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REGISTERED NUMBER: 08156900 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Cavern Promotions Limited

Cavern Promotions Limited (Registered number: 08156900)

Contents of the Financial Statements
for the Year Ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Cavern Promotions Limited

Company Information
for the Year Ended 31 July 2023







DIRECTOR: D Goodchild





REGISTERED OFFICE: 5 Barnfield Crescent
Exeter
Devon
EX1 1QT





REGISTERED NUMBER: 08156900 (England and Wales)





ACCOUNTANTS: Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

Cavern Promotions Limited (Registered number: 08156900)

Balance Sheet
31 July 2023

31.7.23 31.7.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 14,521 15,690
14,521 15,690

CURRENT ASSETS
Stocks 7,500 7,500
Debtors 6 51,755 47,832
Cash at bank and in hand 197,730 182,597
256,985 237,929
CREDITORS
Amounts falling due within one year 7 97,956 98,115
NET CURRENT ASSETS 159,029 139,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

173,550

155,504

CREDITORS
Amounts falling due after more than one
year

8

(32,915

)

(39,165

)

PROVISIONS FOR LIABILITIES (2,930 ) (2,981 )
NET ASSETS 137,705 113,358

CAPITAL AND RESERVES
Called up share capital 10 10
Share premium 90 90
Retained earnings 137,605 113,258
SHAREHOLDERS' FUNDS 137,705 113,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Cavern Promotions Limited (Registered number: 08156900)

Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 8 April 2024 and were signed by:





D Goodchild - Director


Cavern Promotions Limited (Registered number: 08156900)

Notes to the Financial Statements
for the Year Ended 31 July 2023


1. STATUTORY INFORMATION

Cavern Promotions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These accounts have been prepared on a going concern basis, on the understanding that the director will financially support the company for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

Stocks
Stock is valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling cost in bringing stocks to their present location and condition.

Cavern Promotions Limited (Registered number: 08156900)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortisation cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortisation cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 16 ) .

Cavern Promotions Limited (Registered number: 08156900)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 21,000
AMORTISATION
At 1 August 2022
and 31 July 2023 21,000
NET BOOK VALUE
At 31 July 2023 -
At 31 July 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 34,933
Additions 6,124
Disposals (13,422 )
At 31 July 2023 27,635
DEPRECIATION
At 1 August 2022 19,243
Charge for year 4,381
Eliminated on disposal (10,510 )
At 31 July 2023 13,114
NET BOOK VALUE
At 31 July 2023 14,521
At 31 July 2022 15,690

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
as restated
£    £   
Amounts owed by group undertakings 10,200 750
Other debtors 41,555 47,082
51,755 47,832

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
as restated
£    £   
Bank loans and overdrafts 6,250 6,250
Trade creditors 23,998 19,412
Taxation and social security 56,442 60,022
Other creditors 11,266 12,431
97,956 98,115

Cavern Promotions Limited (Registered number: 08156900)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.7.23 31.7.22
as restated
£    £   
Bank loans 32,915 39,165

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
as restated
£    £   
D Goodchild
Balance outstanding at start of year (16,975 ) (40,671 )
Amounts advanced (40,881 ) -
Amounts repaid 58,000 23,696
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 144 (16,975 )

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Cavern Promotions Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cavern Promotions Limited for the year ended 31 July 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Cavern Promotions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cavern Promotions Limited and state those matters that we have agreed to state to the director of Cavern Promotions Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cavern Promotions Limited and its director for our work or for this report.

It is your duty to ensure that Cavern Promotions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cavern Promotions Limited. You consider that Cavern Promotions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cavern Promotions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


8 April 2024