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Registered Number: 11241031


 

 

 

THE FUNICULAR LTD.


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2022

End date: 31 March 2023
Directors Annita Gkioka
Justin van Oortmerssen
Registered Number 11241031
Registered Office The Funicular Coffeehous
The Parade
Broadstairs
CT10 1LZ
Accountants NO1 Accountants Ltd
Office One
1 Coldbath Square Farringdon
LONDON
EC1R 5HL
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 31 March 2023.
Directors
The directors who served the company throughout the year were as follows:
Annita Gkioka
Justin van Oortmerssen
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Annita Gkioka
Director

Date approved: 18 April 2023
2
Accountants report
You consider that the company is exempt from an audit for the year ended 31 March 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity, and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently, we do not express any opinion on these accounts.



....................................................
NO1 Accountants Ltd
Office One
1 Coldbath Square Farringdon
LONDON
EC1R 5HL
18 April 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 57,172    29,378 
57,172    29,378 
Current assets      
Debtors 4 8,960    553 
Cash at bank and in hand 18,748    30,215 
27,708    30,768 
Creditors: amount falling due within one year 5 (21,899)   (16,051)
Net current assets 5,809    14,717 
 
Total assets less current liabilities 62,981    44,095 
Net assets 62,981    44,095 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 62,980    44,094 
Shareholder's funds 62,981    44,095 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 April 2023 and were signed on its behalf by:


--------------------------------
Annita Gkioka
Director
4
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 April 2021 1  51,107  51,108 
Profit for the year 68,387  68,387 
Total comprehensive income for the year 68,387  68,387 
Dividends (75,400) (75,400)
Total investments by and distributions to owners (75,400) (75,400)
At 31 March 2022 1  44,094  44,095 
At 01 April 2022 1  44,094  44,095 
Profit for the year 94,286  94,286 
Total comprehensive income for the year 94,286  94,286 
Dividends (75,400) (75,400)
Total investments by and distributions to owners (75,400) (75,400)
At 31 March 2023 1  62,980  62,981 
5
General Information
THE FUNICULAR LTD. is a private company, limited by shares, registered in , registration number 11241031, registration address The Funicular Coffeehous, The Parade, Broadstairs , CT10 1LZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25 Straight Line
Leasehold land and Buildings 25 Straight Line
Plant and Machinery 25 Straight Line
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 2).
3.

Tangible fixed assets

Cost or valuation Leasehold land and Buildings   Plant and Machinery   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 April 2022 10,928      31,456    4,191    46,575 
Additions   37,940    5,926      43,866 
Disposals        
At 31 March 2023 10,928    37,940    37,382    4,191    90,441 
Depreciation
At 01 April 2022 2,567    8,595    14,630      25,792 
Charge for year   1,950    5,527      7,477 
On disposals        
At 31 March 2023 2,567    10,545    20,157      33,269 
Net book values
Closing balance as at 31 March 2023 8,361    27,395    17,225    4,191    57,172 
Opening balance as at 01 April 2022 8,361      21,017      29,378 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
VAT 8,960    553 
8,960    553 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Corporation Tax 12,055    11,197 
PAYE & Social Security 128    198 
Accrued Expenses   1,750 
Directors' Current Accounts 9,716    2,906 
21,899    16,051 

6