The Christmas Corporation Ltd
Registered number: 08939633
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 36,750
Tangible assets 4 76,618 86,958
76,618 123,708
Current assets
Stocks 35,000 75,000
Debtors 5 481,701 14,693
Cash at bank and in hand 89,564 175,978
606,265 265,671
Creditors: amounts falling due within one year 6 (249,374) (146,713)
Net current assets 356,891 118,958
Total assets less current liabilities 433,509 242,666
Creditors: amounts falling due after more than one year 7 (161,667) (21,667)
Net assets 271,842 220,999
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 270,842 219,999
Shareholders' funds 271,842 220,999
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 P A Christmas
Director
Approved by the board on 9 June 2025
The Christmas Corporation Ltd
Notes to the Accounts
for the year ended 31 March 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:
Leasehold land and buildings 10% straight line
Plant and machinery 20% reducing balance
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.
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 90 83
3 Intangible fixed assets £
Goodwill:
Cost
At 1 April 2023 367,500
At 31 March 2024 367,500
Amortisation
At 1 April 2023 330,750
Provided during the year 36,750
At 31 March 2024 367,500
Net book value
At 31 March 2024 -
At 31 March 2023 36,750
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2023 54,198 280,226 334,424
Additions - 13,384 13,384
At 31 March 2024 54,198 293,610 347,808
Depreciation
At 1 April 2023 45,357 202,109 247,466
Charge for the year 5,419 18,305 23,724
At 31 March 2024 50,776 220,414 271,190
Net book value
At 31 March 2024 3,422 73,196 76,618
At 31 March 2023 8,841 78,117 86,958
5 Debtors 2024 2023
£ £
Other debtors 481,701 14,693
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 79,249 24,181
Taxation and social security costs 101,621 58,992
Other creditors 58,504 53,540
249,374 146,713
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 11,667 21,667
Other creditors 150,000 -
161,667 21,667
8 Other information
The Christmas Corporation Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Demar House, 14 Church Road
East Wittering
Chichester
West Sussex
PO20 8PS
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