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REGISTERED NUMBER: 06507180 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

CASONA EUROPE LTD

CASONA EUROPE LTD (REGISTERED NUMBER: 06507180)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CASONA EUROPE LTD

COMPANY INFORMATION
for the Year Ended 31 December 2022







DIRECTORS: C S Sorenson
D Calligeros





SECRETARY: C S Sorenson





REGISTERED OFFICE: 10 John Street
London
WC1N 2EB





REGISTERED NUMBER: 06507180 (England and Wales)





ACCOUNTANTS: Oury Clark Chartered Accountants
Herschel House
58 Herschel Street
Slough
Berkshire
SL1 1PG

CASONA EUROPE LTD (REGISTERED NUMBER: 06507180)

BALANCE SHEET
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 5

CURRENT ASSETS
Debtors 5 2,322,744 2,268,599
Cash at bank 2,931 64,231
2,325,675 2,332,830
CREDITORS
Amounts falling due within one year 6 626,907 680,800
NET CURRENT ASSETS 1,698,768 1,652,030
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,698,768

1,652,035

CREDITORS
Amounts falling due after more than one
year

7

-

187,510
NET ASSETS 1,698,768 1,464,525

CAPITAL AND RESERVES
Called up share capital 9 6 6
Retained earnings 1,698,762 1,464,519
SHAREHOLDERS' FUNDS 1,698,768 1,464,525

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

CASONA EUROPE LTD (REGISTERED NUMBER: 06507180)

BALANCE SHEET - continued
31 December 2022


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 Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





C S Sorenson - Director


CASONA EUROPE LTD (REGISTERED NUMBER: 06507180)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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
Fixed assets are initially measured at cost.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and Fittings - Straight line over 5 years
Office Equipment - Straight line over 3 years

Financial instruments
Basic financial instruments, as covered by Section 11 of FRS 102, are measured at amortised cost. The company does not have any other financial instruments, as covered by Section 12 of FRS 102.

Taxation
Taxation for the year comprises current 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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account from settlement of transactions in foreign currencies when arriving at the operating result.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

CASONA EUROPE LTD (REGISTERED NUMBER: 06507180)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 65,148
DEPRECIATION
At 1 January 2022 65,143
Charge for year 5
At 31 December 2022 65,148
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 5

5. DEBTORS
31.12.22 31.12.21
£    £   
Amounts falling due within one year:
Trade debtors 3,263 3,287
Amounts owed by group undertakings 2,274,770 -
Other debtors 44,711 31,579
2,322,744 34,866

Amounts falling due after more than one year:
Amounts owed by participating interests - 2,233,733

Aggregate amounts 2,322,744 2,268,599

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 131,153 205,731
Amounts owed to group undertakings 187,510 -
Taxation and social security 57,581 5,813
Other creditors & accruals 250,663 469,256
626,907 680,800

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Amounts owed to participating interests - 187,510

CASONA EUROPE LTD (REGISTERED NUMBER: 06507180)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.22 31.12.21
£    £   
Within one year 14,081 47,876

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
3 Ordinary class A £1 3 3
3 Ordinary class B £1 3 3
6 6

10. RELATED PARTY DISCLOSURES

The Nanz Company and Aesthetonics Inc Dba Remains Lighting are both US residents and are considered a related party as each own 50% of the ordinary share capital of Casona Europe Limited.

A capital loan amounting to £187,510 (2021 - £187,510) from Aesthetonics Inc Dba Remains Lighting is outstanding at the year end. This balance does not carry a right to interest and is repayable based on divisional profits in US Dollars.

Payments made to The Nanz Company totalled £110,000 (2021 - £28,000) by way of advances on deposits held on stock with £2,274,770 (2021 - £2,233,733) outstanding at the year end due to Casona Europe Limited. The loan to The Nanz Company does not attract interest and is repayable on demand. As the deposits represents confirmation of orders, it is believed these monies will continue to be paid in advance to cover the cost of production.

Under normal trading, goods were supplied to Casona Europe Limited by The Nanz Company amounting to £589,502.51 (2021 - £422,608) with £27,564 (2021 - £10,412) outstanding at year end.

11. ULTIMATE CONTROLLING PARTY

There is no controlling or ultimate controlling party.