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COMPANY REGISTRATION NUMBER: 13184308
Charlotte Armitage Limited
Filleted Unaudited Financial Statements
For the year ended
29 February 2024
Charlotte Armitage Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
21,578
10,996
Current assets
Debtors
6
41,918
7,475
Cash at bank and in hand
67,582
33,415
----------
--------
109,500
40,890
Creditors: amounts falling due within one year
7
128,929
49,300
----------
--------
Net current liabilities
19,429
8,410
--------
--------
Total assets less current liabilities
2,149
2,586
Provisions
1,981
1,957
-------
-------
Net assets
168
629
-------
-------
Capital and reserves
Called up share capital
1
1
Profit and loss account
167
628
----
----
Shareholders funds
168
629
----
----
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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Charlotte Armitage Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 6 February 2025 , and are signed on behalf of the board by:
Ms C E Armitage
Director
Company registration number: 13184308
Charlotte Armitage 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 7 Castle Mills, Knaresborough, HG5 8DE.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, '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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue from the provision of services is recognised when the service has been agreed and provided, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Current tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 be paid or recovered 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 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:
Leasehold property improvements
-
20% straight line
Fixtures and fittings
-
20% straight line
Equipment
-
25% straight line
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. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Leasehold property improvements
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 March 2023
4,000
7,504
2,648
14,152
Additions
17,182
17,182
-------
--------
-------
--------
At 29 February 2024
4,000
24,686
2,648
31,334
-------
--------
-------
--------
Depreciation
At 1 March 2023
833
1,495
828
3,156
Charge for the year
1,000
4,938
662
6,600
-------
--------
-------
--------
At 29 February 2024
1,833
6,433
1,490
9,756
-------
--------
-------
--------
Carrying amount
At 29 February 2024
2,167
18,253
1,158
21,578
-------
--------
-------
--------
At 28 February 2023
3,167
6,009
1,820
10,996
-------
--------
-------
--------
6. Debtors
2024
2023
£
£
Trade debtors
29,910
7,475
Other debtors
12,008
--------
-------
41,918
7,475
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10
Corporation tax
5,167
4,726
Other creditors
123,752
44,574
----------
--------
128,929
49,300
----------
--------
8. Related party transactions
During the year the director made available loans to the company . The loans are interest free and repayable on demand. At 29 February 2024 the balance due to the directors totalled £ 48,202 (2023 - £35,874)