Company Registration No. 08994247 (England and Wales)
CAMPLYON LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
PAGES FOR FILING WITH REGISTRAR
CAMPLYON LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
CAMPLYON LTD
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CAMPLYON LTD FOR THE YEAR ENDED 31 MARCH 2020
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Camplyon Ltd for the year ended 31 March 2020 which comprise the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Camplyon Ltd, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Camplyon Ltd
and state those matters that we have agreed to state to the Board of Directors of Camplyon Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Camplyon Ltd and its Board of Directors as a body, for
our work or for this report.
It is your duty to ensure that Camplyon Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and loss
of Camplyon Ltd. You consider that Camplyon Ltd is exempt from the statutory audit
requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Camplyon Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
5 March 2021
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
CAMPLYON LTD
BALANCE SHEET
AS AT
31 MARCH 2020
31 March 2020
- 2 -
2020
2019
Notes
£
£
£
£
Fixed assets
Tangible assets
3
168
485
Current assets
Debtors
4
2,263
2,263
Cash at bank and in hand
259
6,997
2,522
9,260
Creditors: amounts falling due within one year
5
(4,022)
(1,328)
Net current (liabilities)/assets
(1,500)
7,932
Total assets less current liabilities
(1,332)
8,417
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(1,432)
8,317
Total equity
(1,332)
8,417
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has 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 and signed by the director and authorised for issue on 3 March 2021
Mr D Wright
Director
Company Registration No. 08994247
CAMPLYON LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2020
- 3 -
1
Accounting policies
Company information
Camplyon Ltd is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.3
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.4
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.
Debtors
Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.
CAMPLYON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
1
Accounting policies
(Continued)
- 4 -
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Creditors
Creditors are not interest bearing and are included at their nominal value.
1.6
Taxation
The tax expense represents the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation
in the period
are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2020
2019
Number
Number
Total
1
1
CAMPLYON LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2020
- 5 -
3
Tangible fixed assets
Computers
£
Cost
At 1 April 2019 and 31 March 2020
1,269
Depreciation and impairment
At 1 April 2019
784
Depreciation charged in the year
317
At 31 March 2020
1,101
Carrying amount
At 31 March 2020
168
At 31 March 2019
485
4
Debtors
2020
2019
Amounts falling due within one year:
£
£
Other debtors
2,263
2,263
5
Creditors: amounts falling due within one year
2020
2019
£
£
Trade creditors
1,603
-
Other creditors
2,419
1,328
4,022
1,328