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Registration number: 06549991

Cataquet & Associates Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Cataquet & Associates Limited

(Registration number: 06549991)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,002

1,336

Current assets

 

Debtors

5

17,312

353

Cash at bank and in hand

 

4,080

19,710

 

21,392

20,063

Creditors: Amounts falling due within one year

6

(13,625)

(12,037)

Net current assets

 

7,767

8,026

Total assets less current liabilities

 

8,769

9,362

Creditors: Amounts falling due after more than one year

6

(2,703)

(4,573)

Net assets

 

6,066

4,789

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

6,064

4,787

Shareholders' funds

 

6,066

4,789

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 2 October 2024 and signed on its behalf by:
 

 

Cataquet & Associates Limited

(Registration number: 06549991)

Balance Sheet as at 31 March 2024 (continued)

.........................................

Mrs M D Mather Cataquet
Director

 

Cataquet & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

Accounting policies

Statutory information

Cataquet & Associates Limited is a private company, limited by shares, domiciled in England and Wales, company number 06549991. The registered office is at 23 Heath Crescent, Davenport Stockport, SK2 6JN.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Cataquet & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

1

Accounting policies (continued)

Asset class

Depreciation method and rate

Office equipment

25% reducing balance

Motor vehicles

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

4 years straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

 

Cataquet & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Intangible assets

Goodwill
 £

Cost or valuation

At 1 April 2023

30,000

At 31 March 2024

30,000

Amortisation

At 1 April 2023

30,000

At 31 March 2024

30,000

Carrying amount

At 31 March 2024

-

4

Tangible assets

Office equipment
£

Cost or valuation

At 1 April 2023

3,323

At 31 March 2024

3,323

Depreciation

At 1 April 2023

1,987

Charge for the year

334

At 31 March 2024

2,321

Carrying amount

At 31 March 2024

1,002

At 31 March 2023

1,336

 

Cataquet & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

16,645

-

Other debtors

667

353

 

17,312

353

6

Creditors

2024
£

2023
£

Due within one year

Loans and borrowings

1,510

1,510

Other taxes and social security

6,329

8,107

Directors current account

3,126

-

Accruals

2,660

2,420

13,625

12,037

Due after one year

Loans and borrowings

2,703

4,573



 

7

Related party transactions

During the year the directors had a loan with the company. The balance owed to the directors at the year end date was £3,126 (2023: overdrawn amount of £353). The loan is interest free.