26 01/03/2023 28/02/2024 2024-02-28 false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2023-03-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 03708527 2023-03-01 2024-02-28 03708527 2024-02-28 03708527 2023-02-28 03708527 2022-03-01 2023-02-28 03708527 2023-02-28 03708527 2022-02-28 03708527 core:PlantMachinery 2023-03-01 2024-02-28 03708527 core:FurnitureFittingsToolsEquipment 2023-03-01 2024-02-28 03708527 bus:Director1 2023-03-01 2024-02-28 03708527 bus:Director2 2023-03-01 2024-02-28 03708527 core:PlantMachinery 2023-02-28 03708527 core:FurnitureFittingsToolsEquipment 2023-02-28 03708527 core:MotorVehicles 2023-02-28 03708527 core:LandBuildings core:ShortLeaseholdAssets 2024-02-28 03708527 core:PlantMachinery 2024-02-28 03708527 core:FurnitureFittingsToolsEquipment 2024-02-28 03708527 core:MotorVehicles 2024-02-28 03708527 core:WithinOneYear 2024-02-28 03708527 core:WithinOneYear 2023-02-28 03708527 core:AfterOneYear 2024-02-28 03708527 core:AfterOneYear 2023-02-28 03708527 core:LandBuildings core:ShortLeaseholdAssets 2023-03-01 2024-02-28 03708527 core:MotorVehicles 2023-03-01 2024-02-28 03708527 core:ShareCapital 2024-02-28 03708527 core:ShareCapital 2023-02-28 03708527 core:RetainedEarningsAccumulatedLosses 2024-02-28 03708527 core:RetainedEarningsAccumulatedLosses 2023-02-28 03708527 core:PlantMachinery 2023-02-28 03708527 core:FurnitureFittingsToolsEquipment 2023-02-28 03708527 core:MotorVehicles 2023-02-28 03708527 bus:Director1 2024-02-28 03708527 bus:Director2 2023-02-28 03708527 bus:Director2 2022-02-28 03708527 bus:Director2 2023-02-28 03708527 bus:Director2 2022-03-01 2023-02-28 03708527 bus:SmallEntities 2023-03-01 2024-02-28 03708527 bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 03708527 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 03708527 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 03708527 bus:FullAccounts 2023-03-01 2024-02-28
Company registration number: 03708527
CTC Europe.com Limited
Unaudited filleted financial statements
28 February 2024
CTC Europe.com Limited
Contents
Statement of financial position
Notes to the financial statements
CTC Europe.com Limited
Statement of financial position
28 February 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 1,019,867 576,007
_______ _______
1,019,867 576,007
Current assets
Debtors 6 2,650,824 859,633
Cash at bank and in hand 227,305 609,233
_______ _______
2,878,129 1,468,866
Creditors: amounts falling due
within one year 7 ( 845,608) ( 395,892)
_______ _______
Net current assets 2,032,521 1,072,974
_______ _______
Total assets less current liabilities 3,052,388 1,648,981
Creditors: amounts falling due
after more than one year 8 ( 1,166,559) ( 68,672)
Provisions for liabilities ( 180,136) ( 101,258)
_______ _______
Net assets 1,705,693 1,479,051
_______ _______
Capital and reserves
Called up share capital 3 3
Profit and loss account 1,705,690 1,479,048
_______ _______
Shareholders funds 1,705,693 1,479,051
_______ _______
For the year ending 28 February 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 22 October 2024 , and are signed on behalf of the board by:
Mr A Greenhalgh
Director
Company registration number: 03708527
CTC Europe.com Limited
Notes to the financial statements
Year ended 28 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 Rear of Duplo Building, Units A & B, Hamm Moor Lane, Addlestone, Surrey KT15 2SD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % straight line
Fittings fixtures and equipment - 10 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 26 (2023: 23 ).
5. Tangible assets
Short leasehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £ £
Cost
At 1 March 2023 - 1,540,968 151,082 87,215 1,779,265
Additions 33,894 535,110 8,237 119,264 696,505
Disposals - ( 28,565) - ( 9,500) ( 38,065)
_______ _______ _______ _______ _______
At 28 February 2024 33,894 2,047,513 159,319 196,979 2,437,705
_______ _______ _______ _______ _______
Depreciation
At 1 March 2023 - 1,050,760 118,616 33,882 1,203,258
Charge for the year - 210,817 14,729 24,724 250,270
Disposals - ( 28,565) - ( 7,125) ( 35,690)
_______ _______ _______ _______ _______
At 28 February 2024 - 1,233,012 133,345 51,481 1,417,838
_______ _______ _______ _______ _______
Carrying amount
At 28 February 2024 33,894 814,501 25,974 145,498 1,019,867
_______ _______ _______ _______ _______
At 28 February 2023 - 490,208 32,466 53,333 576,007
_______ _______ _______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 724,116 730,856
Other debtors 1,926,708 128,777
_______ _______
2,650,824 859,633
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 298,316 137,681
Corporation tax ( 63) 78,289
Social security and other taxes 57,395 100,265
Other creditors 489,960 79,657
_______ _______
845,608 395,892
_______ _______
8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Other creditors 1,166,559 68,672
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr A Greenhalgh - 41,586 41,586
Mr A D J Greenhalgh 58,459 ( 58,459) -
_______ _______ _______
58,459 ( 16,873) 41,586
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr A Greenhalgh - - -
Mr A D J Greenhalgh ( 8,897) 67,356 58,459
_______ _______ _______