Charmancreaton Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 14451522

CHARMANCREATON LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD FROM 31 OCTOBER 2022 TO

28 October 2024

CHARMANCREATON LTD

FINANCIAL STATEMENTS

PERIOD FROM 31 OCTOBER 2023 TO 28 OCTOBER 2024

CONTENTS	PAGES

Statement of financial position	1 to 2

Notes to the financial statements	3 to 6

CHARMANCREATON LTD

STATEMENT OF FINANCIAL POSITION

28 October 2024

	28 Oct 24		30 Oct 23
Note	£	£	£	£

FIXED ASSETS

Tangible assets	6		9,093		–

CURRENT ASSETS

Stocks		365,000	80,000
Debtors	7	50,766	–
Cash at bank and in hand		65,647	4,666
		---------	--------
		481,413	84,666

CREDITORS: amounts falling due within one year	8	( 270,305)		( 64,372)
		---------		--------
NET CURRENT ASSETS			211,108		20,294
			---------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			220,201		20,294

PROVISIONS

Taxation including deferred tax	( 2,273)	–
	---------	--------
NET ASSETS	217,928	20,294
	---------	--------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	217,828	20,194
	---------	--------
SHAREHOLDERS FUNDS	217,928	20,294
	---------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the period ending 28 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CHARMANCREATON LTD

STATEMENT OF FINANCIAL POSITION (continued)

28 October 2024

These financial statements were approved by the board of directors and authorised for issue on 14 January 2026 , and are signed on behalf of the board by:

G Creaton

Director

Company registration number: 14451522

CHARMANCREATON LTD

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 31 OCTOBER 2023 TO 28 OCTOBER 2024

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20-22 Bridge End, Leeds, United Kingdom, LS1 4DJ.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.

Income tax

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

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the period amounted to 16 (2023: 5 ).

5. TAX ON PROFIT

Major components of tax expense

	Period from	Period from
	31 Oct 23 to	1 Nov 22 to
	28 Oct 24	30 Oct 23
	£	£

Current tax:

UK current tax expense	144,763	43,584
Adjustments in respect of prior periods	24	–
	---------	--------
Total current tax	144,787	43,584
	---------	--------

Deferred tax:

Origination and reversal of timing differences	2,273	–
	---------	--------
Tax on profit	147,060	43,584
	---------	--------

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the period is higher than (2023: the same as) the standard rate of corporation tax in the UK of 25 % (2023: 22.26 %).

	Period from	Period from
	31 Oct 23 to	1 Nov 22 to
	28 Oct 24	30 Oct 23
	£	£
Profit on ordinary activities before taxation	520,694	195,778
	---------	---------
Profit on ordinary activities by rate of tax	130,173	43,584
Adjustment to tax charge in respect of prior periods	24	–
Effect of expenses not deductible for tax purposes	16,863	–
Effect of capital allowances and depreciation	( 2,273)	–
Deferred taxation movement	2,273	–
	---------	---------
Tax on profit	147,060	43,584
	---------	---------

6. TANGIBLE ASSETS

	Equipment	Total
	£	£
Cost
At 31 October 2023	–	–
Additions	9,629	9,629
	-------	-------
At 28 October 2024	9,629	9,629
	-------	-------
Depreciation
At 31 October 2023	–	–
Charge for the period	536	536
	-------	-------
At 28 October 2024	536	536
	-------	-------
Carrying amount
At 28 October 2024	9,093	9,093
	-------	-------
At 30 October 2023	–	–
	-------	-------

7. DEBTORS

	28 Oct 24	30 Oct 23
	£	£
Trade debtors	( 2,067)	–
Other debtors	52,833	–
	--------	----
	50,766	–
	--------	----

8. CREDITORS: amounts falling due within one year

	28 Oct 24	30 Oct 23
	£	£
Trade creditors	60,802	216
Corporation tax	145,593	43,584
Social security and other taxes	55,117	8,482
Credit cards	4,783	–
Other creditors	4,010	12,090
	---------	--------
	270,305	64,372
	---------	--------

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company entered into loans with its directors. These loans are interest free and repayable on demand. As at the balance sheet date the total amount outstanding from the directors to the company amounted to £48,089 (2023 - Owed to the directors £8,725).