REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
FOR |
CAZADORES INVESTMENTS LTD |
REGISTERED NUMBER: |
STRATEGIC REPORT, REPORT OF THE DIRECTOR AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
FOR |
CAZADORES INVESTMENTS LTD |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Director | 3 |
Report of the Independent Auditors | 5 |
Profit and Loss Account | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Financial Statements | 13 |
CAZADORES INVESTMENTS LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
Statutory Auditors |
Harben House |
Harben Parade |
Finchley Road |
LONDON |
NW3 6LH |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
STRATEGIC REPORT |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
The director presents his strategic report for the period 1 June 2023 to 31 December 2023. |
REVIEW OF BUSINESS |
The company was actively trading during the period. The primary activity was the provision of investment management services to clients. The company acts solely as an agent, investing monies held by clients in the client's name. Commissions are earned based on the returns on investment achieved. The company is registered with the Financial Conduct Authority for a range of investment activities, but is not permitted to hold any client monies. |
On 25 October 2023, the current accounting period was shortened from 31 May 2024 to 31 December 2023. |
The results are shown on page 9. Profit for the period after tax is £118,931 (2023: £236,130). |
Turnover during the financial period was £266,025 (2023: £409,757) which consists of investment management income. Other income consisted of gains/(losses) on revaluation of investments of £4,418 (2023: £63,152) which was generated on the company's own investments. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The company has identified the loss of its licence granted by the Financial Conduct Authority a principal risk. Without this licence the company would no longer be authorised to carry out the investment activities which currently generate the entirety of its revenue. The company is also heavily dependent on the technical expertise of key individuals, the loss of whom would leave the company without the necessary knowledge to conduct its business. |
Adverse market conditions may impact the ability of the company to generate significant returns on client investments. The company has a limited number of customers and therefore the loss of just one customer might impact the company significantly. This would have a commensurate impact on the amount of commission generated. |
SECTION 172(1) STATEMENT |
Delivering our strategy requires strong mutually beneficial relationships with suppliers and customers. The ability to promote these principles effectively is an important factor in the decision to enter into or remain in such relationships and the directors review all relationships on a regular basis. The directors also review and approve the company's approach to suppliers which is to ensure suppliers remain informed as to the company's decisions and the most suitable suppliers are identified. The company continuously assesses the priorities related to customers and those with whom we do business, and the Board engages with the businesses on these topics, for example, within the context of business strategy updates and investment proposals. |
KEY PERFORMANCE INDICATORS |
The directors consider key performance indicators to be as follows: |
Turnover has decreased by 35% from £409,757 last year to £266,025. |
Gross profit margin has increased from 85% last year to 86%. |
Analysis of the key performance indicators shows a reduction in the ability of the company to generate funds year on year. This was due to general market conditions and tougher competition. The company, however, remains profitable with substantial reserves so the directors do not consider the results for the year and the position at the year end to be of significant concern. |
ON BEHALF OF THE BOARD: |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
REPORT OF THE DIRECTOR |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
The director presents his report with the financial statements of the company for the period 1 June 2023 to 31 December 2023. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the period under review was that of regulated investment activities. |
DIVIDENDS |
No interim dividend was paid during the period. The director recommends a final dividend of £ |
The total distribution of dividends for the period ended 31 December 2023 will be £ |
FUTURE DEVELOPMENTS |
No significant changes to the operations of the business are anticipated. |
DIRECTOR |
FINANCIAL INSTRUMENTS |
The company's principal financial instruments comprise bank balances, trade debtors, other debtors and trade creditors. As a result there is exposure to credit, liquidity and cash flow risks. The company regularly reviews amounts owed to creditors to make sure that cash is available to make all payments as and when they fall due. The company periodically monitors amounts due from debtors to ensure these are recovered as soon as possible.These steps helps to mitigate liquidity and cash flow risks. |
STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
REPORT OF THE DIRECTOR |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
AUDITORS |
The auditors, KBSP Partners LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CAZADORES INVESTMENTS LTD |
Opinion |
We have audited the financial statements of Cazadores Investments Ltd (the 'company') for the period ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the period then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report. |
Other information |
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CAZADORES INVESTMENTS LTD |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of director's remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of director |
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CAZADORES INVESTMENTS LTD |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
- We considered the nature of the company's business and its control environment, and reviewed the company's documentation of their policies and procedures relating to fraud and compliance with laws and regulations. We also enquired of management about their own identification and assessment of the risks of irregularities. |
- We also obtained an understanding of the legal and regulatory framework that the company operates in, and identified the key laws and regulations that: |
(i) had a direct effect on the determination of material amounts and disclosures in the financial statements. These included Finance Services and Markets Act (FSMA) 2000, Financial Conduct Authority rules and regulations, UK Companies Act, tax legislation; and |
(ii) laws which do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. |
- We discussed among the audit engagement team the opportunities and incentives that may exist within the company for fraud and how and where fraud might occur in the financial statements. |
- In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. In addressing the risk of fraud through management override of controls, we assessed the appropriateness of journal entries and other adjustments, and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business. |
- In addition to the above, our procedures to respond to the risks identified included the following: |
(i) reviewing financial statement disclosures by testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; |
(ii) performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; |
(iii) enquiring of management as to any actual and or potential litigation and claims, and instances of non-compliance with laws and regulations; and |
(iv) reading minutes of meetings of those charged with governance. |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards are also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondences, if any. |
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CAZADORES INVESTMENTS LTD |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Accountants |
Statutory Auditors |
Harben House |
Harben Parade |
Finchley Road |
LONDON |
NW3 6LH |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
PROFIT AND LOSS ACCOUNT |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
Notes | £ | £ |
TURNOVER |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
150,270 | 196,559 |
Other operating income |
Gain/loss on revaluation of investments | 4,418 | 63,152 |
OPERATING PROFIT | 4 |
Interest payable and similar expenses | 5 |
PROFIT BEFORE TAXATION |
Tax on profit | 6 |
PROFIT FOR THE FINANCIAL PERIOD |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 8 |
CURRENT ASSETS |
Debtors | 9 |
Investments | 10 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 11 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 12 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 13 |
Retained earnings | 14 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 June 2022 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 May 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31 December 2023 |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
CASH FLOW STATEMENT |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 18 |
Interest paid | ( |
) | ( |
) |
Tax paid |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) |
Purchase of investments | - | (527,940 | ) |
Sale of investments | - | 146,139 |
Net cash from investing activities | ( |
) | ( |
) |
Cash flows from financing activities |
Amount withdrawn by directors | 16,636 | 1,763 |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
Decrease in cash and cash equivalents | ( |
) | ( |
) |
Cash and cash equivalents at beginning of period |
19 |
374,869 |
Cash and cash equivalents at end of period |
19 |
209,364 |
252,690 |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Cazadores Investments Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
i) Critical judgement in applying the entity's accounting policies |
There are no critical judgements in applying the entities accounting policies. |
ii) Critical accounting estimates and assumptions |
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. |
Impairment of debtors |
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of trade and other debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes in respect of investment advisory services. Turnover is recognised when a client's investment is sold on its behalf and a gain is made for which commission is due.. |
Tangible fixed assets |
Motor vehicles | - |
Computer equipment | - |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. |
(i) Financial assets |
Basic financial assets, including trade debtors and other debtors, cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where a transaction is measured at the present vale of the future receipts discounted at a market rate of interest. |
Such assets are subsequently carried at amortised cost using the effective interest method. |
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit and loss. |
Investments in equity instruments other than subsidiaries, associates or joint ventures are initially measured at fair value, which is usually the transaction price. Such assets are subsequently carried at fair value with any changes in fair value recognised in profit or loss except where the instruments are not publicly traded and their value cannot be reliably measured in which case they are measured at cost less impairment. |
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
(ii) Financial liabilities |
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at present value of the future receipts discounted a market rate of interest. |
Debt instruments are subsequently carried at amortised cost, using the effective interest method. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Other creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Cash and cash equivalents |
Cash includes cash in hand, deposits held with banks. Cash equivalents are highly liquid investments that are readily convertible to known amounts of cash with insignificant risk of change in value. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
3. | EMPLOYEES AND DIRECTORS |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
Wages and salaries |
Social security costs |
The average number of employees during the period was as follows: |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
Directors |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
Director's remuneration |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
4. | OPERATING PROFIT |
The operating profit is stated after charging: |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
Foreign exchange differences |
5. | INTEREST PAYABLE AND SIMILAR EXPENSES |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
HMRC Interest |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the period was as follows: |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
Current tax: |
UK corporation tax |
Deferred tax |
Tax on profit |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
6. | TAXATION - continued |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Income not taxable for tax purposes | ( |
) | ( |
) |
Capital allowances in excess of depreciation | ( |
) | - |
Deferred tax | 24,205 | 15,612 |
Total tax charge | 33,382 | 54,949 |
7. | DIVIDENDS |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
Ordinary shares of £1 each |
Final |
8. | TANGIBLE FIXED ASSETS |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1 June 2023 |
Additions |
At 31 December 2023 |
DEPRECIATION |
At 1 June 2023 |
Charge for period |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 May 2023 |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
9. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 78,157 | 94,793 |
Deferred tax asset |
Prepayments and accrued income |
10. | CURRENT ASSET INVESTMENTS |
2023 | 2023 |
£ | £ |
Listed investments | 903,766 | 899,347 |
Market value of listed investments at 31 December 2023 - £ 903,766 (2023 - £ 899,347 ). |
11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2023 |
£ | £ |
Trade creditors |
Tax |
Accrued expenses |
12. | PROVISIONS FOR LIABILITIES |
2023 |
£ |
Deferred tax | 13,492 |
Deferred |
tax |
£ |
Balance at 1 June 2023 | ( |
) |
Provided during period |
Balance at 31 December 2023 |
13. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2023 |
value: | £ | £ |
Ordinary | £1 | 100,000 | 100,000 |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
14. | RESERVES |
Retained |
earnings |
£ |
At 1 June 2023 |
Profit for the period |
Dividends | ( |
) |
At 31 December 2023 |
15. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the period ended 31 December 2023 and the year ended 31 May 2023: |
2023 | 2023 |
£ | £ |
Balance outstanding at start of period |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
16. | RELATED PARTY DISCLOSURES |
2023 | 2023 |
£ | £ |
Amount due from related party |
17. | ULTIMATE CONTROLLING PARTY |
The controlling party is J H Dedman. |
18. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
period |
1.6.23 |
to | year ended |
31.12.23 | 31.5.23 |
£ | £ |
Profit before taxation |
Depreciation charges |
Gain on revaluation of fixed assets | (4,418 | ) | (63,152 | ) |
Finance costs | 2,375 | 2,358 |
163,033 | 231,378 |
(Increase)/decrease in trade and other debtors | ( |
) |
Increase/(decrease) in trade and other creditors | ( |
) |
Cash generated from operations |
CAZADORES INVESTMENTS LTD (REGISTERED NUMBER: 10181648) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JUNE 2023 TO 31 DECEMBER 2023 |
19. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Period ended 31 December 2023 |
31.12.23 | 1.6.23 |
£ | £ |
Cash and cash equivalents | 209,364 | 252,690 |
Year ended 31 May 2023 |
31.5.23 | 1.6.22 |
£ | £ |
Cash and cash equivalents | 252,690 | 374,869 |
20. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.6.23 | Cash flow | At 31.12.23 |
£ | £ | £ |
Net cash |
Cash at bank | 252,690 | (43,326 | ) | 209,364 |
252,690 | ( |
) | 209,364 |
Liquid resources |
Current asset investments | 899,347 | 4,419 | 903,766 |
899,347 | 4,419 | 903,766 |
Total | 1,152,037 | (38,907 | ) | 1,113,130 |