Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-31true02021-01-010falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03209186 2021-01-01 2021-12-31 03209186 2020-01-01 2020-12-31 03209186 2021-12-31 03209186 2020-12-31 03209186 c:Director1 2021-01-01 2021-12-31 03209186 d:FreeholdInvestmentProperty 2021-12-31 03209186 d:FreeholdInvestmentProperty 2020-12-31 03209186 d:FreeholdInvestmentProperty 2 2021-01-01 2021-12-31 03209186 d:CurrentFinancialInstruments 2021-12-31 03209186 d:CurrentFinancialInstruments 2020-12-31 03209186 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03209186 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03209186 d:ShareCapital 2021-12-31 03209186 d:ShareCapital 2020-12-31 03209186 d:SharePremium 2021-12-31 03209186 d:SharePremium 2020-12-31 03209186 d:RevaluationReserve 2021-12-31 03209186 d:RevaluationReserve 2020-12-31 03209186 d:ForeignCurrencyTranslationReserve 2021-12-31 03209186 d:ForeignCurrencyTranslationReserve 2020-12-31 03209186 d:RetainedEarningsAccumulatedLosses 2021-12-31 03209186 d:RetainedEarningsAccumulatedLosses 2020-12-31 03209186 c:OrdinaryShareClass1 2021-01-01 2021-12-31 03209186 c:OrdinaryShareClass1 2021-12-31 03209186 c:OrdinaryShareClass1 2020-12-31 03209186 c:FRS102 2021-01-01 2021-12-31 03209186 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 03209186 c:FullAccounts 2021-01-01 2021-12-31 03209186 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03209186 5 2021-01-01 2021-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 03209186









CASCIANO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
CASCIANO LIMITED
REGISTERED NUMBER: 03209186

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note

Fixed assets
  

Investment property
 4 
1,600,000
1,700,000

  
1,600,000
1,700,000

Current assets
  

Cash at bank and in hand
  
1,584
996

  
1,584
996

Creditors: amounts falling due within one year
 5 
(277,711)
(266,335)

Net current liabilities
  
 
 
(276,127)
 
 
(265,339)

Total assets less current liabilities
  
1,323,873
1,434,661

  

Net assets
  
1,323,873
1,434,661


Capital and reserves
  

Called up share capital 
 6 
716
918

Share premium account
  
850,307
850,307

Revaluation reserve
  
265,613
365,613

Foreign exchange reserve
  
202
-

Profit and loss account
  
207,035
217,823

  
1,323,873
1,434,661


Page 1

 
CASCIANO LIMITED
REGISTERED NUMBER: 03209186
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 August 2022.




Maria E Bergamasco
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CASCIANO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Casciano Limited is a private limited company, limited by shares, incorporated in England and Wales, with its registered office at Belmont House, Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG and principal place of business at Via Canonica 4, San Gimignano, 53037 Siena, Italy.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CASCIANO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 4

 
CASCIANO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

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 evidence of impairment is found, an impairment loss is recognised in the Profit and loss account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Page 5

 
CASCIANO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2020 - 0).


4.


Investment property


Freehold investment property




Valuation


At 1 January 2021
1,700,000


Surplus on revaluation
(100,000)



At 31 December 2021
1,600,000

The 2021 valuations were made by the director, on an open market value for existing use basis.



At 31 December 2021



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2021
2020


Historic cost
1,126,106
1,126,106

1,126,106
1,126,106


5.


Creditors: Amounts falling due within one year

2021
2020

Payments received on account
2,145
2,145

Other creditors
274,122
262,728

Accruals and deferred income
1,444
1,462

277,711
266,335



6.


Share capital

2021
2020
Page 6

 
CASCIANO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

6.Share capital (continued)

Allotted, called up and fully paid



600 (2020 - 600) Ordinary shares of £1.00 each
716
918


 
Page 7