CL Number Twenty Seven Limited
CL Number Twenty Seven Limited
Registered number: 11465461
Unaudited Financial Statements
For The Year Ended
31 July 2020
LAS Accountants LLP
CL Number Twenty Seven Limited
Unaudited Financial Statements
For The Year Ended
31 July 2020
Unaudited Financial Statements
Contents | |
Page | |
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Statement of Financial Position | 1 |
Notes to the Financial Statements | 2—3 |
CL Number Twenty Seven Limited
Statement of Financial Position
As at
31 July 2020
Statement of Financial Position
Registered number:
11465461
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
31 July 2020 | 31 July 2019 | ||||
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Notes | £ | £ | £ | £ | |
CURRENT ASSETS | |||||
Debtors | 3 |
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Cash at bank and in hand |
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Creditors: Amounts Falling Due Within One Year | 4 |
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NET CURRENT ASSETS (LIABILITIES) |
( |
( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
( |
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NET LIABILITIES |
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CAPITAL AND RESERVES | |||||
Called up share capital | 5 |
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Income Statement |
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SHAREHOLDERS' FUNDS | (21,148) | (11,271) | |||
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Director
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The notes on pages 2 to 3 form part of these financial statements.
Page 1
CL Number Twenty Seven Limited
Notes to the Financial Statements
For The Year Ended
31 July 2020
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
These financial statements for the year ended 31 July 2020 are the first financial statements of CL Number Twenty Seven Limited prepared in accordance with FRS 102 (Section 1A), The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 (Section A) was 1 August 2019. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102 (Section 1A).
1.2.
Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and have arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The Directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4.
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.
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 statement of financial position date.
1.5.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non puttable ordinary shares. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an important loss is recognised in the Statement of Comprehensive Income. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset’s carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis to realise the asset and settle the liability simultaneously.
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. Bank overdrafts are shown within borrowings in current liabilities.
1.7.
Critical Accounting Judgements And Key Sources of Estimation Uncertainty
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.
Page 2
CL Number Twenty Seven Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 July 2020
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
31 July 2020 | 31 July 2019 | ||
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Office and administration |
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3.
Debtors
31 July 2020 | 31 July 2019 | ||
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Due within one year | |||
Loans to developers |
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4.
Creditors: Amounts Falling Due Within One Year
31 July 2020 | 31 July 2019 | ||
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£ | £ | ||
Trade creditors |
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Other creditors |
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Amounts owed to connected undertakings |
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Bondholders' funds |
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Amounts owed to parent undertaking |
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6.
General Information
CL Number Twenty Seven Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
11465461
. The registered office is Lance Levy Farmhouse, Wildmoor Lane,, Hook, Hampshire, RG27 0HB.
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