Registered number
07321658
Culloma Technologies Limited
Filleted Accounts
31 December 2023
Culloma Technologies Limited
Registered number: 07321658
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 760 1,013
Investments 4 632 632
1,392 1,645
Current assets
Debtors 5 1,920 -
Cash at bank and in hand 12,146 4,260
14,066 4,260
Creditors: amounts falling due within one year 6 (87,703) (117,107)
Net current liabilities (73,637) (112,847)
Total assets less current liabilities (72,245) (111,202)
Creditors: amounts falling due after more than one year 7 (9,784) (14,152)
Net liabilities (82,029) (125,354)
Capital and reserves
Called up share capital 67,165 67,165
Share premium 123,504 123,504
Revaluation reserve 8 (1,839) -
Profit and loss account (270,859) (316,023)
Shareholders' funds (82,029) (125,354)
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.
P J Christian
Director
Approved by the board on 31 March 2024
Culloma Technologies Limited
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Fixtures, fittings, tools and 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 16,968
At 31 December 2023 16,968
Depreciation
At 1 January 2023 15,955
Charge for the year 253
At 31 December 2023 16,208
Net book value
At 31 December 2023 760
At 31 December 2022 1,013
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 January 2023 632 - 632
At 31 December 2023 632 - 632
Culloma Technologies Inc. is a wholly owned subsidiary incorporated on 4th December 2012
in the USA. There are 100 $10 shares in issue and the company has remained dormant.
5 Debtors 2023 2022
£ £
Trade debtors 1,920 -
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 4,788 4,788
Trade creditors 76,239 76,235
Directors' loan account 3,134 34,667
Other taxes and social security costs 3,542 1,417
87,703 117,107
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 9,784 14,152
8 Revaluation reserve 2023 2022
£ £
Loss on revaluation of US dollar accounts (1,839) -
At 31 December 2023 (1,839) -
9 Controlling party
The company is controlled by the director P J Christian by virtue of his holding of more than 50% of the issued share capital.
10 Other information
Culloma Technologies Limited is a private company limited by shares and incorporated in England. Its registered office is:
Three Oaks
White Lane, Ash Green
Guildford
Surrey
GU12 6HW
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