The Camel Trading Company Limited - Period Ending 2023-05-31
The Camel Trading Company Limited - Period Ending 2023-05-31
Registration number:
The Camel Trading Company Limited
for the Year Ended 31 May 2023
The Camel Trading Company Limited
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Camel Trading Company Limited
(Registration number: 01622538)
Balance Sheet as at 31 May 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Investments |
|
|
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Other financial assets |
888,121 |
818,207 |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Share premium reserve |
194,648 |
194,648 |
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Retained earnings |
285,185 |
290,825 |
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Shareholders' funds |
479,933 |
485,573 |
For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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The Camel Trading Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.
Tangible assets
Tangible assets are stated in the Balance Sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% reducing balance |
Investment property
The Camel Trading Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Investments
Current asset investments are included at the lower of cost and net realisable value.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including the director) during the year was
The Camel Trading Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Tangible assets |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 June 2022 |
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At 31 May 2023 |
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Depreciation |
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At 1 June 2022 |
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Charge for the year |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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At 31 May 2022 |
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Investment properties |
2023 |
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At 1 June 2021 |
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Fair value adjustments |
( |
At 31 May 2022 |
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The property was revalued by Palmer Snell on 17 March 2023.
The Camel Trading Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Other financial assets (current and non-current) |
Financial assets at fair value through profit and loss |
Total |
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Current financial assets |
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Cost or valuation |
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At 1 June 2022 |
818,207 |
818,207 |
Fair value adjustments |
69,914 |
69,914 |
At 31 May 2023 |
888,121 |
888,121 |
Carrying amount |
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At 31 May 2023 |
|
888,121 |
At 31 May 2022 |
|
818,207 |
Debtors |
2023 |
2022 |
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Other debtors |
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Prepayments |
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Current asset investments |
2023 |
2022 |
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Other investments |
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Creditors |
Due within one year |
Note |
2023 |
2022 |
Amounts due to related parties |
- |
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Other creditors |
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- |
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Accruals |
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The Camel Trading Company Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Related party transactions |
Transactions with the director |
2023 |
At 1 June 2022 |
Advances to director |
At 31 May 2023 |
P J Fishleigh (Deceased) |
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( |
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2022 |
At 1 June 2021 |
Advances to director |
Repayments by director |
At 31 May 2022 |
P J Fishleigh (Deceased) |
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( |
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The loan is interest free and repayable on demand.