Circlepride Limited

(Registration number: 02553610)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	1,333,036	822,943
Current assets
Stocks	5	330	330
Debtors	6	981,826	783,801
Cash at bank and in hand		624,319	640,602
		1,606,475	1,424,733
Creditors: Amounts falling due within one year	7	(1,101,884)	(854,517)
Net current assets		504,591	570,216
Total assets less current liabilities		1,837,627	1,393,159
Creditors: Amounts falling due after more than one year	7	(427,527)	(326,724)
Provisions for liabilities		(23,131)	(22,901)
Net assets		1,386,969	1,043,534
Capital and reserves
Called up share capital	9	100	100
Capital redemption reserve		1	1
Retained earnings		1,386,868	1,043,433
Shareholders' funds		1,386,969	1,043,534

For the financial 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.

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.

Circlepride Limited

(Registration number: 02553610)
Balance Sheet as at 31 December 2024

These financial statements have been prepared and 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 3 September 2025 and signed on its behalf by:
 

......................................... Mr PJ Williams Director

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

1	General information

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

The address of its registered office is:
Fowlers Yard
Warrens Hill
Cheddar
Somerset
BS27 3LP
UK

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.

The presentation currency of the financial statements is the Pound Sterling ( £ ).

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

2	Accounting policies (continued)

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of 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

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

2	Accounting policies (continued)

Freehold property

Freehold property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. Fair value adjustments are transferred to a non-distributable revaluation reserve.

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
Improvements to tenanted property	Straight line over 10 years
Fixtures fittings and equipment	25% on reducing balance
Motor vehicles	25% on reducing balance
Computer equipment (included within Furniture, fittings and equipment)	33% on cost
Portacabins	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.

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

2	Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

2	Accounting policies (continued)

Borrowings

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 5 (2023 - 5).

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 January 2024	772,456	239,964	98,987	1,111,407
Additions	423,520	126,709	52,304	602,533
Disposals	-	(199)	(34,320)	(34,519)
At 31 December 2024	1,195,976	366,474	116,971	1,679,421
Depreciation
At 1 January 2024	41,105	196,125	51,234	288,464
Charge for the year	21,079	42,891	24,633	88,603
Eliminated on disposal	-	(179)	(30,503)	(30,682)
At 31 December 2024	62,184	238,837	45,364	346,385
Carrying amount
At 31 December 2024	1,133,792	127,637	71,607	1,333,036
At 31 December 2023	731,351	43,839	47,753	822,943

5

Stocks

	2024 £	2023 £
Other inventories	330	330

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current	2024 £	2023 £
Trade debtors	887,618	638,052
Prepayments	2,018	1,613
Other debtors	92,190	144,136
	981,826	783,801

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	45,966	33,750
Trade creditors		826,405	609,537
Taxation and social security		199,757	157,067
Accruals and deferred income		28,555	47,403
Other creditors		1,201	6,760
		1,101,884	854,517

Creditors falling due within one year includes bank loans and overdrafts which are secured of £45,966 (2023 - £23,750).

Circlepride Limited

Notes to the Financial Statements for the Year Ended 31 December 2024

7	Creditors (continued)

Creditors: amounts falling due after more than one year

	Note	2024 £	2023 £
Due after one year
Loans and borrowings	8	427,527	326,724

	2024 £	2023 £
Due after more than five years
After more than five years by instalments	274,173	210,958

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