REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
FOR |
CARIDON MANAGEMENT LTD |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 OCTOBER 2022 |
FOR |
CARIDON MANAGEMENT LTD |
CARIDON MANAGEMENT LTD (REGISTERED NUMBER: 10550000) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 OCTOBER 2022 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
CARIDON MANAGEMENT LTD |
COMPANY INFORMATION |
For The Year Ended 31 OCTOBER 2022 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants & Statutory Auditors |
1 Kings Avenue |
London |
N21 3NA |
CARIDON MANAGEMENT LTD (REGISTERED NUMBER: 10550000) |
STATEMENT OF FINANCIAL POSITION |
31 OCTOBER 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
CARIDON MANAGEMENT LTD (REGISTERED NUMBER: 10550000) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 OCTOBER 2022 |
1. | STATUTORY INFORMATION |
Caridon Management Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. |
There are no significant judgements or estimates involved in the preparation of the financial statements. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax. |
Revenue is recognized when services are rendered to the customers. |
Property, plant and equipment |
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended. |
The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. |
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
Plant and Machinery - 25% on reducing balance |
The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
CARIDON MANAGEMENT LTD (REGISTERED NUMBER: 10550000) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 OCTOBER 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Cash and cash equivalent |
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
Going concern |
The company meets its day to day working capital requirement from its reserves and through agreed banking facilities such as finance leases to finance asset purchases. After reviewing the company's forecast and projections, the directors are satisfied that the company has adequate resources to continue in operational existence for the forseeable future, including a period of not less than 12 months from the date signing these financial statements.The directors have therefore continued to adopt the going concern basis in preparing the company's financial statements. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
At 1 November 2021 |
Additions |
At 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
CARIDON MANAGEMENT LTD (REGISTERED NUMBER: 10550000) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 OCTOBER 2022 |
4. | PROPERTY, PLANT AND EQUIPMENT - continued |
Fixed assets, included in the above, which are held under finance leases are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 1 November 2021 |
and 31 October 2022 |
DEPRECIATION |
At 1 November 2021 |
Charge for year |
At 31 October 2022 |
NET BOOK VALUE |
At 31 October 2022 |
At 31 October 2021 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Finance leases |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Finance leases |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | OTHER FINANCIAL COMMITMENTS |
The company has annual lease commitment of £42,000 under non-cancellable operating leases for the next one year. |
CARIDON MANAGEMENT LTD (REGISTERED NUMBER: 10550000) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 OCTOBER 2022 |
10. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Caridon Property Limited who is the ultimate controlling party. |
Caridon Property Ltd prepares consolidated financial statements. The registered office of Caridon Property Ltd is 1 Kings Avenue, Winchmore Hill, London, N21 3NA. |