Registered number
11942918
Cavaze Property Improvements Ltd
Unaudited Filleted Accounts
30 April 2024
Cavaze Property Improvements Ltd
Registered number: 11942918
Balance Sheet
as at 30 April 2024
As Restated
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 76,818 59,411
Current assets
Stocks 56,127 33,153
Debtors 4 103,277 310,305
Cash at bank and in hand 255,469 127,790
414,873 471,248
Creditors: amounts falling due within one year 5 (84,808) (76,872)
Net current assets 330,065 394,376
Total assets less current liabilities 406,883 453,787
Creditors: amounts falling due after more than one year 6 (25,068) (39,392)
Provisions for liabilities (9,476) (9,969)
Net assets 372,339 404,426
Capital and reserves
Called up share capital 2 2
Profit and loss account 372,337 404,424
Shareholders' funds 372,339 404,426
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Fairgrieve
Director
Approved by the board on 3 October 2024
Cavaze Property Improvements Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings Between 5 and 50 years
Motor vehicles 25% on a reducing balance basis
Fixtures, fittings, tools and equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 4
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 May 2023 19,585 6,262 65,887 91,734
Additions 9,098 5,326 16,700 31,124
At 30 April 2024 28,683 11,588 82,587 122,858
Depreciation
At 1 May 2023 49 3,131 29,143 32,323
Charge for the year 1,059 2,080 10,578 13,717
At 30 April 2024 1,108 5,211 39,721 46,040
Net book value
At 30 April 2024 27,575 6,377 42,866 76,818
At 30 April 2023 19,536 3,131 36,744 59,411
4 Debtors 2024 2023
£ £
Trade debtors 63,449 131,310
Other debtors 39,828 178,995
103,277 310,305
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Obligations under finance lease and hire purchase contracts 4,324 4,324
Trade creditors 29,429 18,606
Taxation and social security costs 37,747 40,605
Other creditors 3,308 3,337
84,808 76,872
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,500 27,500
Obligations under finance lease and hire purchase contracts 7,568 11,892
25,068 39,392
7 Other information
Cavaze Property Improvements Ltd is a private company limited by shares and incorporated in England. Its registered office is:
37 Rear Hope Street
Crook
County Durham
DL15 9EW
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