Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01the hire of equipmentfalse22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04353958 2022-04-01 2023-03-31 04353958 2021-04-01 2022-03-31 04353958 2023-03-31 04353958 2022-03-31 04353958 c:Director1 2022-04-01 2023-03-31 04353958 d:Buildings 2022-04-01 2023-03-31 04353958 d:Buildings 2023-03-31 04353958 d:Buildings 2022-03-31 04353958 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04353958 d:PlantMachinery 2022-04-01 2023-03-31 04353958 d:PlantMachinery 2023-03-31 04353958 d:PlantMachinery 2022-03-31 04353958 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04353958 d:FurnitureFittings 2022-04-01 2023-03-31 04353958 d:FurnitureFittings 2023-03-31 04353958 d:FurnitureFittings 2022-03-31 04353958 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04353958 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04353958 d:CurrentFinancialInstruments 2023-03-31 04353958 d:CurrentFinancialInstruments 2022-03-31 04353958 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04353958 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04353958 d:ShareCapital 2023-03-31 04353958 d:ShareCapital 2022-03-31 04353958 d:RetainedEarningsAccumulatedLosses 2023-03-31 04353958 d:RetainedEarningsAccumulatedLosses 2022-03-31 04353958 c:FRS102 2022-04-01 2023-03-31 04353958 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04353958 c:FullAccounts 2022-04-01 2023-03-31 04353958 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04353958 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04353958










C P A S (COLONNADES) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
C P A S (COLONNADES) LIMITED
REGISTERED NUMBER:04353958

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
84,340
92,821

Current assets
  

Debtors: amounts falling due within one year
 5 
102,151
90,151

Cash at bank and in hand
 6 
10,463
16,748

  
112,614
106,899

Creditors: amounts falling due within one year
 7 
(39,485)
(49,045)

Net current assets
  
 
 
73,129
 
 
57,854

  

Net assets
  
157,469
150,675


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
157,369
150,575

  
157,469
150,675


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: 




Mr H Kumar
Director

Date: 31 January 2024

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
C P A S (COLONNADES) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

C P A S (Colonnades) Limited is a private company, limited by shares, registered in England and Wales, company registration number 04353958. The registered office of the Company is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.

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 Company's functional and presentational currency is GBP, rounded to the nearest £1.
The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue 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. Revenue 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

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 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.

 
2.3

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.

Page 2

 
C P A S (COLONNADES) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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, .

Depreciation is provided on the following basis:

Freehold property
-
5% Straight line
Plant and machinery
-
25% Straight line
Fixtures and fittings
-
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.

 
2.6

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.

Page 3

 
C P A S (COLONNADES) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

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.

 
2.9

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 
Page 4

 
C P A S (COLONNADES) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)


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.

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. 

Derecognition of financial instruments

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.

Page 5

 
C P A S (COLONNADES) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

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


4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 April 2022
168,276
8,205
3,587
180,068



At 31 March 2023

168,276
8,205
3,587
180,068



Depreciation


At 1 April 2022
75,725
8,203
3,319
87,247


Charge for the year on owned assets
8,414
-
67
8,481



At 31 March 2023

84,139
8,203
3,386
95,728



Net book value



At 31 March 2023
84,137
2
201
84,340



At 31 March 2022
92,551
2
268
92,821


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
102,151
90,151


Amounts owed by group undertakings of £102,151 (2022: £90,151) are interest-free and repayable on demand.


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,463
16,748


Page 6

 
C P A S (COLONNADES) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
24,459
38,243

Corporation tax
15,026
10,802

39,485
49,045




Amounts owed to group undertakings of £24,459 (2022: £38,243) are interest-free and repayable on demand.


8.


Related party transactions


Colonnades Pharmacy LLP is an LLP in which the directors of C P A S (Colonnades) Limited are members. During the year, C P A S (Colonnades) Limited charged Colonnades Pharmacy LLP £19,500 (2022: £19,500) for the use of its equipment. During the year, C P A S (Colonnades) Limited received £5,716 (2022: £12,300) from Colonnades Pharmacy LLP. The balance due to Colonnades Pharmacy LLP at the year end was £24,459 (2022: £38,243). This loan is unsecured, interest free and repayable on demand.


9.


Controlling party

C P A S (Colonnades) Limited is a wholly owned subsidiary of C P A S Holdings Limited, a company registered in England and Wales. The registered address of the parent entity is 6th Floor, 2 London Wall Place, London, England, EC2Y 5AU.

 
Page 7