Cavius Ltd. SC675873 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is the sale of fire and smoke detectors. Digita Accounts Production Advanced 6.30.9574.0 true false true SC675873 2023-05-01 2024-04-30 SC675873 2024-04-30 SC675873 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-04-30 SC675873 core:CurrentFinancialInstruments 2024-04-30 SC675873 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 SC675873 bus:SmallEntities 2023-05-01 2024-04-30 SC675873 bus:Audited 2023-05-01 2024-04-30 SC675873 bus:FilletedAccounts 2023-05-01 2024-04-30 SC675873 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 SC675873 bus:RegisteredOffice 2023-05-01 2024-04-30 SC675873 bus:Director5 2023-05-01 2024-04-30 SC675873 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-05-01 2024-04-30 SC675873 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC675873 1 2023-05-01 2024-04-30 SC675873 countries:AllCountries 2023-05-01 2024-04-30 SC675873 countries:Scotland 2023-05-01 2024-04-30 SC675873 2022-05-01 2023-04-30 SC675873 2023-04-30 SC675873 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-04-30 SC675873 core:CurrentFinancialInstruments 2023-04-30 SC675873 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC675873

Cavius Ltd.

Filleted Financial Statements

for the Year Ended 30 April 2024

 

Cavius Ltd.

(Registration number: SC675873)
Balance Sheet as at 30 April 2024

Note

2024
£

(As restated)

2023
£

Current assets

 

Debtors

6

400,028

3,468,447

Cash at bank and in hand

 

341,006

23,616

 

741,034

3,492,063

Creditors: Amounts falling due within one year

7

(16,208)

(2,716,716)

Net assets

 

724,826

775,347

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

724,726

775,247

Shareholders' funds

 

724,826

775,347

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 October 2024 and signed on its behalf by:
 

.........................................
N Gregor Macgregor
Director

   
     
 

Cavius Ltd.

Notes to the Financial Statements for the Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

These financial statements were authorised for issue by the Board on 17 October 2024.

The address of its registered office is:
27 Lauriston Street
Edinburgh
EH3 9DQ
Scotland

Principal activity

The principal activity of the Company was the sale of fire and smoke detectors.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The company has sufficient capital and parent company support such that it is able to settle all liabilities. However, during the prior year, Kidde Safety Europe Limited purchased the business assets of Cavius Ltd and it is the directors’ intention to liquidate the company once all the liabilities have been settled. Therefore, the financial statements have not been prepared on a going concern basis.

 

Cavius Ltd.

Notes to the Financial Statements for the Year Ended 30 April 2024

Prior period errors

During the year it was identified that intercompany debtors and creditors were offset in the company's prior year financial statements. A prior year reclassification adjustment was made to correct the comparatives in the current year financial statements.

The impact of this error results in an understatement of current assets and understatement of current liabilities. There is no impact on net assets, shareholder funds or comprehensive income.

Amounts owed to group undertakings and undertakings in which the company has a participating interest as at 30 April 2023 of £1,503,150 have been restated as £3,457,708.

Amounts due from group undertakings and undertakings in which the company has a participating interest as at 30 April 2023 of £420,284 have been restated as £2,374,842.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Financial instruments

Classification
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 to/from related parties and investments in non-puttable ordinary shares.

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 profit or loss.

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.

 

 

Cavius Ltd.

Notes to the Financial Statements for the Year Ended 30 April 2024

Debtors

Trade debtors are amounts due from customers for merchandise sold in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Creditors

Trade creditors are obligations to pay for goods that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Cavius Ltd.

Notes to the Financial Statements for the Year Ended 30 April 2024

3

Significant judgements and key sources of estimation uncertainty

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Summary audit opinion

Audit report

The Independent Auditor's Report was unqualified. We would like to draw your attention to the fact that the accounts have not been prepared on a going concern basis.. The name of the Senior Statutory Auditor who signed the audit report on 17 October 2024 was David Wheeler, who signed for and on behalf of Bourner Bullock.

.........................................

5

Staff numbers

The average number of persons employed by the Company (including directors) during the year, was 0 (2023 - 0).

6

Debtors

Current

Note

2024
£

(As restated)

2023
£

Trade debtors

 

-

6,507

Amounts owed by related parties

381,100

3,457,708

Prepayments

 

-

733

Other debtors

 

18,928

3,499

   

400,028

3,468,447

 

Cavius Ltd.

Notes to the Financial Statements for the Year Ended 30 April 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

(As restated)

2023
£

Due within one year

 

Trade creditors

 

5,727

88,038

Amounts owed to Group undertakings and undertakings in which the Company has a participating interest

-

2,374,842

Taxation and social security

 

-

245,511

Accruals and deferred income

 

10,481

8,325

 

16,208

2,716,716

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

9

Dividends

There were no dividends paid or proposed in either the current or the previous year.

10

Relationship between entity and parents

The parent of the smallest group in which these financial statements are consolidated is Carrier Global Corporation, incorporated in United States of America.

The address of Carrier Global Corporation is:
13995 Pasteur Boulevard, Palm Beach Gardens, Florida 33418, United States of America