Company registration number 11651773 (England and Wales)
CIRCUIT PA LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
CIRCUIT PA LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CIRCUIT PA LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Debtors
5
228
195
Cash at bank and in hand
14,548
13,848
14,776
14,043
Creditors: amounts falling due within one year
6
(1,520)
(282)
Net current assets
13,256
13,761
Reserves
Income and expenditure account
13,256
13,761
Total members' funds
13,256
13,761

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 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.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 9 September 2025 and are signed on its behalf by:
Mr G Palfreyman
Director
Company registration number 11651773 (England and Wales)
CIRCUIT PA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Circuit PA Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Cumbria House, Broad Street, Windermere, Cumbria, LA23 2AB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due.

Expenses include VAT where applicable as the company cannot reclaim it.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers
33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

CIRCUIT PA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
7
5
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 and 31 December 2024
1,746
Depreciation and impairment
At 1 January 2024 and 31 December 2024
1,746
Carrying amount
At 31 December 2024
-
0
At 31 December 2023
-
0
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Service charges due
-
0
1
Other debtors
228
194
228
195
CIRCUIT PA LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
-
0
(378)
Other creditors
1,520
660
1,520
282
7
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

2024-12-31 2024-01-01 false false false 09 September 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity Mr M Palfreyman Mr S Bird Mr G Palfreyman Mr P Mantripp Mr C Loney Mr C Jeff Mr A Brown 11651773 2024-01-01 2024-12-31 11651773 2024-12-31 11651773 2023-12-31 11651773 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 11651773 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 11651773 core:RetainedEarningsAccumulatedLosses 2024-12-31 11651773 core:RetainedEarningsAccumulatedLosses 2023-12-31 11651773 bus:Director3 2024-01-01 2024-12-31 11651773 core:ComputerEquipment 2024-01-01 2024-12-31 11651773 2023-01-01 2023-12-31 11651773 core:OtherPropertyPlantEquipment 2023-12-31 11651773 core:OtherPropertyPlantEquipment 2024-12-31 11651773 core:OtherPropertyPlantEquipment 2023-12-31 11651773 core:CurrentFinancialInstruments 2024-12-31 11651773 core:CurrentFinancialInstruments 2023-12-31 11651773 core:WithinOneYear 2024-12-31 11651773 core:WithinOneYear 2023-12-31 11651773 bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 11651773 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11651773 bus:FRS102 2024-01-01 2024-12-31 11651773 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 11651773 bus:Director1 2024-01-01 2024-12-31 11651773 bus:Director2 2024-01-01 2024-12-31 11651773 bus:Director4 2024-01-01 2024-12-31 11651773 bus:Director5 2024-01-01 2024-12-31 11651773 bus:Director6 2024-01-01 2024-12-31 11651773 bus:Director7 2024-01-01 2024-12-31 11651773 bus:FullAccounts 2024-01-01 2024-12-31 xbrli:pure xbrli:shares iso4217:GBP