Company registration number: 12147684
Unaudited financial statements
for the year ended 31 December 2023
for
The Circle Line London Ltd
Pages for filing with the Registrar
Company registration number: 12147684
The Circle Line London Ltd
Balance sheet
as at 31 December 2023
31 Dec 23 31 Dec 22
Note £ £ £ £
Fixed assets
Intangible assets 4 9,345 9,649
Tangible assets 5 256 384
9,601 10,033
Current assets
Debtors 24,146 7,165
Cash at bank and in hand 99,780 147,930
123,926 155,095
Creditors: amounts falling due within
one year
(115,426) (104,402)
Net current assets 8,500 50,693
Total assets less current liabilities 18,101 60,726
Provisions for liabilities (73) (73)
NET ASSETS 18,028 60,653
Capital and reserves
Called up share capital 140 100
Profit and loss account 17,888 60,553
TOTAL EQUITY 18,028 60,653
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2023.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 12147684
The Circle Line London Ltd
Balance sheet - continued
as at 31 December 2023
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 12 August 2024 and signed on its behalf by:
Mr W Barnard, Director
12 August 2024
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The Circle Line London Ltd
Notes to the financial statements
for the year ended 31 December 2023
1 Company information
The company is registered in England and Wales. Its registered number is 12147684. The company is limited by shares. Its registered office is 128 City Road, London, EC1V 2NX.
2 Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Development costs - amortised evenly over their estimated useful life of five
years
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc.:
Computer equipment - 33% reducing balance
3
The Circle Line London Ltd
Notes to the financial statements - continued
for the year ended 31 December 2023
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation 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 balance sheet date.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that been enacted or substantively enacted by the balance sheet date and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit and loss in the period to which they relate.
3 Average number of employees
During the year the average number of employees was 3 (2022 - 1).
4 Intangible assets
Other
intangible
assets
£
Cost
At 1 January 2023 30,100
Additions 7,326
At 31 December 2023 37,426
Amortisation
At 1 January 2023 20,451
Charge for year 7,630
At 31 December 2023 28,081
4
The Circle Line London Ltd
Notes to the financial statements - continued
for the year ended 31 December 2023
4 Intangible assets - continued
Net book value
At 31 December 2023 9,345
At 31 December 2022 9,649
5 Tangible fixed assets
Plant and
machinery
etc.
£
Cost
At 1 January 2023 645
At 31 December 2023 645
Depreciation
At 1 January 2023 261
Charge for year 128
At 31 December 2023 389
Net book value
At 31 December 2023 256
At 31 December 2022 384
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