Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-0111truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09423024 2023-04-01 2024-03-31 09423024 2022-04-01 2023-03-31 09423024 2024-03-31 09423024 2023-03-31 09423024 c:Director1 2023-04-01 2024-03-31 09423024 d:OfficeEquipment 2023-04-01 2024-03-31 09423024 d:OtherPropertyPlantEquipment 2024-03-31 09423024 d:OtherPropertyPlantEquipment 2023-03-31 09423024 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09423024 d:Goodwill 2024-03-31 09423024 d:Goodwill 2023-03-31 09423024 d:CurrentFinancialInstruments 2024-03-31 09423024 d:CurrentFinancialInstruments 2023-03-31 09423024 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09423024 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09423024 d:ShareCapital 2024-03-31 09423024 d:ShareCapital 2023-03-31 09423024 d:RetainedEarningsAccumulatedLosses 2024-03-31 09423024 d:RetainedEarningsAccumulatedLosses 2023-03-31 09423024 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09423024 c:OrdinaryShareClass1 2024-03-31 09423024 c:OrdinaryShareClass1 2023-03-31 09423024 c:FRS102 2023-04-01 2024-03-31 09423024 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09423024 c:FullAccounts 2023-04-01 2024-03-31 09423024 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09423024 d:WithinOneYear 2024-03-31 09423024 d:WithinOneYear 2023-03-31 09423024 d:BetweenOneFiveYears 2024-03-31 09423024 d:BetweenOneFiveYears 2023-03-31 09423024 d:MoreThanFiveYears 2024-03-31 09423024 d:MoreThanFiveYears 2023-03-31 09423024 2 2023-04-01 2024-03-31 09423024 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 09423024 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 09423024 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09423024









CAMBRIDGE DANCE STUDIOS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CAMBRIDGE DANCE STUDIOS LIMITED
REGISTERED NUMBER: 09423024

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
3,426
4,031

Current assets
  

Debtors: amounts falling due within one year
 6 
54,653
18,446

Cash at bank and in hand
  
1,834
1,517

  
56,487
19,963

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(154,351)
(160,772)

Net current liabilities
  
 
 
(97,864)
 
 
(140,809)

  

Net liabilities
  
(94,438)
(136,778)


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
(94,538)
(136,878)

  
(94,438)
(136,778)


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 her 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 by: 




Mrs I F Knight
Director

Date: 2 August 2024

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
CAMBRIDGE DANCE STUDIOS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Cambridge Dance Studios Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is Tennyson House, Cambridge Business Park, Cowley Road, Cambridge, CB4 0WZ. This Company is not part of a group.

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 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

Going concern

The Company is only able to trade with the continuing support of the director. The director has indicated that this support will not be withdrawn. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result from the withdrawal of this support.

 
2.3

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 2

 
CAMBRIDGE DANCE STUDIOS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

Amortisation of goodwill is charged over its useful economic life of 5 years, on a straight-line basis.

 
2.5

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
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.

 
2.6

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.

Page 3

 
CAMBRIDGE DANCE STUDIOS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

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.

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.

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.

 
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

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 
CAMBRIDGE DANCE STUDIOS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

Interest income

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

 
2.12

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 corporation 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 1 (2023 - 1).

Page 5

 
CAMBRIDGE DANCE STUDIOS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
42,375



At 31 March 2024

42,375



Amortisation


At 1 April 2023
42,375



At 31 March 2024

42,375



Net book value



At 31 March 2024
-



At 31 March 2023
-




5.


Tangible fixed assets





Other fixed assets

£



Cost


At 1 April 2023
13,074



At 31 March 2024

13,074



Depreciation


At 1 April 2023
9,043


Charge for the year on owned assets
605



At 31 March 2024

9,648



Net book value



At 31 March 2024
3,426



At 31 March 2023
4,031

Page 6

 
CAMBRIDGE DANCE STUDIOS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
3,593
124

Other debtors
1,632
810

Prepayments
18,908
17,512

Deferred taxation
30,520
-

54,653
18,446



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
25,433
32,353

Other creditors
124,708
124,708

Accruals and deferred income
4,210
3,711

154,351
160,772



8.


Deferred taxation



2024


£



Charged to profit or loss
30,520

2024
£


Accelerated capital allowances
(857)

Tax losses carried forward
31,377

30,520


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100


Page 7

 
CAMBRIDGE DANCE STUDIOS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Commitments under operating leases

At 31 March 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
55,000
55,000

Later than 1 year and not later than 5 years
220,000
55,000

Later than 5 years
165,000
-

440,000
110,000


11.


Related party transactions

During the year the Company operated a loan with the director of the Company. The amount payable to the director of the Company at the year end was £124,708 (2023 - £124,708). This loan is interest free and repayable on demand.


Page 8