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REGISTERED NUMBER: SC622279 (Scotland)
















Unaudited Financial Statements

for the Period 1 March 2023 to 31 January 2024

for

Continental Marketplace Ltd

Continental Marketplace Ltd (Registered number: SC622279)






Contents of the Financial Statements
for the Period 1 March 2023 to 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Continental Marketplace Ltd

Company Information
for the Period 1 March 2023 to 31 January 2024







DIRECTORS: Mrs L J Connelly
Mrs S J Taylor
M T Taylor
M R Taylor





REGISTERED OFFICE: Strathclyde Country Park
Hamilton Road
Motherwell
ML1 3RT





REGISTERED NUMBER: SC622279 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
147 Bath Street
Glasgow
G2 4SN

Continental Marketplace Ltd (Registered number: SC622279)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 555,529 600,143

CURRENT ASSETS
Debtors 5 621,809 899,947
Cash at bank and in hand 19,735 113,973
641,544 1,013,920
CREDITORS
Amounts falling due within one year 6 312,947 464,213
NET CURRENT ASSETS 328,597 549,707
TOTAL ASSETS LESS CURRENT
LIABILITIES

884,126

1,149,850

CREDITORS
Amounts falling due after more than one
year

7

393,748

544,161
NET ASSETS 490,378 605,689

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 490,078 605,389
490,378 605,689

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 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.

Continental Marketplace Ltd (Registered number: SC622279)

Balance Sheet - continued
31 January 2024


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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2024 and were signed on its behalf by:





M R Taylor - Director


Continental Marketplace Ltd (Registered number: SC622279)

Notes to the Financial Statements
for the Period 1 March 2023 to 31 January 2024

1. STATUTORY INFORMATION

Continental Marketplace Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

This is the first year in which the financial statements are required to be prepared in line with FRS 102 section 1A - previous years were prepared under the micro entity regime. In the opinion of the directors, there are no significant or material adjustments required as a result of this transition.

Going concern
The financial statements are prepared on the going concern basis of accounting as, in the opinion of the directors, there are no matters of material uncertainty which cast doubt on the company's ability to continue.

Significant judgements and estimates
The directors have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The directors' estimates, assumptions and judgements that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Turnover
Turnover represents net sales of goods and services, excluding value added tax, and recognised when the company becomes entitled to the income.

Financial instruments
The company has no complex financial instruments but does hold basic financial instruments of: cash at bank, debtors, and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft would be shown within current liabilities.

Debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effect of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 6.67% on cost


Continental Marketplace Ltd (Registered number: SC622279)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 31 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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
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 period 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Employment benefits
The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the profit and loss account in the period to which they relate.

Provision for liabilities
A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2023 - NIL).

Continental Marketplace Ltd (Registered number: SC622279)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 31 January 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 31 January 2024 669,213
DEPRECIATION
At 1 March 2023 69,070
Charge for period 44,614
At 31 January 2024 113,684
NET BOOK VALUE
At 31 January 2024 555,529
At 28 February 2023 600,143

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 March 2023
and 31 January 2024 541,161
DEPRECIATION
At 1 March 2023 67,140
Charge for period 36,077
At 31 January 2024 103,217
NET BOOK VALUE
At 31 January 2024 437,944
At 28 February 2023 474,021

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 102,532 7,740
Amounts owed by group undertakings 500,246 887,813
Other debtors 19,031 4,394
621,809 899,947

Continental Marketplace Ltd (Registered number: SC622279)

Notes to the Financial Statements - continued
for the Period 1 March 2023 to 31 January 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,008 12,844
Hire purchase contracts 153,968 153,968
Trade creditors 86,345 40,234
Taxation and social security 41,045 218,486
Other creditors 17,581 38,681
312,947 464,213

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 27,941 40,831
Hire purchase contracts 365,807 503,330
393,748 544,161

8. OTHER FINANCIAL COMMITMENTS

The hire purchase liabilities are secured over the assets to which they relate, along with a personal guarantee provided by M R Taylor, a director of the company.

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Lochview Theme Park (Scotland) Ltd and Bizarre Bar Ltd are considered related parties by virtue of the control exerted over both entities by the same individuals. Amounts owed by group undertakings as shown in the notes to the accounts relate to loans advanced by the company to these related parties, regarded as interest free and repayable on demand. Movements in the year relate loan repayments, along with expenses incurred by the company on behalf of both related parties, together with income received by the other companies which relates to trading by Continental Marketplace Ltd.

10. ULTIMATE CONTROLLING PARTY

The issued share capital is split equally between six shareholders, with those shares carrying equal rights with respect to voting, dividends and distributions. Consequently, the directors consider that there is no ultimate controlling party.