Registered number
13656981
Celebrate Difference Ltd
Filleted Accounts
31 October 2023
Celebrate Difference Ltd
Registered number: 13656981
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,225 2,046
Current assets
Debtors 4 108,473 33,573
Cash at bank and in hand 163,990 39,235
272,463 72,808
Creditors: amounts falling due within one year 5 (223,592) (41,621)
Net current assets 48,871 31,187
Total assets less current liabilities 59,096 33,233
Provisions for liabilities (2,556) -
Net assets 56,540 33,233
Capital and reserves
Profit and loss account 56,540 33,233
Company funds 56,540 33,233
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 member has 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.
L P Forsyth
Director
Approved by the board on 15 February 2024
Celebrate Difference Ltd
Notes to the Accounts
for the year ended 31 October 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 equipment over 5 years
Office equipment over 5 years
Debtors
Short term debtors are measured at transaction price (which is the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is 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.
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 9 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 271 1,900 2,171
Additions 6,149 3,434 9,583
At 31 October 2023 6,420 5,334 11,754
Depreciation
At 1 November 2022 18 107 125
Charge for the year 801 603 1,404
At 31 October 2023 819 710 1,529
Net book value
At 31 October 2023 5,601 4,624 10,225
At 31 October 2022 253 1,793 2,046
4 Debtors 2023 2022
£ £
Trade debtors 107,898 33,573
Other debtors 575 -
108,473 33,573
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 206,965 31,944
Taxation and social security costs 10,509 9,677
Other creditors 6,118 -
223,592 41,621
6 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
N Little
Directors loan - 6,118 - 6,118
- 6,118 - 6,118
7 Other information
Celebrate Difference Ltd is a private company limited by guarantee without share capital and incorporated in England. Its registered office is:
1 Sherburn Terrace
Consett
DH8 6ND
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