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Registration number: 05381836

C Page Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

C Page Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

C Page Limited

Company Information

Directors

Mr M Page

Mr A Eely

Mr C Page

Registered office

Unit 2a, Victoria Trading Estate
Victoria Road
Portslade
East Sussex
BN41 1XQ

Accountants

Durston Gibb
Chartered Accountants
1 Blatchington Road
Hove
East Sussex
BN3 3YP

 

C Page Limited

(Registration number: 05381836)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

607

Tangible assets

5

497,720

504,705

 

497,720

505,312

Current assets

 

Stocks

6

1,147,276

910,000

Debtors

7

823,424

929,360

Cash at bank and in hand

 

2,340,635

1,451,348

 

4,311,335

3,290,708

Creditors: Amounts falling due within one year

8

(979,315)

(901,180)

Net current assets

 

3,332,020

2,389,528

Total assets less current liabilities

 

3,829,740

2,894,840

Provisions for liabilities

(94,406)

(95,652)

Net assets

 

3,735,334

2,799,188

Capital and reserves

 

Called up share capital

9

100

100

Retained earnings

3,735,234

2,799,088

Shareholders' funds

 

3,735,334

2,799,188

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

 

C Page Limited

(Registration number: 05381836)
Balance Sheet as at 31 March 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 October 2023 and signed on its behalf by:
 

.........................................
Mr A Eely
Director

 

C Page Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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:
Unit 2a, Victoria Trading Estate
Victoria Road
Portslade
East Sussex
BN41 1XQ

These financial statements were authorised for issue by the Board on 11 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns and discounts. The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

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

 

C Page Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. 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 balance sheet 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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Fixtures, fittings & equipment

25% reducing balance

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Intangible assets

Separately acquired brands are shown at historical cost. Brands have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Product brands

20% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

C Page Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the average method. The cost of finished goods comprises direct materials and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2022 - 24).

 

C Page Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Intangible assets

Brand names
 £

Total
£

Cost or valuation

At 1 April 2022

48,130

48,130

At 31 March 2023

48,130

48,130

Amortisation

At 1 April 2022

47,523

47,523

Amortisation charge

607

607

At 31 March 2023

48,130

48,130

Carrying amount

At 31 March 2023

-

-

At 31 March 2022

607

607

 

C Page Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2022

604,398

177,573

781,971

Additions

10,663

135,740

146,403

Disposals

(129,458)

(8,999)

(138,457)

At 31 March 2023

485,603

304,314

789,917

Depreciation

At 1 April 2022

258,275

18,991

277,266

Charge for the year

84,883

50,844

135,727

Eliminated on disposal

(112,248)

(8,548)

(120,796)

At 31 March 2023

230,910

61,287

292,197

Carrying amount

At 31 March 2023

254,693

243,027

497,720

At 31 March 2022

346,123

158,582

504,705

6

Stocks

2023
£

2022
£

Other inventories

1,147,276

910,000

 

C Page Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

103,654

217,655

Amounts owed by related parties

11

3,453

-

Prepayments

 

16,317

9,330

Other debtors

 

700,000

702,375

   

823,424

929,360

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

412,099

380,917

Taxation and social security

468,852

464,656

Accruals and deferred income

2,855

2,015

Other creditors

95,509

53,592

979,315

901,180

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Share of £1 each

90

90

90

90

Ordinary A Share of £1 each

10

10

10

10

 

100

100

100

100

 

C Page Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

10

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £6,402.66 (2022 - £6,455.55) per each Ordinary Share

 

576,240

 

581,000

Interim dividend of £1,881.20 (2022 - £20,115.30) per each Ordinary A Share

 

188,120

 

201,153

   

764,360

 

782,153

Reconciliation to Dividends categories

Difference to be corrected

 

 

-

11

Related party transactions

Summary of transactions with other related parties

The company has made a loan to a company over which it can exert significant influence.
 The company has an outstanding loan of £700,000 which has been Included in other debtors.
 The loan is interest free and is repayable on demand.
 

Loans to related parties

2023

Other related parties
£

Total
£

At start of period

700,000

700,000

At end of period

700,000

700,000

2022

Other related parties
£

Total
£

At start of period

700,000

700,000

At end of period

700,000

700,000