Registered number
12428858
CELTONIC LTD
Filleted Accounts
31 January 2024
CELTONIC LTD
Registered number: 12428858
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Current assets
Debtors 3 523 523
Cash at bank and in hand 16,258 21,057
16,781 21,580
Creditors: amounts falling due within one year 4 (18,905) (20,824)
Net current (liabilities)/assets (2,124) 756
Net (liabilities)/assets (2,124) 756
Capital and reserves
Called up share capital 20 20
Profit and loss account (2,144) 736
Shareholders' funds (2,124) 756
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.
Grant Noble
Director
Approved by the board on 25 October 2024
CELTONIC 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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, 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 initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and 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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 4
3 Debtors 2024 2023
£ £
Other debtors 523 523
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 951 (430)
Director's loan accounts 17,954 21,254
18,905 20,824
5 Controlling party
The ultimate controlling parties during the period: Grant Noble, Leon Rawlinson, Adam Rawlinson,Lewis Sephton
Each hold 25% of the issued voting share capital and are deemed the ultimate controlling parties.
6 Other information
CELTONIC LTD is a private company limited by shares and incorporated in England. Its registered office is:
The Bristol Office, 2nd Floor
5 High Street
Westbury On Trym
Bristol
BS9 3BY
CELTONIC LTD 12428858 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 Grant Noble No description of principal activity 12428858 2022-02-01 2023-01-31 12428858 core:WithinOneYear 2023-01-31 12428858 core:ShareCapital 2023-01-31 12428858 core:RetainedEarningsAccumulatedLosses 2023-01-31 12428858 2023-02-01 2024-01-31 12428858 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12428858 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 12428858 bus:Director40 2023-02-01 2024-01-31 12428858 1 2023-02-01 2024-01-31 12428858 2 2023-02-01 2024-01-31 12428858 countries:England 2023-02-01 2024-01-31 12428858 bus:FRS102 2023-02-01 2024-01-31 12428858 bus:FilletedAccounts 2023-02-01 2024-01-31 12428858 2024-01-31 12428858 core:WithinOneYear 2024-01-31 12428858 core:ShareCapital 2024-01-31 12428858 core:RetainedEarningsAccumulatedLosses 2024-01-31 12428858 2023-01-31 iso4217:GBP xbrli:pure