German Christmas Company Limited - Accounts to registrar (filleted) - small 18.2
German Christmas Company Limited - Accounts to registrar (filleted) - small 18.2
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 February 2020 to 31 March 2020 |
for |
German Christmas Company Limited |
German Christmas Company Limited (Registered number: 07822476) |
Contents of the Financial Statements |
for the Period 1 February 2020 to 31 March 2020 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
German Christmas Company Limited |
Company Information |
for the Period 1 February 2020 to 31 March 2020 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Bridge House |
Old Grantham Road |
Whatton |
Nottingham |
NG13 9FG |
German Christmas Company Limited (Registered number: 07822476) |
Balance Sheet |
31 March 2020 |
31.3.20 | 31.1.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges her responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
German Christmas Company Limited (Registered number: 07822476) |
Notes to the Financial Statements |
for the Period 1 February 2020 to 31 March 2020 |
1. | STATUTORY INFORMATION |
German Christmas Company Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, she continues to adopt the going concern basis in preparing the financial statements. |
These financial statements are for the 2 month period from 1 February 2020 to 31 March 2020. The prior period was 12 months. The reporting period has been moved to an administratively less active date for the business. Therefore the comparatives are not entirely comparable. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Long term leasehold property | - lifetime of lease straight line |
Freehold property | - 50 years straight line |
Plant and machinery | - 3 - 5 years straight line |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
Taxation for the period 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. |
Current or deferred taxation assets and liabilities are not discounted. |
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. |
German Christmas Company Limited (Registered number: 07822476) |
Notes to the Financial Statements - continued |
for the Period 1 February 2020 to 31 March 2020 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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 period end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Pension costs and other post-retirement benefits |
Contributions made by the company to defined contribution pension schemes are charged to the profit and loss account in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 February 2020 |
and 31 March 2020 |
DEPRECIATION |
At 1 February 2020 |
Charge for period |
At 31 March 2020 |
NET BOOK VALUE |
At 31 March 2020 |
At 31 January 2020 |
Long-term leasehold property property comprises a property with a net book value of £477,581 (31.1.2020: £478,893) which has been pledged as security for a duty deferment facility and a property with a net book value of £260,830 (31.1.2020: £261,742) which has been pledged as security for a bank loan. |
German Christmas Company Limited (Registered number: 07822476) |
Notes to the Financial Statements - continued |
for the Period 1 February 2020 to 31 March 2020 |
6. | DEBTORS |
31.3.20 | 31.1.20 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Included within other debtors due within one year is an amount of £1,253,398 (31.1.2020: £1,106,357) relating to a loan to a close relative of the director. The loan bears interest at 2.5% per annum. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.20 | 31.1.20 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.20 | 31.1.20 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 64,408 | 69,283 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.3.20 | 31.1.20 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.3.20 | 31.1.20 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
German Christmas Company Limited (Registered number: 07822476) |
Notes to the Financial Statements - continued |
for the Period 1 February 2020 to 31 March 2020 |
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 March 2020 and the year ended 31 January 2020: |
31.3.20 | 31.1.20 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
The advances to the director bear interest at a rate of 2.5% per annum. |
12. | POST BALANCE SHEET EVENTS |
Due to government restrictions imposed during the Covid-19 pandemic, the 2020 "Birmingham's Frankfurt Christmas Market" event was cancelled. Consequently, the company has been unable to generate trading income in the period to the approval of these financial statements. In addition, approximately £59,000 worth of beer and wine stocks included in the balance sheet at 31 March 2020 was consequently unable to be used and will be destroyed. |