Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseNo description of principal activity1811falsetruefalse 12488998 2023-03-01 2024-02-29 12488998 2022-03-01 2023-02-28 12488998 2024-02-29 12488998 2023-02-28 12488998 c:Director5 2023-03-01 2024-02-29 12488998 d:Buildings 2023-03-01 2024-02-29 12488998 d:Buildings d:LongLeaseholdAssets 2023-03-01 2024-02-29 12488998 d:Buildings d:ShortLeaseholdAssets 2023-03-01 2024-02-29 12488998 d:PlantMachinery 2023-03-01 2024-02-29 12488998 d:PlantMachinery 2024-02-29 12488998 d:PlantMachinery 2023-02-28 12488998 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12488998 d:MotorVehicles 2023-03-01 2024-02-29 12488998 d:MotorVehicles 2024-02-29 12488998 d:MotorVehicles 2023-02-28 12488998 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12488998 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 12488998 d:CurrentFinancialInstruments 2024-02-29 12488998 d:CurrentFinancialInstruments 2023-02-28 12488998 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 12488998 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 12488998 d:ShareCapital 2024-02-29 12488998 d:ShareCapital 2023-02-28 12488998 d:SharePremium 2024-02-29 12488998 d:SharePremium 2023-02-28 12488998 d:RetainedEarningsAccumulatedLosses 2024-02-29 12488998 d:RetainedEarningsAccumulatedLosses 2023-02-28 12488998 c:FRS102 2023-03-01 2024-02-29 12488998 c:Audited 2023-03-01 2024-02-29 12488998 c:FullAccounts 2023-03-01 2024-02-29 12488998 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12488998 d:WithinOneYear 2024-02-29 12488998 d:WithinOneYear 2023-02-28 12488998 d:BetweenOneFiveYears 2024-02-29 12488998 d:BetweenOneFiveYears 2023-02-28 12488998 c:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12488998 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 12488998









CAST FURNITURE LTD









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
CAST FURNITURE LTD
REGISTERED NUMBER: 12488998

BALANCE SHEET
AS AT 29 FEBRUARY 2024

2024
As restated
Unaudited
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,459
21,984

Current assets
  

Stocks
  
404,950
296,375

Debtors: amounts falling due within one year
 5 
1,930,639
2,147,662

Cash at bank and in hand
  
493,411
2,072,661

  
2,829,000
4,516,698

Creditors: amounts falling due within one year
 6 
(1,901,984)
(3,946,824)

Net current assets
  
 
 
927,016
 
 
569,874

  

Net assets
  
977,475
591,858


Capital and reserves
  

Called up share capital 
  
105
100

Share premium account
  
121,260
84,988

Profit and loss account
  
856,110
506,770

  
977,475
591,858


Page 1

 
CAST FURNITURE LTD
REGISTERED NUMBER: 12488998
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 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.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 November 2024.




Z A Moss
Director

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

Page 2

 
CAST FURNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Cast Furniture Ltd ("the Company") is a private company limited by shares incorporated in England and Wales. The registered office is Unit 8 Tallon Road, Hutton, Brentwood, England, CM13 1TF.

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 Companies financial statements are presented in sterling and all values are rounded to the nearest pound (£).

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 Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
CAST FURNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

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.

 
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.

 
2.5

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 4

 
CAST FURNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

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.

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.

Page 5

 
CAST FURNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, provided on the following basis:

Motor Vehicles
-
5 years straight line
Furniture
-
5 years straight line
IT Equipment
-
2 years straight line

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.

 
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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 11).

Page 6

 
CAST FURNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 March 2023
14,383
33,995
48,378


Additions
20,313
-
20,313



At 29 February 2024

34,696
33,995
68,691



Depreciation


At 1 March 2023
6,868
19,526
26,394


Charge for the year on owned assets
39
(8,201)
(8,162)



At 29 February 2024

6,907
11,325
18,232



Net book value



At 29 February 2024
27,789
22,670
50,459



At 28 February 2023
7,515
14,469
21,984

Page 7

 
CAST FURNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

As restated
Unaudited
2024
2023
£
£


Trade debtors
1,626,641
1,109,144

Amounts owed by group undertakings
181,455
626,694

Other debtors
88
266,770

Prepayments and accrued income
122,455
145,054

1,930,639
2,147,662



6.


Creditors: Amounts falling due within one year

As restated
Unaudited
2024
2023
£
£

Trade creditors
740,124
1,740,134

Corporation tax
19,530
183,692

Other taxation and social security
98,923
31,807

Other creditors
1,840
9,069

Accruals and deferred income
1,041,567
1,982,122

1,901,984
3,946,824



7.


Prior year adjustment

During the year, accruals and deferred income, prepayments and accrued income and stock were identified in respect of the period ended 28 February 2023. Long term liabilities were also classified to current liabilities. This had an impact on the following statement lines: 

28 February
2023
£
Stocks

296,375

Amounts owed by group undertakings

(700,866)

Prepayments

(505,842)

Creditors due greater than one year

700,866

Accruals and deferred income

(131,106)

Turnover

(528,858)

Cost of sales

869,431


Page 8

 
CAST FURNITURE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the fund and amounts to £17,594 (2023 - £2,211). Contributions totalling £2,560 (2023 - £4,513) were payable from the fund at the balance sheet date.


9.


Commitments under operating leases

At 29 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

29 February
28 February
2024
2023
£
£


Not later than 1 year
7,256
-

Later than 1 year and not later than 5 years
10,280
-

17,536
-


10.


Related party transactions

The Company has taken the exemption from disclosing related party transactions within wholly owned subsidiaries within the Group under FRS 102 Section 33.1A.
At the year end, the directors of the Company were owed £1,128 
(2023 - £2,802) from the Company. 
During the year, there were purchases of £8,506 
(2023 - £Nil) from a Company within the Group under common control. At the year end there was a balance of £13,463 (2023 - £Nil) owed from this Company. 


11.


Controlling party

The immediate parent Company is Cast Group Services Limited, a Company incorporated in the UK and registered in England and Wales. 
The smallest and largest group to consolidate these financial statements is Cast Group Services Limited. Copies of these consolidated financial statements can be obtained from the Companies registered office being Unit 8 Tallon Road, Hutton, Brentwood, England, CM13 1TF.
The ultimate controlling party of the Company is Mrs Z Moss.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 29 February 2024 was unqualified.

The audit report was signed on 29 November 2024 by Gary Leonard (Senior statutory auditor) on behalf of Barnes Roffe LLP.

 
Page 9