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REGISTERED NUMBER: 04339420 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CIRCULAR PICTURES LTD

CIRCULAR PICTURES LTD (REGISTERED NUMBER: 04339420)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Balance sheet 1

Notes to the financial statements 2


CIRCULAR PICTURES LTD (REGISTERED NUMBER: 04339420)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,227 1,058

Current assets
Stocks - 8,385
Debtors 5 248 2,354
Cash at bank 31,036 23,805
31,284 34,544
Creditors
Amounts falling due within one year 6 7,983 13,705
Net current assets 23,301 20,839
Total assets less current liabilities 26,528 21,897

Provisions for liabilities 7 613 201
Net assets 25,915 21,696

Capital and reserves
Called up share capital 8 2 2
Retained earnings 25,913 21,694
Shareholders' funds 25,915 21,696

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of comprehensive income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





Ms B Pickwick-Ive - Director


CIRCULAR PICTURES LTD (REGISTERED NUMBER: 04339420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. Statutory information

Circular Pictures Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 04339420. The registered office is 7 & 8 Church Street, Wimborne, Dorset, BH21 1JH and business address is 116 Paisley Road, Southbourne, Bournemouth, Dorset, BH6 5EE.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts receivable, excluding value added tax, in respect of services provided in the ordinary course of business. Turnover is recognised when the service has been provided to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stock and Work In Progress are valued at the lower of cost and net realisable value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

CIRCULAR PICTURES LTD (REGISTERED NUMBER: 04339420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 January 2023 17,039 2,707 4,388 24,134
Additions 2,805 - 495 3,300
At 31 December 2023 19,844 2,707 4,883 27,434
Depreciation
At 1 January 2023 16,111 2,577 4,388 23,076
Charge for year 933 33 165 1,131
At 31 December 2023 17,044 2,610 4,553 24,207
Net book value
At 31 December 2023 2,800 97 330 3,227
At 31 December 2022 928 130 - 1,058

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors - 2,112
Prepayments 248 242
248 2,354

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Tax 3,393 7,969
VAT 2,278 3,273
Directors' current accounts 772 997
Accruals and deferred income 1,540 1,466
7,983 13,705

7. Provisions for liabilities
2023 2022
£    £   
Deferred tax 613 201

Deferred
tax
£   
Balance at 1 January 2023 201
Charge to Income statement during year 412
Balance at 31 December 2023 613

CIRCULAR PICTURES LTD (REGISTERED NUMBER: 04339420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 A £1.00 2 2

9. Ultimate controlling party

The directors Ms B Pickwick-Ive and Mr M Adcock, are deemed to control the company, each owning 50% of the issued share capital.