Caridon Young Living Ltd - Accounts to registrar (filleted) - small 18.2

Caridon Young Living Ltd - Accounts to registrar (filleted) - small 18.2

CARIDON YOUNG LIVING LTD - Company Information

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REGISTERED NUMBER: 12095761 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

FOR

CARIDON YOUNG LIVING LTD
CARIDON YOUNG LIVING LTD (REGISTERED NUMBER: 12095761)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


CARIDON YOUNG LIVING LTD (REGISTERED NUMBER: 12095761)

STATEMENT OF FINANCIAL POSITION
31 JULY 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 44,584 41,965

CURRENT ASSETS
Debtors 5 315,335 201,009
Cash at bank and in hand 87,329 16,328
402,664 217,337
CREDITORS
Amounts falling due within one year 6 377,277 162,915
NET CURRENT ASSETS 25,387 54,422
TOTAL ASSETS LESS CURRENT
LIABILITIES
69,971
96,387

CREDITORS
Amounts falling due after more than one
year
7
65,602
50,000
NET ASSETS 4,369 46,387

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 4,359 46,377
4,369 46,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 July 2022 and were signed on its behalf by:





Mr M J Carrozzo - Director


The notes form part of these financial statements

Page 1
CARIDON YOUNG LIVING LTD (REGISTERED NUMBER: 12095761)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021

1. STATUTORY INFORMATION

Caridon Young Living Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12095761

Registered office: 1 Kings Avenue
London
N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable and excluding discounts.
Revenue is recognised when services are rendered to the customers.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Page 2 continued...
CARIDON YOUNG LIVING LTD (REGISTERED NUMBER: 12095761)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2021

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.

Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.

All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

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.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2020 - 9 ) .

Page 3 continued...
CARIDON YOUNG LIVING LTD (REGISTERED NUMBER: 12095761)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2021

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 August 2020 36,431 5,534 41,965
Additions 13,111 - 13,111
At 31 July 2021 49,542 5,534 55,076
DEPRECIATION
Charge for year 9,108 1,384 10,492
At 31 July 2021 9,108 1,384 10,492
NET BOOK VALUE
At 31 July 2021 40,434 4,150 44,584
At 31 July 2020 36,431 5,534 41,965

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 241,737 187,461
Other debtors 73,598 13,548
315,335 201,009

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 10,000 -
Trade creditors 76,456 55,022
Taxation and social security 125,645 32,781
Other creditors 165,176 75,112
377,277 162,915

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 39,585 50,000
Other creditors 26,017 -
65,602 50,000

8. RELATED PARTY DISCLOSURES

Included in the other debtors due within one year is an amount of £10,477 (2020: £Nil) due from the director of the company. Interest at the rate of 2.25% has been charged on the loan. The loan was repaid in full on 6 April 2022.

Included in the other creditors due within one year is an amount of £9,010 (2020: £18,795) due to a connected company under common control. The loan was interest free and repayable on demand.

Page 4