Celebrity Ink Autographs Limited 08818645 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the sale of celebrity autographed photos and pictures. Digita Accounts Production Advanced 6.30.9574.0 true true 08818645 2023-01-01 2023-12-31 08818645 2023-12-31 08818645 bus:OrdinaryShareClass1 2023-12-31 08818645 core:RetainedEarningsAccumulatedLosses 2023-12-31 08818645 core:ShareCapital 2023-12-31 08818645 core:CurrentFinancialInstruments 2023-12-31 08818645 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 08818645 bus:SmallEntities 2023-01-01 2023-12-31 08818645 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08818645 bus:FilletedAccounts 2023-01-01 2023-12-31 08818645 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08818645 bus:RegisteredOffice 2023-01-01 2023-12-31 08818645 bus:Director1 2023-01-01 2023-12-31 08818645 bus:Director2 2023-01-01 2023-12-31 08818645 bus:Director3 2023-01-01 2023-12-31 08818645 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 08818645 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08818645 countries:EnglandWales 2023-01-01 2023-12-31 08818645 2022-01-01 2022-12-31 08818645 2022-12-31 08818645 bus:OrdinaryShareClass1 2022-12-31 08818645 core:RetainedEarningsAccumulatedLosses 2022-12-31 08818645 core:ShareCapital 2022-12-31 08818645 core:CurrentFinancialInstruments 2022-12-31 08818645 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 08818645

Celebrity Ink Autographs Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Celebrity Ink Autographs Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Celebrity Ink Autographs Limited

Company Information

Directors

SJ Finn

DL Finn

J V Joiner

Registered office

1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

Accountants

Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ

 

Celebrity Ink Autographs Limited

(Registration number: 08818645)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

200

200

Current assets

 

Stocks

4

102,387

126,218

Debtors

5

2,974

3,553

Cash at bank and in hand

 

172,532

161,749

 

277,893

291,520

Creditors: Amounts falling due within one year

6

(21,380)

(29,723)

Net current assets

 

256,513

261,797

Net assets

 

256,713

261,997

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

256,709

261,993

Shareholders' funds

 

256,713

261,997

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.

Directors' 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 directors acknowledge their 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.

 

Celebrity Ink Autographs Limited

(Registration number: 08818645)
Balance Sheet as at 31 December 2023 (continued)

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2024 and signed on its behalf by:
 

.........................................
DL Finn
Director

.........................................
J V Joiner
Director

 
     
 

Celebrity Ink Autographs Limited

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

1

General information

Celebrity Ink Autographs Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08818645 and registered office address is as follows:
 


1-2 Rhodium Point Spindle Close
Hawkinge
Folkestone
Kent
CT18 7TQ
 

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

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 are prepared on a going concern basis and there are no material uncertainties that cast significant doubt on the Company’s ability to continue as a going concern.

 

Celebrity Ink Autographs Limited

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

2

Accounting policies (continued)

Judgements

No judgements have been made in the process of applying the accounting policies that have had a significant effect on the amounts recognised in the financial statements.

No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made.

Revenue recognition

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

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the Company has transferred the significant risks and rewards of ownership to the buyer;
- the Company does not retain continuing managerial involvement to the degree associated with ownership;
- the Company does not retain effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transasction can be measured reliably

Finance income and costs policy

Interest income is recognised in the profit and loss account using the effective interest method.

Finance costs are charged to the profit and loss account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

 

Celebrity Ink Autographs Limited

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

2

Accounting policies (continued)

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.

Stocks

Stocks are stated at the lower of cost and net realisable value, being estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on each autographed item basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

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.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision in the Balance sheet.

 

Celebrity Ink Autographs Limited

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

2

Accounting policies (continued)

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

4

Stocks

2023
£

2022
£

Other inventories

102,387

126,218

5

Debtors

Current

2023
£

2022
£

Prepayments

1,283

-

Other debtors

1,691

3,553

 

2,974

3,553

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,430

2,975

Taxation and social security

17,415

25,258

Accruals and deferred income

1,535

1,490

21,380

29,723

 

Celebrity Ink Autographs Limited

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

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

       

8

Related party transactions

Transactions with directors

D L Finn and S J Finn operate a partnership Incognito Comics. The Company paid shipping expenses amounting to £ Nil (2022: £ 108), for stock purchases of £1,781 (2022: £703) and £54 (2022: £ Nil) computer costs to Incognito Comics during the year. No amounts were outstanding at the year end.

J Joiner owns a company Showmasters Limited. During the year the Company paid for stock purchases to Showmasters Limited £ Nil (2022: stock purchases of £Nil). No amounts were outstanding at the year end.