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Registration number: 06715803

C21 Solutions Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

C21 Solutions Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

C21 Solutions Limited

Company Information

Director

Mr Malcolm Kevin Wailes

Registered office

9 Fairbourne Gardens
Redditch
Worcestershire
B97 5GE

Accountants

Robert M W Wood
Chartered Accountant
27 Silver Birch Drive
Hollywood
Birmingham
B47 5RB

 

C21 Solutions Limited

(Registration number: 06715803)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,468

1,445

Investments

5

50

50

 

1,518

1,495

Current assets

 

Debtors

6

24,762

13,793

Cash at bank and in hand

 

266,687

270,876

 

291,449

284,669

Creditors: Amounts falling due within one year

7

(29,052)

(29,194)

Net current assets

 

262,397

255,475

Net assets

 

263,915

256,970

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

263,815

256,870

Shareholders' funds

 

263,915

256,970

For the financial year ending 31 December 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.

Approved and authorised by the director on 5 September 2024
 

.........................................
Mr Malcolm Kevin Wailes
Director

 

C21 Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
9 Fairbourne Gardens
Redditch
Worcestershire
B97 5GE
United Kingdom

These financial statements were authorised for issue by the director on 5 September 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

C21 Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

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

Computer equipment

33% on cost

Fixtures and fittings

20% on cost

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

 

C21 Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

3

Staff numbers

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

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

7,619

7,619

Additions

700

700

At 31 December 2023

8,319

8,319

Depreciation

At 1 January 2023

6,174

6,174

Charge for the year

677

677

At 31 December 2023

6,851

6,851

Carrying amount

At 31 December 2023

1,468

1,468

At 31 December 2022

1,445

1,445

 

C21 Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Investments

2023
£

2022
£

Investments in associates

50

50

Associates

£

Cost

At 1 January 2023

50

Provision

Carrying amount

At 31 December 2023

50

At 31 December 2022

50

Aggregate financial information of associates

2023
£

2022
£

Total assets

17,943

15,977

Total liabilities

(15,449)

(15,021)

Net assets

2,494

956

Profit or loss

1,899

1,954

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Associates

Emplex Limited

9 Fairbourne Gardens
Redditch
Worcestershire
B97 5GE

Ordinary

50%

50%

England and Wales

 

C21 Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Associates

Emplex Limited

The principal activity of Emplex Limited is IT systems support. Its financial period end is 30 June.

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

24,240

13,050

Amounts owed by related parties

9

450

450

Other debtors

 

72

293

   

24,762

13,793

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,650

556

Taxation and social security

25,632

22,321

Accruals and deferred income

1,289

3,394

Other creditors

481

2,923

29,052

29,194

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       
 

C21 Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Transactions with the director

2023

At 1 January 2023
£

Repayments to director
£

At 31 December 2023
£

Mr Malcolm Kevin Wailes

Director's loan

(2,923)

2,442

(481)

       
     

 

2022

At 1 January 2022
£

Advances by director
£

Repayments to director
£

At 31 December 2022
£

Mr Malcolm Kevin Wailes

Director's loan

(523)

(2,400)

-

(2,923)

         
       

 

Income and receivables from related parties

2023

Associates
£

Receipt of services

22,800

2022

Associates
£

Receipt of services

22,800

Loans to related parties

2023

Associates
£

At start of period

450

At end of period

450

2022

Associates
£

At start of period

450

At end of period

450

10

Parent and ultimate parent undertaking

The ultimate controlling party is Mr M K Wailes.