CULDROSE LTD - Filleted accounts

Registered number

07663059

CULDROSE LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

PAGES FOR FILING WITH REGISTRAR

CULDROSE LTD

CONTENTS



Page

Balance sheet	1

Notes to the financial statements	2 - 5

CULDROSE LTD

Balance Sheet

as at 30 June 2023
Company Registration No.	07663059



Notes			2023			2022
£				£
Current assets
Debtors	4	-			6,058
Cash at bank and in hand		101			183
		101			6,241

Creditors: amounts falling due within one year	5	(21,956)			(22,606)

Net current liabilities			(21,855)			(16,365)

Net liabilities			(21,855)			(16,365)

Capital and reserves
Called up share capital			200			200
Profit and loss account			(22,055)			(16,565)

Shareholders' funds			(21,855)			(16,365)


The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies' regime. The profit and loss account has not been delivered to the Registrar of Companies.



…………………………………..
Laura Mary Athole Tham
Director

Approved by the board on 26 March 2024

CULDROSE LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023



1	Accounting policies

	Basis of preparation
	These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to the small companies regime. The disclosure requirements of section 1A have been applied other than where additional disclosure is required to show a true and fair view. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical convention. The principal accounting policies adopted are set out below.

	Going concern
	The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the company being able to trade profitably in the future and the continued support of the company's directors who are also shareholders. The financial statements do not include any adjustments that would result if the company continued to make losses and such support were withdrawn. If the company was unable to continue to trade, adjustments would have to be made to reduce the value of assets to their recoverable amounts, provide for further liabilities that may arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. The shareholders and directors have expressed their willingness to continue supporting the company for the foreseeable future and hence it is appropriate for the financial statements to be prepared on a going concern basis.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Fixtures, fittings and equipment	20% straight line

	Financial instruments
	The company only enters into basic financial statements 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 instruments are recognised in the company's balance sheet date when the company becomes party to the contractual provisions of the instruments. 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 of impairments found, an impairment loss is recognised in profit and loss accounts. 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 or to realise the asset and settle the liability simultaneously.

	Basic financial assets
	Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried amortised cost using effective interest method, less any impairment.

	Derecognition of financial assets
	Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

	Basic financial liabilities
	Basic financial liabilities, including creditors, bank loans, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using effective interest method. Financial liabilities classified as payable within one year are not amortised.

	Derecognition of financial liabilities
	Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

	Cash and cash equivalents
	Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with financial institutions, and 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.

	Taxation
	The tax expense represents the sum of the tax currently payable and deferred tax.

	Current tax
	The current tax payable is based on taxable profit for the year. Taxable profit differs from net profit reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


2	Employees		2023		2022
Number				Number

	Average number of persons employed by the company		2		2


3	Tangible fixed assets
					Fixtures, fittings and equipment
£
	Cost
	At 1 July 2022				1,936
	At 30 June 2023				1,936

	Depreciation
	At 1 July 2022				1,936
	At 30 June 2023				1,936

	Net book value
	At 30 June 2023				-


4	Debtors		2023		2022
£				£

	Corporation tax refund		-		6,058
					6,058

5	Creditors: amounts falling due within one year		2023		2022
£				£

	Trade creditors		-		319
	Other taxes and social security costs		503		1,470
	Directors' current account		18,653		18,167
	Other creditors		2,800		2,650
			21,956		22,606


6	Other information

	Culdrose Ltd is a private company limited by shares and incorporated in England and Wales. The registered office is: 37 Warren Street, London, W1T 6AD.

CULDROSE LTD 07663059 false 2022-07-01 2023-06-30 2023-06-30 VT Final Accounts October 2023 release 2 Laura Mary Athole Tham No description of principal activity 07663059 2021-07-01 2022-06-30 07663059 core:WithinOneYear 2022-06-30 07663059 core:ShareCapital 2022-06-30 07663059 core:RetainedEarningsAccumulatedLosses 2022-06-30 07663059 2022-07-01 2023-06-30 07663059 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 07663059 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 07663059 bus:Director40 2022-07-01 2023-06-30 07663059 1 2022-07-01 2023-06-30 07663059 2 2022-07-01 2023-06-30 07663059 countries:England 2022-07-01 2023-06-30 07663059 bus:FRS102 2022-07-01 2023-06-30 07663059 bus:FullAccounts 2022-07-01 2023-06-30 07663059 2023-06-30 07663059 core:WithinOneYear 2023-06-30 07663059 core:ShareCapital 2023-06-30 07663059 core:RetainedEarningsAccumulatedLosses 2023-06-30 07663059 core:PlantMachinery 2023-06-30 07663059 2022-06-30 07663059 core:PlantMachinery 2022-06-30 iso4217:GBP xbrli:pure