Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-311true2022-04-01falseManufacturer of machinery for food, beverage and tobacco processing1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08278741 2022-04-01 2023-03-31 08278741 2021-04-01 2022-03-31 08278741 2023-03-31 08278741 2022-03-31 08278741 c:Director1 2022-04-01 2023-03-31 08278741 d:PlantMachinery 2022-04-01 2023-03-31 08278741 d:PlantMachinery 2023-03-31 08278741 d:PlantMachinery 2022-03-31 08278741 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08278741 d:FurnitureFittings 2022-04-01 2023-03-31 08278741 d:FurnitureFittings 2023-03-31 08278741 d:FurnitureFittings 2022-03-31 08278741 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08278741 d:OfficeEquipment 2022-04-01 2023-03-31 08278741 d:OfficeEquipment 2023-03-31 08278741 d:OfficeEquipment 2022-03-31 08278741 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08278741 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08278741 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 08278741 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 08278741 d:Goodwill 2023-03-31 08278741 d:Goodwill 2022-03-31 08278741 d:CurrentFinancialInstruments 2023-03-31 08278741 d:CurrentFinancialInstruments 2022-03-31 08278741 d:Non-currentFinancialInstruments 2023-03-31 08278741 d:Non-currentFinancialInstruments 2022-03-31 08278741 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08278741 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08278741 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08278741 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08278741 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08278741 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 08278741 d:ShareCapital 2023-03-31 08278741 d:ShareCapital 2022-03-31 08278741 d:RetainedEarningsAccumulatedLosses 2023-03-31 08278741 d:RetainedEarningsAccumulatedLosses 2022-03-31 08278741 c:FRS102 2022-04-01 2023-03-31 08278741 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08278741 c:FullAccounts 2022-04-01 2023-03-31 08278741 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08278741 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:InternallyGeneratedIntangibleAssets 2022-04-01 2023-03-31 08278741 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2022-04-01 2023-03-31 08278741 d:InternallyGeneratedIntangibleAssets 2022-04-01 2023-03-31 08278741 d:Goodwill d:OwnedIntangibleAssets 2022-04-01 2023-03-31 08278741 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 08278741









CUSTOM LABORATORY PRODUCTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CUSTOM LABORATORY PRODUCTS LIMITED
REGISTERED NUMBER: 08278741

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
209,936
234,152

Tangible assets
 5 
-
40

  
209,936
234,192

Current assets
  

Stocks
  
10,000
29,307

Debtors: amounts falling due within one year
 6 
57,803
136,712

Cash at bank and in hand
 7 
15,806
19,729

  
83,609
185,748

Creditors: amounts falling due within one year
 8 
(390,048)
(735,599)

Net current liabilities
  
 
 
(306,439)
 
 
(549,851)

Total assets less current liabilities
  
(96,503)
(315,659)

Creditors: amounts falling due after more than one year
 9 
(22,500)
(31,424)

  

Net liabilities
  
(119,003)
(347,083)


Capital and reserves
  

Called up share capital 
  
201
201

Profit and loss account
  
(119,204)
(347,284)

  
(119,003)
(347,083)


Page 1

 
CUSTOM LABORATORY PRODUCTS LIMITED
REGISTERED NUMBER: 08278741
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges his 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 statement of comprehensive income 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 by: 




H S Marles
Director
Date: 3 October 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Custom Laboratory Products Limited is a company limited by shares, incorporated in England and Wales.
The principal activity of the company was that of supply and maintenance of eco friendly water cleansing systems.

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

Going concern

The director considers that the company has sufficient funding for the foreseeable future in the form of group and director support.
The financial statements have therefore been prepared as a going concern on the basis that the company is expected to continue in operational existence for the foreseeable future.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.5

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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.

 
2.9

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant & machinery
-
straight line over 4 years
Fixtures & fittings
-
straight line over 4 years
Office equipment
-
straight line over 4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.13

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.

 
2.14

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.

 
2.15

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 6

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Development expenditure
Goodwill
Total

£
£
£



Cost


At 1 April 2022
317,525
154,000
471,525


Additions - internal
44,958
-
44,958



At 31 March 2023

362,483
154,000
516,483



Amortisation


At 1 April 2022
83,373
154,000
237,373


Charge for the year on owned assets
69,174
-
69,174



At 31 March 2023

152,547
154,000
306,547



Net book value



At 31 March 2023
209,936
-
209,936



At 31 March 2022
234,152
-
234,152



Page 7

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Plant & machinery
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
14,876
3,571
2,073
20,520


Disposals
(329)
-
-
(329)



At 31 March 2023

14,547
3,571
2,073
20,191



Depreciation


At 1 April 2022
14,876
3,531
2,073
20,480


Charge for the year on owned assets
-
40
-
40


Disposals
(329)
-
-
(329)



At 31 March 2023

14,547
3,571
2,073
20,191



Net book value



At 31 March 2023
-
-
-
-



At 31 March 2022
-
40
-
40


6.


Debtors

2023
2022
£
£


Trade debtors
57,803
136,370

Prepayments and accrued income
-
342

57,803
136,712



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
15,806
19,729

15,806
19,729


Page 8

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
11,076

Trade creditors
35,246
7,009

Amounts owed to group undertakings
289,055
410,183

Corporation tax
3,247
-

Other creditors
-
27,495

Accruals and deferred income
52,500
279,836

390,048
735,599



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
22,500
31,424

22,500
31,424



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
11,076


10,000
11,076


Amounts falling due 2-5 years

Bank loans
22,500
31,424


22,500
31,424


32,500
42,500


Page 9

 
CUSTOM LABORATORY PRODUCTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Related party transactions

At the balance sheet date the company owed £289,055 (2022: £410,183) to companies under common control.


12.


Controlling party

The ultimate parent company is Curio Group Limited, a company incorporated in England and Wales.

 
Page 10