Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31Sales of Spas112023-01-01false8truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03483434 2023-01-01 2023-12-31 03483434 2022-01-01 2022-12-31 03483434 2023-12-31 03483434 2022-12-31 03483434 c:Director1 2023-01-01 2023-12-31 03483434 d:PlantMachinery 2023-01-01 2023-12-31 03483434 d:PlantMachinery 2023-12-31 03483434 d:PlantMachinery 2022-12-31 03483434 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03483434 d:MotorVehicles 2023-01-01 2023-12-31 03483434 d:MotorVehicles 2023-12-31 03483434 d:MotorVehicles 2022-12-31 03483434 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03483434 d:FurnitureFittings 2023-01-01 2023-12-31 03483434 d:FurnitureFittings 2023-12-31 03483434 d:FurnitureFittings 2022-12-31 03483434 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03483434 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03483434 d:CurrentFinancialInstruments 2023-12-31 03483434 d:CurrentFinancialInstruments 2022-12-31 03483434 d:Non-currentFinancialInstruments 2023-12-31 03483434 d:Non-currentFinancialInstruments 2022-12-31 03483434 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03483434 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03483434 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03483434 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03483434 d:ShareCapital 2023-12-31 03483434 d:ShareCapital 2022-12-31 03483434 d:RetainedEarningsAccumulatedLosses 2023-12-31 03483434 d:RetainedEarningsAccumulatedLosses 2022-12-31 03483434 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 03483434 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 03483434 c:FRS102 2023-01-01 2023-12-31 03483434 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03483434 c:FullAccounts 2023-01-01 2023-12-31 03483434 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03483434 2 2023-01-01 2023-12-31 03483434 6 2023-01-01 2023-12-31 03483434 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03483434









CATALINA SPAS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CATALINA SPAS LIMITED
REGISTERED NUMBER: 03483434

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,115
30,925

Investments
 5 
1
1

  
20,116
30,926

Current assets
  

Stocks
 6 
565,250
672,728

Debtors: amounts falling due within one year
 7 
127,863
178,714

Cash at bank and in hand
 8 
208,858
180,611

  
901,971
1,032,053

Creditors: amounts falling due within one year
 9 
(611,764)
(589,678)

Net current assets
  
 
 
290,207
 
 
442,375

Total assets less current liabilities
  
310,323
473,301

Creditors: amounts falling due after more than one year
 10 
(154,409)
(201,335)

  

Net assets
  
155,914
271,966


Capital and reserves
  

Called up share capital 
  
74
74

Profit and loss account
  
155,840
271,892

  
155,914
271,966


Page 1

 
CATALINA SPAS LIMITED
REGISTERED NUMBER: 03483434
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The director considers 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 director acknowledges his 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 September 2024.





................................................
Stephen Crabb
Director

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

Page 2

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Catalina Spa Limited is a private company limited by shares, incorporated in England and Wales. The principal activity throughout the year was the supply of spa baths.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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

Page 3

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 balance sheet date in the countries where the Company operates and generates income.

 
2.9

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 and reducing balance method.

Depreciation is provided on the following basis:

Property improvements
-
Straight line over 10 years
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
15% reducing balance

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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 5

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.16

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.

Page 6

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2022 - 11).


4.


Tangible fixed assets





Property imp'mnts
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2023
166,288
78,748
68,994
314,030


Disposals
-
(7,000)
-
(7,000)



At 31 December 2023

166,288
71,748
68,994
307,030



Depreciation


At 1 January 2023
160,065
64,169
58,871
283,105


Charge for the year on owned assets
6,084
3,642
1,068
10,794


Disposals
-
(6,984)
-
(6,984)



At 31 December 2023

166,149
60,827
59,939
286,915



Net book value



At 31 December 2023
139
10,921
9,055
20,115



At 31 December 2022
6,223
14,579
10,123
30,925


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
1



At 31 December 2023
1




Page 7

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Stocks

2023
2022
£
£

Raw materials and consumables
565,250
672,728

565,250
672,728



7.


Debtors

2023
2022
£
£


Trade debtors
3,032
368

Amounts owed by joint ventures and associated undertakings
60,482
65,582

Other debtors
63,002
111,713

Prepayments and accrued income
1,347
1,051

127,863
178,714


Included within other debtors due within one year is a loan of £54,429 (2022 - £83,079) to the director Stephen Crabb.




8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
208,858
180,611

Less: bank overdrafts
(5,464)
(7,595)

203,394
173,016


Page 8

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
5,464
7,595

Bank loans
51,590
47,810

Trade creditors
521,541
442,568

Corporation tax
-
16,615

Other taxation and social security
8,930
3,249

Other creditors
15,365
63,036

Accruals and deferred income
8,874
8,805

611,764
589,678


The bank loan is secured.


10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
154,409
201,335

154,409
201,335


The bank loan is secured.


11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
208,858
180,611




Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £3,717 (2022 - £4,028). Contributions totalling £Nil (2022 - £800) were payable to the fund at the balance sheet date.

Page 9

 
CATALINA SPAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Related party transactions

During the year £75,000 (2022 - £75,000) rental payments were made to the director Stephen Crabb and his wife Jennette Crabb.
 


14.


Controlling party

The Company is controlled by the director Stephen Crabb by virtue of his shareholding, as described in the Director's report.

 
Page 10