Ciqala Limited - Period Ending 2016-12-31

Registration number: 07741335

Ciqala Limited

Annual Report and Unaudited Financial Statements (Filleted)

for the Year Ended 31 December 2016

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

Ciqala Limited

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 to 7

Ciqala Limited

Company Information

Director

Mr D.D. Barrett-Evans

Registered office

8 High Street Heathfield East Sussex TN21 8LS

Accountants

Manningtons 8 High Street Heathfield East Sussex TN21 8LS

Page 1

Ciqala Limited

(Registration number: 07741335)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Current assets
Debtors	4	-	(3,901)
Cash at bank and in hand		80,891	39,695
		80,891	35,794
Creditors: Amounts falling due within one year	5	(30,820)	(14,324)
Net assets		50,071	21,470
Capital and reserves
Called up share capital		100	100
Profit and loss account		49,971	21,370
Total equity		50,071	21,470

For the financial year ending 31 December 2016 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 accounts for the year in question in accordance with section 476; and
•	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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 6 October 2017
 

.........................................

Mr D.D. Barrett-Evans

Director

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 2

Ciqala Limited

Statement of Changes in Equity for the Year Ended 31 December 2016

	Share capital £	Profit and loss account £	Total £
At 1 January 2016	100	21,370	21,470
Profit for the year	-	78,601	78,601
Total comprehensive income	-	78,601	78,601
Dividends	-	(50,000)	(50,000)
At 31 December 2016	100	49,971	50,071

	Share capital £	Profit and loss account £	Total £
At 1 January 2015	100	22,745	22,845
Profit for the year	-	18,625	18,625
Total comprehensive income	-	18,625	18,625
Dividends	-	(20,000)	(20,000)
At 31 December 2015	100	21,370	21,470

The notes on pages 4 to 7 form an integral part of these financial statements.

Page 3

Ciqala Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England.

The address of its registered office is:
8 High Street
Heathfield
East Sussex
TN21 8LS
United Kingdom

These financial statements were authorised for issue by the director on 6 October 2017.

2	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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Page 4

Ciqala Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2015 - 0).

4

Debtors

	2016 £	2015 £
Other debtors	-	(3,901)
Total current trade and other debtors	-	(3,901)

5

Creditors

	Note	2016 £	2015 £
Due within one year
Trade creditors		2,040	-
Other creditors		28,780	14,324
		30,820	14,324

6

Dividends

	2016	2015
	£	£
Final dividend of £Nil (2015 - £200.00) per ordinary share	-	20,000
Interim dividend of £500.00 (2015 - £Nil) per ordinary share	50,000	-
	50,000	20,000

Page 5

Ciqala Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

7	Transition to FRS 102

Balance Sheet at 1 January 2015
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Current assets
Cash at bank and in hand		72,043	-	-	72,043
Creditors: Amounts falling due within one year		(49,198)	-	-	(49,198)
Net assets		22,845	-	-	22,845
Capital and reserves
Called up share capital		100	-	-	100
Profit and loss account		22,745	-	-	22,745
Total equity		22,845	-	-	22,845

Page 6

Ciqala Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

Balance Sheet at 31 December 2015
 

	Note	As originally reported £	Reclassification £	Remeasurement £	As restated £
Current assets
Cash at bank and in hand		39,695	-	-	39,695
Creditors: Amounts falling due within one year		(14,324)	-	-	(14,324)
Total assets less current liabilities		25,371	-	-	25,371
Creditors: Amounts falling due after more than one year		(3,901)	-	-	(3,901)
Net assets		21,470	-	-	21,470
Capital and reserves
Called up share capital		100	-	-	100
Profit and loss account		21,370	-	-	21,370
Total equity		21,470	-	-	21,470

Page 7