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REGISTERED NUMBER: 07982450 (England and Wales)











Financial Statements

for the Year Ended 31 March 2024

for

Canalta U.K. Limited

Canalta U.K. Limited (Registered number: 07982450)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Canalta U.K. Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: D G Clark





REGISTERED OFFICE: Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR





REGISTERED NUMBER: 07982450 (England and Wales)





AUDITORS: Knights Lowe Limited
Eldo House
Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Canalta U.K. Limited (Registered number: 07982450)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 515 755

CURRENT ASSETS
Debtors 5 9,516 22,727
Cash at bank and in hand 66,829 41,303
76,345 64,030
CREDITORS
Amounts falling due within one year 6 13,106 14,748
NET CURRENT ASSETS 63,239 49,282
TOTAL ASSETS LESS CURRENT LIABILITIES 63,754 50,037

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 63,654 49,937
SHAREHOLDERS' FUNDS 63,754 50,037

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2024 and were signed by:





D G Clark - Director


Canalta U.K. Limited (Registered number: 07982450)

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

1. STATUTORY INFORMATION

Canalta U.K. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover is calculated at a standard mark up on expenses and recharged to the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 30% on reducing balance and Straight line over 7 years

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Canalta U.K. Limited (Registered number: 07982450)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Impairment
At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Financial instruments
All of the company's financial instruments are considered to be basic. Basic financial instruments are recognised at amortised cost.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 15,978
DEPRECIATION
At 1 April 2023 15,223
Charge for year 240
At 31 March 2024 15,463
NET BOOK VALUE
At 31 March 2024 515
At 31 March 2023 755

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 9,147 22,357
Other debtors 369 370
9,516 22,727

Canalta U.K. Limited (Registered number: 07982450)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 106 23
Taxation and social security 5,463 6,979
Other creditors 7,537 7,746
13,106 14,748

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary 10p 100 100

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

James Knights BSc ACA (Senior Statutory Auditor)
for and on behalf of Knights Lowe Limited

9. ULTIMATE PARENT COMPANY

Blue Rock Management Limited (incorporated in Canada) is regarded by the directors as being the company's ultimate parent company.

The directors, however, consider that Canalta Controls Limited (incorporated in Canada) is, in substance, the company's controlling party. Although not having any direct capital influence, it is a company controlled by D G Clark, who is the ultimate controlling party.