Registered number
06092115
Culworth Limited
Filleted Accounts for the year ended
28 February 2023
Culworth Limited
Registered number: 06092115
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,519 2,829
Current assets
Debtors 4 - 376
Cash at bank and in hand 41,109 35,501
41,109 35,877
Creditors: amounts falling due within one year 5 (55,388) (48,624)
Net current liabilities (14,279) (12,747)
Net liabilities (6,760) (9,918)
Capital and reserves
Called up share capital 1 1
Profit and loss account (6,761) (9,919)
Shareholder's funds (6,760) (9,918)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr P Powell
Director
Approved by the board on 2 November 2023
Culworth Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services which 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% Straight line
Motor vehicles 25% Straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 March 2022 3,618 8,200 11,818
Additions 6,076 - 6,076
At 28 February 2023 9,694 8,200 17,894
Depreciation
At 1 March 2022 789 8,200 8,989
Charge for the year 1,386 - 1,386
At 28 February 2023 2,175 8,200 10,375
Net book value
At 28 February 2023 7,519 - 7,519
At 28 February 2022 2,829 - 2,829
4 Debtors 2023 2022
£ £
Trade debtors - 376
5 Creditors: amounts falling due within one year 2023 2022
£ £
Directors loan 54,698 48,006
Other creditors 690 618
55,388 48,624
6 Transactions with the director
As at 28 February 2023 the director P Powell had loaned the company £54,698 (2022: £48,006) on an interest free basis with no set repayment date. This can be seen in creditors.
7 Controlling party
The ultimate controlling party is the director P Powell who holds 100% of the share capital.
8 Other information
Culworth Limited is a private company limited by shares and incorporated in England. Its registered office is:
91 Abbeville Road
London
SW4 9JL
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