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Registration number: 05855738

FIRST CONSTELLATION LIMITED

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

FIRST CONSTELLATION LIMITED

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

FIRST CONSTELLATION LIMITED

Company Information

Director

Mr N Patel

Registered office

4 Lambert Road
North Finchley
London
N12 9ES

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

FIRST CONSTELLATION LIMITED

(Registration number: 05855738)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

976

1,197

Current assets

 

Debtors

421

224

Other financial assets

212,504

212,504

Cash at bank and in hand

 

374,643

389,236

 

587,568

601,964

Creditors: Amounts falling due within one year

(262)

(262)

Net current assets

 

587,306

601,702

Net assets

 

588,282

602,899

Capital and reserves

 

Called up share capital

6

1

1

Revaluation reserve

34,402

34,402

Retained earnings

553,879

568,496

Shareholders' funds

 

588,282

602,899

For the financial year ending 30 November 2023 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.

 

FIRST CONSTELLATION LIMITED

(Registration number: 05855738)
Balance Sheet as at 30 November 2023

Approved and authorised by the director on 13 August 2024
 

.........................................

Mr N Patel
Director

 

FIRST CONSTELLATION LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
4 Lambert Road
North Finchley
London
N12 9ES

These financial statements were authorised for issue by the director on 13 August 2024.

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.

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

4 Year Straight Line

Fixture and Fittings

4 Year Straight Line

 

FIRST CONSTELLATION LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

FIRST CONSTELLATION LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 December 2022

6,820

6,820

Additions

1,463

1,463

At 30 November 2023

8,283

8,283

Depreciation

At 1 December 2022

6,820

6,820

Charge for the year

487

487

At 30 November 2023

7,307

7,307

Carrying amount

At 30 November 2023

976

976

At 30 November 2022

1,197

1,197

5

Current asset investments

Listed investments

6

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

1

1

1

1

       
 

FIRST CONSTELLATION LIMITED

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

7

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Total
£

Surplus/deficit on revaluation of other assets

34,402

34,402