Company Registration No. 12682100 (England and Wales)
CULM VALLEY PET CREMATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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 - 2
Notes to the financial statements
3 - 5
CULM VALLEY PET CREMATION LIMITED
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
37,767
46,452
Current assets
Stocks
8,132
-
Debtors
4
1,092
4,863
Cash at bank and in hand
2,381
1,841
11,605
6,704
Creditors: amounts falling due within one year
5
(103,004)
(107,276)
Net current liabilities
(91,399)
(100,572)
Total assets less current liabilities
(53,632)
(54,120)
Provisions for liabilities
(7,026)
(8,676)
Net liabilities
(60,658)
(62,796)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
(60,660)
(62,798)
Total equity
(60,658)
(62,796)
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 2023 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 Act with respect to accounting records and the preparation of financial statements.
The 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.
CULM VALLEY PET CREMATION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 24 August 2023 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 2023
- 3 -
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 amounts 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
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the 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 cost, 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
Stocks
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
CULM VALLEY PET CREMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 4 -
1.6
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.
1.7
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.
1.8
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.
1.9
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 1 (2022 - 0).
CULM VALLEY PET CREMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
3
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 April 2022
19,583
39,347
2,116
1,539
62,585
Additions
175
230
405
At 31 March 2023
19,758
39,577
2,116
1,539
62,990
Depreciation and impairment
At 1 April 2022
2,797
12,152
317
867
16,133
Depreciation charged in the year
2,822
5,485
270
513
9,090
At 31 March 2023
5,619
17,637
587
1,380
25,223
Carrying amount
At 31 March 2023
14,139
21,940
1,529
159
37,767
At 31 March 2022
16,786
27,195
1,799
672
46,452
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,048
90
Other debtors
44
4,773
1,092
4,863
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other taxation and social security
1,084
Other creditors
101,920
107,276
103,004
107,276
6
Called up share capital
2023
2022
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary of £1 each
2
2