Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01No description of principal activity2falsetrue2 10756201 2022-06-01 2023-05-31 10756201 2021-06-01 2022-05-31 10756201 2023-05-31 10756201 2022-05-31 10756201 c:Director1 2022-06-01 2023-05-31 10756201 d:CurrentFinancialInstruments 2023-05-31 10756201 d:CurrentFinancialInstruments 2022-05-31 10756201 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10756201 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 10756201 d:ShareCapital 2023-05-31 10756201 d:ShareCapital 2022-05-31 10756201 c:OrdinaryShareClass1 2022-06-01 2023-05-31 10756201 c:OrdinaryShareClass1 2023-05-31 10756201 c:OrdinaryShareClass1 2022-05-31 10756201 c:FRS102 2022-06-01 2023-05-31 10756201 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 10756201 c:FullAccounts 2022-06-01 2023-05-31 10756201 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10756201









TEATRO SAN CASSIANO LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
TEATRO SAN CASSIANO LTD
REGISTERED NUMBER: 10756201

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
6,721
5,143

Cash at bank and in hand
 6 
7,779
8,157

  
14,500
13,300

Creditors: amounts falling due within one year
 7 
(14,499)
(13,299)

Net current assets
  
 
 
1
 
 
1

Total assets less current liabilities
  
1
1

  

Net assets
  
1
1


Capital and reserves
  

Share capital
 8 
1
1

  
1
1


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 comprehensive income 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: 


___________________________
Dr Paul Andrew Atkin
Director

Date: 1 February 2024

The notes on pages 2 to 6 form part of these financial statements.

Page 1

 
TEATRO SAN CASSIANO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

The company is a private company limited by shares incorporated in England and Wales. The address of its registered office is: 48 Chancery Lane, London, England, WC2A 1JF, United Kingdom. The financial statements are prepared in GBP ("£") which is the functional and presentational currency of the primary economic environment in which the company operates. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

  
2.2

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these
financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in
the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
- the requirements of Section 33 Related Party Disclosures, paragraph 33.7.

 
2.3

Going concern

The Company is reliant on the continued support of its parent to meet its ongoing obligations. The directors are of the opinion that the company will continue to receive this support and on this basis considers it appropriate to prepare financial statements on a going concern basis.

Page 2

 
TEATRO SAN CASSIANO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Turnover

Turnover 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. Turnover 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

Turnover 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.

Page 3

 
TEATRO SAN CASSIANO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

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

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially
Page 4

 
TEATRO SAN CASSIANO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)

and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates an assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Directors' opinion there are no significant judgements and key sources of estimation uncertainty.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


5.


Debtors

2023
2022
£
£


Trade debtors
6,721
5,143

6,721
5,143


Page 5

 
TEATRO SAN CASSIANO LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,779
8,157

7,779
8,157



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
9,999
9,999

Accruals and deferred income
4,500
3,300

14,499
13,299



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share of £1.00
1
1


9.


Controlling party

The Company is a wholly owned subsidiary of Teatro San Cassiano Group Ltd which is the ultimate parent of the company incorporated in the UK. The registered office of Teatro San Cassiano Group Ltd is 48 Chancery Lane, London, WC2A 1JF, England, United Kingdom.

 
Page 6