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Registered number: 08474897









CONTRACTUAL LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 DECEMBER 2023

 
CONTRACTUAL LIMITED
REGISTERED NUMBER: 08474897

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

31 December
31 March
2023
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
4,296,700
2,713,196

Cash at bank and in hand
 5 
20,175
-

  
4,316,875
2,713,196

Creditors: amounts falling due within one year
 6 
(3,491,381)
(1,972,882)

Net current assets
  
 
 
825,494
 
 
740,314

Total assets less current liabilities
  
825,494
740,314

  

Net assets
  
825,494
740,314


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
825,394
740,214

  
825,494
740,314


Page 1

 
CONTRACTUAL LIMITED
REGISTERED NUMBER: 08474897
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 28 November 2024.




B Edgar
Director

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 
CONTRACTUAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

1.


General information

Contractual Limited is a private company, limited by shares and incorporated in England & Wales (registered number: 08474897). The registered office address is 73 Maygrove Road, London, United Kingdom, NW6 2EG.
The financial statements are presented in Sterling, which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
CONTRACTUAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable 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.

 
2.6

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.

 
2.7

Creditors

Short-term 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.


3.


Employees

The average monthly number of employees, including directors, during the period was 3 (2023 - 4).


4.


Debtors

31 December
31 March
2023
2023
£
£


Trade debtors
1,829,807
171,163

Amounts owed by group undertakings
2,394,436
2,534,693

Other debtors
5,307
2,340

Prepayments and accrued income
67,150
5,000
Page 4

 
CONTRACTUAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

4.Debtors (continued)


4,296,700
2,713,196



5.


Cash and cash equivalents

31 December
31 March
2023
2023
£
£

Cash at bank and in hand
20,175
-

20,175
-



6.


Creditors: Amounts falling due within one year

31 December
31 March
2023
2023
£
£

Trade creditors
579,800
560,299

Amounts owed to group undertakings
2,899,274
1,401,014

Other taxation and social security
-
4,454

Other creditors
8,107
-

Accruals and deferred income
4,200
7,115

3,491,381
1,972,882



7.


Controlling party

The immediate parent company is Interland Residential Holdings Limited, a company registered in England and Wales.


8.


Auditors' information

The auditors' report on the financial statements for the period ended 31 December 2023 was unqualified.

The audit report was signed on 28 November 2024 by Nicholas Newman (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 5