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Registration number: 02875372

The Catalogue Resource Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

The Catalogue Resource Limited

Contents

Company Information

1

Profit and Loss Account

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 9

 

The Catalogue Resource Limited

Company Information

Directors

Mr Nigel V. Swabey

Mrs Michele Swabey

Company secretary

Mr Nigel V. Swabey

Registered office

85, First Floor
Great Portland Street
London
W1W 7LT

Accountants

ACTA Services Ltd
The Pound
Nell Hill
Hannington
Wilts
SN6 7RT

 

The Catalogue Resource Limited

Profit and Loss Account for the Year Ended 31 May 2024

Note

2024
£

2023
£

Turnover

 

9,544

81,569

Gross profit

 

9,544

81,569

Administrative expenses

 

(180,019)

(139,883)

Operating loss

 

(170,475)

(58,314)

Other interest receivable and similar income

 

330

397

Loss before tax

(170,145)

(57,917)

Tax on loss

 

-

4,580

Loss for the financial year

 

(170,145)

(53,337)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

The Catalogue Resource Limited

(Registration number: 02875372)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,172

181,577

Current assets

 

Debtors

5

17,610

68,345

Cash at bank and in hand

 

29,158

4,843

 

46,768

73,188

Creditors: Amounts falling due within one year

6

(39,421)

(6,101)

Net current assets

 

7,347

67,087

Net assets

 

38,519

248,664

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

38,517

248,662

Shareholders' funds

 

38,519

248,664

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 February 2025 and signed on its behalf by:
 

.........................................
Mr Nigel V. Swabey
Company secretary and director

 

The Catalogue Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
85, First Floor
Great Portland Street
London
W1W 7LT
England

The principal place of business is:
6, Roedean Crescent,
Roehampton,
London,
SW15 5JU
United Kingdom

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 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 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that
are recognised in other comprehensive income or directly in equity, in which case, the current and
deferred tax is also recognised in other comprehensive income or directly in equity respectively.

 

The Catalogue Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Leasehold improvements

5% on cost

Office equipment

25% on reducing balance

Office furniture

15% on reducing balance

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

The Catalogue Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

The obligations for contributions to defined contribution scheme are recognised as an expense as incurred.
The assets of the scheme are held separately from those of the Company in an independent administered
fund.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

The Catalogue Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Office furniture
 £

Cost or valuation

At 1 June 2023

323,430

122,741

97,250

38,717

Disposals

-

-

(48,260)

-

At 31 May 2024

323,430

122,741

48,990

38,717

Depreciation

At 1 June 2023

196,464

113,173

56,387

35,122

Charge for the year

111,967

7,173

6,890

3,595

Eliminated on disposal

-

-

(28,065)

-

At 31 May 2024

308,431

120,346

35,212

38,717

Carrying amount

At 31 May 2024

14,999

2,395

13,778

-

At 31 May 2023

126,966

9,568

40,863

3,595

Other tangible assets
£

Total
£

Cost or valuation

At 1 June 2023

14,599

596,737

Disposals

-

(48,260)

At 31 May 2024

14,599

548,477

Depreciation

At 1 June 2023

14,014

415,160

Charge for the year

585

130,210

Eliminated on disposal

-

(28,065)

At 31 May 2024

14,599

517,305

Carrying amount

At 31 May 2024

-

31,172

At 31 May 2023

585

181,577

Included within the net book value of land and buildings above is £15,000 (2023 - £126,966) in respect of short leasehold land and buildings.
 

 

The Catalogue Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

9,544

759

Amounts owed by related parties

8

382

936

Other debtors

 

7,684

66,650

   

17,610

68,345

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

33,374

-

Trade creditors

 

4,505

4,190

Taxation and social security

 

342

711

Accruals and deferred income

 

1,200

1,200

 

39,421

6,101

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       

8

Related party transactions

 

The Catalogue Resource Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

52,927

64,260

Michele Swabey has been provided with a company car.