Company Registration No. 12319419 (England and Wales)
Cercle Ltd
Unaudited accounts
for the year ended 30 November 2023
Cercle Ltd
Unaudited accounts
Contents
Cercle Ltd
Company Information
for the year ended 30 November 2023
Directors
Coralie Baraer Panazza
Hubert Baraer
Hanna Lynggaard
Company Number
12319419 (England and Wales)
Registered Office
3 124 Sutherland Avenue
Cercle
London
W9 2QP
England
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Cercle Ltd
Statement of financial position
as at 30 November 2023
Tangible assets
11,070
16,743
Cash at bank and in hand
405,206
608,846
Creditors: amounts falling due within one year
(33,948)
(48,660)
Net current assets
382,736
571,538
Total assets less current liabilities
393,806
588,281
Provisions for liabilities
Net assets
393,516
588,281
Called up share capital
10,000
10,000
Share premium
1,066,950
1,066,950
Profit and loss account
(683,434)
(488,669)
Shareholders' funds
393,516
588,281
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. 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 for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by
Coralie Baraer Panazza
Director
Company Registration No. 12319419
Cercle Ltd
Notes to the Accounts
for the year ended 30 November 2023
Cercle Ltd is a private company, limited by shares, registered in England and Wales, registration number 12319419. The registered office is 3 124 Sutherland Avenue, Cercle, London, W9 2QP, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Clothing included within "Plant and Machinery": 2 years
Fixtures and Fittings: 5 years
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
The directors believe that the company has adequate financial resources to continue in operation for the foreseeable future and accordingly the annual financial statements have been prepared on a going concern basis.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Cercle Ltd
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 December 2022
13,452
7,831
1,807
23,090
Additions
317
1,209
-
1,526
At 30 November 2023
13,769
9,040
1,807
24,616
At 1 December 2022
5,506
720
121
6,347
Charge for the year
5,071
1,767
361
7,199
At 30 November 2023
10,577
2,487
482
13,546
At 30 November 2023
3,192
6,553
1,325
11,070
At 30 November 2022
7,946
7,111
1,686
16,743
Amounts falling due within one year
Other debtors
11,478
11,244
Amounts falling due after more than one year
Accrued income and prepayments
-
108
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
(3,035)
4,390
Other creditors
5,912
10,735
Loans from directors
31,071
26,759
As at 30 November 2023, £24,123 is payable to Coralie Panazza, a director of the company. This loan is repayable on demand and accrues no interest.
Allotted, called up and fully paid:
3,052 Ordinary shares - paid of £1 each
3,052
3,052
6,948 Ordinary shares - unpaid of £1 each
6,948
6,948
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).