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Company registration number: 11109220
Charlotte Victoria Ltd
Trading as Black Lane Ends Tavern
Unaudited filleted financial statements
31 December 2024
Charlotte Victoria Ltd
Contents
Statement of financial position
Notes to the financial statements
Charlotte Victoria Ltd
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 5 16,350 21,800
Tangible assets 6 6,332 7,707
_______ _______
22,682 29,507
Current assets
Stocks 8,000 10,000
Debtors 7 1,265 51,581
Cash at bank and in hand 111,217 132,044
_______ _______
120,482 193,625
Creditors: amounts falling due
within one year 8 ( 111,952) ( 138,055)
_______ _______
Net current assets 8,530 55,570
_______ _______
Total assets less current liabilities 31,212 85,077
_______ _______
Net assets 31,212 85,077
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 31,112 84,977
_______ _______
Shareholder funds 31,212 85,077
_______ _______
For the year ending 31 December 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 member has 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 their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 04 March 2025 , and are signed on behalf of the board by:
Mrs Charlotte Brear
Director
Company registration number: 11109220
Charlotte Victoria Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 42 Middleton, Cowling, Keighley, BD22 0DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, '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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); 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.Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied; the amount of revenue can be measured reliably; it is probable that the economic benefits associated with the transaction will flow to the entity; the stage of completion of the transaction at the end of the reporting period can be measured reliably and the costs incurred and costs to complete the transaction can be measured reliably.
Taxation
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances and revaluation gains on investment properties. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - Over 5 years
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated 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:
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 33 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and directors' loans.Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. Directors' loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2023: 24 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2024 and 31 December 2024 27,250 27,250
_______ _______
Amortisation
At 1 January 2024 5,450 5,450
Charge for the year 5,450 5,450
_______ _______
At 31 December 2024 10,900 10,900
_______ _______
Carrying amount
At 31 December 2024 16,350 16,350
_______ _______
At 31 December 2023 21,800 21,800
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 January 2024 7,199 15,225 22,424
Additions 583 - 583
_______ _______ _______
At 31 December 2024 7,782 15,225 23,007
_______ _______ _______
Depreciation
At 1 January 2024 3,704 11,013 14,717
Charge for the year 568 1,390 1,958
_______ _______ _______
At 31 December 2024 4,272 12,403 16,675
_______ _______ _______
Carrying amount
At 31 December 2024 3,510 2,822 6,332
_______ _______ _______
At 31 December 2023 3,495 4,212 7,707
_______ _______ _______
7. Debtors
2024 2023
£ £
Other debtors 1,265 51,581
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 6,550 6,012
Corporation tax 8,717 21,313
Social security and other taxes 20,446 18,916
Other creditors 76,239 91,814
_______ _______
111,952 138,055
_______ _______