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Registered number: 11966749
Caltra Soaps Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11966749
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 24,904 28,231
Tangible Assets 5 10,843 14,456
35,747 42,687
CURRENT ASSETS
Stocks 6 18,814 24,087
Debtors 7 1,996 400
Cash at bank and in hand 3,700 8,569
24,510 33,056
Creditors: Amounts Falling Due Within One Year 8 (29,570 ) (28,860 )
NET CURRENT ASSETS (LIABILITIES) (5,060 ) 4,196
TOTAL ASSETS LESS CURRENT LIABILITIES 30,687 46,883
Creditors: Amounts Falling Due After More Than One Year 9 (73,200 ) (73,200 )
NET LIABILITIES (42,513 ) (26,317 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (42,613 ) (26,417 )
SHAREHOLDERS' FUNDS (42,513) (26,317)
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Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr P Hanley
Director
30 July 2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Caltra Soaps Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11966749 . The registered office is C/O Mills & Co Accountants, Conwy Business Centre, Llandudno Junction, Conwy, LL31 9XX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Website costs are amortised to profit and loss account over the estimated economic life of 5 years.
2.4. Research and Development
Research and development is amortised on a straight line basis over the estimated useful life of 10 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Computer Equipment 25% reducing balance
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
...CONTINUED
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2.7. Taxation - continued
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2022: 1)
1 1
4. Intangible Assets
Other Intangible Assets
£
Cost
As at 1 November 2022 32,068
As at 31 October 2023 32,068
Amortisation
As at 1 November 2022 3,837
Provided during the period 3,327
As at 31 October 2023 7,164
Net Book Value
As at 31 October 2023 24,904
As at 1 November 2022 28,231
5. Tangible Assets
Plant & Machinery etc.
£
Cost
As at 1 November 2022 25,482
As at 31 October 2023 25,482
Depreciation
As at 1 November 2022 11,026
Provided during the period 3,613
As at 31 October 2023 14,639
Net Book Value
As at 31 October 2023 10,843
As at 1 November 2022 14,456
6. Stocks
2023 2022
£ £
Stock 18,814 24,087
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Page 5
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,596 -
Other debtors 400 400
1,996 400
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 489 253
Other creditors 28,828 28,452
Taxation and social security 253 155
29,570 28,860
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Other creditors 73,200 73,200
73,200 73,200
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
11. Related Party Transactions
The company is currently supported by shareholder loans totalling £73,200 and directors loans totalling £28,407 (both included in other creditors). There is no fixed repayment date and no interest payable on the loans.
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