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Registration number: 01622538

The Camel Trading Company Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2024

 

The Camel Trading Company Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

The Camel Trading Company Limited

(Registration number: 01622538)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

119

159

Investment property

5

120,000

120,000

 

120,119

120,159

Current assets

 

Debtors

7

1,000

1,139

Investments

8

29,737

12,387

Other financial assets

6

1,082,515

888,121

Cash at bank and in hand

 

18,624

63,849

 

1,131,876

965,496

Creditors: Amounts falling due within one year

9

(602,030)

(605,722)

Net current assets

 

529,846

359,774

Net assets

 

649,965

479,933

Capital and reserves

 

Called up share capital

100

100

Share premium reserve

194,648

194,648

Retained earnings

455,217

285,185

Shareholders' funds

 

649,965

479,933

For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

 

The Camel Trading Company Limited

(Registration number: 01622538)
Balance Sheet as at 31 May 2024

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 9 October 2024
 

A J Fishleigh
Director

   
     
 

The Camel Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Motivo House
Alvington
Yeovil
Somerset
BA20 2FG

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.

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

Going concern

The financial statements have been prepared on a going concern basis.

Tax

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.

Tangible assets

Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

 

The Camel Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Current asset investments are included at the lower of cost and net realisable value.

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.

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.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2023 - 2).

 

The Camel Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Plant and machinery
£

Total
£

Cost or valuation

At 1 June 2023

1,648

1,648

At 31 May 2024

1,648

1,648

Depreciation

At 1 June 2023

1,489

1,489

Charge for the year

40

40

At 31 May 2024

1,529

1,529

Carrying amount

At 31 May 2024

119

119

At 31 May 2023

159

159

5

Investment properties

2024
£

At 1 June 2023

120,000

At 31 May 2024

120,000

The property was revalued by independent valuers on 17 March 2023.

 

The Camel Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 June 2023

888,121

888,121

Fair value adjustments

194,394

194,394

At 31 May 2024

1,082,515

1,082,515

Carrying amount

At 31 May 2024

1,082,515

1,082,515

At 31 May 2023

888,121

888,121

7

Debtors

2024
£

2023
£

Other debtors

1,000

1,000

Prepayments

-

139

1,000

1,139

8

Current asset investments

2024
£

2023
£

Other investments

29,737

12,387

9

Creditors

Due within one year

2024
£

2023
£

Other creditors

597,483

601,488

Accruals

4,547

4,234

602,030

605,722

 

The Camel Trading Company Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

10

Related party transactions

2024

At 1 June 2023
£

Advances
£

At 31 May 2024
£

601,488

(4,005)

597,483

2023

At 1 June 2022
£

Advances
£

At 31 May 2023
£

604,372

(2,884)

601,488

The loan is interest free and repayable on demand.