Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-08-01falseProvision of primary education2224falsetruefalse 05477547 2022-08-01 2023-07-31 05477547 2021-08-01 2022-07-31 05477547 2023-07-31 05477547 2022-07-31 05477547 c:Director1 2022-08-01 2023-07-31 05477547 d:Buildings 2022-08-01 2023-07-31 05477547 d:Buildings 2023-07-31 05477547 d:Buildings 2022-07-31 05477547 d:Buildings d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05477547 d:Buildings d:LongLeaseholdAssets 2022-08-01 2023-07-31 05477547 d:Buildings d:LongLeaseholdAssets 2023-07-31 05477547 d:Buildings d:LongLeaseholdAssets 2022-07-31 05477547 d:PlantMachinery 2022-08-01 2023-07-31 05477547 d:PlantMachinery 2023-07-31 05477547 d:PlantMachinery 2022-07-31 05477547 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05477547 d:MotorVehicles 2022-08-01 2023-07-31 05477547 d:MotorVehicles 2023-07-31 05477547 d:MotorVehicles 2022-07-31 05477547 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05477547 d:OfficeEquipment 2022-08-01 2023-07-31 05477547 d:OfficeEquipment 2023-07-31 05477547 d:OfficeEquipment 2022-07-31 05477547 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05477547 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 05477547 d:CurrentFinancialInstruments 2023-07-31 05477547 d:CurrentFinancialInstruments 2022-07-31 05477547 d:Non-currentFinancialInstruments 2023-07-31 05477547 d:Non-currentFinancialInstruments 2022-07-31 05477547 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 05477547 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 05477547 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 05477547 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 05477547 d:ShareCapital 2023-07-31 05477547 d:ShareCapital 2022-07-31 05477547 d:SharePremium 2023-07-31 05477547 d:SharePremium 2022-07-31 05477547 d:RetainedEarningsAccumulatedLosses 2023-07-31 05477547 d:RetainedEarningsAccumulatedLosses 2022-07-31 05477547 c:OrdinaryShareClass1 2022-08-01 2023-07-31 05477547 c:OrdinaryShareClass1 2023-07-31 05477547 c:OrdinaryShareClass1 2022-07-31 05477547 c:FRS102 2022-08-01 2023-07-31 05477547 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 05477547 c:FullAccounts 2022-08-01 2023-07-31 05477547 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 05477547 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 05477547 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 05477547 d:OtherDeferredTax 2023-07-31 05477547 d:OtherDeferredTax 2022-07-31 05477547 6 2022-08-01 2023-07-31 05477547 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-07-31 05477547 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-07-31 05477547 d:LeasedAssetsHeldAsLessee 2023-07-31 05477547 d:LeasedAssetsHeldAsLessee 2022-07-31 05477547 e:PoundSterling 2022-08-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05477547









CANTABILE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
CANTABILE LIMITED
REGISTERED NUMBER: 05477547

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,864,955
1,896,317

Investments
 5 
43,455
46,663

  
1,908,410
1,942,980

Current assets
  

Stocks
  
2,110
2,110

Debtors: amounts falling due within one year
 6 
61,518
97,910

Cash at bank and in hand
  
97,834
65,220

  
161,462
165,240

Creditors: amounts falling due within one year
 7 
(351,868)
(425,774)

Net current liabilities
  
 
 
(190,406)
 
 
(260,534)

Total assets less current liabilities
  
1,718,004
1,682,446

Creditors: amounts falling due after more than one year
 8 
(887,351)
(903,994)

Provisions for liabilities
  

Deferred tax
 9 
(55,860)
(53,900)

  
 
 
(55,860)
 
 
(53,900)

Net assets
  
774,793
724,552


Capital and reserves
  

Called up share capital 
 10 
370,100
370,100

Share premium account
  
26,927
26,927

Profit and loss account
  
377,766
327,525

  
774,793
724,552


Page 1

 
CANTABILE LIMITED
REGISTERED NUMBER: 05477547
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

The directors consider 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 directors acknowledge their 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: 




G R L Fysh
Director

Date: 17 October 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The principal activity of the company is the provision of  primary education.
The company is a private company limited by shares and is incorporated in England and Wales under company number 05477547.
The address of its registered office is Avenue Nursery and Pre Prep, 2 Highgate Avenue, London, England N6 5RX.

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

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.

Turnover comprises school fee and rental income and is recognised on an accruals  basis.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

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, using the straight-line  and reducing balance methods.

Depreciation is provided on the following basis:

Property improvements
-
2% per annum on cost
Long-term leasehold property
-
2% per annum on cost
Computer equipment
-
33.3% per annum on cost
Motor vehicles
-
Equipment
-
15% per annum on net book value

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.

 
2.6

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

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.

Page 4

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the statement of income or the statement of comprehensive income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting
Financial assets and liabilities are offset and 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. 

Page 5

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 24).

Page 6

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

4.


Tangible fixed assets





Freehold & property improve-ments
Long-term leasehold property
Computer equipment
Motor vehicles
Fixtures & Equipment

£
£
£
£
£



Cost or valuation


At 1 August 2022
377,782
1,478,174
32,549
-
433,722


Additions
-
-
2,308
29,349
18,749



At 31 July 2023

377,782
1,478,174
34,857
29,349
452,471



Depreciation


At 1 August 2022
58,217
127,911
30,150
-
209,632


Charge for the year
6,737
29,562
1,967
7,337
36,165



At 31 July 2023

64,954
157,473
32,117
7,337
245,797



Net book value



At 31 July 2023
312,828
1,320,701
2,740
22,012
206,674



At 31 July 2022
319,565
1,350,263
2,399
-
224,090
Page 7

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

           4.Tangible fixed assets (continued)


Total

£



Cost or valuation


At 1 August 2022
2,322,227


Additions
50,406



At 31 July 2023

2,372,633



Depreciation


At 1 August 2022
425,910


Charge for the year
81,768



At 31 July 2023

507,678



Net book value



At 31 July 2023
1,864,955



At 31 July 2022
1,896,317

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Motor vehicles
22,012
-

22,012
-

Page 8

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Fixed asset investments





Listed investments
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 August 2022
21,163
25,500
46,663


Revaluations
(3,208)
-
(3,208)



At 31 July 2023
17,955
25,500
43,455




The directors consider the unlisted investments to be valued at equal to the cost.


6.


Debtors

2023
2022
£
£


Other debtors
61,518
97,910

61,518
97,910



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
428
-

Bank loans
46,150
46,150

Trade creditors
181,600
251,428

Corporation tax
49,781
20,134

Other taxation and social security
14,140
13,797

Obligations under finance lease and hire purchase contracts
1,515
-

Other creditors
44,254
86,265

Accruals and deferred income
14,000
8,000

351,868
425,774


Page 9

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
864,769
903,994

Net obligations under finance leases and hire purchase contracts
22,582
-

887,351
903,994


The loans from Barclays Bank Plc, amounting to £883,419 (2022 - £911,811), shown under creditors falling due within one year and creditors falling due after more than one year are secured by a fixed and floating charge over the assets of the company.
Obligations under finance leases and hire purchase contracts  are secured on the related assets.


9.


Deferred taxation




2023


£






At beginning of year
(53,900)


Charged to profit or loss
(1,960)



At end of year
(55,860)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(57,377)
(55,393)

Short term timing differences
1,517
1,493

(55,860)
(53,900)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



370,100 (2022 - 370,100) Ordinary shares of £1.00 each
370,100
370,100


Page 10

 
CANTABILE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

11.


Pension commitments

The company operates a defined contribution scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Employers' portion of contributions totalling £6,069 (2022: £5,972) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

Certain directors received rent of £37,500 from the the company during the year (2022: £37,500).
Included in other creditors is a balance of £34,607 (2022: £76,731) due to M & R Fysh, the directors of the company. The amount is unsecured and interest-free, with no fixed repayment date. 

 
Page 11