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REGISTERED NUMBER: 02015792 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024

FOR

CIRCLE SPECIALIST SERVICES LTD

CIRCLE SPECIALIST SERVICES LTD (REGISTERED NUMBER: 02015792)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


CIRCLE SPECIALIST SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: A J Norcott
L Claro
F P Gower-Smith





SECRETARY: E L Ainscough





REGISTERED OFFICE: 118 Holyhead Road
Coventry
CV1 3LY





REGISTERED NUMBER: 02015792 (England and Wales)





ACCOUNTANTS: Clive Shedd & Co
Chartered Accountants
232 Sladepool Farm Road
Birmingham
B14 5EE

CIRCLE SPECIALIST SERVICES LTD (REGISTERED NUMBER: 02015792)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 842,381 779,916

CURRENT ASSETS
Debtors 6 75,075 89,328
Cash at bank 89,225 74,651
164,300 163,979
CREDITORS
Amounts falling due within one year 7 395,544 301,097
NET CURRENT LIABILITIES (231,244 ) (137,118 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

611,137

642,798

CREDITORS
Amounts falling due after more than one
year

8

(440,831

)

(477,518

)

PROVISIONS FOR LIABILITIES (5,160 ) -
NET ASSETS 165,146 165,280

CAPITAL AND RESERVES
Called up share capital 10 100,000 100,000
Retained earnings 65,146 65,280
SHAREHOLDERS' FUNDS 165,146 165,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CIRCLE SPECIALIST SERVICES LTD (REGISTERED NUMBER: 02015792)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





A J Norcott - Director


CIRCLE SPECIALIST SERVICES LTD (REGISTERED NUMBER: 02015792)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Circle Specialist Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The company's functional and presentation currency is the pound sterling, rounded to the nearest £.

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.

Significant judgements and estimates
In preparing these financial statements the company's management make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities at the statement of financial position date and the amounts reported in the income statement for the year under review.

The nature of estimates means that the actual outcome could differ and the company's management consider there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts reported for assets and liabilities within the next financial year.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings-not provided
Plant and machinery etc-15% on reducing balance

The company's practice is to maintain its land and buildings in a continual state of repair and refurbishment such that the residual value is at least equal to its book value. Consequently a depreciation charge is considered to be immaterial.

Tangible fixed assets are initially recorded at cost.

Financial instruments
Basic financial assets and liabilities are initially recognised at transaction price and are subsequently measured at amortised cost.


CIRCLE SPECIALIST SERVICES LTD (REGISTERED NUMBER: 02015792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

3. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

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

Operating lease commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the amount expected to be paid in exchange for that service.

Pension costs and other post-retirement benefits
The company contributes to defined contribution pension schemes for its employees. Contributions payable for the year are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 779,310 1,903 781,213
Additions 14,797 50,737 65,534
At 30 April 2024 794,107 52,640 846,747
DEPRECIATION
At 1 May 2023 - 1,297 1,297
Charge for year - 3,069 3,069
At 30 April 2024 - 4,366 4,366
NET BOOK VALUE
At 30 April 2024 794,107 48,274 842,381
At 30 April 2023 779,310 606 779,916

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 67,358 80,539
Prepayments and accrued income 7,717 8,789
75,075 89,328

CIRCLE SPECIALIST SERVICES LTD (REGISTERED NUMBER: 02015792)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,664 37,831
Trade creditors 6,184 34,424
Amounts owed to group undertakings 305,673 166,672
Taxation and social security 19,157 28,868
Accruals and deferred income 25,866 33,302
395,544 301,097

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loan - 1 to 2 years 41,693 40,376
Bank loan - 2 to 5 years 145,721 138,122
Bank loan - over 5 years 253,417 299,020
440,831 477,518

Amounts falling due in more than five years:

Repayable by instalments
Bank loan - over 5 years 253,417 299,020

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 479,495 515,349

Group bank borrowings are secured by charges on the company's assets. Certain of the company's bank borrowings are secured by a charge on the company's freehold property and by a company debenture.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary £1 100,000 100,000

11. ULTIMATE CONTROLLING PARTY

The directors consider the immediate parent company to be Circle Financial Services Limited a company registered in England and Wales.

The ultimate parent company is considered to be Circle 1991 Limited, a company registered in England and Wales and copies of the consolidated financial statements can be obtained from Faraday House, 118 Holyhead Road, Coventry, CV1 3LY.