Castle Irwell Limited - Period Ending 2020-07-31

Castle Irwell Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

Castle Irwell Limited

(Registration number: 12094090)
Balance Sheet as at 31 July 2020

	Note	2020 £
Current assets
Stocks	4	22,377,575
Debtors	5	37,162
Cash at bank and in hand		1,813,558
		24,228,295
Creditors: Amounts falling due within one year	6	(624,975)
Total assets less current liabilities		23,603,320
Creditors: Amounts falling due after more than one year	6	(23,605,250)
Net liabilities		(1,930)
Capital and reserves
Called up share capital		100
Profit and loss account		(2,030)
Shareholders' deficit		(1,930)

For the financial period ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Directors' Report has been taken.

Approved and authorised by the Board on 24 November 2020 and signed on its behalf by:
 

.........................................

Mr Simon Anthony Ismail
Director

Castle Irwell Limited

Notes to the Unaudited Financial Statements for the Period from 9 July 2019 to 31 July 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
3A Birchwood One Business Park Road
Dewhurst Road Birchwood
Warrington
WA3 7GB
England

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Castle Irwell Limited

Notes to the Unaudited Financial Statements for the Period from 9 July 2019 to 31 July 2020

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

4

Stocks

	2020 £
Work in progress	22,377,575

5

Debtors

	2020 £
Other debtors	37,162
	37,162

Castle Irwell Limited

Notes to the Unaudited Financial Statements for the Period from 9 July 2019 to 31 July 2020

6

Creditors

Creditors: amounts falling due within one year

	2020 £
Due within one year
Trade creditors	622,975
Accruals and deferred income	2,000
	624,975

Creditors: amounts falling due after more than one year

	2020 £
Due after one year
Loans and borrowings	2,000,000
Other non-current financial liabilities	21,605,250
	23,605,250