Caseware UK (AP4) 2022.0.179 2022.0.179 2022-07-312022-07-312021-08-01falseProvision of primary education2419falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05477547 2021-08-01 2022-07-31 05477547 2020-08-01 2021-07-31 05477547 2022-07-31 05477547 2021-07-31 05477547 c:Director1 2021-08-01 2022-07-31 05477547 d:Buildings 2021-08-01 2022-07-31 05477547 d:Buildings 2022-07-31 05477547 d:Buildings 2021-07-31 05477547 d:Buildings d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 05477547 d:Buildings d:LongLeaseholdAssets 2021-08-01 2022-07-31 05477547 d:Buildings d:LongLeaseholdAssets 2022-07-31 05477547 d:Buildings d:LongLeaseholdAssets 2021-07-31 05477547 d:PlantMachinery 2021-08-01 2022-07-31 05477547 d:PlantMachinery 2022-07-31 05477547 d:PlantMachinery 2021-07-31 05477547 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 05477547 d:OfficeEquipment 2021-08-01 2022-07-31 05477547 d:OfficeEquipment 2022-07-31 05477547 d:OfficeEquipment 2021-07-31 05477547 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 05477547 d:OwnedOrFreeholdAssets 2021-08-01 2022-07-31 05477547 d:CurrentFinancialInstruments 2022-07-31 05477547 d:CurrentFinancialInstruments 2021-07-31 05477547 d:Non-currentFinancialInstruments 2022-07-31 05477547 d:Non-currentFinancialInstruments 2021-07-31 05477547 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05477547 d:CurrentFinancialInstruments d:WithinOneYear 2021-07-31 05477547 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 05477547 d:Non-currentFinancialInstruments d:AfterOneYear 2021-07-31 05477547 d:ShareCapital 2022-07-31 05477547 d:ShareCapital 2021-07-31 05477547 d:SharePremium 2022-07-31 05477547 d:SharePremium 2021-07-31 05477547 d:RetainedEarningsAccumulatedLosses 2022-07-31 05477547 d:RetainedEarningsAccumulatedLosses 2021-07-31 05477547 c:OrdinaryShareClass1 2021-08-01 2022-07-31 05477547 c:OrdinaryShareClass1 2022-07-31 05477547 c:OrdinaryShareClass1 2021-07-31 05477547 c:FRS102 2021-08-01 2022-07-31 05477547 c:AuditExempt-NoAccountantsReport 2021-08-01 2022-07-31 05477547 c:FullAccounts 2021-08-01 2022-07-31 05477547 c:PrivateLimitedCompanyLtd 2021-08-01 2022-07-31 05477547 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 05477547 d:AcceleratedTaxDepreciationDeferredTax 2021-07-31 05477547 d:TaxLossesCarry-forwardsDeferredTax 2022-07-31 05477547 d:TaxLossesCarry-forwardsDeferredTax 2021-07-31 05477547 d:OtherDeferredTax 2022-07-31 05477547 d:OtherDeferredTax 2021-07-31 05477547 6 2021-08-01 2022-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05477547









CANTABILE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2022

 
CANTABILE LIMITED
REGISTERED NUMBER: 05477547

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,896,317
1,925,683

Investments
 5 
46,663
52,621

  
1,942,980
1,978,304

Current assets
  

Stocks
  
2,110
3,350

Debtors: amounts falling due within one year
 6 
97,910
105,777

Cash at bank and in hand
  
65,220
105,723

  
165,240
214,850

Creditors: amounts falling due within one year
 7 
(425,774)
(491,271)

Net current liabilities
  
 
 
(260,534)
 
 
(276,421)

Total assets less current liabilities
  
1,682,446
1,701,883

Creditors: amounts falling due after more than one year
 8 
(903,994)
(950,663)

Provisions for liabilities
  

Deferred tax
 9 
(53,900)
(53,304)

  
 
 
(53,900)
 
 
(53,304)

Net assets
  
724,552
697,916


Capital and reserves
  

Called up share capital 
 10 
370,100
370,100

Share premium account
  
26,927
26,927

Profit and loss account
  
327,525
300,889

  
724,552
697,916


Page 1

 
CANTABILE LIMITED
REGISTERED NUMBER: 05477547
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2022

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 income and retained earnings 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: 




G R L Fysh
Director

Date: 25 October 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

1.


General information

The principal activity of the company is the provision of  primary education.
The company is a private company limited by shares and is incorporated in England and Wales under company number 05477547.
The address of its registered office is Avenue Nursery and Pre Prep, 2 Highgate Avenue, London, England N6 5RX.

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

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:

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.

Turnover comprises school fee and rental income and is recognised on an accruals  basis.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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  and reducing balance methods.

Depreciation is provided on the following basis:

Property improvements
-
2% per annum on cost
Long-term leasehold property
-
2% per annum on cost
Computer equipment
-
33.3% per annum on cost
Equipment
-
15% per annum on net book value

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.

 
2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

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.

Page 4

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.9

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 to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, 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 or the statement of comprehensive income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) 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.

(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

Page 5

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

2.Accounting policies (continued)

 
2.10

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 24 (2021 - 19).


4.


Tangible fixed assets





Freehold & property improve-ments
Long-term leasehold property
Computer equipment
Fixtures & Equipment
Total

£
£
£
£
£



Cost or valuation


At 1 August 2021
361,318
1,478,174
28,953
406,516
2,274,961


Additions
16,464
-
3,595
27,207
47,266



At 31 July 2022

377,782
1,478,174
32,548
433,723
2,322,227



Depreciation


At 1 August 2021
51,480
98,349
28,469
170,980
349,278


Charge for the year on owned assets
6,737
29,562
1,681
38,652
76,632



At 31 July 2022

58,217
127,911
30,150
209,632
425,910



Net book value



At 31 July 2022
319,565
1,350,263
2,398
224,091
1,896,317



At 31 July 2021
309,838
1,379,825
484
235,536
1,925,683

Page 6

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 August 2021
27,121
25,500
52,621


Revaluations
(5,958)
-
(5,958)



At 31 July 2022
21,163
25,500
46,663




The directors consider the unlisted investments to be valued at equal to the cost.


6.


Debtors

2022
2021
£
£


Other debtors
97,910
87,027

Prepayments and accrued income
-
18,750

97,910
105,777



7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank loans
46,150
46,150

Trade creditors
251,428
275,429

Corporation tax
20,134
-

Other taxation and social security
13,797
12,300

Other creditors
86,265
144,704

Accruals and deferred income
8,000
12,688

425,774
491,271


Page 7

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
903,994
950,663

903,994
950,663


The loans from Barclays Bank Plc, amounting to £911,811 (2020 - £948,480), shown under creditors falling due within one year and creditors falling due after more than one year are secured by a fixed and floating charge over the assets of the company.


9.


Deferred taxation




2022


£






At beginning of year
(53,304)


Charged to profit or loss
(596)



At end of year
(53,900)

The provision for deferred taxation is made up as follows:

2022
2021
£
£


Accelerated capital allowances
(55,393)
(58,291)

Tax losses carried forward
-
3,422

Short term timing differences
1,493
1,565

(53,900)
(53,304)


10.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



370,100 (2021 - 370,100) Ordinary shares of £1.00 each
370,100
370,100


Page 8

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2022

11.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Employers' portion of contributions totalling £5,972 (2021: £6,262) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

Certain directors received rent of £37,500 from the the company during the year (2021: £37,500).
Included in other creditors is a balance of £76,731 (2021: £134,892) due to M & R Fysh, the directors of the company. The amount is unsecured and interest-free, with no fixed repayment date. 

 
Page 9