Czapowski Financial Limited Filleted accounts for Companies House (small and micro)

CZAPOWSKI FINANCIAL LTD - Company Information

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COMPANY REGISTRATION NUMBER: 08821488

CZAPOWSKI FINANCIAL LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2020

CZAPOWSKI FINANCIAL LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2020

	2020		2019
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		1,961		3,046

CURRENT ASSETS

Debtors	6	28,816	10,405
Cash at bank and in hand		18,129	8,635
		--------	--------
		46,945	19,040

CREDITORS: amounts falling due within one year	7	20,001		20,020
		--------		--------
NET CURRENT ASSETS/(LIABILITIES)			26,944		( 980)
			--------		-------
TOTAL ASSETS LESS CURRENT LIABILITIES			28,905		2,066

CREDITORS: amounts falling due after more than one year	8	27,000	–
		--------	-------
NET ASSETS		1,905	2,066
		--------	-------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	1,903	2,064
	-------	-------
SHAREHOLDERS FUNDS	1,905	2,066
	-------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

CZAPOWSKI FINANCIAL LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2020

These financial statements were approved by the board of directors and authorised for issue on 2 March 2021 , and are signed on behalf of the board by:

S. Czapowski

Director

Company registration number: 08821488

CZAPOWSKI FINANCIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2020

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Guardian House, 42 Preston New Road, Blackburn, Lancashire, BB2 6AH.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

(a) Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

(b) Government grants

Government grants or assistance of a revenue nature are recognised in the same period as the related expenditure. Where the grant is for the purpose of giving immediate financial support with no future related costs the income is recognised in the period in which it becomes receivable.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

(d) Taxation

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

(e) Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

(f) Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	`20% per annum straight line`

(g) Financial instruments

Basic financial instruments are recognised at amortised cost.

(h) Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2019: 1 ).

5. TANGIBLE ASSETS

	Equipment	Total
	£	£
Cost
At 1 January 2020 and 31 December 2020	5,428	5,428
	-------	-------
Depreciation
At 1 January 2020	2,382	2,382
Charge for the year	1,085	1,085
	-------	-------
At 31 December 2020	3,467	3,467
	-------	-------
Carrying amount
At 31 December 2020	1,961	1,961
	-------	-------
At 31 December 2019	3,046	3,046
	-------	-------

6. DEBTORS

	2020	2019
	£	£
Directors loan account	28,816	10,405
	--------	--------

7. CREDITORS: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	3,000	–
Accruals and deferred income	834	834
Corporation tax	16,167	19,186
	--------	--------
	20,001	20,020
	--------	--------

8. CREDITORS: amounts falling due after more than one year

	2020	2019
	£	£
Bank loans and overdrafts	27,000	–
	--------	----

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company made a short term loan to the directors amounting to £28,816. The loan has been repaid in full since the year end.

10. RELATED PARTY TRANSACTIONS

The company was under the control of the directors, Mr S. Czapowski and Mrs K. Czapowski, throughout the year. During the year the company paid dividends to the directors amounting to £68,000.