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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
Page
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Cullen Industries Ltd Company Information for the year ended 31 December 2021
Director
G Cullen
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
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Cullen Industries Ltd Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,846 
500 
Current assets
Debtors
26,055 
32,987 
Cash at bank and in hand
23,944 
10,621 
49,999 
43,608 
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
Deferred tax
(351)
(95)
Net assets
23,071 
10,876 
Capital and reserves
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
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Cullen Industries Ltd Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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
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 taxation
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.
Foreign exchange
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.
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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 
Additions
599 
1,374 
1,973 
At 31 December 2021
5,858 
1,374 
7,232 
Depreciation
At 1 January 2021
4,759 
- 
4,759 
Charge for the year
341 
286 
627 
At 31 December 2021
5,100 
286 
5,386 
Net book value
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 
26,055 
32,987 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
7,658 
8,159 
Taxes and social security
19,965 
24,178 
Accruals
800 
800 
28,423 
33,137 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Loan - Variable interest rate loan repayable on demand
13,149 
5,341 
9,682 
8,808 
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).
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