Caddis Limited 06462703 false 2022-02-01 2023-01-31 2023-01-31 The principal activity of the company is Forestry and Agricultural Services Digita Accounts Production Advanced 6.30.9574.0 true 06462703 2022-02-01 2023-01-31 06462703 2023-01-31 06462703 core:RetainedEarningsAccumulatedLosses 2023-01-31 06462703 core:ShareCapital 2023-01-31 06462703 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-01-31 06462703 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-01-31 06462703 core:CurrentFinancialInstruments 2023-01-31 06462703 core:CurrentFinancialInstruments core:WithinOneYear 2023-01-31 06462703 core:Non-currentFinancialInstruments 2023-01-31 06462703 core:Non-currentFinancialInstruments core:AfterOneYear 2023-01-31 06462703 core:OtherResidualIntangibleAssets 2023-01-31 06462703 core:FurnitureFittingsToolsEquipment 2023-01-31 06462703 core:LandBuildings 2023-01-31 06462703 core:MotorVehicles 2023-01-31 06462703 core:OtherPropertyPlantEquipment 2023-01-31 06462703 bus:SmallEntities 2022-02-01 2023-01-31 06462703 bus:AuditExemptWithAccountantsReport 2022-02-01 2023-01-31 06462703 bus:FullAccounts 2022-02-01 2023-01-31 06462703 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 06462703 bus:RegisteredOffice 2022-02-01 2023-01-31 06462703 bus:CompanySecretaryDirector1 2022-02-01 2023-01-31 06462703 bus:Director1 2022-02-01 2023-01-31 06462703 bus:Director2 2022-02-01 2023-01-31 06462703 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 06462703 core:IntangibleAssetsOtherThanGoodwill 2022-02-01 2023-01-31 06462703 core:OtherResidualIntangibleAssets 2022-02-01 2023-01-31 06462703 core:FurnitureFittings 2022-02-01 2023-01-31 06462703 core:FurnitureFittingsToolsEquipment 2022-02-01 2023-01-31 06462703 core:LandBuildings 2022-02-01 2023-01-31 06462703 core:MotorVehicles 2022-02-01 2023-01-31 06462703 core:OfficeEquipment 2022-02-01 2023-01-31 06462703 core:OtherPropertyPlantEquipment 2022-02-01 2023-01-31 06462703 core:PlantMachinery 2022-02-01 2023-01-31 06462703 countries:AllCountries 2022-02-01 2023-01-31 06462703 2022-01-31 06462703 core:OtherResidualIntangibleAssets 2022-01-31 06462703 core:FurnitureFittingsToolsEquipment 2022-01-31 06462703 core:LandBuildings 2022-01-31 06462703 core:MotorVehicles 2022-01-31 06462703 core:OtherPropertyPlantEquipment 2022-01-31 06462703 2021-02-01 2022-01-31 06462703 2022-01-31 06462703 core:RetainedEarningsAccumulatedLosses 2022-01-31 06462703 core:ShareCapital 2022-01-31 06462703 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-01-31 06462703 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-01-31 06462703 core:CurrentFinancialInstruments 2022-01-31 06462703 core:CurrentFinancialInstruments core:WithinOneYear 2022-01-31 06462703 core:Non-currentFinancialInstruments 2022-01-31 06462703 core:Non-currentFinancialInstruments core:AfterOneYear 2022-01-31 06462703 core:OtherResidualIntangibleAssets 2022-01-31 06462703 core:FurnitureFittingsToolsEquipment 2022-01-31 06462703 core:LandBuildings 2022-01-31 06462703 core:MotorVehicles 2022-01-31 06462703 core:OtherPropertyPlantEquipment 2022-01-31 iso4217:GBP xbrli:pure

Registration number: 06462703

Caddis Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2023

 

Caddis Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Caddis Limited

Company Information

Directors

Mrs J L Kellett

Mr P J Kellett

Mr R J Kellett

Company secretary

Mr R J Kellett

Registered office

Woodcutters
Bunce Lane
Marton
Macclesfield
Cheshire
SK11 9HQ

 

Caddis Limited

(Registration number: 06462703)
Balance Sheet as at 31 January 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

34,087

43,921

Tangible assets

5

421,447

412,565

 

455,534

456,486

Current assets

 

Stocks

6

13,380

12,636

Debtors

7

55,394

46,497

Cash at bank and in hand

 

65,389

50,392

 

134,163

109,525

Creditors: Amounts falling due within one year

8

(72,101)

(58,326)

Net current assets

 

62,062

51,199

Total assets less current liabilities

 

517,596

507,685

Creditors: Amounts falling due after more than one year

8

(142,024)

(152,054)

Net assets

 

375,572

355,631

Capital and reserves

 

Called up share capital

100

100

Retained earnings

375,472

355,531

Shareholders' funds

 

375,572

355,631

 

Caddis Limited

(Registration number: 06462703)
Balance Sheet as at 31 January 2023

For the financial year ending 31 January 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 5 July 2023 and signed on its behalf by:
 

.........................................
Mr R J Kellett
Company secretary and director

 

Caddis Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Woodcutters
Bunce Lane
Marton
Macclesfield
Cheshire
SK11 9HQ

These financial statements were authorised for issue by the Board on 5 July 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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Caddis Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% on a Reducing Balance

Fixtures and fittings

25% on a Straight line basis

Office Equiptment

25% on Reducing Balance

Motor Vehicles

20% on a Straight line basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Research and Development costs

Straight line over 7 years

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Caddis Limited

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

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

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.

 

Caddis Limited

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

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Intangible assets

Research and development
£

Total
£

Cost or valuation

At 1 February 2022

68,839

68,839

At 31 January 2023

68,839

68,839

Amortisation

At 1 February 2022

24,918

24,918

Amortisation charge

9,834

9,834

At 31 January 2023

34,752

34,752

Carrying amount

At 31 January 2023

34,087

34,087

At 31 January 2022

43,921

43,921

 

Caddis Limited

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

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 February 2022

68,051

5,285

41,262

638,201

752,799

Additions

-

2,016

-

61,595

63,611

At 31 January 2023

68,051

7,301

41,262

699,796

816,410

Depreciation

At 1 February 2022

-

2,889

41,262

296,083

340,234

Charge for the year

-

865

-

53,864

54,729

At 31 January 2023

-

3,754

41,262

349,947

394,963

Carrying amount

At 31 January 2023

68,051

3,547

-

349,849

421,447

At 31 January 2022

68,051

2,396

-

342,118

412,565

Included within the net book value of land and buildings above is £68,051 (2022 - £68,051) in respect of freehold land and buildings.
 

 

Caddis Limited

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

6

Stocks

2023
£

2022
£

Closing stock

13,380

12,636

7

Debtors

Current

2023
£

2022
£

Trade debtors

44,060

36,414

Prepayments

11,334

10,083

 

55,394

46,497

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

28,841

26,119

Trade creditors

 

4,669

6,041

Taxation and social security

 

34,336

22,458

Accruals and deferred income

 

-

395

Credit card

 

4,255

3,313

 

72,101

58,326

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

142,024

152,054

 

Caddis Limited

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

9

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

32,535

42,462

Hire purchase contracts

41,158

49,898

Directors loan account

68,331

59,694

142,024

152,054

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

3,980

Hire purchase contracts

28,841

22,139

28,841

26,119