Caseware UK (AP4) 2023.0.135 2023.0.135 22023-01-01falsedistribution and wholesale of kitchen hardware2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09903585 2023-01-01 2023-12-31 09903585 2022-01-01 2022-12-31 09903585 2023-12-31 09903585 2022-12-31 09903585 2022-01-01 09903585 1 2023-01-01 2023-12-31 09903585 d:Director1 2023-01-01 2023-12-31 09903585 e:MotorVehicles 2023-01-01 2023-12-31 09903585 e:MotorVehicles 2023-12-31 09903585 e:MotorVehicles 2022-12-31 09903585 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09903585 e:ComputerEquipment 2023-01-01 2023-12-31 09903585 e:ComputerEquipment 2023-12-31 09903585 e:ComputerEquipment 2022-12-31 09903585 e:ComputerEquipment e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09903585 e:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09903585 e:CurrentFinancialInstruments 2023-12-31 09903585 e:CurrentFinancialInstruments 2022-12-31 09903585 e:CurrentFinancialInstruments e:WithinOneYear 2023-12-31 09903585 e:CurrentFinancialInstruments e:WithinOneYear 2022-12-31 09903585 e:ShareCapital 2023-12-31 09903585 e:ShareCapital 2022-12-31 09903585 e:ShareCapital 2022-01-01 09903585 e:OtherMiscellaneousReserve 2023-01-01 2023-12-31 09903585 e:OtherMiscellaneousReserve 2023-12-31 09903585 e:OtherMiscellaneousReserve 1 2023-01-01 2023-12-31 09903585 e:OtherMiscellaneousReserve 2022-12-31 09903585 e:OtherMiscellaneousReserve 2022-01-01 09903585 e:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09903585 e:RetainedEarningsAccumulatedLosses 2023-12-31 09903585 e:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09903585 e:RetainedEarningsAccumulatedLosses 2022-12-31 09903585 e:RetainedEarningsAccumulatedLosses 2022-01-01 09903585 d:FRS102 2023-01-01 2023-12-31 09903585 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09903585 d:FullAccounts 2023-01-01 2023-12-31 09903585 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09903585 e:OtherDeferredTax 2023-12-31 09903585 e:OtherDeferredTax 2022-12-31 09903585 6 2023-01-01 2023-12-31 09903585 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
09903585





 
Deseo Limited          
 
Financial statements          

For the year ended 31 December 2023          

 
Deseo Limited
Registered number:09903585

Balance sheet
As at 31 December 2023


2023

2022 
                                                                                    Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
986
1,720

Investments
 5 
16,215
-

  
17,201
1,720

Current assets
  

Debtors
 6 
772
30,191

Cash at bank and in hand
 7 
129,012
125,004

  
129,784
155,195

Creditors: amounts falling due within one year
 8 
(54,317)
(56,133)

Net current assets
  
 
 
75,467
 
 
99,062

Total assets less current liabilities
  
92,668
100,782

Deferred tax
  
(386)
-

Net assets
  
92,282
100,782


Capital and reserves
  

Called up share capital 
  
100
100

Other reserves
  
1,158
-

Profit and loss account
  
91,024
100,682

  
92,282
100,782


The directors consider 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 directors acknowledge their 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 company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
Deseo Limited
Registered number:09903585
    
Balance sheet (continued)
As at 31 December 2023

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 9 August 2024.




Mr J Bust
Director















 








The notes on pages 4 to 10 form part of these financial statements.
Page 2

 
Deseo Limited
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
100
-
91,392
91,492


Comprehensive income for the year

Profit for the year
-
-
78,221
78,221


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(68,931)
(68,931)



At 1 January 2023
100
-
100,682
100,782


Comprehensive income for the year

Profit for the year
-
-
80,335
80,335


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(88,835)
(88,835)

Transfer to/from profit and loss account
-
-
(1,158)
(1,158)

Transfer between other reserves
-
1,158
-
1,158


At 31 December 2023
100
1,158
91,024
92,282















The notes on pages 4 to 10 form part of these financial statements.
Page 3

 
Deseo Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

Deseo Limited is private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex SS11 7HQ.

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 following principal accounting policies have been applied:

 
2.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.3

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.

Page 4

 
Deseo Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance basis.

Depreciation is provided at the following rates:

Motor vehicles
-
30%
Reducing balance
Computer equipment
-
50%
Straight line

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.

 
2.4

Valuation of investments

Investments in listed company shares and crypocurrencies are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 5

 
Deseo Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'Administrative expenses'.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
Deseo Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.11

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 income 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

2023
2022
£
£

Wages and salaries
-
20,328

-
20,328


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 7

 
Deseo Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

4.


Tangible fixed assets





Motor vehicles
Computer equipment
Total

£
£
£



Cost


At 1 January 2023
12,096
618
12,714



At 31 December 2023

12,096
618
12,714



Depreciation


At 1 January 2023
10,686
309
10,995


Charge for the year
424
309
733



At 31 December 2023

11,110
618
11,728



Net book value



At 31 December 2023
986
-
986



At 31 December 2022
1,411
309
1,720


5.


Fixed asset investments





Other fixed asset investments

£



Valuation


Additions
14,671


Revaluations
1,544



At 31 December 2023
16,215




Page 8

 
Deseo Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
29,545

Other debtors
16
646

Prepayments and accrued income
756
-

772
30,191


Included within other debtors due within one year is a loan to Mr J Bust, a director, amounting to £Nil (2022 - £646). The maximum balance outstanding during the year was £88,781 (2022 - £35,000). No interest has been charged on this loan.


7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
129,012
125,004



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,991
5,254

Corporation tax
22,211
18,248

Other taxation and social security
-
2,492

Amounts owed to related parties
25,415
25,363

Accruals and deferred income
2,700
4,776

54,317
56,133



9.


Deferred taxation




2023


£






Charge for the year
386



At end of year
386

Page 9

 
Deseo Limited
 
 
Notes to the financial statements
For the year ended 31 December 2023
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
2022
£
£


Fair value movement on crypto currency
386
-


10.


Related party transactions

At the balance sheet date, the amount due to Crestwood Holdings Limited, the parent company, amounted to £25,415 (2022 - £25,363). No interest was charged on this loan.

 
Page 10