Constable Credit Limited Filleted accounts for Companies House (small and micro)

CONSTABLE CREDIT LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02545866

Constable Credit Limited

Filleted Unaudited Financial Statements

30 June 2022

Constable Credit Limited

Statement of Financial Position

30 June 2022

	2022	2021
Note	£	£

Current assets

Debtors	4	44,775	72,233
Cash at bank and in hand		179	1,160
		--------	--------
		44,954	73,393

Creditors: amounts falling due within one year	5	17,258	15,958
		--------	--------
Net current assets		27,696	57,435
		--------	--------
Total assets less current liabilities		27,696	57,435

Creditors: amounts falling due after more than one year	6	18,450	24,600
		--------	--------
Net assets		9,246	32,835
		--------	--------

Capital and reserves

Called up share capital	2	2
Profit and loss account	9,244	32,833
	-------	--------
Shareholders funds	9,246	32,835
	-------	--------

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 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 28 February 2023 , and are signed on behalf of the board by:

Mr J Hall
Director

Company registration number: 02545866

Constable Credit Limited

Notes to the Financial Statements

Year ended 30 June 2022

1. General information

The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 18 Manor Courtyard, Hughenden Avenue, High Wycombe, Bucks, HP13 5RE.

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

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. The company ceased trading on 31st March 2021

Revenue recognition

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. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Debtors

	2022	2021
	£	£
Trade debtors	–	15,758
Other debtors	44,775	56,475
	--------	--------
	44,775	72,233
	--------	--------

5. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	6,150	6,150
Trade creditors	1,200	–
Corporation tax	8,708	8,708
Other creditors	1,200	1,100
	--------	--------
	17,258	15,958
	--------	--------

Within creditors due within one year, a bank loan of £6,150 (2021: £6,150) is secured by a partial guarantee from the UK government, which would only apply in the event that the company becomes unable to meet the repayments.

6. Creditors: amounts falling due after more than one year

	2022	2021
	£	£
Bank loans and overdrafts	18,450	24,600
	--------	--------

Within creditors falling due after more than one year, a bank loan of £18,450 (2021: £24,600) is secured by a partial guarantee from the UK government, which would only apply in the event that the company becomes unable to meet the repayments.

7. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	Balance brought forward and outstanding
	2022	2021
	£	£
Mr J Hall	2,000	2,000
	-------	-------

The directors loan is interest free and repayable on demand.