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Registration number: 06289781

Croydon Enterprise Agency Ltd

Filleted Abridged Financial Statements

for the Year Ended 30 April 2024

 

Croydon Enterprise Agency Ltd

Contents

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Abridged Financial Statements

3 to 7

 

Croydon Enterprise Agency Ltd

Company Information

Chairman

P A Taylor

Director

Ms S Saunders

Registered office

Weatherill House
New South Quarter
23 Whitestone Way
Croydon
CR0 4WF

Auditors

DSK Partners LLP
Chartered Accountants and Statutory AuditorsD S House
306 High Street
Croydon
Surrey
CR0 1NG

 

Croydon Enterprise Agency Ltd

(Registration number: 06289781)
Abridged Statement of Financial Position as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

6

482,014

84,231

Current assets

 

Debtors

45,487

44,474

Cash at bank and in hand

 

51,533

62,653

 

97,020

107,127

Prepayments and accrued income

 

40,401

23,050

Creditors: Amounts falling due within one year

(226,162)

(122,578)

Net current (liabilities)/assets

 

(88,741)

7,599

Total assets less current liabilities

 

393,273

91,830

Creditors: Amounts falling due after more than one year

(306,564)

-

Accruals and deferred income

 

(2,160)

(7,281)

Net assets

 

84,549

84,549

Capital and reserves

 

Called up share capital

25

25

Retained earnings

84,524

84,524

Shareholders' funds

 

84,549

84,549

All of the company’s members have consented to the preparation of an Abridged Statement of Financial Position in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been prepared and 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 director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 4 December 2024
 

P A Taylor
Chairman

   
     
 

Croydon Enterprise Agency Ltd

Notes to the Abridged 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 and Wales.

The address of its registered office is:
Weatherill House
New South Quarter
23 Whitestone Way
Croydon
CR0 4WF

These financial statements were authorised for issue by the director on 4 December 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 abridged 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 abridged 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 presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Sponsorship income

Sponsorship income is credited to the income and expenditure account on a receivable basis.

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.

 

Croydon Enterprise Agency Ltd

Notes to the Abridged Financial Statements for the Year Ended 30 April 2024 (continued)

2

Accounting policies (continued)

Deferred Tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

25% pa on a reducing balance basis

Short leasehold

Straight line basis over the life of the lease

Plant and machinery

25% pa on a reducing balance basis

Computer equipment

33% pa on a straight line basis

Creative Digital Lab equipment

25% pa on a reducing balance basis

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 the director) during the year, was 0 (2023 - 0).

Staff costs are recharged from the controlling party, Croydon Business Venture Limited. Croydon Enterprise Agency does not employ any staff.

 

Croydon Enterprise Agency Ltd

Notes to the Abridged Financial Statements for the Year Ended 30 April 2024 (continued)

4

Auditors' remuneration

2024
£

2023
£

Audit of the financial statements

1,588

1,275


 

5

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

79,976

35,590

 

Croydon Enterprise Agency Ltd

Notes to the Abridged Financial Statements for the Year Ended 30 April 2024 (continued)

6

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Creative Digital Lab Equipment
£

Total
£

Cost or valuation

At 1 May 2023

241,405

322,017

-

563,422

Additions

-

7,451

470,811

478,262

Disposals

-

(928)

-

(928)

At 30 April 2024

241,405

328,540

470,811

1,040,756

Depreciation

At 1 May 2023

190,575

288,616

-

479,191

Charge for the year

15,446

15,828

48,702

79,976

Eliminated on disposal

-

(425)

-

(425)

At 30 April 2024

206,021

304,019

48,702

558,742

Carrying amount

At 30 April 2024

35,384

24,521

422,109

482,014

At 30 April 2023

50,830

33,401

-

84,231

7

Disclosure under section 444(5B) of the Companies Act 2006

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 4 December 2024 was Dhiraj Shah (FCA), who signed for and on behalf of DSK Partners LLP.

.........................................

 

Croydon Enterprise Agency Ltd

Notes to the Abridged Financial Statements for the Year Ended 30 April 2024 (continued)

8

Ultimate parent company

The ultimate parent company is Croydon Business Venture Limited, a company registered in Great Britain. The parent undertaking registered office is Weatherhill House, New South Quarter, 23 Whitestone Way, Croydon, Surrey CR0 4WF.

The consolidated financial statements for the group are available to the public and may be obtained from Companies House (England and Wales) as well as from the address of the parent undertaking above.

Ultimate controlling party
No individual or group of individuals acting together control 50% or more of the company or its ultimate parent undertaking.