Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-301No description of principal activity1falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-05-01true 03000654 2023-05-01 2024-04-30 03000654 2022-05-01 2023-04-30 03000654 2024-04-30 03000654 2023-04-30 03000654 c:Director1 2023-05-01 2024-04-30 03000654 d:CurrentFinancialInstruments 2024-04-30 03000654 d:CurrentFinancialInstruments 2023-04-30 03000654 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 03000654 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 03000654 d:ShareCapital 2024-04-30 03000654 d:ShareCapital 2023-04-30 03000654 d:RetainedEarningsAccumulatedLosses 2024-04-30 03000654 d:RetainedEarningsAccumulatedLosses 2023-04-30 03000654 c:OrdinaryShareClass1 2023-05-01 2024-04-30 03000654 c:OrdinaryShareClass1 2024-04-30 03000654 c:OrdinaryShareClass1 2023-04-30 03000654 c:PreferenceShareClass1 2023-05-01 2024-04-30 03000654 c:PreferenceShareClass1 2024-04-30 03000654 c:PreferenceShareClass1 2023-04-30 03000654 c:FRS102 2023-05-01 2024-04-30 03000654 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03000654 c:FullAccounts 2023-05-01 2024-04-30 03000654 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03000654 d:Subsidiary1 2023-05-01 2024-04-30 03000654 d:Subsidiary1 1 2023-05-01 2024-04-30 03000654 6 2023-05-01 2024-04-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03000654










CORMEAD LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
CORMEAD LIMITED
REGISTERED NUMBER: 03000654

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
5,600
5,600

Current assets
  

Debtors
 5 
25,000
25,000

Total assets less current liabilities
  
30,600
30,600

Creditors: amounts falling due after more than one year
  
(5,408)
(5,408)

  

Net assets
  
25,192
25,192


Capital and reserves
  

Called up share capital 
  
192
192

Profit and loss account
  
25,000
25,000

  
25,192
25,192


Page 1

 
CORMEAD LIMITED
REGISTERED NUMBER: 03000654
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 comprehensive income 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: 




................................................
S J Andrews
Director

Date: 4 October 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
CORMEAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Cormead Limited is a private company limited by shares incorporated in England and Wales. The registered office is River Meadow, Harlyn Bay, Padstow, Cornwall, PL28 8SB. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Valuation of investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.   
      
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities. 
      
      
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
           
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
      

 
2.4

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 3

 
CORMEAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.

Page 4

 
CORMEAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.6

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.  


3.


Employees

The average monthly number of employees, including the Director, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
1
1


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
5,600



At 30 April 2024
5,600





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Raidean Limited
River Meadow, Harlyn Bay, Padstow, Cornwall, PL28 8SB
Ordinary
100.00%

Page 5

 
CORMEAD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
25,000
25,000



6.


Share capital

2024
2023
£
£
Shares classified as equity

Allotted, called up and fully paid



192 (2023 - 192) Ordinary shares of £1 each
192
192

2024
2023
£
£
Shares classified as debt

Allotted, called up and fully paid



8 (2023 - 8) Redeemable shares of £1 each
8
8


Page 6