Castellanos Enterprises Ltd - Accounts to registrar (filleted) - small 23.2.5

CASTELLANOS ENTERPRISES LTD

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

W A Porras Castellanos

REGISTERED OFFICE:

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

REGISTERED NUMBER:

12017426 (England and Wales)

ACCOUNTANTS:

Halsey & Co (Accountants) Ltd.

Chartered Certified Accountants

Registered Auditors

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

FIXED ASSETS

Tangible assets

5

4,516

1,150

CURRENT ASSETS

Stocks

2,000

500

Debtors

6

26,345

38,503

Cash at bank

1,893

4,997

30,238

44,000

CREDITORS

Amounts falling due within one year

7

22,635

14,114

NET CURRENT ASSETS

7,603

29,886

TOTAL ASSETS LESS CURRENT LIABILITIES

12,119

31,036

PROVISIONS FOR LIABILITIES

894

219

NET ASSETS

11,225

30,817

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

11,125

30,717

SHAREHOLDERS' FUNDS

11,225

30,817

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 31st May 2024 and were signed by:

W A Porras Castellanos - Director

1.	STATUTORY INFORMATION

Castellanos Enterprises Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1st June 2022

2,202

Additions

5,004

Disposals

(367

)

At 31st May 2023

6,839

DEPRECIATION

At 1st June 2022

1,052

Charge for year

1,446

Eliminated on disposal

(175

)

At 31st May 2023

2,323

NET BOOK VALUE

At 31st May 2023

4,516

At 31st May 2022

1,150

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Amounts owed by associates

23,968

36,503

Other debtors

2,000

2,000

VAT

377

-

26,345

38,503

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.23

31.5.22

£

£

Trade creditors

567

117

Tax

8,545

10,035

Social security and other taxes

9,842

266

Other creditors

150

-

Wages payable

401

-

Pensions payable

165

-

Directors' current accounts

2,004

2,499

Accrued expenses

961

1,197

22,635

14,114

8.	RELATED PARTY DISCLOSURES

At the balance sheet date, the company was owed £19,391 (2022 - £24,715) by Jalisco Limited, a company under the common control of the director. The amount is interest free and repayable on demand.

At the balance sheet date, the company was owed £4,577 (2022 - £11,788) by Lovegrub Enterprises Ltd, a company under the common control of the director. The amount is interest free and repayable on demand.