Company Registration No. 08822362 (England and Wales)
Cullen Industries Ltd
Unaudited accounts
for the year ended 31 December 2021
Cullen Industries Ltd
Unaudited accounts
Contents
Cullen Industries Ltd
Company Information
for the year ended 31 December 2021
Company Number
08822362 (England and Wales)
Registered Office
141 Tinshill Lane
Leeds
LS16 6DG
Accountants
Weir Associates Ltd
Allia Futures Business Centre
Kings Hedges Road
Cambridge
CB4 2HY
Cullen Industries Ltd
Statement of financial position
as at 31 December 2021
Cash at bank and in hand
23,944
10,621
Creditors: amounts falling due within one year
(28,423)
(33,137)
Net current assets
21,576
10,471
Total assets less current liabilities
23,422
10,971
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
23,070
10,875
Shareholders' funds
23,071
10,876
For the year ending 31 December 2021 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 September 2022 and were signed on its behalf by
G Cullen
Director
Company Registration No. 08822362
Cullen Industries Ltd
Notes to the Accounts
for the year ended 31 December 2021
Cullen Industries Ltd is a private company, limited by shares, registered in England and Wales, registration number 08822362. The registered office is 141 Tinshill Lane, Leeds, LS16 6DG.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Straight Line - 4 Years
Fixtures & fittings
Straight Line - 4 Years
Computer equipment
Straight Line - 4 Years
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Cullen Industries Ltd
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2021
5,259
-
5,259
At 31 December 2021
5,858
1,374
7,232
At 1 January 2021
4,759
-
4,759
Charge for the year
341
286
627
At 31 December 2021
5,100
286
5,386
At 31 December 2021
758
1,088
1,846
At 31 December 2020
500
-
500
5
Debtors: amounts falling due within one year
2021
2020
Trade debtors
11,635
14,225
Other debtors
14,420
18,762
6
Creditors: amounts falling due within one year
2021
2020
Taxes and social security
19,965
24,178
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan - Variable interest rate loan repayable on demand
13,149
5,341
9,682
8,808
8
Average number of employees
During the year the average number of employees was 1 (2020: 1).