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Registration number: 00340890

Castles (Hull) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Castles (Hull) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Castles (Hull) Limited

Company Information

Directors

DJ Rosenberg

DJ Rosenberg

Company secretary

DJ Rosenberg

Registered office

Swiss Cottage
49 Molescroft Road
Beverley
Hull
East Yorkshire
HU17 7EG

 

Castles (Hull) Limited

(Registration number: 00340890)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

22

1,724

Cash at bank and in hand

 

1,394

192,619

 

1,416

194,343

Creditors: Amounts falling due within one year

5

(1,200)

(154,312)

Net assets

 

216

40,031

Capital and reserves

 

Called up share capital

17,300

17,300

Retained earnings

(17,084)

22,731

Shareholders' funds

 

216

40,031

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 Directors acknowledge their 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.

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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 

.........................................
DJ Rosenberg
Company secretary and director

 

Castles (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital incorporated in England & Wales and the company registration number is 00340890.

The address of its registered office is:
Swiss Cottage
49 Molescroft Road
Beverley
Hull
East Yorkshire
HU17 7EG

These financial statements were authorised for issue by the Board on 17 October 2024.

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 have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have not been prepared on a going concern basis as the business ceased to trade on 30th April 2023 and did not trade in the current year.

Revenue recognition

Turnover arises from the sale of furniture. Turnover is measured at the fair value of the consideration received or receivable and represents amounts for the sale of goods in the normal course of business, net of discounts and other sales-related taxes.

Turnover from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, which is when the goods are delivered to the customer.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met of each of the companies activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

 

Castles (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

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.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 1 (2023 - 6).

4

Debtors

2024
£

2023
£

Other debtors

22

1,724

22

1,724

 

Castles (Hull) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

-

89,600

Taxation and social security

 

-

38,611

Accruals and deferred income

 

1,200

5,579

Other creditors

 

-

20,522

 

1,200

154,312

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Other borrowings

-

89,600


Other borrowings relate to an unsecured directors loan.

7

Related party transactions

Directors' remuneration

The Directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

-

40,864

Contributions paid to money purchase schemes

-

7,500

-

48,364

Other transactions with Directors

At the year end, the company owed the director £Nil (2023: £89,600). This amount is unsecured and repayable on demand. Interest is accrued annually at 2.25%.