REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2022 |
FOR |
CASONA EUROPE LTD |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
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 |
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 |
DEPRECIATION |
At 1 January 2022 |
Charge for year |
At 31 December 2022 |
NET BOOK VALUE |
At 31 December 2022 |
At 31 December 2021 |
5. | DEBTORS |
31.12.22 | 31.12.21 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by participating interests | - | 2,233,733 |
Aggregate amounts |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.22 | 31.12.21 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors & accruals |
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 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.22 | 31.12.21 |
value: | £ | £ |
Ordinary class A | £1 | 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. |