Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-282023-03-01falseNo description of principal activity77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13220606 2023-03-01 2024-02-28 13220606 2022-03-01 2023-02-28 13220606 2024-02-28 13220606 2023-02-28 13220606 c:Director2 2023-03-01 2024-02-28 13220606 d:FurnitureFittings 2023-03-01 2024-02-28 13220606 d:FurnitureFittings 2024-02-28 13220606 d:FurnitureFittings 2023-02-28 13220606 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 13220606 d:ComputerEquipment 2023-03-01 2024-02-28 13220606 d:ComputerEquipment 2024-02-28 13220606 d:ComputerEquipment 2023-02-28 13220606 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 13220606 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 13220606 d:Goodwill 2023-03-01 2024-02-28 13220606 d:Goodwill 2024-02-28 13220606 d:Goodwill 2023-02-28 13220606 d:CurrentFinancialInstruments 2024-02-28 13220606 d:CurrentFinancialInstruments 2023-02-28 13220606 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 13220606 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13220606 d:ShareCapital 2024-02-28 13220606 d:ShareCapital 2023-02-28 13220606 d:RetainedEarningsAccumulatedLosses 2024-02-28 13220606 d:RetainedEarningsAccumulatedLosses 2023-02-28 13220606 d:AcceleratedTaxDepreciationDeferredTax 2024-02-28 13220606 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 13220606 d:RetirementBenefitObligationsDeferredTax 2024-02-28 13220606 d:RetirementBenefitObligationsDeferredTax 2023-02-28 13220606 c:OrdinaryShareClass1 2023-03-01 2024-02-28 13220606 c:OrdinaryShareClass1 2024-02-28 13220606 c:OrdinaryShareClass1 2023-02-28 13220606 c:FRS102 2023-03-01 2024-02-28 13220606 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 13220606 c:FullAccounts 2023-03-01 2024-02-28 13220606 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 13220606 d:Goodwill d:OwnedIntangibleAssets 2023-03-01 2024-02-28 13220606 e:PoundSterling 2023-03-01 2024-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13220606










MAISON WHITE LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2024

 
MAISON WHITE LTD
REGISTERED NUMBER: 13220606

BALANCE SHEET
AS AT 28 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
455,000
520,000

Tangible assets
 5 
6,110
6,092

  
461,110
526,092

Current assets
  

Stocks
 6 
378,345
343,756

Debtors: amounts falling due within one year
 7 
6,386
3,638

Cash at bank and in hand
  
61,408
86,913

Current liabilities
  
446,139
434,307

Creditors: amounts falling due within one year
 8 
(875,671)
(926,374)

Net current liabilities
  
 
 
(429,532)
 
 
(492,067)

Total assets less current liabilities
  
31,578
34,025

Provisions for liabilities
  

Deferred tax
 9 
(1,574)
(1,444)

  
 
 
(1,574)
 
 
(1,444)

Net assets
  
30,004
32,581


Capital and reserves
  

Called up share capital 
 10 
25
25

Profit and loss account
  
29,979
32,556

  
30,004
32,581


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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
MAISON WHITE LTD
REGISTERED NUMBER: 13220606

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




R McConnachie
Director

Date: 19 November 2024

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

Page 2

 
MAISON WHITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

Maison White Ltd is a private company, limited by share capital and incorporated in England and Wales. 
The address of its registered office and principal place of business is 27 High Street, Benson, Wallingford, OX10 6RP.

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 for the sale of goods during the year excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

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.

 
2.4

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.

Page 3

 
MAISON WHITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
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

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
2.7

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.

Page 4

 
MAISON WHITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20%
Computer equipment
-
20%

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
MAISON WHITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.13

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 7 (2023 - 7).


4.


Intangible assets




Goodwill

£



Cost


At 1 March 2023
650,000



At 28 February 2024

650,000



Amortisation


At 1 March 2023
130,000


Charge for the year on owned assets
65,000



At 28 February 2024

195,000



Net book value



At 28 February 2024
455,000



At 28 February 2023
520,000



Page 6

 
MAISON WHITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
6,007
1,139
7,146


Additions
-
1,540
1,540



At 28 February 2024

6,007
2,679
8,686



Depreciation


At 1 March 2023
914
140
1,054


Charge for the year on owned assets
1,201
321
1,522



At 28 February 2024

2,115
461
2,576



Net book value



At 28 February 2024
3,892
2,218
6,110



At 28 February 2023
5,093
999
6,092


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
378,345
343,756

378,345
343,756



7.


Debtors

2024
2023
£
£

Trade debtors
-
277

Other debtors
6,386
3,361

6,386
3,638


Page 7

 
MAISON WHITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

8.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
167,138
177,959

Corporation tax
34,928
29,583

Other taxation and social security
2,754
1,617

Other creditors
666,591
713,215

Accruals and deferred income
4,260
4,000

875,671
926,374



9.


Deferred taxation




2024


£






At beginning of year
(1,444)


Charged to profit or loss
(130)



At end of year
(1,574)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(1,528)
(1,524)

Short term timing differences
(46)
80

(1,574)
(1,444)


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



25 (2023 - 25) Ordinary Share shares of £1 each
25
25


Page 8

 
MAISON WHITE LTD
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

11.


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 and amounted to £13,621 (2023: £7,277). 
Contributions totalling £1,440 (2023: £806) were payable to the fund at the balance sheet date and are included in creditors.


12.


Related party transactions

At the year end the company owed £665,151 (2023: £712,409) to its directors. This amount is interest free and repayable upon demand.
During the year the company was charged £119,221 (2023: £84,182) by a director for fulfilment services, the balance outstanding at the year end was £31,898 (2023: £11,570).


Page 9