Caseware UK (AP4) 2022.0.179 2022.0.179 true4Accountants2022-04-01false4trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04357245 2022-04-01 2023-03-31 04357245 2021-04-01 2022-03-31 04357245 2023-03-31 04357245 2022-03-31 04357245 c:Director5 2022-04-01 2023-03-31 04357245 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 04357245 d:Buildings d:ShortLeaseholdAssets 2023-03-31 04357245 d:Buildings d:ShortLeaseholdAssets 2022-03-31 04357245 d:OfficeEquipment 2022-04-01 2023-03-31 04357245 d:OfficeEquipment 2023-03-31 04357245 d:OfficeEquipment 2022-03-31 04357245 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04357245 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04357245 d:Goodwill 2023-03-31 04357245 d:Goodwill 2022-03-31 04357245 d:CurrentFinancialInstruments 2023-03-31 04357245 d:CurrentFinancialInstruments 2022-03-31 04357245 d:Non-currentFinancialInstruments 2023-03-31 04357245 d:Non-currentFinancialInstruments 2022-03-31 04357245 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04357245 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04357245 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04357245 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04357245 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 04357245 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 04357245 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 04357245 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 04357245 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 04357245 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 04357245 d:ShareCapital 2023-03-31 04357245 d:ShareCapital 2022-03-31 04357245 d:CapitalRedemptionReserve 2023-03-31 04357245 d:CapitalRedemptionReserve 2022-03-31 04357245 d:RetainedEarningsAccumulatedLosses 2023-03-31 04357245 d:RetainedEarningsAccumulatedLosses 2022-03-31 04357245 c:FRS102 2022-04-01 2023-03-31 04357245 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04357245 c:FullAccounts 2022-04-01 2023-03-31 04357245 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04357245 4 2022-04-01 2023-03-31 04357245 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 04357245





 
Clay Ratnage Daffin & Co Limited          
 
Financial statements          

For the year ended 31 March 2023          

 
Clay Ratnage Daffin & Co Limited
Registered number: 04357245

Balance sheet
As at 31 March 2023

2023
2023
2022
2022
                                                                                  Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
15,365
15,804

Investments
 6 
100
-

  
15,465
15,804

Current assets
  

Debtors
 7 
573,375
413,111

Cash at bank and in hand
 8 
23,997
57,242

  
597,372
470,353

Creditors: amounts falling due within one year
 9 
(352,214)
(167,936)

Net current assets
  
 
 
245,158
 
 
302,417

Total assets less current liabilities
  
260,623
318,221

Creditors: amounts falling due after more than one year
 10 
(37,037)
(42,592)

  

Net assets
  
223,586
275,629


Capital and reserves
  

Called up share capital 
  
1,644
3,000

Capital redemption reserve
  
3,122
1,766

Profit and loss account
  
218,820
270,863

  
223,586
275,629


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 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.



 
Page 1

 
Clay Ratnage Daffin & Co Limited
Registered number: 04357245
    
Balance sheet (continued)
As at 31 March 2023




The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 18 August 2023.

Mrs L C Main
Director























 
Page 2

 
Clay Ratnage Daffin & Co Limited
Registered number: 04357245
    
Balance sheet (continued)
As at 31 March 2023


The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

1.


General information

Clay Ratnage Daffin & Co Limited is a private company limited by shares and is incorporated in England and Wales. Its registered office is 105 Queenswood Avenue, Hutton, Brentwood, Essex CM13 1HX. The principal place of business is Suite D, The Business Centre, Faringdon Avenue, Romford, RM3 8EN. 
During the year the company purchased back 1,356 Ordinary shares for the considertaion of £158,200.

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 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.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

Page 4

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.9

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, on a reducing balance basis.

Depreciation is provided on the following rate:

Furniture, fittings and equipment
-
25%
Reducing balance

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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments
Page 6

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.15

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 4 (2022 - 4).

Page 7

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
416,877



At 31 March 2023

416,877



Amortisation


At 1 April 2022
416,877



At 31 March 2023

416,877



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 8

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Furniture, fittings and equipment
Total

£
£
£



Cost


At 1 April 2022
6,849
116,364
123,213


Additions
-
4,681
4,681



At 31 March 2023

6,849
121,045
127,894



Depreciation


At 1 April 2022
6,849
100,559
107,408


Charge for the year on owned assets
-
5,121
5,121



At 31 March 2023

6,849
105,680
112,529



Net book value



At 31 March 2023
-
15,365
15,365



At 31 March 2022
-
15,804
15,804


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost


Additions
100



At 31 March 2023
100




Page 9

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

7.


Debtors

2023
2022
£
£


Trade debtors
162,163
147,964

Other debtors
300,000
155,000

Prepayments and accrued income
111,212
110,147

573,375
413,111



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
23,997
57,242



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,556
5,556

Trade creditors
103,612
52,894

Corporation tax
36,094
19,514

Other taxation and social security
29,815
38,647

Other creditors
158,499
50,584

Accruals and deferred income
18,638
741

352,214
167,936



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
37,037
42,592


Page 10

 
Clay Ratnage Daffin & Co Limited
 
 
 
Notes to the financial statements
For the year ended 31 March 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,556
5,556

Amounts falling due 1-2 years

Bank loans
5,556
5,556

Amounts falling due 2-5 years

Bank loans
16,668
16,668

Amounts falling due after more than 5 years

Bank loans
14,813
20,368

42,593
48,148


 
Page 11