Caseware UK (AP4) 2022.0.179 2022.0.179 No description of principal activity2022-07-01false9795truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02492795 2022-07-01 2023-06-30 02492795 2021-07-01 2022-06-30 02492795 2023-06-30 02492795 2022-06-30 02492795 2021-07-01 02492795 c:Director4 2022-07-01 2023-06-30 02492795 d:Buildings d:ShortLeaseholdAssets 2022-07-01 2023-06-30 02492795 d:Buildings d:ShortLeaseholdAssets 2023-06-30 02492795 d:Buildings d:ShortLeaseholdAssets 2022-06-30 02492795 d:FurnitureFittings 2022-07-01 2023-06-30 02492795 d:FurnitureFittings 2023-06-30 02492795 d:FurnitureFittings 2022-06-30 02492795 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02492795 d:ComputerEquipment 2022-07-01 2023-06-30 02492795 d:ComputerEquipment 2023-06-30 02492795 d:ComputerEquipment 2022-06-30 02492795 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02492795 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02492795 d:Goodwill 2022-07-01 2023-06-30 02492795 d:Goodwill 2023-06-30 02492795 d:Goodwill 2022-06-30 02492795 d:CurrentFinancialInstruments 2023-06-30 02492795 d:CurrentFinancialInstruments 2022-06-30 02492795 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02492795 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 02492795 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02492795 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 02492795 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 02492795 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-06-30 02492795 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 02492795 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 02492795 d:ShareCapital 2023-06-30 02492795 d:ShareCapital 2022-06-30 02492795 d:SharePremium 2023-06-30 02492795 d:SharePremium 2022-06-30 02492795 d:RetainedEarningsAccumulatedLosses 2023-06-30 02492795 d:RetainedEarningsAccumulatedLosses 2022-06-30 02492795 c:OrdinaryShareClass1 2022-07-01 2023-06-30 02492795 c:OrdinaryShareClass1 2023-06-30 02492795 c:OrdinaryShareClass1 2022-06-30 02492795 c:OrdinaryShareClass2 2022-07-01 2023-06-30 02492795 c:OrdinaryShareClass2 2023-06-30 02492795 c:OrdinaryShareClass2 2022-06-30 02492795 c:OrdinaryShareClass3 2022-07-01 2023-06-30 02492795 c:OrdinaryShareClass3 2023-06-30 02492795 c:OrdinaryShareClass3 2022-06-30 02492795 c:OrdinaryShareClass4 2022-07-01 2023-06-30 02492795 c:OrdinaryShareClass4 2023-06-30 02492795 c:OrdinaryShareClass4 2022-06-30 02492795 c:FRS102 2022-07-01 2023-06-30 02492795 c:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 02492795 c:FullAccounts 2022-07-01 2023-06-30 02492795 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02492795 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02492795 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 02492795 2 2022-07-01 2023-06-30 02492795 6 2022-07-01 2023-06-30 02492795 d:Goodwill d:OwnedIntangibleAssets 2022-07-01 2023-06-30 02492795 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02492795










Caxtons Commercial Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2023





 
Caxtons Commercial Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Caxtons Commercial Limited for the Year Ended 30 June 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Caxtons Commercial Limited for the year ended 30 June 2023 which comprise  the Balance Sheet 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 at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Caxtons Commercial Limited, as a body, in accordance with the terms of our engagement letter dated 2 December 2021Our work has been undertaken solely to prepare for your approval the financial statements of Caxtons Commercial Limited  and state those matters that we have agreed to state to the Board of Directors of Caxtons Commercial Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Caxtons Commercial Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Caxtons Commercial 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 Caxtons Commercial Limited. You consider that Caxtons Commercial Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Caxtons Commercial 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.

  



Kreston Reeves LLP
 
Chartered Accountants
  
37 St Margaret's Street
Canterbury
Kent
CT1 2TU
13 December 2023
Page 1

 
Caxtons Commercial Limited
Registered number: 02492795

Balance Sheet
As at 30 June 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible fixed assets
 4 
42,133
56,125

Tangible fixed assets
 5 
57,132
65,584

Fixed asset investments
 6 
100
-

  
99,365
121,709

Current assets
  

Debtors: amounts falling due within one year
 7 
686,508
458,298

Cash at bank and in hand
  
394,857
759,275

  
1,081,365
1,217,573

Creditors: amounts falling due within one year
 8 
(796,302)
(845,873)

Net current assets
  
 
 
285,063
 
 
371,700

Total assets less current liabilities
  
384,428
493,409

Creditors: amounts falling due after more than one year
  
(76,684)
(139,340)

Provisions for liabilities
  

Deferred tax
 10 
(12,554)
(15,009)

  
 
 
(12,554)
 
 
(15,009)

Net assets
  
295,190
339,060


Capital and reserves
  

Called up share capital 
 11 
13,335
13,335

Share premium account
  
144
144

Profit and loss account
  
281,711
325,581

  
295,190
339,060


Page 2

 
Caxtons Commercial Limited
Registered number: 02492795

Balance Sheet (continued)
As at 30 June 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: 



G S Mitchell
Director

Date: 13 December 2023

Page 3

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

1.


General information

Caxtons Commercial Limited is a private company limited by shares which was incorporated in England and Wales.
The company's registered office is James Pilcher House, 49-50 Windmill Street, Gravesend, Kent, DA12 1BG.
The financial statements are presented in pound sterling, and rounded to the nearest 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 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.

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.

Page 4

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

 
2.3

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other 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.

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.

 
2.4

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:

Short leasehold and improvements
-
Over the length of the lease
Office furniture
-
10% straight line
Computer and office equipment
-
20% and 25% 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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 5

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

 
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.

 
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

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.

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.

Impairment of financial assets

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

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.

Page 6

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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.

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.

 
2.9

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.

 
2.10

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.11

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 7

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

 
2.12

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.

 
2.13

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.14

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.

 
2.15

Interest income

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

 
2.16

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

2.Accounting policies (continued)

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 97 (2022 - 95).

Page 9

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 July 2022
1,736,083



At 30 June 2023

1,736,083



Amortisation


At 1 July 2022
1,679,958


Charge for the year on owned assets
13,992



At 30 June 2023

1,693,950



Net book value



At 30 June 2023
42,133



At 30 June 2022
56,125



Page 10

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Office furniture
Computer and office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
64,101
31,512
321,232
416,845


Additions
-
-
20,300
20,300


Disposals
-
-
(1,083)
(1,083)



At 30 June 2023

64,101
31,512
340,449
436,062



Depreciation


At 1 July 2022
57,811
21,907
271,543
351,261


Charge for the year on owned assets
1,533
2,510
24,589
28,632


Disposals
-
-
(962)
(962)



At 30 June 2023

59,344
24,417
295,170
378,931



Net book value



At 30 June 2023
4,757
7,095
45,279
57,131



At 30 June 2022
6,290
9,605
49,689
65,584

Page 11

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

6.


Fixed asset investments





Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 July 2022
-
6,200
6,200


Additions
100
-
100


Disposals
-
(6,200)
(6,200)



At 30 June 2023

100
-
100



Impairment


At 1 July 2022
-
6,200
6,200


Impairment on disposals
-
(6,200)
(6,200)



At 30 June 2023

-
-
-


7.


Debtors

2023
2022
£
£


Trade debtors
395,697
233,630

Other debtors
166,852
42,691

Prepayments and accrued income
80,291
95,920

Amounts recoverable on long term contracts
43,668
86,057

686,508
458,298



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
64,087
66,234

Trade creditors
199,043
126,023

Amounts owed to group undertakings
100
-

Corporation tax
201,754
233,608

Other taxation and social security
273,999
265,080

Other creditors
21,209
33,006

Accruals and deferred income
36,110
121,922

796,302
845,873


Page 12

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
64,087
66,234


64,087
66,234

Amounts falling due 1-2 years

Bank loans
40,000
62,667


40,000
62,667

Amounts falling due 2-5 years

Bank loans
36,684
76,673


36,684
76,673


140,771
205,574



10.


Deferred taxation




2023
2022


£

£






At beginning of year
(15,009)
(8,499)


Charged to the profit or loss
2,455
(6,510)



At end of year
(12,554)
(15,009)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(12,554)
(15,009)

(12,554)
(15,009)

Page 13

 
Caxtons Commercial Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2023

11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



13,330 (2022 - 13,330) Ordinary shares of £1 each
13,330
13,330
1 (2022 - 1) Ordinary A share of £1
1
1
1 (2022 - 1) Ordinary B share of £1
1
1
1 (2022 - 1) Ordinary C share of £1
1
1
1 (2022 - 1) Ordinary E share of £1
1
1
1 (2022 - 1) Ordinary F share of £1
1
1

13,335

13,335



12.


Pension commitments

The company contributed into personal pension funds for the directors. The company also operates defined contribution pension schemes for the staff. The assets of the schemes are held separately from those of the company in independently administered funds. The pension cost and charge represents contributions payable by the company to the schemes and amounted to £143,597 (2022: £122,125).  Contributions totalling £14,609 (2022: £14,934) were payable to the fund at the balance sheet date.


13.


Related party transactions

During the year ended 30 June 2023, the company incurred expenses for marketing and consultancy totalling £3,911 (£7,220 in the year to 30 June 2022) with Langton Business Services, a business under the control of R F Roser. At 30 June 2023, the amount owed to Langton Business Service was £nil (£1,226 at 30 June 2022).
Mr N W Chatterton is a director and shareholder of The Gravesend & District Real Estate Company Limited and Ms C V Laherty is a shareholder.  During the year ended 30 June 2023, the company received income and commission totalling £134,362 (£179,606 in the year to 30 June 2022) from this company, and incurred expenses totalling £1,574 (£nil in the year to 30 June 2022). At 30 June 2023, the amount owed from The Gravesend & District Real Estate Company Limited was £39,600 (£52,536 at 30 June 2022) and the amount due to The Gravesend & District Real Estate Company Limited was £289 (£nil at 30 June 2022). A provision is included as at 30 June 2023 in the sum of £7,500 for an amount due to The Gravesend & District Real Estate Company Limited.

Page 14