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Company Registration No. 07789131 (England and Wales)
The Circle London Group Limited Unaudited accounts for the year ended 31 March 2023
The Circle London Group Limited Unaudited accounts Contents
Page
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The Circle London Group Limited Company Information for the year ended 31 March 2023
Director
Ashley Jagdeo
Company Number
07789131 (England and Wales)
Registered Office
21 Noel Street London W1F 8GP
Accountants
Barley Grove Financial Solutions Limited 19 Barley Way Elsenham Bishop's Stortford CM22 6GX
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The Circle London Group Limited Statement of financial position as at 31 March 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,133 
4,296 
Current assets
Inventories
1,500 
1,500 
Debtors
24,124 
21,000 
Cash at bank and in hand
7,780 
43,354 
33,404 
65,854 
Creditors: amounts falling due within one year
(42,638)
(34,916)
Net current (liabilities)/assets
(9,234)
30,938 
Total assets less current liabilities
(5,101)
35,234 
Creditors: amounts falling due after more than one year
(32,856)
(30,753)
Net (liabilities)/assets
(37,957)
4,481 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(38,057)
4,381 
Shareholders' funds
(37,957)
4,481 
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 March 2024 and were signed on its behalf by
Ashley Jagdeo Director Company Registration No. 07789131
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The Circle London Group Limited Notes to the Accounts for the year ended 31 March 2023
1
Statutory information
The Circle London Group Limited is a private company, limited by shares, registered in England and Wales, registration number 07789131. The registered office is 21 Noel Street, London, W1F 8GP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Significant judgements and estimates
No significant judgements or estimates have had to be made by the directors in preparing these financial statements.
Going concern
The director has undertaken to continue his financial support of the company for the foreseeable future. On this basis he believes it is appropriate to prepare these accounts on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Other tangible fixed assets
25% - Reducing Balance & Straight Line
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The Circle London Group Limited Notes to the Accounts for the year ended 31 March 2023
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tax
Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred tax assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 April 2022
22,750 
Additions
1,041 
At 31 March 2023
23,791 
Depreciation
At 1 April 2022
18,454 
Charge for the year
1,204 
At 31 March 2023
19,658 
Net book value
At 31 March 2023
4,133 
At 31 March 2022
4,296 
5
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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