COMPANY REGISTRATION NO. 06705076 (England and Wales)
CASTLEGATE 535 LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
PAGES FOR FILING WITH REGISTRAR
CASTLEGATE 535 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CASTLEGATE 535 LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2017
31 December 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Intangible assets
2
132,736
-
Investments
3
-
160,955
132,736
160,955
Current assets
Debtors
4
-
379,796
Cash at bank and in hand
500
1
500
379,797
Creditors: amounts falling due within one year
5
(558,839)
(540,652)
Net current liabilities
(558,339)
(160,855)
Total assets less current liabilities
(425,603)
100
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
(425,703)
-
Total equity
(425,603)
100
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 30 November 2018 and are signed on its behalf by:
Mr J P C Keith
Director
Company Registration No. 06705076
CASTLEGATE 535 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2017
- 2 -
1
Accounting policies
Company information
Castlegate 535 Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
C/O UHY Hacker Young, Lanyon House, Mission Court, Newport, NP20 2DW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Reporting period
[ FRS 102
3.10 An entity shall present a complete set of financial statements (including comparative
information as set out in paragraph 3.14) at least annually. When the end of an entity’s
reporting period changes and the annual financial statements are presented for a
period longer or shorter than one year, the entity shall disclose the following:
(a) that fact;
(b) the reason for using a longer or shorter period; and
(c) the fact that comparative amounts presented in the financial statements (including
the related notes) are not entirely comparable.
]
1.3
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten years.
For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
1.4
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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.
CASTLEGATE 535 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 3 -
2
Intangible fixed assets
Goodwill
£
Cost
At 1 January 2017
-
Additions - separately acquired
147,485
At 31 December 2017
147,485
Amortisation and impairment
At 1 January 2017
-
Amortisation charged for the year
14,749
At 31 December 2017
14,749
Carrying amount
At 31 December 2017
132,736
At 31 December 2016
-
3
Fixed asset investments
2017
2016
£
£
Investments
-
160,955
Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2017 & 31 December 2017
160,955
Carrying amount
At 31 December 2017
160,955
At 31 December 2016
160,955
Error! Does not agree to TB:
-
Difference
160,955
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Other debtors
-
379,796
CASTLEGATE 535 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2017
- 4 -
5
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
65,486
-
Other creditors
493,353
540,652
558,839
540,652
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
1,000 Ordinary of 10p each
100
100
100
100
7
Directors' transactions
Dividends totalling £0 (2016 - £0) were paid in the year in respect of shares held by the company's directors.
The directors operate a current loan account with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn director's fees. At the year end the amount outstanding to the directors was £493,353 (2016 - £410,855); this amount being included in creditors: amounts falling due within one year.