Registered number
12415246
CENTRAL CITY SPIRITS LTD
Filleted Accounts
31 January 2024
CENTRAL CITY SPIRITS LTD
Registered number: 12415246
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 37,389 48,340
Current assets
Stocks 148,328 141,064
Debtors 4 8,005 7,500
Cash at bank and in hand 3,674 6,694
160,007 155,258
Creditors: amounts falling due within one year 5 (99,802) (81,763)
Net current assets 60,205 73,495
Total assets less current liabilities 97,594 121,835
Creditors: amounts falling due after more than one year 6 (43,505) (54,317)
Provisions for liabilities (5,467) (7,101)
Net assets 48,622 60,417
Capital and reserves
Called up share capital 1 1
Profit and loss account 48,621 60,416
Shareholders' funds 48,622 60,417
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Patrick Dominic Kaczmarczyk
Director
Approved by the board on 30 October 2024
CENTRAL CITY SPIRITS LTD
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are recognised at transaction price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Current tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 11,750 43,005 54,755
At 31 January 2024 11,750 43,005 54,755
Depreciation
At 1 February 2023 783 5,632 6,415
Charge for the year 2,350 8,601 10,951
At 31 January 2024 3,133 14,233 17,366
Net book value
At 31 January 2024 8,617 28,772 37,389
At 31 January 2023 10,967 37,373 48,340
4 Debtors 2024 2023
£ £
Other debtors 8,005 7,500
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,300 6,300
Obligations under finance lease and hire purchase contracts 12,112 12,112
Trade creditors 12,225 3,792
Taxation and social security costs 24,041 20,388
Other creditors, loans from director 45,124 39,171
99,802 81,763
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,304 24,140
Obligations under finance lease and hire purchase contracts 21,201 30,177
43,505 54,317
7 Other information
CENTRAL CITY SPIRITS LTD is a private company limited by shares and incorporated in England. Its registered office is:
69 Swyncombe Avenue
London
W5 4DR
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