10 false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 6,076 2,318 8,394 3,565 2,237 5,802 2,592 2,511 xbrli:pure xbrli:shares iso4217:GBP 11099130 2023-01-01 2023-12-31 11099130 2023-12-31 11099130 2022-12-31 11099130 2022-01-01 2022-12-31 11099130 2022-12-31 11099130 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 11099130 bus:OrdinaryShareClass2 2023-01-01 2023-12-31 11099130 bus:OrdinaryShareClass3 2023-01-01 2023-12-31 11099130 bus:OrdinaryShareClass4 2023-01-01 2023-12-31 11099130 bus:Director1 2023-01-01 2023-12-31 11099130 bus:Director2 2023-01-01 2023-12-31 11099130 bus:Director3 2023-01-01 2023-12-31 11099130 core:WithinOneYear 2023-12-31 11099130 core:WithinOneYear 2022-12-31 11099130 core:ShareCapital 2023-12-31 11099130 core:ShareCapital 2022-12-31 11099130 core:SharePremium 2023-12-31 11099130 core:SharePremium 2022-12-31 11099130 core:RetainedEarningsAccumulatedLosses 2023-12-31 11099130 core:RetainedEarningsAccumulatedLosses 2022-12-31 11099130 bus:SmallEntities 2023-01-01 2023-12-31 11099130 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 11099130 bus:FullAccounts 2023-01-01 2023-12-31 11099130 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11099130 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11099130 bus:OrdinaryShareClass1 2023-12-31 11099130 bus:OrdinaryShareClass1 2022-12-31 11099130 bus:OrdinaryShareClass2 2023-12-31 11099130 bus:OrdinaryShareClass2 2022-12-31 11099130 bus:OrdinaryShareClass3 2023-12-31 11099130 bus:OrdinaryShareClass3 2022-12-31 11099130 bus:OrdinaryShareClass4 2023-12-31 11099130 bus:OrdinaryShareClass4 2022-12-31 11099130 bus:AllOrdinaryShares 2023-12-31 11099130 bus:AllOrdinaryShares 2022-12-31 11099130 core:ComputerEquipment 2023-01-01 2023-12-31 11099130 core:ComputerEquipment 2022-12-31 11099130 core:ComputerEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 11099130
CUVAMA LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 December 2023
CUVAMA LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
Contents
Pages
Balance sheet 1 to 2
Notes to the financial statements 3 to 6
CUVAMA LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
2,592
2,511
Current assets
Debtors
6
37,103
244,646
Cash at bank and in hand
946,641
923,132
------------
------------
983,744
1,167,778
Creditors: amounts falling due within one year
7
( 41,436)
( 33,129)
------------
------------
Net current assets
942,308
1,134,649
------------
------------
Total assets less current liabilities
944,900
1,137,160
Provisions
( 490)
( 480)
------------
------------
Net assets
944,410
1,136,680
------------
------------
Capital and reserves
Called up share capital
9
2
2
Share premium account
1,932,751
1,105,869
Profit and loss account
( 988,343)
30,809
------------
------------
Shareholders funds
944,410
1,136,680
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
CUVAMA LIMITED
BALANCE SHEET (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 2 August 2024 , and are signed on behalf of the board by:
Mr M P Gurbaxani
Mr A Naro
Director
Director
Mr A M Smith
Director
Company registration number: 11099130
CUVAMA LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 35 Westgate, Huddersfield, West Yorkshire, HD1 1PA.
2. Statement of compliance
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'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Computer equipment
-
33% straight line
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 balance sheet 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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2022: 6 ).
5. Tangible assets
Computer equipment
£
Cost
At 1 January 2023
6,076
Additions
2,318
------------
At 31 December 2023
8,394
------------
Depreciation
At 1 January 2023
3,565
Charge for the year
2,237
------------
At 31 December 2023
5,802
------------
Carrying amount
At 31 December 2023
2,592
------------
At 31 December 2022
2,511
------------
6. Debtors
2023
2022
£
£
Trade debtors
26,832
Corporation tax repayable
37,103
37,103
Directors loan account
144,740
Other debtors
35,971
------------
------------
37,103
244,646
------------
------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,168
8,566
Accruals and deferred income
3,721
Social security and other taxes
36,920
20,742
Director loan accounts
1,248
Other creditors
100
100
------------
------------
41,436
33,129
------------
------------
8. Deferred tax
The deferred tax included in the balance sheet is as follows:
2023
2022
£
£
Included in provisions
490
480
------------
------------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 0.00001 each
92,500
1
92,500
1
Ordinary B shares of £ 0.00001 each
61,975
1
61,975
1
Ordinary C shares of £ 0.00001 each
12,525
12,525
Ordinary D shares of £ 0.00001 each
51,162
1
27,106
------------
------------
------------
------------
218,162
2
194,106
2
------------
------------
------------
------------
The shares are designated between A, B, C and D shares.
10. Directors' advances, credits and guarantees
Included in debtors was a loan to the director, M Gurbuxani, amounting to £76,250. This was repaid in full on 28 March 2023: £ Amount outstanding at end of the year 624 Amount outstanding at beginning of the year (76,250) Maximum outstanding during the year (76,250) Included in debtors was a loan to the director, A M Smith, amounting to £68,490. This was repaid in full on 28 March 2023: £ Amount outstanding at end of the year 624 Amount outstanding at beginning of the year (68,490) Maximum outstanding during the year (68,490)
11. Related party transactions
The company is controlled by the directors.