Caseware UK (AP4) 2023.0.135 2023.0.135 false12022-01-01No description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10181571 2022-01-01 2022-12-31 10181571 2021-01-01 2021-12-31 10181571 2022-12-31 10181571 2021-12-31 10181571 c:Director1 2022-01-01 2022-12-31 10181571 d:CurrentFinancialInstruments 2022-12-31 10181571 d:CurrentFinancialInstruments 2021-12-31 10181571 d:Non-currentFinancialInstruments 2022-12-31 10181571 d:Non-currentFinancialInstruments 2021-12-31 10181571 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10181571 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 10181571 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10181571 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 10181571 d:ShareCapital 2022-12-31 10181571 d:ShareCapital 2021-12-31 10181571 d:RetainedEarningsAccumulatedLosses 2022-12-31 10181571 d:RetainedEarningsAccumulatedLosses 2021-12-31 10181571 c:OrdinaryShareClass1 2022-01-01 2022-12-31 10181571 c:OrdinaryShareClass1 2022-12-31 10181571 c:OrdinaryShareClass1 2021-12-31 10181571 c:FRS102 2022-01-01 2022-12-31 10181571 c:AuditExemptWithAccountantsReport 2022-01-01 2022-12-31 10181571 c:FullAccounts 2022-01-01 2022-12-31 10181571 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 10181571 e:PoundSterling 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10181571










Celina Tent Europe Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 31 December 2022

 
Celina Tent Europe Limited
 
  
Chartered accountants' report to the director on the preparation of the unaudited statutory financial statements of Celina Tent Europe Limited for the year ended 31 December 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Celina Tent Europe Limited for the year ended 31 December 2022 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 director of Celina Tent Europe Limited in accordance with the terms of our engagement letter dated 10 April 2024Our work has been undertaken solely to prepare for your approval the financial statements of Celina Tent Europe Limited and state those matters that we have agreed to state to the director of Celina Tent Europe Limited 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 Celina Tent Europe Limited and its director for our work or for this report. 

It is your duty to ensure that Celina Tent Europe 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 loss of Celina Tent Europe Limited. You consider that Celina Tent Europe 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 Celina Tent Europe 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
Canterbury
30 April 2024
Page 1

 
Celina Tent Europe Limited
Registered number: 10181571

Balance sheet
As at 31 December 2022

2022
2021
Note
£
£

  

Current assets
  

Stocks
  
-
248,715

Debtors: amounts falling due within one year
 4 
296,883
36,603

Cash at bank and in hand
  
707
18,901

  
297,590
304,219

Creditors: amounts falling due within one year
 5 
(5,522)
(3,220)

Net current assets
  
 
 
292,068
 
 
300,999

Total assets less current liabilities
  
292,068
300,999

Creditors: amounts falling due after more than one year
 6 
(652,897)
(652,897)

  

Net liabilities
  
(360,829)
(351,898)


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
(360,929)
(351,998)

  
(360,829)
(351,898)


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 income and retained earnings 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 on 30 April 2024.




J Grieshop
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
Celina Tent Europe Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

1.


General information

Celina Tent Europe Limited is a private company limited by shares and is incorporated in England and Wales with the registration number 10181571. The registered address of the company is 2nd Floor 168 Shoreditch High Street, London, United Kingdom, E1 6RA.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 have been rounded to the nearest pound. 

The following principal accounting policies have been applied:

 
2.2

Going concern

The company relies upon the support provided by Celina Tent Inc, the parent company. 
While the impact of the Covid-19 virus has been assesed by the director so far as reasonably possible, due it's unprecedented impact on the wider economy, it is difficult to evaluate with any certainty the potential outcomes on the company's trade, its customers and suppliers. However, taking into consideration the UK Government's response, the parent company's support and the company's planning, the directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future. 
On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
Celina Tent Europe Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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

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.

Page 4

 
Celina Tent Europe Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)

 
2.9

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

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.

 

Page 5

 
Celina Tent Europe Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2021 - 1).


4.


Debtors

2022
2021
£
£


Amounts owed by group undertakings
256,561
-

Other debtors
40,322
36,603

296,883
36,603


Page 6

 
Celina Tent Europe Limited
 

 
Notes to the financial statements
For the year ended 31 December 2022

5.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
862
-

Other creditors
160
120

Accruals and deferred income
4,500
3,100

5,522
3,220



6.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Amounts owed to group undertakings
652,897
652,897

652,897
652,897



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



10,000 (2021 - 10,000) Ordinary shares of £0.01 each
100
100



8.


Related party transactions

All related party transactions made during the period were made under normal market conditions.


9.


Controlling party

The controlling party is Celina Enterprises LLC by virtue of its majority shareholding.


Page 7