Registered number
09353201
The Lost in Translation Circus Limited
Unaudited Filleted Accounts
31 December 2023
The Lost in Translation Circus Limited Registered number: 09353201
Balance Sheet
As at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 10,021 19,677
Current assets
Debtors 4 9,425 42,440
Cash at bank and in hand 262,540 230,084
271,965 272,524
Creditors: amounts falling due within one year 5 (77,827) (102,077)
Net current liabilities 194,138 170,447
Total assets less current liabilities 204,159 190,124
Creditors: amounts falling due after more than one year 6 (7,933) (13,533)
Provisions for liabilities (1,904) (2,839)
Net assets 194,322 173,752
Capital and reserves
Profit and loss account 194,322 173,752
Shareholder's funds 194,322 173,752
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Annabel Carberry
Director
Approved by the board on 18 September 2024
The Lost in Translation Circus Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 January 2023 105,261
Additions 998
Disposals (19,275)
At 31 December 2023 86,984
Depreciation
At 1 January 2023 85,584
Charge for the year 10,069
On disposals (18,690)
At 31 December 2023 76,963
Net book value
At 31 December 2023 10,021
At 31 December 2022 19,677
4 Debtors 2023 2022
£ £
Trade debtors 3,160 24,240
Corporation tax - 7,373
Other taxes and social security costs 1,885 -
Other debtors 4,380 10,827
9,425 42,440
Amounts due after more than one year included above 2,500 2,500
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 5,600 4,750
Trade creditors - 18,349
Corporation tax 6,035 -
Other taxes and social security costs - 529
Other creditors 66,192 78,449
77,827 102,077
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 7,933 13,533
7 Government grants
The company received £Nil (2022 - £73,429) in grants during the year.
6 Related party transactions
The company owed Massimiliano Rossetti, director £10,773 (2022 - £21,685) and Annabel Carberry, director £18,263 (2022 - £18,263) at the year-end. These amounts are included in other creditors in the accounts. Interest is being charged at 7% and they are repayable on demand.
7 Limited by Guarantee
The company is limited by guarantee and does not have a share capital. Every member undertakes to contribute to the assets of the company in the event of it being wound up while he is a member or within one year thereafter for payment of the debts and liabilities of the company contracted before he ceases to be a member and the costs, charges and expenses of winding up and for the adjustment of the rights of the contributories among themselves such amount as may be required not exceeding £1.
8 Other information
The Lost in Translation Circus Limited is a private company limited by guarantee and incorporated in England. Its registered office is:
The Oak Circus Centre
St Michael's Coslany Church
Oak Street
Norwich
NR3 3AE
The Lost in Translation Circus Limited 09353201 false 2023-01-01 2023-12-31 2023-12-31 VT Final Accounts July 2024 Annabel Carberry No description of principal activity 09353201 2022-01-01 2022-12-31 09353201 core:WithinOneYear 2022-12-31 09353201 core:AfterOneYear 2022-12-31 09353201 core:RetainedEarningsAccumulatedLosses 2022-12-31 09353201 2023-01-01 2023-12-31 09353201 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09353201 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09353201 bus:Director40 2023-01-01 2023-12-31 09353201 1 2023-01-01 2023-12-31 09353201 2 2023-01-01 2023-12-31 09353201 core:PlantMachinery 2023-01-01 2023-12-31 09353201 countries:England 2023-01-01 2023-12-31 09353201 bus:FRS102 2023-01-01 2023-12-31 09353201 bus:FilletedAccounts 2023-01-01 2023-12-31 09353201 2023-12-31 09353201 core:WithinOneYear 2023-12-31 09353201 core:AfterOneYear 2023-12-31 09353201 core:RetainedEarningsAccumulatedLosses 2023-12-31 09353201 core:PlantMachinery 2023-12-31 09353201 2022-12-31 09353201 core:PlantMachinery 2022-12-31 iso4217:GBP xbrli:pure