Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12264413 2023-04-01 2024-03-31 12264413 2022-04-01 2023-03-31 12264413 2024-03-31 12264413 2023-03-31 12264413 c:Director1 2023-04-01 2024-03-31 12264413 d:PlantMachinery 2023-04-01 2024-03-31 12264413 d:PlantMachinery 2024-03-31 12264413 d:PlantMachinery 2023-03-31 12264413 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12264413 d:OfficeEquipment 2023-04-01 2024-03-31 12264413 d:OfficeEquipment 2024-03-31 12264413 d:OfficeEquipment 2023-03-31 12264413 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12264413 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 12264413 d:FreeholdInvestmentProperty 2023-04-01 2024-03-31 12264413 d:FreeholdInvestmentProperty 2024-03-31 12264413 d:FreeholdInvestmentProperty 2023-03-31 12264413 d:FreeholdInvestmentProperty 2 2023-04-01 2024-03-31 12264413 d:CurrentFinancialInstruments 2024-03-31 12264413 d:CurrentFinancialInstruments 2023-03-31 12264413 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 12264413 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12264413 d:ShareCapital 2024-03-31 12264413 d:ShareCapital 2023-03-31 12264413 d:RevaluationReserve 2024-03-31 12264413 d:RevaluationReserve 2023-03-31 12264413 d:RetainedEarningsAccumulatedLosses 2024-03-31 12264413 d:RetainedEarningsAccumulatedLosses 2023-03-31 12264413 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 12264413 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 12264413 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 12264413 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 12264413 d:OtherDeferredTax 2024-03-31 12264413 d:OtherDeferredTax 2023-03-31 12264413 c:FRS102 2023-04-01 2024-03-31 12264413 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 12264413 c:FullAccounts 2023-04-01 2024-03-31 12264413 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 12264413 2 2023-04-01 2024-03-31 12264413 5 2023-04-01 2024-03-31 12264413 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 12264413









THE CAVALLARI COMPANY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE CAVALLARI COMPANY LIMITED
REGISTERED NUMBER: 12264413

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,706
-

Investment property
 5 
475,000
501,783

  
476,706
501,783

Current assets
  

Debtors
  
5,732
-

Cash at bank and in hand
 6 
28,489
8,567

  
34,221
8,567

Creditors: amounts falling due within one year
 7 
(515,687)
(512,362)

Net current liabilities
  
 
 
(481,466)
 
 
(503,795)

Total assets less current liabilities
  
(4,760)
(2,012)

  

Net liabilities
  
(4,760)
(2,012)


Capital and reserves
  

Called up share capital 
  
1
1

Revaluation reserve
  
(18,167)
-

Profit and loss account
  
13,406
(2,013)

  
(4,760)
(2,012)


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 by: 

Page 1

 
THE CAVALLARI COMPANY LIMITED
REGISTERED NUMBER: 12264413
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024




................................................
Mr C Cavallari
Director
Date: 15 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
THE CAVALLARI COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Cavallari Company Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 501 Indigo Plaza, Ascot Road, Watford, WD18 8AX.
The principal activity of the company was that of property investment.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company director, who has committed to continue his support of the company.
If the company were unable to continue to trade adjustments would have to be made to reduce the value of the assets to their realisable amounts, to reclassify fixed assets as current assets, long-term liabilities as current liabilities, and to provide for any further liabilities that may arise.

 
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:

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.

Page 3

 
THE CAVALLARI COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance basis
Office equipment
-
15%
Reducing balance basis

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.

Page 4

 
THE CAVALLARI COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

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.

 
2.10

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.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.
Page 5

 
THE CAVALLARI COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)


Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Page 6

 
THE CAVALLARI COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


Additions
1,156
974
2,130



At 31 March 2024

1,156
974
2,130



Depreciation


Charge for the year on owned assets
289
135
424



At 31 March 2024

289
135
424



Net book value



At 31 March 2024
867
839
1,706



At 31 March 2023
-
-
-

Page 7

 
THE CAVALLARI COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 April 2023
501,783


Disposals
(2,560)


Surplus on revaluation
(24,223)



At 31 March 2024
475,000

The 2024 valuations were made by directors', on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
499,223
499,223

499,223
499,223


6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
28,489
8,567

28,489
8,567



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
3,239
-

Other creditors
509,973
509,662

Accruals and deferred income
2,475
2,700

515,687
512,362


Page 8

 
THE CAVALLARI COMPANY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
28,490
-




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


9.


Deferred taxation




2024


£






Charged to profit or loss
6,056


Utilised in year
(324)



At end of year
5,732

The deferred tax asset is made up as follows:

2024
2023
£
£


Accelerated capital allowances other tangible assets
(324)
-

Accelerated capital allowances on investment property
6,056
-

5,732
-

 
Page 9