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Registration number: 12618712

Cassidy Group (Beeston) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2022

 

Cassidy Group (Beeston) Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 6

 

Cassidy Group (Beeston) Limited

Company Information

Director

Mr Patric J Cassidy

Registered office

The Stables
Village Street
Off Church
Leamington Spa
CV33 9AW

Accountants

Pattinsons Business Services Ltd
8 The Courtyard
Goldsmith Way
Eliot Business Park
Nuneaton
Warwickshire
CV10 7RJ

 

Cassidy Group (Beeston) Limited

Director's Report for the Year Ended 30 September 2022

The director presents his report and the financial statements for the year ended 30 September 2022.

Incorporation

The company was incorporated and commenced trading on 22 May 2020.

Director of the company

The director who held office during the year was as follows:

Mr Patric J Cassidy

Principal activity

The principal activity of the company is Property development

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through the continued financial support of its director and funders. The director therefore considers it appropriate to prepare financial statements on a going concern basis. The financial statements do not include any adjustments that would result in the withdrawal of financial support by the company's directors and funders.

Small companies provision statement

This report has 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.

Approved by the director on 21 November 2023 and signed on its behalf by:

.........................................
Mr Patric J Cassidy
Director

 

Cassidy Group (Beeston) Limited

(Registration number: 12618712)
Balance Sheet as at 30 September 2022

Note

2022
£

2021
£

Current assets

 

Stocks

4

507,144

247,734

Debtors

5

16,199

1,199

Cash at bank and in hand

 

285

47

 

523,628

248,980

Creditors: Amounts falling due within one year

6

(539,466)

(255,037)

Net liabilities

 

(15,838)

(6,057)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

(15,839)

(6,058)

Shareholders' deficit

 

(15,838)

(6,057)

For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 21 November 2023
 

.........................................
Mr Patric J Cassidy
Director

 

Cassidy Group (Beeston) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

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:
The Stables
Village Street
Off Church
Leamington Spa
CV33 9AW

These financial statements were authorised for issue by the director on 21 November 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.

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.

 

Cassidy Group (Beeston) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

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.

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.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks, other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2021 - 0).

4

Stocks

2022
£

2021
£

Work in progress

507,144

247,734

5

Debtors

2022
£

2021
£

Other debtors

16,199

1,199

16,199

1,199

 

Cassidy Group (Beeston) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

18,852

2,119

Amounts owed to group undertakings and undertakings in which the company has a participating interest

8

519,974

235,123

Other creditors

 

640

17,795

 

539,466

255,037

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary £1 of £1 each

1

1

1

1

         

8

Related party transactions

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' not to disclose related party transactions with wholly owned entiities within the group.