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REGISTERED NUMBER: 06092031 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CIRCUIT GROUP LIMITED

CIRCUIT GROUP LIMITED (REGISTERED NUMBER: 06092031)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CIRCUIT GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: C S Hill
D J Brown
A Hiron





SECRETARY: C S Hill





REGISTERED OFFICE: 28 Aston Road
Waterlooville
Hampshire
PO7 7XJ





REGISTERED NUMBER: 06092031 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

CIRCUIT GROUP LIMITED (REGISTERED NUMBER: 06092031)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investments 4 30,000 30,000
Investment property 5 680,000 -
710,000 30,000

CURRENT ASSETS
Debtors 6 220,000 143,178

CREDITORS
Amounts falling due within one year 7 (868,662 ) (6,840 )
NET CURRENT (LIABILITIES)/ASSETS (648,662 ) 136,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,338

166,338

CAPITAL AND RESERVES
Called up share capital 8 32,688 32,688
Share premium 25,613 25,613
Retained earnings 3,037 108,037
SHAREHOLDERS' FUNDS 61,338 166,338

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 24 September 2024 and were signed on its behalf by:





C S Hill - Director


CIRCUIT GROUP LIMITED (REGISTERED NUMBER: 06092031)

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

1. STATUTORY INFORMATION

Circuit Group Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.


CIRCUIT GROUP LIMITED (REGISTERED NUMBER: 06092031)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 January 2023
and 31 December 2023 30,000
NET BOOK VALUE
At 31 December 2023 30,000
At 31 December 2022 30,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 680,000
At 31 December 2023 680,000
NET BOOK VALUE
At 31 December 2023 680,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings - 123,178
Other debtors 220,000 20,000
220,000 143,178

CIRCUIT GROUP LIMITED (REGISTERED NUMBER: 06092031)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 861,822 -
Other creditors 6,840 6,840
868,662 6,840

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
20,020 Ordinary £1 20,020 20,020
10,000 Ordinary 2 £1 10,000 10,000
2,000 Ordinary 3 £1 2,668 2,668
32,688 32,688

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen James Moore (FCCA) (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd