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Registered number: 13291473 CESTRIAN WATCH COMPANY LTD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
CESTRIAN WATCH COMPANY LTD REGISTERED NUMBER: 13291473 BALANCE SHEET AS AT 31 OCTOBER 2024
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Intangible assets |  |  | 92,092 |  | 100,143
|  |  | 92,092 |  | 100,143
Current assets |  |  |  |  |
Debtors: amounts falling due within one year |  | 32,381 |  | 12,054 |
Cash at bank and in hand |  | 1,031 |  | 806 |
|  | 33,412 |  | 12,860 |
Creditors: amounts falling due within one year |  | (122,093) |  | (132,607) |
Net current liabilities |  |  | (88,681) |  | (119,747)
Total assets less current liabilities |  |  | 3,411 |  | (19,604)
Net assets/(liabilities) |  |  | 3,411 |  | (19,604)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 125 |  | 100
Share premium account |  |  | 99,975 |  | -
Profit and loss account |  |  | (96,689) |  | (19,704)
|  |  | 3,411 |  | (19,604)
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CESTRIAN WATCH COMPANY LTD REGISTERED NUMBER: 13291473 BALANCE SHEET (CONTINUED) AS AT 31 OCTOBER 2024 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D Parry
Director
Date: 6 January 2025
The notes on pages 3 to 7 form part of these financial statements. Page 2
CESTRIAN WATCH COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
1. | General information
The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England & Wales (no. 13291473). The registered office 15-17 Charles Street, Hoole, Chester CH2 3AZ. These financial statements present information about the company as an individual undertaking; it is not a member of a group of companies. The principal activity of the company is that of retail sale of watches and jewellery. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006. 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 following principal accounting policies have been applied:
| 2.2 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Page 3
CESTRIAN WATCH COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 2.Accounting policies (continued)
| 2.3 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
| 2.4 | Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
| 2.5 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.6 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 4
CESTRIAN WATCH COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 2.Accounting policies (continued)
| 2.7 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.8 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2023 - 2).
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CESTRIAN WATCH COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
4. | Intangible assets
|  | Brand and website
|  | £
| Cost |
| At 1 November 2023 | 111,270
| Additions | 3,418
| At 31 October 2024 | 114,688
| Amortisation |
| At 1 November 2023 | 11,127
| Charge for the year on owned assets | 11,469
| At 31 October 2024 | 22,596
| Net book value |
| At 31 October 2024 | 92,092
| At 31 October 2023 | 100,143
Page 6
CESTRIAN WATCH COMPANY LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 331 | 5,386
| Other debtors | 100 | 100
| Deferred taxation | 31,950 | 6,568
|  | 32,381 | 12,054
6. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 1,031 | 806
|  | 1,031 | 806
7. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade creditors | 5,500 | 369
| Other creditors | 114,993 | 131,238
| Accruals and deferred income | 1,600 | 1,000
|  | 122,093 | 132,607
8. | Related party transactions
| Included in other creditors is an amount of £104,993 owed to Watchnation Ltd (2023 - £131,238), a connected company.
9. | Controlling party
The company is under the control of D Parry by virtue of his shareholding.
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