Company Registration No. 12682100 (England and Wales)
CULM VALLEY PET CREMATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
CULM VALLEY PET CREMATION LIMITED
COMPANY INFORMATION
Directors
Mrs D Berry
Mr S Berry
Company number
12682100
Registered office
Units 1 & 2
Block A
Flightways Business Park
Dunkeswell
Devon
EX14 4DE
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
CULM VALLEY PET CREMATION LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
CULM VALLEY PET CREMATION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
46,452
31,394
Current assets
Debtors
4
4,863
Cash at bank and in hand
1,841
583
6,704
583
Creditors: amounts falling due within one year
5
(107,276)
(50,209)
Net current liabilities
(100,572)
(49,626)
Total assets less current liabilities
(54,120)
(18,232)
Provisions for liabilities
(8,676)
(5,965)
Net liabilities
(62,796)
(24,197)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(62,798)
(24,199)
Total equity
(62,796)
(24,197)
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 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
T
he directors acknowledge their responsibilities for complying with the requirements of the Act 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 22 December 2022 and are signed on its behalf by:
Mr S Berry
Director
Company Registration No. 12682100
CULM VALLEY PET CREMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
1
Accounting policies
Company information
Culm Valley Pet Cremation Limited is a
private
company
limited by shares
incorporated in
England and Wales within the United Kingdom
.
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 significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
1.2
Going concern
A
t the time of approving the financial statements
,
t
he directors have a reasonable expectation that the
company
has adequate resources to continue in operational existence for the foreseeable future. Thus
t
he directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year
.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cos
t
, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
7 Years straight line
Plant and equipment
20% Reducing balance
Fixtures and fittings
15% reducing balance
Computers
3 Years straight line
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
.
1.5
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.
CULM VALLEY PET CREMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
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.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
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.
Deferred tax
Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 0 (2021 - 0
).
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2021
35,684
1,417
37,101
Additions
19,583
3,663
2,116
122
25,484
At 31 March 2022
19,583
39,347
2,116
1,539
62,585
Depreciation and impairment
At 1 April 2021
5,353
354
5,707
Depreciation charged in the year
2,797
6,799
317
513
10,426
At 31 March 2022
2,797
12,152
317
867
16,133
Carrying amount
At 31 March 2022
16,786
27,195
1,799
672
46,452
At 31 March 2021
30,331
1,063
31,394
CULM VALLEY PET CREMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
4
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
90
Other debtors
4,773
4,863
-
5
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,809
Other taxation and social security
977
Other creditors
107,276
47,423
107,276
50,209
6
Called up share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary of £1 each
2
2