Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-312022-11-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01953143 2022-11-01 2023-10-31 01953143 2021-11-01 2022-10-31 01953143 2023-10-31 01953143 2022-10-31 01953143 c:CompanySecretary1 2022-11-01 2023-10-31 01953143 c:Director1 2022-11-01 2023-10-31 01953143 c:RegisteredOffice 2022-11-01 2023-10-31 01953143 d:CurrentFinancialInstruments 2023-10-31 01953143 d:CurrentFinancialInstruments 2022-10-31 01953143 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01953143 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 01953143 d:ShareCapital 2023-10-31 01953143 d:ShareCapital 2022-10-31 01953143 d:RetainedEarningsAccumulatedLosses 2023-10-31 01953143 d:RetainedEarningsAccumulatedLosses 2022-10-31 01953143 c:FRS102 2022-11-01 2023-10-31 01953143 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 01953143 c:FullAccounts 2022-11-01 2023-10-31 01953143 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 01953143 d:EntityControlledByKeyManagementPersonnel1 2022-11-01 2023-10-31 01953143 d:EntityControlledByKeyManagementPersonnel1 2023-10-31 01953143 d:EntityControlledByKeyManagementPersonnel1 2022-10-31 01953143 2 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 01953143










CONTEMPORARY BOOKS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
CONTEMPORARY BOOKS LIMITED
 
 
COMPANY INFORMATION


Director
J A W Austin 




Company secretary
P Austin



Registered number
01953143



Registered office
8th Floor
Becket House

36 Old Jewry

London

EC2R 8DD




Accountants
Xeinadin London Limited
Accountants

8th Floor

Becket House

36 Old Jewry

London

EC2R 8DD





 
CONTEMPORARY BOOKS LIMITED
 

CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5

 
CONTEMPORARY BOOKS LIMITED
REGISTERED NUMBER: 01953143

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
98,690
61,882

Debtors: amounts falling due within one year
 4 
22,641
6,344

Cash at bank and in hand
  
91,655
132,053

  
212,986
200,279

Creditors: amounts falling due within one year
 5 
(23,078)
(7,451)

Net current assets
  
 
 
189,908
 
 
192,828

Total assets less current liabilities
  
189,908
192,828

  

Net assets
  
189,908
192,828


Capital and reserves
  

Called up share capital 
  
379,742
379,742

Profit and loss account
  
(189,834)
(186,914)

  
189,908
192,828


Page 1

 
CONTEMPORARY BOOKS LIMITED
REGISTERED NUMBER: 01953143
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




J A W Austin
Director

Date: 29 October 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
CONTEMPORARY BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Contemporary Books Limited is a private company limited by shares incorporated in England and Wales, United Kingdom. The address of the registered office is given within the Company Information on page 2.
The company's principal activity is the sale of printed books, ceramics, pictures and prints. Given the circumstances of the general uncertainty in the art market, and the director's policy of selling paintings to meet trading and financial obligations as they fall due, the director is of the opinion that the result for the year is satisfactory.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Going concern

The directors have assessed the ability of the company to continue as a going concern and have concluded that company is able to meet its liabilities as they fall due for at least the next twelve months from the date of signing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
CONTEMPORARY BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
CONTEMPORARY BOOKS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
18,392
1,730

Other debtors
2,079
4,614

Prepayments and accrued income
2,170
-

22,641
6,344



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other taxation and social security
5,999
2,733

Other creditors
17,079
4,718

23,078
7,451



6.


Contingent liabilities

Mr J A W Austin has not formally waived a salary entitlement of £5,000. The cumulative liability at the
balance sheet date is £145,000. The director considers that the company would be liable for this amount if a claim was made. At the balance sheet date, no such claim had been made.


7.


Related party transactions

Austin Desmond Fine Art Limited is a company incorporated in England and Wales in which Mr J A W
Austin is a director and shareholder. Austin Desmond Fine Art Limited invoiced the company £15,000 worth of management charges during the year. At the balance sheet date the Company was owed  £13,761 by Austin Desmond Fine Art Limited (2022: owed by Austin Desmond £4,614).
At the year end  £3,718 (2022: £3,718) was owed to J A W Austin. This amount is included within other creditors.


8.


Controlling party

The ultimate controlling party is Mr J A W Austin, by virtue of his shareholding.

 
Page 5