Acorah Software Products - Accounts Production 15.0.600 false true true 30 November 2022 1 December 2021 false 1 December 2022 30 November 2023 30 November 2023 13003865 Mrs A Taub Mr R Kumar iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 13003865 2022-11-30 13003865 2023-11-30 13003865 2022-12-01 2023-11-30 13003865 frs-core:CurrentFinancialInstruments 2023-11-30 13003865 frs-core:Non-currentFinancialInstruments 2023-11-30 13003865 frs-core:FurnitureFittings 2023-11-30 13003865 frs-core:FurnitureFittings 2022-12-01 2023-11-30 13003865 frs-core:FurnitureFittings 2022-11-30 13003865 frs-core:InvestmentPropertyIncludedWithinPPE 2023-11-30 13003865 frs-core:InvestmentPropertyIncludedWithinPPE 2022-11-30 13003865 frs-core:ShareCapital 2023-11-30 13003865 frs-core:RetainedEarningsAccumulatedLosses 2023-11-30 13003865 frs-bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 13003865 frs-bus:FilletedAccounts 2022-12-01 2023-11-30 13003865 frs-bus:SmallEntities 2022-12-01 2023-11-30 13003865 frs-bus:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 13003865 frs-bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 13003865 frs-bus:Director1 2022-12-01 2023-11-30 13003865 frs-bus:Director2 2022-12-01 2023-11-30 13003865 frs-countries:EnglandWales 2022-12-01 2023-11-30 13003865 2021-11-30 13003865 2022-11-30 13003865 2021-12-01 2022-11-30 13003865 frs-core:CurrentFinancialInstruments 2022-11-30 13003865 frs-core:Non-currentFinancialInstruments 2022-11-30 13003865 frs-core:ShareCapital 2022-11-30 13003865 frs-core:RetainedEarningsAccumulatedLosses 2022-11-30
Registered number: 13003865
Cato Estates Limited
Unaudited Financial Statements
For The Year Ended 30 November 2023
Goldwyns London LLP
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—4
Page 1
Statement of Financial Position
Registered number: 13003865
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,759,877 1,757,263
1,759,877 1,757,263
CURRENT ASSETS
Debtors 5 - 4,000
Cash at bank and in hand 2,817 6,974
2,817 10,974
Creditors: Amounts Falling Due Within One Year 6 (733,069 ) (733,457 )
NET CURRENT ASSETS (LIABILITIES) (730,252 ) (722,483 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,029,625 1,034,780
Creditors: Amounts Falling Due After More Than One Year 7 (1,051,723 ) (1,051,698 )
NET LIABILITIES (22,098 ) (16,918 )
CAPITAL AND RESERVES
Called up share capital 8 2 2
Income Statement (22,100 ) (16,920 )
SHAREHOLDERS' FUNDS (22,098) (16,918)
Page 1
Page 2
For the year ending 30 November 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 Income Statement.
On behalf of the board
Mr R Kumar
Director
15/05/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cato Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13003865 . The registered office is 33 Cavendish Square, Office 408, London, England, W1G 0PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.
The principle accounting policies adopted are set below.
2.2. Going Concern Disclosure
The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.4. Tangible Fixed Assets and Depreciation
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:
Fixtures & Fittings 25% on Reducing Balance
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the income statement.
2.6. Financial Instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
2.7. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.8. Critical Accounting Judgements And Key Source of Estimation Uncertainity
In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the year in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the year end.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 December 2022 1,757,263 - 1,757,263
Additions - 3,486 3,486
As at 30 November 2023 1,757,263 3,486 1,760,749
Depreciation
As at 1 December 2022 - - -
Provided during the period - 872 872
As at 30 November 2023 - 872 872
Net Book Value
As at 30 November 2023 1,757,263 2,614 1,759,877
As at 1 December 2022 1,757,263 - 1,757,263
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors - 4,000
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1,256 1,644
Directors' loan accounts 731,813 731,813
733,069 733,457
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 1,051,723 1,051,698
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
The nominal value per share is £1 and as at the year end there are 2 Ordinary shares in issue.
9. Related Party Transactions
As at year end date the Directors Loan Account balance of Mrs A Taub is £9,999, which is a current liability, is interest free and repayable on demand.
As at year end date the Directors Loan Account balance of Mr R Kumar is £721,814, which is a current liability, is interest free and repayable on demand.
Page 4