Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2022-04-01false66falsetrue 09470380 2022-04-01 2023-03-31 09470380 2021-04-01 2022-03-31 09470380 2023-03-31 09470380 2022-03-31 09470380 2021-04-01 09470380 c:Director1 2022-04-01 2023-03-31 09470380 d:MotorVehicles 2022-04-01 2023-03-31 09470380 d:MotorVehicles 2023-03-31 09470380 d:MotorVehicles 2022-03-31 09470380 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09470380 d:MotorVehicles d:PriorPeriodIncreaseDecrease 2022-04-01 2023-03-31 09470380 d:MotorVehicles d:RestatedAmount 2022-03-31 09470380 d:CurrentFinancialInstruments 2023-03-31 09470380 d:CurrentFinancialInstruments 2022-03-31 09470380 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09470380 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09470380 d:ShareCapital 2022-04-01 2023-03-31 09470380 d:ShareCapital 2023-03-31 09470380 d:ShareCapital 2021-04-01 2022-03-31 09470380 d:ShareCapital 2022-03-31 09470380 d:ShareCapital 2021-04-01 09470380 d:SharePremium 2022-04-01 2023-03-31 09470380 d:SharePremium 2023-03-31 09470380 d:SharePremium 2021-04-01 2022-03-31 09470380 d:SharePremium 2022-03-31 09470380 d:SharePremium 2021-04-01 09470380 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09470380 d:RetainedEarningsAccumulatedLosses 2023-03-31 09470380 d:RetainedEarningsAccumulatedLosses 2021-04-01 2022-03-31 09470380 d:RetainedEarningsAccumulatedLosses 2022-03-31 09470380 d:RetainedEarningsAccumulatedLosses 2021-04-01 09470380 c:OrdinaryShareClass1 2022-04-01 2023-03-31 09470380 c:OrdinaryShareClass1 2023-03-31 09470380 c:OrdinaryShareClass1 2022-03-31 09470380 c:FRS102 2022-04-01 2023-03-31 09470380 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09470380 c:FullAccounts 2022-04-01 2023-03-31 09470380 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09470380 2 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09470380









EL SANTO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
EL SANTO LIMITED
REGISTERED NUMBER: 09470380

BALANCE SHEET
AS AT 31 MARCH 2023

2023
*Restated 2022
Note

Fixed assets
  

Tangible assets
 6 
2,251,575
2,831,641

  
2,251,575
2,831,641

Current assets
  

Debtors: amounts falling due within one year
 7 
5,078,550
1,550,000

Cash at bank and in hand
 8 
909,996
1,958

  
5,988,546
1,551,958

Creditors: amounts falling due within one year
 9 
(87,758)
(96,560)

Net current assets
  
 
 
5,900,788
 
 
1,455,398

Total assets less current liabilities
  
8,152,363
4,287,039

  

Net assets
  
8,152,363
4,287,039


Capital and reserves
  

Called up share capital 
 10 
191,734
117,224

Share premium account
 11 
10,607,683
7,282,193

Profit and loss account
 11 
(2,647,054)
(3,112,378)

  
8,152,363
4,287,039


(*see note 4)
 
Page 1

 
EL SANTO LIMITED
REGISTERED NUMBER: 09470380
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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: 




A Doctor Murcia
Director

Date: 7 March 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 

 
EL SANTO LIMITED


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023



Called up share capital
Share premium account
Profit and loss account
Total equity





At 1 April 2021
100,229
5,599,604
(2,629,100)
3,070,733





*Restated loss for the year

-
-
(483,278)
(483,278)


Shares issued during the year
16,995
1,682,589
-
1,699,584





*Restated At 1 April 2022
117,224
7,282,193
(3,112,378)
4,287,039





Profit for the year

-
-
465,324
465,324


Shares issued during the year
74,510
3,325,490
-
3,400,000



At 31 March 2023
191,734
10,607,683
(2,647,054)
8,152,363



The notes on pages 4 to 9 form part of these financial statements.

(*See note 4)

Page 3

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

El Santo Limited is a private limited company, limited by shares, incorporated in England and Wales. The company's registered number is 09470380 and the registered office address of the registered office is at 45 Gresham Street, EC2V 7BG. 
The financial statements are presented in Euros, which is the functional currency of the company.

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 judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company made a profit of €465,324 (2022: loss of €483,278) and has a balance sheet showing a net assets figure of €8,152,363 at 31 March 2023 (2022: €4,287,039).  The directors have prepared the accounts on the going concern basis as the company has confirmed it will have sufficient reserves  support for the foreseeable future. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Current and deferred 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.

 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
5% straight-line

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.

 
2.7

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Page 5

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by the directors in preparing these financial statements.


4.


Restatement of the prior year figures

Tangible fixed assets
      
During the year it was identified that certain costs were classified as fixed assets incorrectly in 2022,  therefore those assets have been over depreciated.
Prior year figures have been restated in these financial statements to correctly reflect the accumulated depreciation in relation to prior impairments. As part of this restatement changes were made to the presentation and disclosures in the financial statements to accurately reflect this.
The amount of the correction for each line item of the balance sheet affected was:
 
Decrease Tangible Fixed Assets by £1,472,50;
Increase Other Debtors by £1,550,000;
Decrease Administrative expenses by £77,500.


5.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).

Page 6

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Tangible fixed assets





Motor vehicles




Cost or valuation


At 1 April 2022 (as previously stated)
5,348,702


Prior Year Adjustment
(1,550,000)


At 1 April 2022 (as restated)
3,798,702


Additions
372,680


Disposals
(2,480,593)



At 31 March 2023

1,690,789



Depreciation


At 1 April 2022 (as previously stated)
1,044,561


Prior Year Adjustment
(77,500)


At 1 April 2022 (as restated)
967,061


Charge for the year on owned assets
84,539


Disposals
(1,612,386)



At 31 March 2023

(560,786)



Net book value



At 31 March 2023
2,251,575



At 31 March 2022 (as restated)
2,831,641

(*See note 4)


7.


Debtors

2023
2022


Other debtors
5,078,550
1,550,000

5,078,550
1,550,000


Page 7

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
909,996
1,958

909,996
1,958



9.


Creditors: Amounts falling due within one year

2023
2022

Trade creditors
6,430
13,710

Other taxation and social security
-
1,526

Other creditors
81,328
81,324

87,758
96,560



10.


Share capital

2023
2022
Allotted, called up and fully paid



153,529 (2022 - 89,480) Ordinary shares of £1.00 each
191,734
117,224


On 4 July 2022 the company issued 64,049 ordinary shares of £1 each for a total consideration of €3,400,000, which gave rise to a share premium of €3,325,490.


11.


Reserves

Share premium account

The share premium account is used to record the aggregate amount or value of premiums paid when the company’s shares are issued at an amount in excess of nominal value.

Profit & loss account

This reserve relates to cumulative retained earnings less amounts distributed to shareholders or used to fund repurchase of shares.


12.


Related party transactions

During the year the directors of the company did not received any remuneration (2022: £nil).

Page 8

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

13.


Controlling party

The controlling party is H F Gomez Garcia, by virtue of share ownership.

Page 9