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COMPANY REGISTRATION NUMBER: 07020456
Circa Group Limited
Filleted Unaudited Accounts
31 December 2023
Circa Group Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
6,342
7,948
Investments
6
9,052
9,052
--------
--------
15,394
17,000
Current assets
Debtors
7
780,659
391,166
Cash at bank and in hand
113,611
41,978
---------
---------
894,270
433,144
Creditors: amounts falling due within one year
8
( 696,269)
( 244,705)
---------
---------
Net current assets
198,001
188,439
---------
---------
Total assets less current liabilities
213,395
205,439
Creditors: amounts falling due after more than one year
9
( 30,182)
( 35,777)
---------
---------
Net assets
183,213
169,662
---------
---------
Capital and reserves
Called up share capital
100
100
Capital redemption reserve
100
100
Profit and loss account
183,013
169,462
---------
---------
Shareholder funds
183,213
169,662
---------
---------
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts .
Circa Group Limited
Statement of Financial Position (continued)
31 December 2023
These accounts were approved by the board of directors and authorised for issue on 25 September 2024 , and are signed on behalf of the board by:
Mrs V K Roe
Director
Company registration number: 07020456
Circa Group Limited
Notes to the Accounts
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Linden Gardens, Tunbridge Wells, TN2 5QT.
2. Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated accounts contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Computer equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Tangible assets
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 January 2023
6,743
7,327
14,070
Additions
864
864
-------
-------
--------
At 31 December 2023
6,743
8,191
14,934
-------
-------
--------
Depreciation
At 1 January 2023
2,743
3,379
6,122
Charge for the year
1,000
1,470
2,470
-------
-------
--------
At 31 December 2023
3,743
4,849
8,592
-------
-------
--------
Carrying amount
At 31 December 2023
3,000
3,342
6,342
-------
-------
--------
At 31 December 2022
4,000
3,948
7,948
-------
-------
--------
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
100,025
---------
Impairment
At 1 January 2023 and 31 December 2023
90,973
---------
Carrying amount
At 31 December 2023
9,052
---------
At 31 December 2022
9,052
---------
The company owns 100% of the issued share capital of its subsidiary, Symmetry Events Ltd, a company that has not traded since April 2010 and in all respects is regarded as dormant. The subsidiary company reports no trading activity in the current year and holds net assets of £30,000.
Since the last investment review in 2014, where the director decided that an impairment charge was required to reflect the reduction in value of the investment in Symmetry Events Ltd together with the corresponding loan existing between the two parties, no further impairment has been considered necessary.
Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.
7. Debtors
2023
2022
£
£
Trade debtors
438,506
327,490
Other debtors
342,153
63,676
---------
---------
780,659
391,166
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,629
Trade creditors
99,020
53,919
Amounts owed to group undertakings and undertakings in which the company has a participating interest
30,000
30,000
Corporation tax
21,649
8,490
Social security and other taxes
15,253
30,393
Other creditors
530,347
116,274
---------
---------
696,269
244,705
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,182
35,777
--------
--------
10. Related party transactions
During the year the company has incurred expenses on behalf of connected companies of whom V Roe, the director and shareholder of Circa Group Limited , is also a director and shareholder. At the year end the company was owed £17,506 (2021: £15,006) by the connected companies.