Contemporary Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04924776 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Contemporary Holdings Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A Simpson

Mrs K Storr-Simpson

REGISTERED OFFICE:

23a Church Street

Guisborough

TS14 6HG

REGISTERED NUMBER:

04924776 (England and Wales)

ACCOUNTANTS:

APC Accountancy

Chartered Accountants

73 Gilkes Street

Middlesbrough

TS1 5EH

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

976,618

976,670

976,618

976,670

CURRENT ASSETS

Debtors

6

22,223

20,912

Cash at bank and in hand

958,497

987,258

980,720

1,008,170

CREDITORS

Amounts falling due within one year

7

842,059

821,397

NET CURRENT ASSETS

138,661

186,773

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,115,279

1,163,443

CREDITORS

Amounts falling due after more than one
year

8

(223,618

)

(231,126

)

PROVISIONS FOR LIABILITIES

9

(154

)

(164

)

NET ASSETS

891,507

932,153

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

891,505

932,151

SHAREHOLDERS' FUNDS

891,507

932,153

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 26 September 2025 and were signed on its behalf by:

Mr A Simpson - Director

1.	STATUTORY INFORMATION

Contemporary Holdings Limited 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.

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.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced for goods and services during the year, exclusive of Value Added Tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten 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

-

10% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual

provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

150,000

AMORTISATION

At 1 January 2024

and 31 December 2024

150,000

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 January 2024

975,808

57,893

1,033,701

Additions

-

140

At 31 December 2024

975,808

58,033

1,033,841

DEPRECIATION

At 1 January 2024

-

57,031

Charge for year

-

192

At 31 December 2024

-

57,223

NET BOOK VALUE

At 31 December 2024

975,808

810

976,618

At 31 December 2023

975,808

862

976,670

The freehold properties held by the company have been valued on an open market basis at 31.12.24 by the directors.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

21,061

19,750

Other debtors

1,162

22,223

20,912

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

10,000

Trade creditors

5,137

2,911

Taxation and social security

14,730

29,734

Other creditors

812,192

778,752

842,059

821,397

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Other creditors

223,618

231,126

9.	PROVISIONS FOR LIABILITIES

31.12.24

31.12.23

£

Deferred tax

154

164

Deferred

tax

£

Balance at 1 January 2024

164

Provided during year

(10

)

Timing differences

Balance at 31 December 2024

154

10.	RELATED PARTY DISCLOSURES

Mr A Simpson and Mrs K Storr-Simpson are also directors of Contemporary Salons Limited.

As at 31 December 2024 the company owed Contemporary Salons Limited £332,456 (2023: £349,562).

As at 31st December 2024 the company owed its directors £675,628 (2023: £621,230).

11.	ULTIMATE CONTROLLING PARTY

The company is under the control of its directors during the reporting period.