Company registration number 02506912 (England and Wales)
Cattaneo Commercial Limited
Financial Statements
For the year ended
30 September 2023
Pages for filing with registrar
Cattaneo Commercial Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
Cattaneo Commercial Limited
Statement Of Financial Position
As at 30 September 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,850
421
Current assets
Debtors
5
169,865
192,489
Cash at bank and in hand
60,256
83,058
230,121
275,547
Creditors: amounts falling due within one year
6
(264,137)
(192,202)
Net current (liabilities)/assets
(34,016)
83,345
Net (liabilities)/assets
(32,166)
83,766
Capital and reserves
Called up share capital
1,628
1,177
Share premium account
28,924
28,924
Profit and loss reserves
(62,718)
53,665
Total equity
(32,166)
83,766
The notes on pages 2 to 5 form part of these financial statements.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 February 2024 and are signed on its behalf by:
R.V. Cattaneo
Director
Company registration number 02506912 (England and Wales)
Cattaneo Commercial Limited
Notes To The Financial Statements
For the year ended 30 September 2023
- 2 -
1
General information
Cattaneo Commercial Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19-23 High Street, Kingston upon Thames, KT1 1LL.
2
Accounting policies
2.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
2.2
Turnover
The turnover represents amounts receivable for the year in respect of sales commission, surveying and management fees, exclusive of VAT.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to stage of completion.
2.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% straight line
Motor vehicles
33% straight line
Equipment
20% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
2.4
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
2.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.
Cattaneo Commercial Limited
Notes To The Financial Statements (Continued)
For the year ended 30 September 2023
2
Accounting policies
(Continued)
- 3 -
2.6
Financial instruments
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.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.
2.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
2.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
8
8
Cattaneo Commercial Limited
Notes To The Financial Statements (Continued)
For the year ended 30 September 2023
- 4 -
4
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 October 2022
13,456
26,370
16,299
56,125
Additions
2,152
2,152
Disposals
(26,370)
(249)
(26,619)
At 30 September 2023
13,456
18,202
31,658
Depreciation and impairment
At 1 October 2022
13,456
26,370
15,878
55,704
Depreciation charged in the year
557
557
Eliminated in respect of disposals
(26,370)
(83)
(26,453)
At 30 September 2023
13,456
16,352
29,808
Carrying amount
At 30 September 2023
1,850
1,850
At 30 September 2022
421
421
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
110,908
105,564
Other debtors
58,957
86,925
169,865
192,489
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,367
9,077
Taxation and social security
20,351
32,109
Other creditors
240,419
151,016
264,137
192,202
Cattaneo Commercial Limited
Notes To The Financial Statements (Continued)
For the year ended 30 September 2023
- 5 -
7
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
16,099
8
Directors' transactions
At 30 September 2023, a sum of £451 (2022: £Nil) was due from a director in respect of unpaid share capital.