Castle Combe Exhibitions Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04954639 (England and Wales)

CASTLE COMBE EXHIBITIONS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mrs K J Marshallsay

G Marshallsay

REGISTERED OFFICE:

16 Lambourne Crescent

Cardiff Business Park

Llanishen

Cardiff

CF14 5GF

REGISTERED NUMBER:

04954639 (England and Wales)

ACCOUNTANTS:

Johns Jones & Lo Limited

Chartered Accountants & Registered Auditors

16 Lambourne Crescent

Cardiff Business Park

Llanishen

Cardiff

CF14 5GF

FIXED ASSETS

Intangible assets

4

1,054

1,604

Tangible assets

5

24,108

13,325

25,162

14,929

CURRENT ASSETS

Debtors

6

316,372

215,334

Cash at bank

55,706

60,252

372,078

275,586

CREDITORS

Amounts falling due within one year

7

162,521

48,086

NET CURRENT ASSETS

209,557

227,500

TOTAL ASSETS LESS CURRENT
LIABILITIES

234,719

242,429

PROVISIONS FOR LIABILITIES

5,943

2,514

NET ASSETS

228,776

239,915

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

228,676

239,815

228,776

239,915

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2025 and were signed on its behalf by:

G Marshallsay - Director

1.	STATUTORY INFORMATION

Castle Combe Exhibitions Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However, the nature of estimation means that actual outcomes could differ from those estimates.

Recoverability of debtors

Estimation is involved in the assessment of the recoverability of debtors and the calculation of the associated bad debt provision. Factors such as the age of the debt, prior experience and recoverability statistics are included in management's assessment.

Useful economic lives of tangible fixed assets

Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. Management regularly reviews the assets' useful economic lives. Changes in assets' useful economic lives can have a significant impact on depreciation for the period. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Provision for impairments

Tangible fixed assets are reviewed for signs of impairment each year and written down accordingly. All tangible fixed assets are reviewed by management in conjunction with market data and other relevant information. Changes in any of the factors considered for impairments can affect the value reported in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of four years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from banks. Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original effective interest rate. If the financial instrument has a variable interest rate the currently effective rate under the contract is used.

A financial asset is derecognised only when the contractual rights to the cash flows from the financial asset expire or are settled or, substantially all of the risks and rewards of ownership of the financial asset have been transferred to another party or when despite having retained some, but not substantially all, risks and rewards of ownership, control of the asset has been transferred to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case, the company derecognises the asset and recognises separately any rights and obligations retained or created in the transfer. A financial liability is derecognised when the contract that gives rise to it is settled, sold, cancelled, or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, and deposits held at call with banks.

Going concern

These financial statements have been prepared on a going concern basis on the grounds that the Directors consider that the Company has sufficient cash resources to enable the Company to continue to meet its liabilities as they fall due.

Debtors

Debtors include trade debtors, certain other financial instruments and prepayments. Prepayments are payments made for goods or services that will be received in the future.

Creditors

Creditors include trade creditors and certain other short and long-term financial instruments.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

COST

At 1st January 2024

and 31st December 2024

50,000

6,750

56,750

AMORTISATION

At 1st January 2024

50,000

5,146

55,146

Charge for year

-

550

At 31st December 2024

50,000

5,696

55,696

NET BOOK VALUE

At 31st December 2024

-

1,054

At 31st December 2023

-

1,604

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st January 2024

20,733

Additions

14,280

At 31st December 2024

35,013

DEPRECIATION

At 1st January 2024

7,408

Charge for year

3,497

At 31st December 2024

10,905

NET BOOK VALUE

At 31st December 2024

24,108

At 31st December 2023

13,325

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

-

112,682

Other debtors

316,372

102,652

316,372

215,334

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

10,497

1,082

Taxation and social security

32,578

16,635

Other creditors

119,446

30,369

162,521

48,086

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2024 and 31st December 2023:

2024

2023

£

G Marshallsay

Balance outstanding at start of year

2,778

2,324

Amounts advanced

69,887

454

Amounts repaid

(66,500

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

6,165

2,778

Mrs K J Marshallsay

Balance outstanding at start of year

33,048

28,923

Amounts advanced

61,288

4,125

Amounts repaid

(54,500

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

39,836

33,048

Interest has been charged on the loans at HMRC official rate of 2.25%.

Amounts are repayable upon demand.

9.	RELATED PARTY DISCLOSURES

Included within other debtors is an amount of £244,944 (2023: £112,682) owed by Castle Combe Circuit Limited a company in which Mr. G. Marshallsay is a director.

There is no interest charged on this amount and is repayable upon demand.

A total of £1,284 is included within other debtors which are amounts owed to the company by its shareholders. These amounts are due to personal expenditure being paid for by the company, No interest has been charged on these amounts and are fully repayable upon demand.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the directors.