Silverfin false 31/03/2023 01/04/2022 31/03/2023 Liliane De Pierredon-Fawcett Andreas Marvin Kater 11/10/2018 12 October 2023 The principal activity of the Company during the financial year was that of property rental. 02050427 2023-03-31 02050427 bus:Director2 2023-03-31 02050427 2022-03-31 02050427 core:CurrentFinancialInstruments 2023-03-31 02050427 core:CurrentFinancialInstruments 2022-03-31 02050427 core:Non-currentFinancialInstruments 2023-03-31 02050427 core:Non-currentFinancialInstruments 2022-03-31 02050427 core:ShareCapital 2023-03-31 02050427 core:ShareCapital 2022-03-31 02050427 core:RevaluationReserve 2023-03-31 02050427 core:RevaluationReserve 2022-03-31 02050427 core:RetainedEarningsAccumulatedLosses 2023-03-31 02050427 core:RetainedEarningsAccumulatedLosses 2022-03-31 02050427 core:FurnitureFittings 2022-03-31 02050427 core:ComputerEquipment 2022-03-31 02050427 core:FurnitureFittings 2023-03-31 02050427 core:ComputerEquipment 2023-03-31 02050427 2021-03-31 02050427 2022-04-01 2023-03-31 02050427 bus:FullAccounts 2022-04-01 2023-03-31 02050427 bus:SmallEntities 2022-04-01 2023-03-31 02050427 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 02050427 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02050427 bus:Director1 2022-04-01 2023-03-31 02050427 bus:Director2 2022-04-01 2023-03-31 02050427 core:FurnitureFittings 2022-04-01 2023-03-31 02050427 core:ComputerEquipment core:TopRangeValue 2022-04-01 2023-03-31 02050427 2021-04-01 2022-03-31 02050427 core:ComputerEquipment 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 02050427 (England and Wales)

CATCO LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

CATCO LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

CATCO LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
CATCO LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 31.03.2023 31.03.2022
£ £
Fixed assets
Tangible assets 3 6,149 6,782
Investment property 4 1,500,000 1,500,000
Investments 73,750 99,498
1,579,899 1,606,280
Current assets
Stocks 72,202 72,202
Cash at bank and in hand 5 102,663 96,889
174,865 169,091
Creditors: amounts falling due within one year 6 ( 3,681) ( 5,962)
Net current assets 171,184 163,129
Total assets less current liabilities 1,751,083 1,769,409
Creditors: amounts falling due after more than one year ( 261,774) ( 261,774)
Net assets 1,489,309 1,507,635
Capital and reserves
Called-up share capital 1,000 1,000
Revaluation reserve 1,328,400 1,328,400
Profit and loss account 159,909 178,235
Total shareholders' funds 1,489,309 1,507,635

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 financial statements of Catco Limited (registered number: 02050427) were approved and authorised for issue by the Director. They were signed on its behalf by:

Liliane De Pierredon-Fawcett
Director

12 October 2023

CATCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
CATCO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Catco Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 37 Chepstow Road, London, W2 5BP, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 15 % reducing balance
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings/Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Comprehensive Income. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

31.03.2023 31.03.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Fixtures and fittings Computer equipment Total
£ £ £
Cost
At 01 April 2022 32,056 8,529 40,585
At 31 March 2023 32,056 8,529 40,585
Accumulated depreciation
At 01 April 2022 25,990 7,813 33,803
Charge for the financial year 275 358 633
At 31 March 2023 26,265 8,171 34,436
Net book value
At 31 March 2023 5,791 358 6,149
At 31 March 2022 6,066 716 6,782

4. Investment property

Investment property
£
Valuation
As at 01 April 2022 1,500,000
As at 31 March 2023 1,500,000

Valuation

The 2023 valuations were made by the director, on an open market value for existing use basis.

Historic cost

If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:

31.03.2023 31.03.2022
£ £
Historic cost 154,211 154,211

5. Cash and cash equivalents

31.03.2023 31.03.2022
£ £
Cash at bank and in hand 102,663 96,889

6. Creditors: amounts falling due within one year

31.03.2023 31.03.2022
£ £
Taxation and social security 381 2,960
Other creditors 3,300 3,002
3,681 5,962

7. Deferred tax

31.03.2023 31.03.2022
£ £
At the beginning of financial year ( 261,774) ( 261,774)
At the end of financial year ( 261,774) ( 261,774)

8. Related party transactions

Other related party transactions

31.03.2023 31.03.2022
£ £
Rental income was received from a company connected to the director of Catco Ltd. 30,000 30,000