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COMPANY REGISTRATION NUMBER: 04371739
Cullinan Diamonds UK Limited
Filleted Unaudited Financial Statements
29 February 2024
Cullinan Diamonds UK Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Current assets
Stocks
8,200
9,400
Debtors
5
1,342
1,640
Cash at bank and in hand
13,902
21
--------
--------
23,444
11,061
Creditors: amounts falling due within one year
6
161,552
136,424
---------
---------
Net current liabilities
138,108
125,363
---------
---------
Total assets less current liabilities
( 138,108)
( 125,363)
---------
---------
Net liabilities
( 138,108)
( 125,363)
---------
---------
Capital and reserves
Called up share capital
2
2
Profit and loss account
( 138,110)
( 125,365)
---------
---------
Shareholders deficit
( 138,108)
( 125,363)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
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.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 November 2024 , and are signed on behalf of the board by:
Mr Mark Ronald Cullinan
Director
Company registration number: 04371739
Cullinan Diamonds UK Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4th Floor, 58-59 Great Marlborough Street, London, W1F 7JY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on the going concern basis, on the understanding that the directors and shareholders will provide continuing support to the company during this uncertain period.
Revenue recognition
There are no sales due to stock produced for the company unavailable for sale due to Covid lockdown and travel restrictions in Hong Kong.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2023: 1 ).
5. Debtors
2024
2023
£
£
Other debtors
1,342
1,640
-------
-------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Social security and other taxes
2,262
Other creditors
159,290
136,424
---------
---------
161,552
136,424
---------
---------
Other creditors includes directors loan of £158,190 (2023: £126,784).
7. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8.