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Registration number: 06703524

Castle Asset Holdings Limited
REPORT OF THE DIRECTORS and Unaudited Financial Statements
for the Year Ended 31 March 2023

Castle Asset Holdings Limited

Contents

Company Information | 1
Balance Sheet | 2 to 3
Notes to the Unaudited Financial Statements | 4 to 7

Castle Asset Holdings Limited

Company Information

Directors | Mr Haydn Wyn Thomas Mr Jason Alan Thomas Evans

Registered office | Unit C6, Capel Hendre Industrial Estate Capel Hendre Ammanford Carmarthenshire SA18 3SJ

Accountants | Wynne & Co Chartered Accountants Forestry House Brewery Road Carmarthen Carmarthenshire SA31 1TF

Castle Asset Holdings Limited

(Registration number: 06703524)
Balance Sheet as at 31 March 2023

| Note | 31 March 2023 £ | 31 March 2022 £
Current assets |  |  |
Debtors | 4 | 63,602 | 63,543
Investments | 5 | 2 | 2
Cash at bank and in hand |  | - | 639
|  | 63,604 | 64,184
Creditors: Amounts falling due within one year | 6 | (540) | (540)
Net assets |  | 63,064 | 63,644
Capital and reserves |  |  |
Called up share capital | 7 | 102 | 102
Retained earnings |  | 62,962 | 63,542
Shareholders' funds |  | 63,064 | 63,644

For the financial year ending 31 March 2023 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 September 2023 and signed on its behalf by:

Castle Asset Holdings Limited

(Registration number: 06703524)
Balance Sheet as at 31 March 2023

......................................... Mr Jason Alan Thomas Evans Director

Castle Asset Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit C6, Capel Hendre Industrial Estate
Capel Hendre
Ammanford
Carmarthenshire
SA18 3SJ

These financial statements were authorised for issue by the Board on 6 September 2023.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Castle Asset Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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 debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Castle Asset Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

4 | Debtors

Current | Note | 31 March 2023 £ | 31 March 2022 £
Amounts owed by related parties |  | 63,602 | 63,543

5 | Current asset investments

| 31 March 2023 £ | 31 March 2022 £
Shares in group undertakings | 2 | 2

Castle Asset Holdings Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2023

6 | Creditors

Creditors: amounts falling due within one year

| 31 March 2023 £ | 31 March 2022 £
Due within one year |  |
Accruals and deferred income | 540 | 540

7 | Share capital

Allotted, called up and fully paid shares

| 31 March 2023 | 31 March 2022
| No. | £ | No. | £
Ordinary of £1 each | 102 | 102 | 102 | 102

8 | Dividends

Interim dividends paid

|  | 31 March 2023 £ |  | 31 March 2022 £
Interim dividend of £1,303.92 (2022 - £1,274.51) per each Ordinary |  | 133,000 |  | 130,000