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Audited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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CARLSQUARE LTD |
REGISTERED NUMBER:
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Audited Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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CARLSQUARE LTD |
CARLSQUARE LTD (REGISTERED NUMBER: 10122093) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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CARLSQUARE LTD |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Statutory Auditor |
2 Church Street |
Brighton |
East Sussex |
BN1 1UJ |
CARLSQUARE LTD (REGISTERED NUMBER: 10122093) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Prepayments and accrued income |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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CARLSQUARE LTD (REGISTERED NUMBER: 10122093) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Carlsquare Ltd is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents revenue recognised by the company in respect of services supplied, excluding value added tax. |
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Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Retainer Fees are recognised on an ongoing basis in the month of invoice. Whilst Success Fees are recognised when the performance obligation has been satisfied, at completion of the transaction. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Government grants |
Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate. Revenue grants received in the period relate to the Corona Virus Job Retention Scheme. |
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Financial instruments |
Financial assets and financial liabilities are recognised on the balance sheet when the entity becomes party to the contractual provisions of the financial instrument. |
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Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
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Basic financial assets, including trade debtors, loans to fellow group companies, cash and bank balances are recognised at transaction price. There are no arrangements in respect of these assets which are considered to constitute a financing arrangement. |
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Basic financial liabilities, including trade and other payables, loans from fellow group companies are recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at market rate of interest. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
CARLSQUARE LTD (REGISTERED NUMBER: 10122093) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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2. | ACCOUNTING POLICIES - continued |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Foreign currencies |
The financial statements are presented in pound sterling. |
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Transactions and balances |
Foreign currency transactions are translated into the functional currency using the exchange rates at the dates of the transactions. |
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At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction. |
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Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the profit and loss account. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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CARLSQUARE LTD (REGISTERED NUMBER: 10122093) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
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Additions |
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Disposals | ( |
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At 31 December 2021 |
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DEPRECIATION |
At 1 January 2021 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Directors' loan accounts | 2,537 | - |
Deferred tax asset |
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Accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Loans from parent company |
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Trade creditors |
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Tax |
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Social security and other taxes |
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VAT | 14,833 | 11,930 |
Credit card |
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Net wages due | - | 778 |
Other loans | - | 96,413 |
Directors' loan accounts | - | 2,248 |
Deferred income |
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Accrued expenses |
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CARLSQUARE LTD (REGISTERED NUMBER: 10122093) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Loans from parent company |
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8. | PROVISIONS FOR LIABILITIES |
2021 |
£ |
Deferred tax | 13,766 |
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Deferred |
tax |
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Balance at 1 January 2021 | ( |
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Accelerated capital allowances | 10,209 |
Tax losses | 76,862 |
Balance at 31 December 2021 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 5,000 | 5,000 |
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10. | RESERVES |
Retained |
earnings |
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At 1 January 2021 | ( |
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Profit for the year |
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At 31 December 2021 |
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11. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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CARLSQUARE LTD (REGISTERED NUMBER: 10122093) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 31 December 2021 and 31 December 2020: |
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2021 | 2020 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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13. | RELATED PARTY DISCLOSURES |
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The company's issued share capital is 100% owned by Carlsquare GmbH, Esplanade 41, Finnlandhaus, 20354 Hamburg. |
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During the year the company supplied services to Carlsquare GmbH amounting to £1,747,941 (2020: £9,919) and received goods & services amounting to £212,604 (2020: £73,346) |