Company Registration No. 10600191 (England and Wales)
Campfire Asset Management Limited
Unaudited accounts
for the year ended 29 February 2024
Campfire Asset Management Limited
Unaudited accounts
Contents
Campfire Asset Management Limited
Company Information
for the year ended 29 February 2024
Director
Paul-Emile Andre
Company Number
10600191 (England and Wales)
Registered Office
A and L
Suite 1-3 Hop Exchange
24 Southwark Street
London
SE1 1TY
England
Accountants
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
Campfire Asset Management Limited
Accountants' report
Accountants' report to the director of Campfire Asset Management Limited on the preparation of the unaudited statutory accounts for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Campfire Asset Management Limited for the year ended
29 February 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Campfire Asset Management Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Campfire Asset Management Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Campfire Asset Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Campfire Asset Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Campfire Asset Management Limited. You consider that Campfire Asset Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Campfire Asset Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Accounts and Legal Consultants Ltd
Suite 1-3, The Hop Exchange
24 Southwark Street
London
SE1 1TY
25 November 2024
Campfire Asset Management Limited
Statement of financial position
as at 29 February 2024
Cash at bank and in hand
7,667
1,176
Creditors: amounts falling due within one year
(83,041)
(97,651)
Net current liabilities
(74,279)
(94,556)
Total assets less current liabilities
(70,590)
(61,525)
Creditors: amounts falling due after more than one year
(107,122)
(91,927)
Net liabilities
(177,712)
(153,452)
Called up share capital
900
900
Share premium
214,703
214,703
Profit and loss account
(393,315)
(369,055)
Shareholders' funds
(177,712)
(153,452)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2024 and were signed on its behalf by
Paul-Emile Andre
Director
Company Registration No. 10600191
Campfire Asset Management Limited
Notes to the Accounts
for the year ended 29 February 2024
Campfire Asset Management Limited is a private company, limited by shares, registered in England and Wales, registration number 10600191. The registered office is A and L, Suite 1-3 Hop Exchange, 24 Southwark Street, London, SE1 1TY, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The accounts have been prepared on the going concern basis, as confirmation has been provided by the Director that they intend to be trading for the foreseeable future and will be funding the business activities personally as an interest free loan, that will not be paid will not be called upon within the next 12 months.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Intangible fixed assets are included at cost less accumulated amortisation. Amortisation has been provided using the straight line method at the following rates in order to write off the assets over their estimated useful lives:
- Website 10%
Campfire Asset Management Limited
Notes to the Accounts
for the year ended 29 February 2024
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% & 33% Straight-line
Computer equipment
33.3% Straight-line
Short term debtors are measured at transaction price, less any impairment. Loans receivables 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.
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.
Short term trade 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.
4
Intangible fixed assets
Other
5
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2023
860
5,112
5,972
At 29 February 2024
860
5,112
5,972
At 1 March 2023
558
4,559
5,117
Charge for the year
145
553
698
At 29 February 2024
703
5,112
5,815
At 29 February 2024
157
-
157
At 28 February 2023
302
553
855
Campfire Asset Management Limited
Notes to the Accounts
for the year ended 29 February 2024
6
Investments
Other investments
Valuation at 1 March 2023
32,176
Valuation at 29 February 2024
3,532
Amounts falling due within one year
8
Creditors: amounts falling due within one year
2024
2023
Taxes and social security
-
(268)
Loans from directors
83,041
97,919
9
Creditors: amounts falling due after more than one year
2024
2023
Other creditors
11,900
11,927
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).