Registered number
03686347
CIRO PEARLS LIMITED
Filleted Accounts
30 September 2024
BAS Associates Ltd
Chartered Management Accountants
8 Wingbury Courtyard
Leighton Road
Wingrave
HP22 4LW
T: 01296 681341
CIRO PEARLS LIMITED
Registered number: 03686347
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 4 62,254 77,244
Investments 5 596,000 596,000
658,254 673,244
Current assets
Stocks 168,992 141,333
Debtors 6 33,643 54,861
Cash at bank and in hand 953,781 470,147
1,156,416 666,341
Creditors: amounts falling due within one year 7 (855,941) (576,215)
Net current assets 300,475 90,126
Total assets less current liabilities 958,729 763,370
Creditors: amounts falling due after more than one year 8 (745,424) (743,013)
Net assets 213,305 20,357
Capital and reserves
Called up share capital 1,950,000 1,950,000
Profit and loss account (1,736,695) (1,929,643)
Shareholder's funds 213,305 20,357
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr J Shannon
Director
Approved by the board on 20 May 2025
CIRO PEARLS LIMITED
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Short Leasehold land and buildings over the lease term
Motor vehicles over 5 years
Fixtures, fittings, tools and equipment over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 October 2023 1,594,900
At 30 September 2024 1,594,900
Amortisation
At 1 October 2023 1,594,900
At 30 September 2024 1,594,900
Net book value
At 30 September 2024 -
Goodwill was written off in equal annual instalments over its estimated economic life.
4 Tangible fixed assets
Shorthold Lease Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 50,289 44,794 33,579 128,662
Additions - 3,251 - 3,251
At 30 September 2024 50,289 48,045 33,579 131,913
Depreciation
At 1 October 2023 44,249 7,169 - 51,418
Charge for the year 3,020 8,505 6,716 18,241
At 30 September 2024 47,269 15,674 6,716 69,659
Net book value
At 30 September 2024 3,020 32,371 26,863 62,254
At 30 September 2023 6,040 37,625 33,579 77,244
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 October 2023 596,000
At 30 September 2024 596,000
6 Debtors 2024 2023
£ £
Trade debtors - 22,046
Other debtors 33,643 32,815
33,643 54,861
7 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors (13,556) (65,616)
Taxation and social security costs 237,531 161,070
Other creditors 631,966 480,761
855,941 576,215
8 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 745,424 743,013
9 Other information
CIRO PEARLS LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
8 Wingbury Courtyard
Leighton Road
Wingrave
Bucks
HP22 4LW
CIRO PEARLS LIMITED 03686347 false 2023-10-01 2024-09-30 2024-09-30 VT Final Accounts July 2024 Mr J Shannon No description of principal activity 03686347 2022-10-01 2023-09-30 03686347 core:WithinOneYear 2023-09-30 03686347 core:AfterOneYear 2023-09-30 03686347 core:ShareCapital 2023-09-30 03686347 core:RetainedEarningsAccumulatedLosses 2023-09-30 03686347 2023-10-01 2024-09-30 03686347 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 03686347 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 03686347 bus:Director40 2023-10-01 2024-09-30 03686347 1 2023-10-01 2024-09-30 03686347 2 2023-10-01 2024-09-30 03686347 core:LandBuildings 2023-10-01 2024-09-30 03686347 core:PlantMachinery 2023-10-01 2024-09-30 03686347 core:Vehicles 2023-10-01 2024-09-30 03686347 countries:England 2023-10-01 2024-09-30 03686347 bus:FRS102 2023-10-01 2024-09-30 03686347 bus:FilletedAccounts 2023-10-01 2024-09-30 03686347 2024-09-30 03686347 core:WithinOneYear 2024-09-30 03686347 core:AfterOneYear 2024-09-30 03686347 core:ShareCapital 2024-09-30 03686347 core:RetainedEarningsAccumulatedLosses 2024-09-30 03686347 core:Goodwill 2024-09-30 03686347 core:LandBuildings 2024-09-30 03686347 core:PlantMachinery 2024-09-30 03686347 core:Vehicles 2024-09-30 03686347 2023-09-30 03686347 core:Goodwill 2023-09-30 03686347 core:LandBuildings 2023-09-30 03686347 core:PlantMachinery 2023-09-30 03686347 core:Vehicles 2023-09-30 iso4217:GBP xbrli:pure