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Registration number: 09952694

Celestial Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Celestial Limited

Company Information

Director

Mr D Stern

Registered office

Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR

Accountants

Tax Innovations Limited
Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR

 

Celestial Limited

(Registration number: 09952694)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Current assets

 

Debtors

5

2,376

8,458

Cash at bank and in hand

 

-

43,795

 

2,376

52,253

Creditors: Amounts falling due within one year

6

(675)

(5,614)

Net assets

 

1,701

46,639

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

1,700

46,638

Shareholders' funds

 

1,701

46,639

For the financial year ending 31 January 2024 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 6 March 2024
 

.........................................
Mr D Stern
Director

 

Celestial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Innovations House
19 Staple Gardens
Winchester
Hampshire
SO23 8SR
England

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Celestial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

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

Office equipment

25% straight line

Computer equipment

25% straight line

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. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

 

Celestial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

3,827

3,827

Disposals

(3,827)

(3,827)

At 31 January 2024

-

-

Depreciation

At 1 February 2023

3,827

3,827

Eliminated on disposal

(3,827)

(3,827)

At 31 January 2024

-

-

Carrying amount

At 31 January 2024

-

-

 

Celestial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

1

3,970

Prepayments

 

2,375

-

Other debtors

 

-

4,488

   

2,376

8,458

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

900

Taxation and social security

-

2

Accruals and deferred income

-

1,800

Other creditors

675

2,912

675

5,614

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Dividends

   

2024

 

2023

   

£

 

£

Interim dividend of £38,590.00 (2023 - £Nil) per ordinary share

 

38,590

 

-

         
 

Celestial Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

9

Related party transactions

Loans to related parties

2024

Parent
£

Key management
£

Total
£

At start of period

1

3,969

3,970

Repaid

-

(3,969)

(3,969)

At end of period

1

-

1

2023

Parent
£

Key management
£

Total
£

At start of period

1

-

1

Advanced

-

3,969

3,969

At end of period

1

3,969

3,970

Terms of loans to related parties

Inter-company loan held owed by CG Holdings Ltd to Celestial Ltd - at 0% interest and non-repayment basis.
 Loan provided to director on 0% interest on a non-fixed repayment basis.
 

Loans from related parties

2024

Key management
£

Total
£

Advanced

675

675

At end of period

675

675

Terms of loans from related parties

Company owes funds to director as ath 31st January 2024 related to out of pocket expenses. This is on a 0% interest and non-fixed repayment basis.
 

10

Parent and ultimate parent undertaking

The company's immediate parent is CG Holdings Ltd, the sole shareholder, incorporated in Jersey.