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Registered Number: 12767249
England and Wales

 

 

 

THE CIRCLE OF STYLE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Director Dalal NAGEH
Registered Number 12767249
Registered Office 167-169 Great Portland Street
London
W1W 5PF
Accountants Swenta Limited
167-169 Great Portland Street, 5th Floor

London
W1W 5PF
1
Director's report and financial statements
The director presents her annual report and the financial statements for the year ended 31 July 2024.
Principal activities
Principal activity of the company during the financial year was of agents involved in the sale of textiles, clothing, fur, footwear and leather goods.
Director
The director who served the company throughout the year was as follows:
Statement of director's responsibilities
The director is responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

On behalf of the board.



Date approved: 04 March 2025
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 July 2024 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Swenta Limited
31 July 2024



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

Swenta Limited

167-169 Great Portland Street, 5th Floor

London
W1W 5PF
04 March 2025
3
 
 
Notes
 
2024
£
  2023
£
Turnover 186,344    145,175 
Cost of sales (99,832)   (111,452)
Gross profit 86,512    33,723 
Administrative expenses (313,398)   (413,979)
Other operating income 55,180   
Operating loss (171,706)   (380,256)
Interest payable and similar charges   (4,050)
Profit/(Loss) on ordinary activities before taxation (171,706)   (384,306)
Tax on profit on ordinary activities   70,684 
Profit/(Loss) for the financial year (171,706)   (313,622)
 
4
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 836   
836   
Current assets      
Stocks 4 82,664    170,019 
Debtors 5 40,640    75,841 
Cash at bank and in hand 4,995   
128,299    245,860 
Creditors: amount falling due within one year 6 13,805    (40,050)
Net current assets 142,104    205,810 
 
Total assets less current liabilities 142,940    205,810 
Creditors: amount falling due after more than one year 7 (274,455)   (185,473)
Provisions for liabilities 8 (257)   (257)
Net assets (131,772)   20,080 
 

Capital and reserves
     
Called up share capital 135    110,129 
Share premium account 9 639,843    639,843 
Profit and loss account (771,750)   (729,892)
Shareholders' funds (131,772)   20,080 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 04 March 2025 and were signed by:


5
General Information
THE CIRCLE OF STYLE LTD is a private company, limited by shares, registered in England and Wales, registration number 12767249, registration address 167-169 Great Portland Street, London, W1W 5PF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and machinery etc   Total
  £   £
At 01 August 2023  
Additions 1,024    1,024 
Disposals  
At 31 July 2024 1,024    1,024 
Depreciation
At 01 August 2023 188    188 
Charge for year  
On disposals  
At 31 July 2024 188    188 
Net book values
Closing balance as at 31 July 2024 836    836 
Opening balance as at 01 August 2023 (188)   (188)


4.

Stocks

2024
£
  2023
£
Stocks 82,664    170,019 
82,664    170,019 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Other Debtors 40,640    5,157 
Corporation Tax   70,684 
40,640    75,841 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 11,087    16,052 
Bank Loans & Overdrafts  
PAYE & Social Security 13,957    20,850 
Accrued Expenses 4,500   
Other Creditors (45,876)  
VAT 2,527    3,148 
(13,805)   40,050 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 150,000    162,688 
Accrued Expenses   4,500 
Directors' Loan Accounts 124,455    18,285 
274,455    185,473 

8.

Provisions for liabilities

2024
£
  2023
£
Pension Provisions 257    257 
257    257 

9.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 639,843    639,843 
639,843    639,843 

6