Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-2939false2023-03-01Manufacture of wooden containers37truetruefalse 00932927 2023-03-01 2024-02-29 00932927 2022-03-01 2023-02-28 00932927 2024-02-29 00932927 2023-02-28 00932927 2022-03-01 00932927 c:Director1 2023-03-01 2024-02-29 00932927 d:PlantMachinery 2023-03-01 2024-02-29 00932927 d:PlantMachinery 2024-02-29 00932927 d:PlantMachinery 2023-02-28 00932927 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00932927 d:OfficeEquipment 2023-03-01 2024-02-29 00932927 d:OfficeEquipment 2024-02-29 00932927 d:OfficeEquipment 2023-02-28 00932927 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00932927 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 00932927 d:Goodwill 2023-03-01 2024-02-29 00932927 d:Goodwill 2024-02-29 00932927 d:Goodwill 2023-02-28 00932927 d:CurrentFinancialInstruments 2024-02-29 00932927 d:CurrentFinancialInstruments 2023-02-28 00932927 d:Non-currentFinancialInstruments 2024-02-29 00932927 d:Non-currentFinancialInstruments 2023-02-28 00932927 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 00932927 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00932927 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 00932927 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 00932927 d:UKTax 2023-03-01 2024-02-29 00932927 d:UKTax 2022-03-01 2023-02-28 00932927 d:ShareCapital 2023-03-01 2024-02-29 00932927 d:ShareCapital 2024-02-29 00932927 d:ShareCapital 2022-03-01 2023-02-28 00932927 d:ShareCapital 2023-02-28 00932927 d:ShareCapital 2022-03-01 00932927 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 00932927 d:RetainedEarningsAccumulatedLosses 2024-02-29 00932927 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 00932927 d:RetainedEarningsAccumulatedLosses 2023-02-28 00932927 d:RetainedEarningsAccumulatedLosses 2022-03-01 00932927 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 00932927 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 00932927 c:OrdinaryShareClass1 2023-03-01 2024-02-29 00932927 c:OrdinaryShareClass1 2024-02-29 00932927 c:OrdinaryShareClass1 2023-02-28 00932927 c:FRS102 2023-03-01 2024-02-29 00932927 c:Audited 2023-03-01 2024-02-29 00932927 c:FullAccounts 2023-03-01 2024-02-29 00932927 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 00932927 d:HirePurchaseContracts d:WithinOneYear 2024-02-29 00932927 d:HirePurchaseContracts d:WithinOneYear 2023-02-28 00932927 c:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 00932927 2 2023-03-01 2024-02-29 00932927 d:Goodwill d:OwnedIntangibleAssets 2023-03-01 2024-02-29 00932927 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 00932927







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
29 FEBRUARY 2024


TRAFALGAR CASES LIMITED






































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TRAFALGAR CASES LIMITED
REGISTERED NUMBER:00932927



STATEMENT OF FINANCIAL POSITION
AS AT 29 FEBRUARY 2024

29 February
28 February As restated
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
1,981
9,985

Tangible assets
 6 
206,662
220,857

  
208,643
230,842

Current assets
  

Stocks
 7 
290,305
290,782

Debtors: amounts falling due within one year
 8 
828,875
938,194

Cash at bank and in hand
  
975,149
699,412

  
2,094,329
1,928,388

Creditors: amounts falling due within one year
 9 
(1,003,485)
(1,406,843)

Net current assets
  
 
 
1,090,844
 
 
521,545

Total assets less current liabilities
  
1,299,487
752,387

Creditors: amounts falling due after more than one year
 10 
-
(901)

Provisions for liabilities
  

Deferred tax
  
(36,988)
(37,240)

  
 
 
(36,988)
 
 
(37,240)

Net assets
  
1,262,499
714,246


Capital and reserves
  

Called up share capital 
  
10,000
10,000

Profit and loss account
  
1,252,499
704,246

  
1,262,499
714,246


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.

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




Page 1

 


TRAFALGAR CASES LIMITED
REGISTERED NUMBER:00932927


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 29 FEBRUARY 2024

................................................
R B A Childs
Director

Date: 20 November 2024

The notes on pages 4 to 13 form part of these financial statements.

Page 2

 


TRAFALGAR CASES LIMITED
 



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 March 2022
10,000
703,999
713,999


Comprehensive income for the year

Profit for the year
-
600,247
600,247
Total comprehensive income for the year
-
600,247
600,247


Contributions by and distributions to owners

Dividends: Equity capital
-
(600,000)
(600,000)


Total transactions with owners
-
(600,000)
(600,000)



At 1 March 2023
10,000
704,246
714,246


Comprehensive income for the year

Profit for the year
-
848,253
848,253
Total comprehensive income for the year
-
848,253
848,253


Contributions by and distributions to owners

Dividends: Equity capital
-
(300,000)
(300,000)


Total transactions with owners
-
(300,000)
(300,000)


At 29 February 2024
10,000
1,252,499
1,262,499


The notes on pages 4 to 13 form part of these financial statements.

Page 3

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Trafalgar Cases Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).

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, 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.

 
2.3

Interest income

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

 
2.4

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 4

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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 reporting 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 reporting 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 reporting date.

 
2.7

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.

Page 5

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.8

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
on cost
Office equipment
-
20%
on cost

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.

 
2.9

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 reporting 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.

 
2.10

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.

 
2.11

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 6

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

 
2.14

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 39 (2023 - 37).


4.


Taxation

29 February
28 February
2024
2023
£
£

Corporation tax

Current tax on profits for the year
114,882
102,076

Adjustments in respect of previous periods
(140,095)
-


(25,213)
102,076

Deferred tax

Deferred tax
(252)
36,253

(252)
36,253

Total tax charge
(25,465)
138,329


Page 7

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Intangible assets






Goodwill

£



Cost


At 1 March 2023
40,000



At 29 February 2024

40,000



Amortisation


At 1 March 2023
30,015


Charge for the year on owned assets
8,004



At 29 February 2024

38,019



Net book value



At 29 February 2024
1,981



At 28 February 2023
9,985



Page 8

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.


Tangible fixed assets







Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
1,226,008
177,387
1,403,395


Additions
19,807
-
19,807



At 29 February 2024

1,245,815
177,387
1,423,202



Depreciation


At 1 March 2023
1,019,664
162,874
1,182,538


Charge for the year on owned assets
27,275
6,727
34,002



At 29 February 2024

1,046,939
169,601
1,216,540



Net book value



At 29 February 2024
198,876
7,786
206,662



At 28 February 2023
206,344
14,513
220,857


7.


Stocks

29 February
28 February As restated
2024
2023
£
£

Raw materials and consumables
150,545
161,885

Work in progress (goods to be sold)
139,760
128,897

290,305
290,782


Page 9

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Debtors

29 February
28 February As restated
2024
2023
£
£


Trade debtors
720,995
900,722

Other debtors
71,713
-

Prepayments and accrued income
36,167
37,472

828,875
938,194



9.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
362,681
661,420

Amounts owed to group undertakings
506,527
490,582

Corporation tax
-
102,076

Other taxation and social security
98,880
103,433

Obligations under finance lease and hire purchase contracts
785
7,107

Accruals and deferred income
34,612
42,225

1,003,485
1,406,843


Page 10

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
901

-
901


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Hire purchase contracts
901
8,008

901
8,008

Details of security provided:

The ultimate holding company, Wiltonsign Properties Limited, has provided cross guarantees in respect of
the company's banking facilities.
Invoice discounting facilities are secured by a fixed and floating charge over the assets of the company.
Amounts due under hire purchase contracts are secured against the assets concerned.


11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

29 February
28 February
2024
2023
£
£


Within one year
901
8,008

901
8,008

Page 11

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

12.


Deferred taxation






2024


£






At beginning of year
(37,240)


Charged to profit or loss
252



At end of year
(36,988)

The provision for deferred taxation is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(36,988)
(37,240)

(36,988)
(37,240)


13.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares shares of £1.00 each
10,000
10,000



14.


Prior year reclassification

Amounts recoverable under contract have been reclassified to work in progress in the current year and prior year. This reclassification was made to better reflect the nature of these amounts in accordance with FRS 102 Section 1A. The comparative figures for the prior year have been restated to conform with the current year’s presentation. This reclassification has no impact on the net assets or the results of the company for the prior year.


15.


Capital commitments


At 29 February 2024 the Company had capital commitments as follows:

29 February
28 February
2024
2023
£
£


Contracted for but not provided in these financial statements
-
75,510

-
75,510

Page 12

 


TRAFALGAR CASES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

16.


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 £57,898 (2023 - £56,261). There were no contributions (2023 - £nil) payable to the fund at the reporting date.


17.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. 


18.


Controlling party

The parent undertaking is Chilfen Export Packaging Limited, a company incorporated in England and Wales at Unit 1 Flint Road, Letchworth Garden City, Hertfordshire, SG6 1HJ. The ultimate holding company is Wiltonsign Properties Limited, a company incorporated in England and Wales at 5 Yeomans Court, Ware Road, Hertford, Hertfordshire, SG13 7HJ.
The smallest and largest group financial statements in which the results of the company are included are available from 5 Yeomans Court, Ware Road, Hertford, Hertfordshire, SG13 7HJ.


19.


Auditors' information

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

The audit report was signed on 27 November 2024 by James Fox FCCA ACA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 13