Company Registration No. 10600191 (England and Wales)
Campfire Asset Management Limited
Unaudited accounts
for the year ended 28 February 2022
Campfire Asset Management Limited
Unaudited accounts
Contents
Campfire Asset Management Limited
Company Information
for the year ended 28 February 2022
Director
ANDRE, Paul-Emile
Company Number
10600191 (England and Wales)
Registered Office
Flat 6
2 Weller Street
London
SE1 1QZ
England
Accountants
Accounts and Legal Consultants Limited
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
Campfire Asset Management Limited
Accountants' report
Accountants' report to the director of Campfire Asset Management Limited on the preparation of the unaudited statutory accounts for the year ended 28 February 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Campfire Asset Management Limited for the year ended
28 February 2022 as set out on pages
5 -
7 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 Campfire Asset Management Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Campfire Asset Management Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Campfire Asset Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Campfire Asset Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Campfire Asset Management Limited. You consider that Campfire Asset Management Limited 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 accounts of Campfire Asset Management Limited. 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 accounts.
Accounts and Legal Consultants Limited
Suite 1-3
The Hop Exchange
24 Southwark Street
London
SE1 1TY
15 August 2022
Campfire Asset Management Limited
Statement of financial position
as at
28 February 2022
Tangible assets
1,552
2,416
Cash at bank and in hand
6,727
94,070
Creditors: amounts falling due within one year
(198,390)
(192,648)
Net current liabilities
(189,514)
(95,247)
Total assets less current liabilities
(115,472)
(88,419)
Creditors: amounts falling due after more than one year
(14,226)
(10,638)
Net liabilities
(129,698)
(99,057)
Called up share capital
1,000
1,000
Share premium
214,703
214,817
Profit and loss account
(345,401)
(314,874)
Shareholders' funds
(129,698)
(99,057)
For the year ending 28 February 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 August 2022 and were signed on its behalf by
ANDRE, Paul-Emile
Director
Company Registration No. 10600191
Campfire Asset Management Limited
Notes to the Accounts
for the year ended 28 February 2022
Campfire Asset Management Limited is a private company, limited by shares, registered in England and Wales, registration number 10600191. The registered office is Flat 6, 2 Weller Street, London, SE1 1QZ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 28 February 2022 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 March 2020.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% & 33% Straight-line
Computer equipment
33.3% Straight-line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
The accounts have been prepared on the going concern basis, as confirmation has been provided by the Director that they intend to be trading for the foreseeable future and will be funding the business activities personally as an interest free loan, that will not be paid will not be called upon within the next 12 months.
Campfire Asset Management Limited
Notes to the Accounts
for the year ended 28 February 2022
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 March 2021
6,373
5,112
11,485
At 28 February 2022
6,715
5,112
11,827
At 1 March 2021
5,618
3,451
9,069
Charge for the year
652
554
1,206
At 28 February 2022
6,270
4,005
10,275
At 28 February 2022
445
1,107
1,552
At 28 February 2021
755
1,661
2,416
5
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 March 2021
-
4,412
4,412
Additions
100
67,978
68,078
Valuation at 28 February 2022
100
72,390
72,490
6
Debtors: amounts falling due within one year
2022
2021
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
80,000
80,000
Taxes and social security
-
521
Loans from directors
118,390
110,477
8
Creditors: amounts falling due after more than one year
2022
2021
Trade creditors
14,226
10,638
9
Average number of employees
During the year the average number of employees was 1 (2021: 1).