Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truetruetruetruetruetruefalse2023-01-01falseThe principal activity of the Company during the year was that of the production of television commercials and content advertising.1213false 08697077 2023-01-01 2023-12-31 08697077 2022-01-01 2022-12-31 08697077 2023-12-31 08697077 2022-12-31 08697077 c:Director1 2023-01-01 2023-12-31 08697077 c:Director2 2023-01-01 2023-12-31 08697077 c:Director2 2023-12-31 08697077 c:Director3 2023-01-01 2023-12-31 08697077 c:RegisteredOffice 2023-01-01 2023-12-31 08697077 d:FurnitureFittings 2023-01-01 2023-12-31 08697077 d:FurnitureFittings 2023-12-31 08697077 d:FurnitureFittings 2022-12-31 08697077 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08697077 d:OfficeEquipment 2023-01-01 2023-12-31 08697077 d:OfficeEquipment 2023-12-31 08697077 d:OfficeEquipment 2022-12-31 08697077 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08697077 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08697077 d:CurrentFinancialInstruments 2023-12-31 08697077 d:CurrentFinancialInstruments 2022-12-31 08697077 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08697077 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08697077 d:ReportableOperatingSegment1 2023-01-01 2023-12-31 08697077 d:ReportableOperatingSegment1 2022-01-01 2022-12-31 08697077 e:UnitedKingdom 2023-01-01 2023-12-31 08697077 e:UnitedKingdom 2022-01-01 2022-12-31 08697077 d:UKTax 2023-01-01 2023-12-31 08697077 d:UKTax 2022-01-01 2022-12-31 08697077 d:ShareCapital 2023-12-31 08697077 d:ShareCapital 2022-12-31 08697077 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 08697077 d:RetainedEarningsAccumulatedLosses 2023-12-31 08697077 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 08697077 d:RetainedEarningsAccumulatedLosses 2022-12-31 08697077 d:RetainedEarningsAccumulatedLosses 2022-01-01 08697077 c:OrdinaryShareClass1 2023-01-01 2023-12-31 08697077 c:OrdinaryShareClass1 2023-12-31 08697077 c:OrdinaryShareClass1 2022-12-31 08697077 c:FRS102 2023-01-01 2023-12-31 08697077 c:Audited 2023-01-01 2023-12-31 08697077 c:FullAccounts 2023-01-01 2023-12-31 08697077 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08697077 d:WithinOneYear 2023-12-31 08697077 d:WithinOneYear 2022-12-31 08697077 d:BetweenOneFiveYears 2023-12-31 08697077 d:BetweenOneFiveYears 2022-12-31 08697077 2 2023-01-01 2023-12-31 08697077 6 2023-01-01 2023-12-31 08697077 f:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08697077









CAVIAR LONDON LIMITED









DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CAVIAR LONDON LIMITED
 
 
COMPANY INFORMATION


Directors
B Hamelinck 
N Linclau (resigned 2 April 2024)
S Shepherd 




Registered number
08697077



Registered office
75 Newman Street

London

W1T 3EN




Independent auditors
Nyman Libson Paul LLP
Chartered Accountants & Statutory Auditors

124 Finchley Road

London

NW3 5JS





 
CAVIAR LONDON LIMITED
 

CONTENTS



Page
Directors' report
 
1 - 2
Independent auditors' report
 
3 - 6
Statement of income and retained earnings
 
7
Statement of financial position
 
8
Notes to the financial statements
 
9 - 18


 
CAVIAR LONDON LIMITED
 
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

The directors present their report and the financial statements for the year ended 31 December 2023.

Directors

The directors who served during the year were:

B Hamelinck 
N Linclau (resigned 2 April 2024)
S Shepherd 

Directors' responsibilities statement

The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are 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 directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK 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 directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006They are 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.

Disclosure of information to auditors

Each of the persons who are directors at the time when this directors' report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsNyman Libson Paul LLPwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Page 1

 
CAVIAR LONDON LIMITED
 
 
 
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





B Hamelinck
Director

Date: 17 September 2024

Page 2

 
CAVIAR LONDON LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAVIAR LONDON LIMITED
 

Opinion


We have audited the financial statements of Caviar London Limited (the 'Company') for the year ended 31 December 2023, which comprise the statement of income and retained earnings, the statement of financial position and the related notes, including a summary of significant accounting policiesThe 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 loss for the year 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 United Kingdom, including the Financial Reporting Council'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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.


Page 3

 
CAVIAR LONDON LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAVIAR LONDON LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the Annual ReportOur 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. 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 course of 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.


Opinion 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 directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors' report has been prepared in accordance with applicable legal requirements.


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 directors' report.


We have nothing to report in respect of the following matters in relation to which 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 directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.


Responsibilities of directors
 

As explained more fully in the directors' responsibilities statement set out on page 1, the directors are 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 directors determine is 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 directors are 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 directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 4

 
CAVIAR LONDON LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAVIAR LONDON LIMITED (CONTINUED)


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 an auditors' report 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.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We focussed on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit.


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 auditors' report.


Page 5

 
CAVIAR LONDON LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAVIAR LONDON LIMITED (CONTINUED)


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 2006Our 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 an auditors' report 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.





Anthony Pins (senior statutory auditor)
  
for and on behalf of
Nyman Libson Paul LLP
 
Chartered Accountants & Statutory Auditors
  
124 Finchley Road
London
NW3 5JS

17 September 2024
Page 6

 
CAVIAR LONDON LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2023

2023
2022
Note
£
£

  

Turnover
 4 
5,669,153
13,781,599

Cost of sales
  
(4,355,870)
(11,802,649)

Gross profit
  
1,313,283
1,978,950

Administrative expenses
  
(1,352,885)
(1,444,165)

Operating (loss)/profit
 5 
(39,602)
534,785

Interest receivable and similar income
 9 
15,582
1,737

(Loss)/profit before tax
  
(24,020)
536,522

Tax on (loss)/profit
 10 
-
(102,151)

(Loss)/profit after tax
  
(24,020)
434,371

  

  

Retained earnings at the beginning of the year
  
1,246,935
1,062,564

  
1,246,935
1,062,564

(Loss)/profit for the year
  
(24,020)
434,371

Dividends declared and paid
  
-
(250,000)

Retained earnings at the end of the year
  
1,222,915
1,246,935
The notes on pages 9 to 18 form part of these financial statements.

Page 7

 
CAVIAR LONDON LIMITED
REGISTERED NUMBER: 08697077

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
13,618
24,265

Investments
 13 
50
-

Current assets
  

Debtors: amounts falling due within one year
 14 
475,971
1,669,820

Current asset investments
 15 
250,000
-

Cash at bank and in hand
 16 
725,828
883,488

  
1,451,799
2,553,308

Creditors: amounts falling due within one year
 17 
(232,552)
(1,320,638)

Net current assets
  
 
 
1,219,247
 
 
1,232,670

Total assets less current liabilities
  
1,232,915
1,256,935

  

Net assets
  
1,232,915
1,256,935


Capital and reserves
  

Called up share capital 
 18 
10,000
10,000

Profit and loss account
  
1,222,915
1,246,935

  
1,232,915
1,256,935


The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2024.




B Hamelinck
Director

The notes on pages 9 to 18 form part of these financial statements.

Page 8

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Caviar London Limited is a private company limited by shares and incorporated in England and Wales.
The address of the registered office is 75 Newman Street, London, United Kingdom, W1T 3EN.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows;
the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Liberty Global Limited as at 31 December 2023 and these financial statements may be obtained from https://www.libertyglobal .com/wp-content /uploads/2024/04/LG -2023-10-K-ANNUAL-REPORT .pdf.

 
2.3

Going concern

The company meets its day to day working capital requirements through the utilisation of its own funds.
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors therefore continue to adopt the going concern basis in preparing the financial statements.

 
2.4

Revenue

Turnover comprises fees receivable for the production of television commercials and content advertising is recognised based on the stage of completion of the project. The stage of completion is determined by reviewing the production schedule and the expenditure incurred at the reporting date.

Page 9

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold property
-
over 5 years
Office equipment
-
20% 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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

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. 

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade debtors, trade creditors and bank loans.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.

Page 10

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

Foreign currency translation

Functional and presentation currency

The presentational and functional currency of these financial statemnets is GBP. Values are rounded to the nearest pound.

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.13

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.14

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.15

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 11

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

Taxation

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 reporting date in the countries where the Company operates and generates income.

 
2.17

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilites as at the reporting date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.
Project stage of completion
The company makes an estimate of the project's stage of completion when assessing the income and expendture to recognise in the statement of income and retained earnings.  The stage of completion is estimated by reference to the work performed in comparison to the production schedule and the cost incurred in comparison to the budget.
Accruals
The company makes an estimate of accruals at the year end based on invoices received after the year end which relate to the year and which have not been invoiced.
Tangible assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending upon a number of factors. In re-assessing the assets' lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account.
Impairment of debtors
The company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the current credit rating of the debtor, the ageing profile and historical experience.

Page 12

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Turnover

An analysis of turnover by class of business is as follows:


2023
2022
£
£

Television commercial production
5,669,153
13,781,599

5,669,153
13,781,599


Analysis of turnover by country of destination:

2023
2022
£
£

United Kingdom
5,669,153
13,781,599

5,669,153
13,781,599



5.


Operating (loss)/profit

The operating (loss)/profit is stated after charging:

2023
2022
£
£

Depreciation of tangible fixed assets
10,647
11,015

Other operating lease rentals
62,120
66,519

Defined contribution pension cost
12,424
13,618

Fees for the audit of the company
9,250
9,250


6.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors:


2023
2022
£
£

Fees payable to the Company's auditors for the audit of the Company's financial statements
9,250
9,250

Fees payable to the Company's auditors in respect of:

Preparation of the financial statements
2,375
2,375

Preparation of the corporation tax return
1,875
1,875

Page 13

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Employees

Staff costs, including directors' remuneration, were as follows:


2023
2022
£
£

Wages and salaries
827,783
884,562

Social security costs
98,707
112,836

Cost of defined contribution scheme
12,424
13,618

938,914
1,011,016


The average monthly number of employees, including the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
12
13


8.


Directors' remuneration

2023
2022
£
£

Directors' emoluments
189,000
180,000

Company contributions to defined contribution pension schemes
1,321
1,321

190,321
181,321


During the year retirement benefits were accruing to 1 director (2022 - 1) in respect of defined contribution pension schemes.


9.


Interest receivable

2023
2022
£
£


Bank and other interest receivable
15,582
1,737

15,582
1,737

Page 14

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
-
105,373

Adjustments in respect of previous periods
-
(210)


Total current tax
-
105,163

Deferred tax


Origination and reversal of timing differences
-
(3,012)

Total deferred tax
-
(3,012)


Taxation on profit on ordinary activities
-
102,151

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2022 - higher than) the standard rate of corporation tax in the UK of 23.5% (2022 - 19%). The differences are explained below:

2023
2022
£
£


(Loss)/profit on ordinary activities before tax
(24,020)
536,522


(Loss)/profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 23.5% (2022 - 19%)
(5,645)
101,939

Effects of:


Expenses not deductible for tax purposes
2,695
2,715

Capital allowances for year in excess of depreciation
2,365
719

Adjustments to tax charge in respect of prior periods
-
(210)

Unrelieved tax losses carried forward
585
-

Deferred taxation
-
(3,012)

Total tax charge for the year
-
102,151

Page 15

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Dividends

2023
2022
£
£


Final dividends
-
250,000

-
250,000


12.


Tangible fixed assets





Leasehold property
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
11,588
84,433
96,021



At 31 December 2023

11,588
84,433
96,021



Depreciation


At 1 January 2023
11,588
60,168
71,756


Charge for the year on owned assets
-
10,647
10,647



At 31 December 2023

11,588
70,815
82,403



Net book value



At 31 December 2023
-
13,618
13,618



At 31 December 2022
-
24,265
24,265


13.


Fixed asset investments





Investments in associates

£



Cost or valuation


Additions
50



At 31 December 2023
50




Page 16

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

14.


Debtors

2023
2022
£
£


Trade debtors
284,233
1,509,589

Other debtors
117,796
15,203

Prepayments and accrued income
73,942
145,028

475,971
1,669,820



15.


Current asset investments

2023
2022
£
£

Investment
250,000
-

250,000
-



16.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
725,828
883,488

Less: bank overdrafts
(242)
-

725,586
883,488



17.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
242
-

Trade creditors
112,869
25,876

Corporation tax
-
105,373

Other taxation and social security
50,073
330,979

Accruals and deferred income
69,368
858,410

232,552
1,320,638


Page 17

 
CAVIAR LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

18.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



19.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held
seperately from those of the Company in an independantly administered fund. The pension cost charge
represents contributions payable by the Company to the fund and amounted to £12,424 (2022: £13,618).
Contributions totalling £2,625 (2022: £2,825) were payable to the fund at the reporting date and are included in creditors.


20.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
30,406
53,211

Later than 1 year and not later than 5 years
-
30,406

30,406
83,617


21.


Related party transactions

The Company has taken advantage of the exemption available in Section 33.7 of FRS 102, whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertakings of the group.
During the year recoupable production funding totalling £250,000 and production finance totalling £100,000 was provided to a joint venture company with common directors.  Also during the year  recharges totalling £448 and interest receivable, charged at 5%, totalling £2,643 were due to Caviar London Limited.  At the reporting date recoupable production funding of £250,000 and production finance of £102,593 was due to Caviar London Limited.


22.


Controlling party

The Company's immediate parent undertaking is Caviar Antwerp BV and the ultimate parent undertaking is Liberty Global Ltd, a company registered in Bermuda.
In the Director's opinion there is no natural person that qualifies as the ultimate controlling party.

 
Page 18