Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true2022-04-01falseEngineering activities.1213falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08207271 2022-04-01 2023-03-31 08207271 2021-04-01 2022-03-31 08207271 2023-03-31 08207271 2022-03-31 08207271 c:Director1 2022-04-01 2023-03-31 08207271 d:MotorVehicles 2022-04-01 2023-03-31 08207271 d:MotorVehicles 2023-03-31 08207271 d:MotorVehicles 2022-03-31 08207271 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08207271 d:FurnitureFittings 2022-04-01 2023-03-31 08207271 d:FurnitureFittings 2023-03-31 08207271 d:FurnitureFittings 2022-03-31 08207271 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08207271 d:OfficeEquipment 2022-04-01 2023-03-31 08207271 d:OfficeEquipment 2023-03-31 08207271 d:OfficeEquipment 2022-03-31 08207271 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08207271 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08207271 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-03-31 08207271 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-03-31 08207271 d:CurrentFinancialInstruments 2023-03-31 08207271 d:CurrentFinancialInstruments 2022-03-31 08207271 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08207271 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08207271 d:ShareCapital 2023-03-31 08207271 d:ShareCapital 2022-03-31 08207271 d:RetainedEarningsAccumulatedLosses 2023-03-31 08207271 d:RetainedEarningsAccumulatedLosses 2022-03-31 08207271 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 08207271 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 08207271 c:FRS102 2022-04-01 2023-03-31 08207271 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08207271 c:FullAccounts 2022-04-01 2023-03-31 08207271 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08207271 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2022-04-01 2023-03-31 08207271 6 2022-04-01 2023-03-31 08207271 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 08207271









CURIO GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
CURIO GROUP LIMITED
REGISTERED NUMBER: 08207271

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
402,217
457,817

Tangible assets
 5 
8,675
11,290

Investments
 6 
302
402

  
411,194
469,509

Current assets
  

Stocks
  
177
21,982

Debtors: amounts falling due within one year
 7 
1,799,856
1,307,979

Cash at bank and in hand
 8 
539,511
35,147

  
2,339,544
1,365,108

Creditors: amounts falling due within one year
 9 
(1,690,617)
(993,643)

Net current assets
  
 
 
648,927
 
 
371,465

Total assets less current liabilities
  
1,060,121
840,974

  

Net assets
  
1,060,121
840,974


Capital and reserves
  

Called up share capital 
  
1,201
1,201

Profit and loss account
  
1,058,920
839,773

  
1,060,121
840,974


Page 1

 
CURIO GROUP LIMITED
REGISTERED NUMBER: 08207271
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider 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 directors acknowledge their 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 on 3 October 2023.




H S Marles
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Curio Group Limited is a company limited by shares, incorporated in England and Wales.
The principal activity of the company was that of engineering activities.

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

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

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

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

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
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.

Page 5

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
25%
reducing balance
Office equipment
-

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.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

Financial instruments

Page 6

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)

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.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 13).

Page 7

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Development expenditure

£



Cost


At 1 April 2022
529,561


Additions
57,875



At 31 March 2023

587,436



Amortisation


At 1 April 2022
71,744


Charge for the year on owned assets
113,475



At 31 March 2023

185,219



Net book value



At 31 March 2023
402,217



At 31 March 2022
457,817



Page 8

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
58
12,809
1,972
14,839


Additions
-
-
793
793


Disposals
-
(94)
(471)
(565)



At 31 March 2023

58
12,715
2,294
15,067



Depreciation


At 1 April 2022
14
3,202
332
3,548


Charge for the year on owned assets
14
2,388
442
2,844



At 31 March 2023

28
5,590
774
6,392



Net book value



At 31 March 2023
30
7,125
1,520
8,675



At 31 March 2022
44
9,606
1,640
11,290


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 April 2022
402


Disposals
(100)



At 31 March 2023
302





7.


Debtors

2023
2022
£
£

Page 9

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.Debtors (continued)


Trade debtors
461,455
394,312

Amounts owed by group undertakings
297,169
410,183

Other debtors
404,288
494,664

Prepayments and accrued income
636,944
8,820

1,799,856
1,307,979



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
539,512
35,147

539,512
35,147



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
165,000
240,228

Trade creditors
422,951
104,124

Amounts owed to group undertakings
346,330
431,380

Corporation tax
117,357
-

Other taxation and social security
251,045
213,673

Other creditors
2,247
3,463

Accruals and deferred income
385,687
775

1,690,617
993,643


Page 10

 
CURIO GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
539,512
35,147




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £10,248 (2022: £12,644).


12.


Related party transactions

At the balance sheet date the company owed £49,161 (2022: £21,197) to companies under common control.

 
Page 11