Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31false2022-08-01No description of principal activity1111falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06656167 2022-08-01 2023-07-31 06656167 c:KeyManagementIndividualGroup1 2022-08-01 2023-07-31 06656167 2021-08-01 2022-07-31 06656167 2023-07-31 06656167 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2023-07-31 06656167 2022-07-31 06656167 d:Director1 2022-08-01 2023-07-31 06656167 c:MotorVehicles 2022-08-01 2023-07-31 06656167 c:MotorVehicles 2023-07-31 06656167 c:MotorVehicles 2022-07-31 06656167 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 06656167 c:FurnitureFittings 2022-08-01 2023-07-31 06656167 c:FurnitureFittings 2023-07-31 06656167 c:FurnitureFittings 2022-07-31 06656167 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 06656167 c:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 06656167 c:Goodwill 2023-07-31 06656167 c:Goodwill 2022-07-31 06656167 c:CurrentFinancialInstruments 2023-07-31 06656167 c:CurrentFinancialInstruments 2022-07-31 06656167 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 06656167 c:CurrentFinancialInstruments c:WithinOneYear 2022-07-31 06656167 c:ShareCapital 2023-07-31 06656167 c:ShareCapital 2022-07-31 06656167 c:RetainedEarningsAccumulatedLosses 2023-07-31 06656167 c:RetainedEarningsAccumulatedLosses 2022-07-31 06656167 d:FRS102 2022-08-01 2023-07-31 06656167 d:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 06656167 d:FullAccounts 2022-08-01 2023-07-31 06656167 d:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 06656167 2 2022-08-01 2023-07-31 06656167 e:PoundSterling 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 06656167










CURA SEATING COMPANY LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

 
CURA SEATING COMPANY LTD
REGISTERED NUMBER: 06656167

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
46,018
37,200

Current assets
  

Stocks
  
105,000
105,000

Debtors: amounts falling due within one year
 6 
130,652
76,885

Cash at bank and in hand
  
73,006
26,823

  
308,658
208,708

Creditors: amounts falling due within one year
 7 
(204,980)
(173,517)

Net current assets
  
 
 
103,678
 
 
35,191

Total assets less current liabilities
  
149,696
72,391

  

Net assets
  
149,696
72,391


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
149,496
72,191

  
149,696
72,391


Page 1

 
CURA SEATING COMPANY LTD
REGISTERED NUMBER: 06656167
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The director considers 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 director acknowledges his 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 A G Vickers
Director

Date: 15 April 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
CURA SEATING COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

Cura Seating Company Ltd (“the Company”) is a private company limited by shares, incorporated in
England and Wales under the Companies Act.
The registered number and address of the registered office is given in the company information.
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the
nearest whole pound.

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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 3

 
CURA SEATING COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
CURA SEATING COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
15%
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.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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 5

 
CURA SEATING COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.14

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 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.
Investments in non-derivative instruments that are equity to the issuer are measured:
• At fair value with changes recognised in the Statement of comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
• At cost less impairment for all other investments.
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
Page 6

 
CURA SEATING COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

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.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.
 


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2022 - 11).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
4,000



At 31 July 2023

4,000



Amortisation


At 1 August 2022
4,000



At 31 July 2023

4,000



Net book value



At 31 July 2023
-



At 31 July 2022
-



Page 7

 
CURA SEATING COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Total

£
£
£



Cost


At 1 August 2022
58,996
87,243
146,239


Additions
12,500
3,300
15,800



At 31 July 2023

71,496
90,543
162,039



Depreciation


At 1 August 2022
50,598
58,441
109,039


Charge for the year on owned assets
2,620
4,362
6,982



At 31 July 2023

53,218
62,803
116,021



Net book value



At 31 July 2023
18,278
27,740
46,018



At 31 July 2022
8,398
28,802
37,200


6.


Debtors

2023
2022
£
£


Trade debtors
124,257
63,730

Other debtors
-
8,536

Prepayments and accrued income
6,395
4,619

130,652
76,885


Page 8

 
CURA SEATING COMPANY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
79,935
63,733

Corporation tax
7,316
-

Other taxation and social security
27,223
12,690

Other creditors
87,299
94,069

Accruals and deferred income
3,207
3,025

204,980
173,517



8.


Pension commitments

The company contributes to a defined benefit contributions scheme for its employees. At the balance sheet date contributions totalling £935 (2022: £955) were outstanding and payable to the plan. This amount is included within other creditors.


9.


Related party transactions

Included within other creditors is a balance due to the director of the company of £848 (2022: £6,483)
Also included within other creditors is a balance due to a shareholder of the company of £37,813 (2022: £38,413).
Also included within other creditors is a balance due to a shareholder of the company of £47,189 (2022: £47,704).
Also included within other creditors is a balance due to Cura Medica Company Ltd, a company with directors and shareholders in common, totalling £514 (2022: £514).
All balances are unsecured, interest free and repayable on demand.

 
Page 9