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Registered number: 08739422









CECILIA BRUNSON PROJECTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
COMPANY INFORMATION


Directors
M C Brunson Miquel 
M D Jameson Evans (appointed 9 March 2023)
F W Henderson (resigned 9 March 2023)




Registered number
08739422



Registered office
Eighth Floor
6 New Street Square

New Fetter Lane

London

EC4A3AQ




Accountants
Rawlinson & Hunter LLP
Chartered Accountants

Eighth Floor

6 New Street Square

New Fetter Lane

London

EC4A 3AQ





 
CECILIA BRUNSON PROJECTS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 10


 
CECILIA BRUNSON PROJECTS LIMITED
REGISTERED NUMBER: 08739422

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
Restated 2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
42,943
27,954

  
42,943
27,954

Current assets
  

Stocks
 5 
34,801
-

Debtors: amounts falling due within one year
 6 
309,238
287,159

Cash at bank and in hand
 7 
57,885
292,884

  
401,924
580,043

Creditors: amounts falling due within one year
 8 
(331,471)
(337,779)

Net current assets
  
 
 
70,453
 
 
242,264

Total assets less current liabilities
  
113,396
270,218

  

Net assets
  
113,396
270,218


Capital and reserves
  

Called up share capital 
 10 
1
1

Profit and loss account
  
113,395
270,217

  
113,396
270,218


Page 1

 
CECILIA BRUNSON PROJECTS LIMITED
REGISTERED NUMBER: 08739422
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 profit and loss account 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: 




M C Brunson Miquel
Director

Date: 30 October 2024

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 

 
CECILIA BRUNSON PROJECTS LIMITED


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023



Called up share capital
Profit and loss account
Total equity


£
£
£



At 1 November 2021
1
152,730
152,731





Restated Profit for the year
-
186,787
186,787


Dividends: Equity capital
-
(69,300)
(69,300)





At 1 November 2022
1
270,217
270,218





Profit for the year
-
95,060
95,060


Dividends: Equity capital
-
(251,882)
(251,882)



At 31 October 2023
1
113,395
113,396



The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Cecilia Brunson Projects Limited is a private company, limited by shares, incorporated in England and Wales, with registration number of 08739422. The registered office is Eighth Floor 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 4

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

 
2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

 
2.6

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.

Page 5

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.8

Taxation

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.

 
2.9

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:

Long-term leasehold property
-
20%
Reducing balance
Plant and machinery
-
25%
Reducing balance
Computer equipment
-
25%
Reducing balance

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 6

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. 

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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.

 
2.13

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.

 
2.14

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.

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.

 
2.15

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.

Page 7

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery - Restated
Computer equipment - Restated
Total

£
£
£
£



Cost or valuation


At 1 November 2022
26,300
10,779
23,899
60,978


Additions
23,657
1,119
395
25,171


Disposals
-
-
(2,416)
(2,416)



At 31 October 2023

49,957
11,898
21,878
83,733



Depreciation


At 1 November 2022
10,910
9,931
12,183
33,024


Depreciation charge for the year 
6,114
235
2,638
8,987


Disposals
-
-
(1,221)
(1,221)



At 31 October 2023

17,024
10,166
13,600
40,790



Net book value



At 31 October 2023
32,933
1,732
8,278
42,943



At 31 October 2022
15,390
848
11,716
27,954

Page 8

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
34,801
-

34,801
-



6.


Debtors

2023
2022
£
£


Trade debtors
298,310
199,054

Other debtors
10,928
88,105

309,238
287,159



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
57,885
292,884

57,885
292,884



8.


Creditors: Amounts falling due within one year

2023
Restated 2022
£
£

Trade creditors
121,541
77,968

Corporation tax
63,297
87,765

Other taxation and social security
9,443
6,177

Other creditors
119,121
2,486

Accruals and deferred income
18,069
163,383

331,471
337,779


Page 9

 
CECILIA BRUNSON PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
57,885
292,884




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £0.01 each
1
1



11.


Prior year adjustment

Included in Trade Creditors (Note 8), and Cost of Sales in the Proft and Loss account is an adjustment to remove costs of £129,106 relating to 2023, which had been incorrectly included in 2022. The tax charge has been adjusted accordingly in 2022.


12.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund. Contributions totalling £1,379 (2022 - £1,473) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

Included within other debtors at the financial year end is a balance owed from Mr M Evans amounting to £0 (2022 - £57,267). Interest was charged at 1% on the balance in 2022.

 
Page 10