Registered number
10022181
CIRCULAR PRODUCTIONS LTD
Filleted Accounts
31 December 2023
CIRCULAR PRODUCTIONS LTD
Registered number: 10022181
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 50,726 887
Investments 4 474 374
51,200 1,261
Current assets
Debtors 5 111,587 81,548
Cash at bank and in hand 12,707 293,632
124,294 375,180
Creditors: amounts falling due within one year 7 (249,580) (304,699)
Net current (liabilities)/assets (125,286) 70,481
Total assets less current liabilities (74,086) 71,742
Provisions for liabilities (9,638) (169)
Net (liabilities)/assets (83,724) 71,573
Capital and reserves
Called up share capital 2 2
Profit and loss account (83,726) 71,571
Shareholders' funds (83,724) 71,573
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
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.
M E Page
Director
Approved by the board on 9 February 2024
CIRCULAR PRODUCTIONS LTD
Notes to the Accounts
for the year ended 31 December 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:
Computer & Office Equipment 25% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 4,704 - 4,704
Additions - 67,635 67,635
Disposals (4,704) - (4,704)
At 31 December 2023 - 67,635 67,635
Depreciation
At 1 January 2023 3,817 - 3,817
Charge for the year - 16,909 16,909
On disposals (3,817) - (3,817)
At 31 December 2023 - 16,909 16,909
Net book value
At 31 December 2023 - 50,726 50,726
At 31 December 2022 887 - 887
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2023 374
Additions 100
At 31 December 2023 474
Subsidiary Undertakings Ownership Capital
Motion Events Ltd 93.5% £374
Glitch Rythms Ltd 100.0% £100
5 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest - 36,231
Prepayments 45,110 -
Other debtors 66,477 45,317
111,587 81,548
6 Investments held as current assets 2023 2022
£ £
Fair value
Increase/(decrease) in fair value included in the profit and loss account for the financial year
Listed investments - (80,374)
7 Creditors: amounts falling due within one year 2023 2022
£ £
Obligations under finance lease and hire purchase contracts 55,752 -
Trade creditors 193,728 271,202
Amounts owed to group undertakings and undertakings in which the company has a participating interest 100 -
Taxation and social security costs - 33,497
249,580 304,699
8 Controlling party
The company is ultimately controlled by Dan Law-Deeks Esq & Martin Page Esq.
9 Other information
CIRCULAR PRODUCTIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Penneywell Projects
30-64 Pennywell Road
First Floor Front
Bristol
BS5 0TL
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