REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 January 2023 |
for |
Ciel (Concessions) Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 31 January 2023 |
for |
Ciel (Concessions) Limited |
Ciel (Concessions) Limited (Registered number: 04947316) |
Contents of the Financial Statements |
for the Year Ended 31 January 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
Ciel (Concessions) Limited |
Company Information |
for the Year Ended 31 January 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
& Statutory Auditors |
1 Beauchamp Court |
10 Victors Way |
Barnet |
Hertfordshire |
EN5 5TZ |
Ciel (Concessions) Limited (Registered number: 04947316) |
Statement of Financial Position |
31 January 2023 |
31.1.23 | 31.1.22 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
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. |
Ciel (Concessions) Limited (Registered number: 04947316) |
Statement of Financial Position - continued |
31 January 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Ciel (Concessions) Limited (Registered number: 04947316) |
Notes to the Financial Statements |
for the Year Ended 31 January 2023 |
1. | STATUTORY INFORMATION |
Ciel (Concessions) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods. |
Tangible fixed assets |
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings - 15% on reducing balance |
Motor vehicles - 25% on reducing balance |
Stocks |
Stocks are stated 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 stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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 statement of financial position date. |
Ciel (Concessions) Limited (Registered number: 04947316) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
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. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Debtors and creditors receivable / payable within one year |
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 in other administrative expenses. |
Loans and borrowings |
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. |
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. |
Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. |
Ciel (Concessions) Limited (Registered number: 04947316) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 February 2022 |
Additions |
At 31 January 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for year |
At 31 January 2023 |
NET BOOK VALUE |
At 31 January 2023 |
At 31 January 2022 |
5. | STOCKS |
31.1.23 | 31.1.22 |
£ | £ |
Finished goods |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Trade debtors |
Prepayments |
Ciel (Concessions) Limited (Registered number: 04947316) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Tax |
Social security and other taxes |
Pension | 2,186 | - |
VAT | 50,581 | 36,809 |
Other creditors |
Directors' current accounts | 73,874 | 126,461 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.23 | 31.1.22 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
31.1.23 | 31.1.22 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Amounts falling due between two and five years: |
Bounce back loan |
10. | PROVISIONS FOR LIABILITIES |
31.1.23 | 31.1.22 |
£ | £ |
Deferred tax | 6,868 | 5,918 |
Deferred |
tax |
£ |
Balance at 1 February 2022 |
Provided during year |
Balance at 31 January 2023 |
Ciel (Concessions) Limited (Registered number: 04947316) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2023 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.23 | 31.1.22 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1 February 2022 |
Profit for the year |
At 31 January 2023 |
13. | RELATED PARTY DISCLOSURES |
Included within creditors is £73,874 (2022: £126,461) being amounts owed to key management personal of the company. The loan is interest free and payable on demand. |
In other creditors is £173,270 being a loan owed Greenhouse Investments Limited, a mutually controlled company. The loan is interest free and is repayable on demand. |