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COMPANY REGISTRATION NUMBER: 04577812
ANGLO CONTINENTAL PLACEMENTS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 November 2023
ANGLO CONTINENTAL PLACEMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
1,694
1,628
Current assets
Debtors
6
7,600
5,536
Cash at bank and in hand
12,185
17,473
---------
---------
19,785
23,009
Creditors: amounts falling due within one year
7
8,828
7,449
---------
---------
Net current assets
10,957
15,560
---------
---------
Total assets less current liabilities
12,651
17,188
Creditors: amounts falling due after more than one year
8
12,222
14,444
Provisions
Taxation including deferred tax
424
407
---------
---------
Net assets
5
2,337
---------
---------
Capital and reserves
Called up share capital
5
5
Profit and loss account
2,332
----
-------
Shareholders funds
5
2,337
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ANGLO CONTINENTAL PLACEMENTS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 21 August 2024 , and are signed on behalf of the board by:
Mrs S Sloane
Director
Company registration number: 04577812
ANGLO CONTINENTAL PLACEMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 NOVEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 168 Church Road, Hove, BN3 2DL, East Sussex.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
No material uncertainties, that may cast significant doubt about the ability of the company to continue as a going concern, have been identified by the director.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. No significant judgements have had yo be made by the director in preparing these financial statements.
Revenue recognition
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture & Fittings
-
20% reducing balance
Computer equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. /For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 December 2022
13,380
10,418
23,798
Additions
649
649
Disposals
( 312)
( 312)
---------
---------
---------
At 30 November 2023
13,380
10,755
24,135
---------
---------
---------
Depreciation
At 1 December 2022
13,227
8,943
22,170
Charge for the year
30
393
423
Disposals
( 152)
( 152)
---------
---------
---------
At 30 November 2023
13,257
9,184
22,441
---------
---------
---------
Carrying amount
At 30 November 2023
123
1,571
1,694
---------
---------
---------
At 30 November 2022
153
1,475
1,628
---------
---------
---------
6. Debtors
2023
2022
£
£
Trade debtors
5,490
3,996
Other debtors
2,110
1,540
-------
-------
7,600
5,536
-------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
2,222
2,222
Corporation tax
1,613
1,057
Social security and other taxes
2,160
1,832
Other creditors
2,833
2,338
-------
-------
8,828
7,449
-------
-------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
12,222
14,444
---------
---------
9. Director's advances, credits and guarantees
As at 30 November 2023 the the company owed the director £NIL (2022: £48).
10. Related party transactions
The director Ms S Wolfe is the company's ultimate controlling party.