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COMPANY REGISTRATION NUMBER: 07825114
CIRANDA CULTURAL PUBLISHING LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2022
CIRANDA CULTURAL PUBLISHING LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2022
2022
2021
Note
£
£
Current assets
Stocks
40,000
Debtors
4
147,939
220,580
Cash at bank and in hand
21,677
51,302
----------
----------
209,616
271,882
Creditors: amounts falling due within one year
5
13,375
64,396
----------
----------
Net current assets
196,241
207,486
----------
----------
Total assets less current liabilities
196,241
207,486
----------
----------
Net assets
196,241
207,486
----------
----------
Capital and reserves
Called up share capital
2
2
Profit and loss account
196,239
207,484
----------
----------
Shareholders funds
196,241
207,486
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2022 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CIRANDA CULTURAL PUBLISHING LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2022
These financial statements were approved by the board of directors and authorised for issue on 5 October 2023 , and are signed on behalf of the board by:
Mr D W Buchweitz
Director
Company registration number: 07825114
CIRANDA CULTURAL PUBLISHING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, East Sussex, BN3 2DL.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Debtors
2022
2021
£
£
Trade debtors
15,669
105,196
Amounts owed by group undertakings and undertakings in which the company has a participating interest
129,897
115,354
Other debtors
2,373
30
----------
----------
147,939
220,580
----------
----------
5. Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
7,964
36,859
Corporation tax
20,644
Other creditors
5,411
6,893
---------
---------
13,375
64,396
---------
---------
6. Directors' advances, credits and guarantees
At the balance sheet date the company owed the directors a total of £231 (2021 - £231).