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Registration number: 03620752

Cristo Cladding Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 August 2023

 

Cristo Cladding Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Cristo Cladding Limited

Company Information

Director

Mr C Cachrimanis

Company secretary

Mrs G M Cachrimanis

Registered office

39 High Street
Battle
East Sussex
TN33 0EE

Accountants

Manningtons
Chartered Accountants
39 High Street
Battle
East Sussex
TN33 0EE

 

Cristo Cladding Limited

(Registration number: 03620752)
Balance Sheet as at 31 August 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

-

268

Current assets

 

Stocks

5

-

850

Debtors

6

2,381

-

Cash at bank and in hand

 

-

30,506

 

2,381

31,356

Creditors: Amounts falling due within one year

7

(2,280)

(14,872)

Net current assets

 

101

16,484

Net assets

 

101

16,752

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1

16,652

Shareholders' funds

 

101

16,752

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

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 November 2023
 

.........................................
Mr C Cachrimanis
Director

 

Cristo Cladding Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
39 High Street
Battle
East Sussex
TN33 0EE
United Kingdom

The principal place of business is:
Four Winds Balcombe Green
Sedlescombe
Battle
East Sussex
TN33 0QL

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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Cristo Cladding Limited

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

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

25% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs 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. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Cristo Cladding Limited

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

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 September 2022

1,397

1,397

Disposals

(1,397)

(1,397)

At 31 August 2023

-

-

Depreciation

At 1 September 2022

1,129

1,129

Charge for the year

67

67

Eliminated on disposal

(1,196)

(1,196)

At 31 August 2023

-

-

Carrying amount

At 31 August 2023

-

-

At 31 August 2022

268

268

5

Stocks

2023
£

2022
£

Other inventories

-

850

 

Cristo Cladding Limited

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

6

Debtors

2023
£

2022
£

Director loan account

2,381

-

2,381

-

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

3,850

Taxation and social security

-

2,576

Accruals and deferred income

2,280

1,300

Other creditors

-

4,050

Director loan account

-

3,096

2,280

14,872

8

Related party transactions

The director's loan account was repaid after the year end.

Transactions with the director

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

Mr C Cachrimanis

loan

3,095

(29,436)

23,960

(2,381)