Cavingham Ltd 13179578 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is 68209 - Other letting and operating of own or leased real estate Digita Accounts Production Advanced 6.30.9574.0 true true 13179578 2022-04-01 2023-03-31 13179578 2023-03-31 13179578 bus:OrdinaryShareClass1 bus:OtherShareType 2023-03-31 13179578 core:CurrentFinancialInstruments 2023-03-31 13179578 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 13179578 core:Non-currentFinancialInstruments 2023-03-31 13179578 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 13179578 core:FurnitureFittingsToolsEquipment 2023-03-31 13179578 bus:SmallEntities 2022-04-01 2023-03-31 13179578 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 13179578 bus:FullAccounts 2022-04-01 2023-03-31 13179578 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 13179578 bus:RegisteredOffice 2022-04-01 2023-03-31 13179578 bus:Director1 2022-04-01 2023-03-31 13179578 bus:Director2 2022-04-01 2023-03-31 13179578 bus:Director3 2022-04-01 2023-03-31 13179578 bus:Director4 2022-04-01 2023-03-31 13179578 bus:OrdinaryShareClass1 bus:OtherShareType 2022-04-01 2023-03-31 13179578 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 13179578 core:FurnitureFittings 2022-04-01 2023-03-31 13179578 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 13179578 core:PlantMachinery 2022-04-01 2023-03-31 13179578 countries:EnglandWales 2022-04-01 2023-03-31 13179578 2022-03-31 13179578 core:FurnitureFittingsToolsEquipment 2022-03-31 13179578 2021-02-04 2022-03-31 13179578 2022-03-31 13179578 bus:OrdinaryShareClass1 bus:OtherShareType 2022-03-31 13179578 core:CurrentFinancialInstruments 2022-03-31 13179578 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 13179578 core:Non-currentFinancialInstruments 2022-03-31 13179578 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 13179578 core:FurnitureFittingsToolsEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 13179578

Cavingham Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2023

 

Cavingham Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Cavingham Ltd

Company Information

Directors

Mr W Evans

Mrs A Evans

Mr J H Evans

Mr W A Evans

Registered office

Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

Accountants

Regulatory Accounting Ltd
T/A Optimum Professional Services
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE

 

Cavingham Ltd

(Registration number: 13179578)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

10,641

12,033

Investment property

6

1,190,000

470,000

 

1,200,641

482,033

Current assets

 

Debtors

7

2,000

273,211

Cash at bank and in hand

 

15,965

1,412

 

17,965

274,623

Creditors: Amounts falling due within one year

8

(244,206)

(403,027)

Net current liabilities

 

(226,241)

(128,404)

Total assets less current liabilities

 

974,400

353,629

Creditors: Amounts falling due after more than one year

8

(885,565)

(337,465)

Net assets

 

88,835

16,164

Capital and reserves

 

Called up share capital

9

104

104

Retained earnings

88,731

16,060

Shareholders' funds

 

88,835

16,164

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.

 

Cavingham Ltd

(Registration number: 13179578)
Balance Sheet as at 31 March 2023

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.

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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 July 2023 and signed on its behalf by:
 

.........................................
Mr W Evans
Director

 

Cavingham Ltd

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

1

General information

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

The address of its registered office is:
Vicarage Court
160 Ermin Street
Swindon
Wiltshire
SN3 4NE
England

These financial statements were authorised for issue by the Board on 20 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.

These financial statements are presented in Pounds Sterling (£), which is the Company’s functional
currency. All amounts have been rounded to the nearest pound, unless otherwise indicated.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Cavingham Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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

25% reducing balance

Fixtures & Fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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

 

Cavingham Ltd

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

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Cavingham Ltd

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

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

3,008

1,889

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

13,922

13,922

Additions

1,616

1,616

At 31 March 2023

15,538

15,538

Depreciation

At 1 April 2022

1,889

1,889

Charge for the year

3,008

3,008

At 31 March 2023

4,897

4,897

Carrying amount

At 31 March 2023

10,641

10,641

At 31 March 2022

12,033

12,033

6

Investment properties

2023
£

At 1 April

470,000

Additions

720,000

At 31 March

1,190,000

The remortgaged property in the period was revalued by an independant valuer during the remortgage process to £720,000.

7

Debtors

Current

2023
£

2022
£

Other debtors

2,000

273,211

 

Cavingham Ltd

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

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

121

-

Accruals and deferred income

1,800

1,800

Other creditors

242,285

401,227

244,206

403,027

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

885,565

337,465

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

104

104

104

104

         

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

885,565

337,465

The above loans are secured against the investment properties and there is still an outstanding charge against the company for these.