REGISTERED NUMBER: 14641732 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2025

for

Contemporary Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs K Mason

Mr A Simpson

Mrs K Storr-Simpson

REGISTERED OFFICE:

23a Church Street

Guisborough

TS14 6HG

REGISTERED NUMBER:

14641732 (England and Wales)

ACCOUNTANTS:

APC Accountancy

Chartered Accountants

73 Gilkes Street

Middlesbrough

TS1 5EH

FIXED ASSETS

Tangible assets

4

88

-

CURRENT ASSETS

Stocks

1,250

1,250

Cash at bank

22,038

27,508

23,288

28,758

CREDITORS

Amounts falling due within one year

5

15,761

14,967

NET CURRENT ASSETS

7,527

13,791

TOTAL ASSETS LESS CURRENT LIABILITIES

7,615

13,791

CAPITAL AND RESERVES

Called up share capital

6

6

Retained earnings

7,609

13,785

7,615

13,791

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 4 November 2025 and were signed on its behalf by:

Mr A Simpson - Director

Mrs K Storr-Simpson - Director

1.	STATUTORY INFORMATION

Contemporary 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.

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

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

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

-

25% on cost

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 6 (2024 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

117

At 28 February 2025

117

DEPRECIATION

Charge for year

29

At 28 February 2025

29

NET BOOK VALUE

At 28 February 2025

88

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

28.2.24

£

£

Trade creditors

1,124

917

Taxation and social security

14,384

13,948

Other creditors

253

102

15,761

14,967

6.	RELATED PARTY DISCLOSURES

At at 28th February 2025 the company owed its director £193. (2024- £42)

7.	ULTIMATE CONTROLLING PARTY

The company is under the control of its directors.