Registered number
08453287
Charlotte Cornelius Ltd
Filleted Accounts
31 March 2023
Charlotte Cornelius Ltd
Registered number: 08453287
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 30,547 26,337
Current assets
Stocks 93,222 87,954
Debtors 4 39,372 48,621
Cash at bank and in hand 32,070 51,500
164,664 188,075
Creditors: amounts falling due within one year 5 (54,084) (62,788)
Net current assets 110,580 125,287
Total assets less current liabilities 141,127 151,624
Provisions for liabilities (5,453) (4,534)
Net assets 135,674 147,090
Capital and reserves
Called up share capital 100 100
Profit and loss account 135,574 146,990
Shareholder's funds 135,674 147,090
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 her 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.
C Cornelius
Director
Approved by the board on 24 November 2023
Charlotte Cornelius Ltd
Notes to the Accounts
for the year ended 31 March 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
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:
Land and building 10% reducing balance basis
Fixtures, fittings, tools and equipment 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2022 4,188 68,531 72,719
Additions - 11,752 11,752
At 31 March 2023 4,188 80,283 84,471
Depreciation
At 1 April 2022 1,715 44,667 46,382
Charge for the year 247 7,295 7,542
At 31 March 2023 1,962 51,962 53,924
Net book value
At 31 March 2023 2,226 28,321 30,547
At 31 March 2022 2,473 23,864 26,337
4 Debtors 2023 2022
£ £
Trade debtors 35,348 44,118
Other debtors 4,024 4,503
39,372 48,621
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 9,015 8,245
Taxation and social security costs 25,495 35,460
Other creditors 19,574 19,083
54,084 62,788
6 Other information
Charlotte Cornelius Ltd is a private company limited by shares and incorporated in England. Its registered office is:
87a Marmion Road
Southsea
Hampshire
PO5 2AX
Charlotte Cornelius Ltd 08453287 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts October 2023 release 2 C Cornelius No description of principal activity 08453287 2021-04-01 2022-03-31 08453287 core:WithinOneYear 2022-03-31 08453287 core:ShareCapital 2022-03-31 08453287 core:RetainedEarningsAccumulatedLosses 2022-03-31 08453287 2022-04-01 2023-03-31 08453287 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08453287 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08453287 bus:Director40 2022-04-01 2023-03-31 08453287 1 2022-04-01 2023-03-31 08453287 2 2022-04-01 2023-03-31 08453287 core:LandBuildings 2022-04-01 2023-03-31 08453287 core:PlantMachinery 2022-04-01 2023-03-31 08453287 countries:England 2022-04-01 2023-03-31 08453287 bus:FRS102 2022-04-01 2023-03-31 08453287 bus:FullAccounts 2022-04-01 2023-03-31 08453287 2023-03-31 08453287 core:WithinOneYear 2023-03-31 08453287 core:ShareCapital 2023-03-31 08453287 core:RetainedEarningsAccumulatedLosses 2023-03-31 08453287 core:LandBuildings 2023-03-31 08453287 core:PlantMachinery 2023-03-31 08453287 2022-03-31 08453287 core:LandBuildings 2022-03-31 08453287 core:PlantMachinery 2022-03-31 iso4217:GBP xbrli:pure