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Registered number: 08050242
Cavendish House Enterprises Limited
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Company Information 1
Accountant's Report 2
Balance Sheet 3—4
Notes to the Financial Statements 5—8
Page 1
Company Information
Directors Mr A S Runacres
Mrs L J Runacres
Company Number 08050242
Registered Office Hanover Buildings
11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Accountants ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
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Accountant's Report
Chartered Accountant's report to the directors on the preparation of the unaudited statutory accounts of Cavendish House Enterprises Limited For The Year Ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of Cavendish House Enterprises Limited For The Year Ended 31 May 2024 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member 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 http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the directors of Cavendish House Enterprises Limited , as a body, in accordance with the terms of our engagement letter dated 13 March 2024. Our work has been undertaken solely to prepare for your approval the accounts of Cavendish House Enterprises Limited and state those matters that we have agreed to state to the directors of Cavendish House Enterprises Limited , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cavendish House Enterprises Limited and its directors, as a body, for our work or for this report.
It is your duty to ensure that Cavendish House Enterprises Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of Cavendish House Enterprises Limited . You consider that Cavendish House Enterprises Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of Cavendish House Enterprises 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 financial statements.
Signed
ERC Accountants and Business Advisors
20 August 2024
ERC Accountants & Business Advisers Limited
Chartered Accountants
Hanover Buildings, 11-13 Hanover Street
Liverpool
Merseyside
L1 3DN
Page 2
Page 3
Balance Sheet
Registered number: 08050242
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 7,749 16,079
Tangible Assets 5 152,259 100,620
160,008 116,699
CURRENT ASSETS
Debtors 6 917,825 930,767
Cash at bank and in hand 126,807 97,995
1,044,632 1,028,762
Creditors: Amounts Falling Due Within One Year 7 (471,636 ) (386,667 )
NET CURRENT ASSETS (LIABILITIES) 572,996 642,095
TOTAL ASSETS LESS CURRENT LIABILITIES 733,004 758,794
Creditors: Amounts Falling Due After More Than One Year 8 (152,120 ) (177,708 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (26,880 ) (14,517 )
NET ASSETS 554,004 566,569
CAPITAL AND RESERVES
Called up share capital 11 78,223 78,223
Profit and Loss Account 475,781 488,346
SHAREHOLDERS' FUNDS 554,004 566,569
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For the year ending 31 May 2024 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 A S Runacres
Director
20 August 2024
The notes on pages 5 to 8 form part of these financial statements.
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Page 5
Notes to the Financial Statements
1. General Information
Cavendish House Enterprises Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08050242 . The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2. Going Concern Disclosure
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
2.3. Turnover
The turnover is derived from commissions generated from holiday companies for acting as a holiday agent selling cruises, exclusive of Value Added Tax, on an accruals basis. Commission is accounted for when the holiday is paid in full to the cruise liners.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 7 years.
2.5. Intangible Fixed Assets and Amortisation - Other Intangible
Website development assets are amortised to profit and loss account over its estimated economic life of 5 years.

Software development assets are amortised to profit and loss account over its estimated economic life of 5 years.
2.6. Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent 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:
Motor vehicles 25% reducing balance
Fixtures and fittings 25% reducing balance
Equipment 25% straight line
2.7. Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
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2.8. Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2.9. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 13)
12 13
4. Intangible Assets
Goodwill Other Intangible Assets Total
£ £ £
Cost
As at 1 June 2023 1,650,000 118,506 1,768,506
As at 31 May 2024 1,650,000 118,506 1,768,506
Amortisation
As at 1 June 2023 1,650,000 102,427 1,752,427
Provided during the period - 8,330 8,330
As at 31 May 2024 1,650,000 110,757 1,760,757
Net Book Value
As at 31 May 2024 - 7,749 7,749
As at 1 June 2023 - 16,079 16,079
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5. Tangible Assets
Motor vehicles Fixtures and fittings Equipment Total
£ £ £ £
Cost
As at 1 June 2023 103,483 32,358 55,690 191,531
Additions 80,951 - 2,912 83,863
Disposals - - (49,667 ) (49,667 )
As at 31 May 2024 184,434 32,358 8,935 225,727
Depreciation
As at 1 June 2023 12,461 24,736 53,714 90,911
Provided during the period 27,815 1,905 2,504 32,224
Disposals - - (49,667 ) (49,667 )
As at 31 May 2024 40,276 26,641 6,551 73,468
Net Book Value
As at 31 May 2024 144,158 5,717 2,384 152,259
As at 1 June 2023 91,022 7,622 1,976 100,620
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 904,745 905,099
Other debtors 13,080 25,668
917,825 930,767
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 16,542 8,970
Trade creditors 238,094 215,248
Bank loans and overdrafts 74,235 74,235
Other creditors 128,375 48,626
Taxation and social security 14,390 39,588
471,636 386,667
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 68,829 20,183
Bank loans 83,291 157,525
152,120 177,708
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9. Secured Creditors
Of the creditors the following amounts are secured.
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 85,372 29,153
Bank loans and overdrafts 157,526 231,760
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 16,542 8,970
Later than one year and not later than five years 68,829 20,183
85,371 29,153
85,371 29,153
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 78,223 78,223
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 2,853 7,515
Later than one year and not later than five years 1,664 -
4,517 7,515
13. Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
14. Related Party Transactions
The following related party transactions were undertaken during the year:
The directors' and shareholders' introduced amounts totalling £144,000 (2023: £85,000) and withdrew amounts totalling £63,978 (2023: £63,000). At the balance sheet date the amount owed to the director was £118,614 (2023 :£38,592).
Dividends were paid to the directors in respect of their shareholdings totalling £39,000 (2023: £nil).
The aggregate remuneration paid to key management personnel for the year was £8,840 (2023: £16,207).
No further transactions with related parties were undertaken such as are required to be disclosed in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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