REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CREANOVA UNIVERSAL CLOSURES LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2024 |
for |
CREANOVA UNIVERSAL CLOSURES LIMITED |
CREANOVA UNIVERSAL CLOSURES LIMITED (REGISTERED NUMBER: 05247817) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Chartered Accountants' Report | 2 |
Balance Sheet | 3 |
Notes to the Financial Statements | 4 |
CREANOVA UNIVERSAL CLOSURES LIMITED |
Company Information |
for the year ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Creanova Universal Closures Limited |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Creanova Universal Closures Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
This report is made solely to the Board of Directors of Creanova Universal Closures Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Creanova Universal Closures Limited and state those matters that we have agreed to state to the Board of Directors of Creanova Universal Closures Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Creanova Universal Closures Limited and its Board of Directors, as a body, for our work or for this report. |
It is your duty to ensure that Creanova Universal Closures Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Creanova Universal Closures Limited. You consider that Creanova Universal Closures Limited is exempt from the statutory audit requirement for the year. |
We have not been instructed to carry out an audit or a review of the financial statements of Creanova Universal Closures Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
Chartered Accountants |
11 Laura Place |
Bath |
BA2 4BL |
CREANOVA UNIVERSAL CLOSURES LIMITED (REGISTERED NUMBER: 05247817) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £m | £m | £m | £m |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
CREANOVA UNIVERSAL CLOSURES LIMITED (REGISTERED NUMBER: 05247817) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Creanova Universal Closures Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The Directors have considered the cash flow for the Company and confirmed that the Company will be able to meet its liabilities as they fall due, therefore the Directors consider that the Company will continue in operational existence for the foreseeable future. |
Preparation of consolidated financial statements |
The financial statements contain information about Creanova Universal Closures Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less accumulated impairment. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss. |
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract. |
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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 |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
CREANOVA UNIVERSAL CLOSURES LIMITED (REGISTERED NUMBER: 05247817) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
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 year 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 agreements |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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 |
The average number of employees during the year was |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertaking |
£m |
COST |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: 11 Laura Place,Bath BA2 4BL |
Nature of business: |
% |
Class of shares: | holding |
CREANOVA UNIVERSAL CLOSURES LIMITED (REGISTERED NUMBER: 05247817) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
4. | FIXED ASSET INVESTMENTS - continued |
Registered office: 7300 North Kendall Drive £521, Miami, FL 33156 |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Avenida Brigadeiro Faria Lima, 1.355, 17 andar, sala B, San Paulo, State of San Paulo, CEP 01452-0919, Brazil |
Nature of business: |
% |
Class of shares: | holding |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£m | £m |
Amounts owed by group undertakings |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£m | £m |
Trade creditors |
Other creditors |
The hire purchase liabilities are secured against the assets to which they relate, the assets are included on the balance sheet of Universal Closures Limited a subsidiary. |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£m | £m |
Other creditors |
The hire purchase liabilities are secured against the assets to which they relate, the assets are included on the balance sheet of Universal Closures Limited a subsidiary. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
A Ordinary | 1 | 213,809 | 213,809 |
B Ordinary | 1 | 54,599 | 71,166 |
268,408 | 284,975 |
The B shares are equity shares and do not have attached to them full voting rights until they are full paid up or credited as fully paid. On winding up the B shares rank pari passy with the A shares.Whenever the capital is divided into other classes any special rights may be varied or abrogated only with the consent of 75% of the issued shares. |
CREANOVA UNIVERSAL CLOSURES LIMITED (REGISTERED NUMBER: 05247817) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
9. | CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTIES |
No significant judgements or key assumptions have had to be made by the directors in preparing these financial statements. |