REGISTERED NUMBER: |
CANDELISA LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
REGISTERED NUMBER: |
CANDELISA LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
CANDELISA LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Birkbeck Suite G2 |
Water Street |
Skipton |
BD23 1PB |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
BALANCE SHEET |
30 APRIL 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 | 629,575 |
Investments | 5 |
CURRENT ASSETS |
Work in progress |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings | 9 | 4,265,721 |
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. |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
BALANCE SHEET - continued |
30 APRIL 2023 |
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 |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2023 |
1. | STATUTORY INFORMATION |
Candelisa Limited is a |
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 |
Freehold property | - |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stock and work in progress |
Work in progress is valued at the lower of cost and net realisable value. All losses are accounted for as they occur and written off to profit and loss account. A proportion of the fixed annual overhead is included within the work in progress figure. |
Taxation |
Taxation for the year comprises current and deferred 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 or deferred 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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. |
Non depreciation of freehold property |
No depreciation has been applied to freehold land and buildings as the directors are of the opinion that the net book value of the asset is at least equivalent to its current valuation. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2022 |
Additions |
Disposals | ( |
) |
Revaluations |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
Revaluations |
At 30 April 2023 |
DEPRECIATION |
At 1 May 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
Included in cost or valuation of land and buildings is freehold land of £ 420,000 (2022 - £ 420,000 ) which is not depreciated. |
Cost or valuation at 30 April 2023 is represented by: |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
Valuation in 2016 | 169,359 | - | - |
Valuation in 2023 | 385,000 | - | - |
Cost | 250,641 | 226,278 | 13,486 |
805,000 | 226,278 | 13,486 |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
Valuation in 2016 | - | - | 169,359 |
Valuation in 2023 | - | - | 385,000 |
Cost | 25,708 | 22,855 | 538,968 |
25,708 | 22,855 | 1,093,327 |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
4. | TANGIBLE FIXED ASSETS - continued |
If freehold land & buildings had not been revalued they would have been included at the following historical cost: |
2023 | 2022 |
£ | £ |
Cost | 250,641 | - |
Freehold land & buildings were valued on an open market basis on 30 April 2023 by the directors . |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 May 2022 |
and 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
At 30 April 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
VAT |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Tax |
Social security and other taxes |
Subcontractors tax | 10,183 | 2,647 |
Other creditors |
Directors' current accounts | 49,226 | - |
Accrued expenses |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other loans - 1-2 years |
Hire purchase contracts |
9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 May 2022 | 4,435,080 |
Profit for the year |
Dividends | ( |
) | ( |
) |
Revaluation of Property | (385,000 | ) | 385,000 | - |
Deferred tax | 138,590 | (138,590 | ) | - |
At 30 April 2023 | 4,945,742 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30 April 2023 and 30 April 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
During the year, G A Taylor made a loan to the company of £175,000. This was repaid and the balance owing at the balance sheet date is £nil. G A Taylor did not charge interest to Candelisa Limited. |
11. | RELATED PARTY DISCLOSURES |
Mirabelle Partners Limited |
Mirabelle Partners Limited have continued to support the company by way of a long term loan facility to support the initial set up of the company. The loan outstanding at the start of the year was £350,000 and during the course of the year this was repaid. The balance owing at the balance sheet date was £nil. Mirabelle Partners Limited has charged interest to Candelisa Limited in the sum of £1,801 (2022: £12,527) during the year. |
CANDELISA LIMITED (REGISTERED NUMBER: 06553166) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2023 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party of the company are the shareholders, namely Guy Taylor, and Mirabelle Partners Limited who own 100% of the issued share capital. |