 December 2021

9,097

-

9,097

At 31 December 2020

4,829

5,000

9,829

6

Debtors

2021
£

2020
£

Trade debtors

-

3,885

Other debtors

5,492

2,493

5,492

6,378

 

C.Accounts UK Ltd

Notes to the Financial Statements for the Year Ended 31 December 2021

7

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Trade creditors

700

2,438

Taxation and social security

44,578

84,168

Other creditors

15,254

14,535

60,532

101,141