CT Strategic Ltd 31/01/2022 iXBRL

CT Strategic Ltd 31/01/2022 iXBRL

CT STRATEGIC LTD - Company Information

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Company registration number: 11754321
CT Strategic Ltd
Unaudited filleted abridged financial statements
31 January 2022
CT Strategic Ltd
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
CT Strategic Ltd
Directors and other information
Directors Ms Mary-Jane Calam
Mr Neil Thompson
Company number 11754321
Registered office Unit 2, Beverley Court
26 Elmtree Road
Teddington
Middlesex
TW11 8ST
Accountants Bradbury Stell
Unit 2 Beverley Court
26 Elmtree Road
Teddington
Middx
TW11 8ST
CT Strategic Ltd
Report to the board of directors on the preparation of the
unaudited statutory financial statements of CT Strategic Ltd
Year ended 31 January 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of CT Strategic Ltd for the year ended 31 January 2022 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf.
Bradbury Stell
Chartered Certified Accountants
Unit 2 Beverley Court
26 Elmtree Road
Teddington
Middx
TW11 8ST
31 March 2022
CT Strategic Ltd
Abridged statement of financial position
31 January 2022
2022 2021
Note £ £ £ £
Fixed assets
Tangible assets 5 3,707 3,484
_______ _______
3,707 3,484
Current assets
Debtors 14,608 12,891
Cash at bank and in hand 435,254 298,839
_______ _______
449,862 311,730
Creditors: amounts falling due
within one year ( 45,158) ( 50,141)
_______ _______
Net current assets 404,704 261,589
_______ _______
Total assets less current liabilities 408,411 265,073
Provisions for liabilities ( 704) ( 605)
_______ _______
Net assets 407,707 264,468
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 407,705 264,466
_______ _______
Shareholders funds 407,707 264,468
_______ _______
For the year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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 comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 January 2022 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 31 March 2022 , and are signed on behalf of the board by:
Ms Mary-Jane Calam
Director
Company registration number: 11754321
CT Strategic Ltd
Statement of changes in equity
Year ended 31 January 2022
Called up share capital Profit and loss account Total
£ £ £
At 1 February 2020 2 88,548 88,550
Profit for the year 177,918 177,918
_______ _______ _______
Total comprehensive income for the year - 177,918 177,918
Dividends paid and payable ( 2,000) ( 2,000)
_______ _______ _______
Total investments by and distributions to owners - ( 2,000) ( 2,000)
_______ _______ _______
At 31 January 2021 and 1 February 2021 2 264,466 264,468
Profit for the year 145,239 145,239
_______ _______ _______
Total comprehensive income for the year - 145,239 145,239
Dividends paid and payable ( 2,000) ( 2,000)
_______ _______ _______
Total investments by and distributions to owners - ( 2,000) ( 2,000)
_______ _______ _______
At 31 January 2022 2 407,705 407,707
_______ _______ _______
CT Strategic Ltd
Notes to the financial statements
Year ended 31 January 2022
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Unit 2, Beverley Court, 26 Elmtree Road, Teddington, Middlesex, TW11 8ST.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
As with most businesses we have been impacted by Covid-19. This has had an impact on our operations, customers, suppliers and staff. We have (where appropriate) utilised the grants and benefits available from the Government and are taking all the steps we can to protect the future of our business.The directors have taken the following steps to mitigate the risk of Covid 19:- Increased monitoring of cash flows- Reviewed availability of credit facilitiesThe directors have also considered the effect of Brexit on the business and, as most sales are UK based, do not feel that there will be any major implications for the company. Although the total impact of Covid-19 and Brexit are uncertain, the directors believe that it is appropriate to prepare the accounts on a going concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021: 2 ).
5. Tangible assets
£
Cost
At 1 February 2021 5,045
Additions 1,979
_______
At 31 January 2022 7,024
_______
Depreciation
At 1 February 2021 1,561
Charge for the year 1,756
_______
At 31 January 2022 3,317
_______
Carrying amount
At 31 January 2022 3,707
_______
At 31 January 2021 3,484
_______
6. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Ms Mary-Jane Calam 3,297 2,357 5,654
Mr Neil Thompson 3,297 2,357 5,654
_______ _______ _______
6,594 4,714 11,308
_______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Ms Mary-Jane Calam ( 3,825) 7,122 3,297
Mr Neil Thompson ( 3,825) 7,122 3,297
_______ _______ _______
( 7,650) 14,244 6,594
_______ _______ _______