Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29trueNo description of principal activity2023-03-01false132trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13687170 2023-03-01 2024-02-29 13687170 2021-10-19 2023-02-28 13687170 2024-02-29 13687170 2023-02-28 13687170 c:Director1 2023-03-01 2024-02-29 13687170 c:Director2 2023-03-01 2024-02-29 13687170 d:OfficeEquipment 2023-03-01 2024-02-29 13687170 d:OfficeEquipment 2024-02-29 13687170 d:OfficeEquipment 2023-02-28 13687170 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 13687170 d:Goodwill 2023-03-01 2024-02-29 13687170 d:Goodwill 2024-02-29 13687170 d:Goodwill 2023-02-28 13687170 d:CurrentFinancialInstruments 2024-02-29 13687170 d:CurrentFinancialInstruments 2023-02-28 13687170 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 13687170 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 13687170 d:ShareCapital 2024-02-29 13687170 d:ShareCapital 2023-02-28 13687170 d:RetainedEarningsAccumulatedLosses 2024-02-29 13687170 d:RetainedEarningsAccumulatedLosses 2023-02-28 13687170 c:FRS102 2023-03-01 2024-02-29 13687170 c:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 13687170 c:FullAccounts 2023-03-01 2024-02-29 13687170 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 13687170 d:Subsidiary1 2023-03-01 2024-02-29 13687170 d:Subsidiary1 1 2023-03-01 2024-02-29 13687170 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-03-01 2024-02-29 13687170 6 2023-03-01 2024-02-29 13687170 d:Goodwill d:OwnedIntangibleAssets 2023-03-01 2024-02-29 13687170 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Registered number: 13687170









CAVENDISH HEALTH WELLBEING LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
CAVENDISH HEALTH WELLBEING LTD
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CAVENDISH HEALTH WELLBEING LTD
FOR THE YEAR ENDED 29 FEBRUARY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cavendish Health Wellbeing Ltd for the year ended 29 February 2024 which comprise  the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotlandwe are subject to its ethical and other professional requirements which are detailed at https://icas.com/icas -framework-preparation -of-accounts.

This report is made solely to the Board of Directors of Cavendish Health Wellbeing Ltd, as a body, in accordance with the terms of our engagement letter dated 1 October 2021Our work has been undertaken solely to prepare for your approval the financial statements of Cavendish Health Wellbeing Ltd and state those matters that we have agreed to state to the Board of Directors of Cavendish Health Wellbeing Ltd, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at https://icas.com/icas -framework-preparation -of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cavendish Health Wellbeing Ltd and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Cavendish Health Wellbeing Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cavendish Health Wellbeing Ltd. You consider that Cavendish Health Wellbeing Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Cavendish Health Wellbeing Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Milton Avis LLP
 
Chartered Accountants
  
120 Baker Street
London
W1U 6TU
23 January 2025
Page 1

 
CAVENDISH HEALTH WELLBEING LTD
REGISTERED NUMBER: 13687170

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
54,000
-

Tangible assets
  
43,200
-

Investments
 6 
50
-

  
97,250
-

Current assets
  

Debtors: amounts falling due within one year
 7 
179,640
53,619

Cash at bank and in hand
 8 
213,716
1,475

  
393,356
55,094

Creditors: amounts falling due within one year
 9 
(408,410)
(64,505)

Net current liabilities
  
 
 
(15,054)
 
 
(9,411)

Total assets less current liabilities
  
82,196
(9,411)

  

Net assets/(liabilities)
  
82,196
(9,411)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
82,096
(9,511)

  
82,196
(9,411)


Page 2

 
CAVENDISH HEALTH WELLBEING LTD
REGISTERED NUMBER: 13687170
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 income and retained earnings 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 23 January 2025.




................................................
Colin Gerstein
................................................
Akbar De Medici
Director
Director

The notes on pages 4 to 11 form part of these financial statements.

Page 3

 
CAVENDISH HEALTH WELLBEING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

The company is a private company limited by shares and was incorporated on 19 October 2021 and is registered in England and Wales. Its registered office is 10 The Stables, Aldenham, United Kingdom, WD25 8DG.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

Page 4

 
CAVENDISH HEALTH WELLBEING 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:

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

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.

 
2.6

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.


Page 5

 
CAVENDISH HEALTH WELLBEING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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 Income and Retained Earnings 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.

 
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:

Office equipment
-
10 years useful life

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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Income and Retained Earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 6

 
CAVENDISH HEALTH WELLBEING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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

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.

 
2.12

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.

 
2.13

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

2024
£

Wages and salaries
200,811

Social security costs
14,439

Cost of defined contribution scheme
3,788

219,038


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
13
2

Page 7

 
CAVENDISH HEALTH WELLBEING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Intangible assets






Goodwill

£



Cost


Additions
60,000



At 29 February 2024

60,000



Amortisation


Charge for the year on owned assets
6,000



At 29 February 2024

6,000



Net book value



At 29 February 2024
54,000



At 28 February 2023
-



Page 8

 
CAVENDISH HEALTH WELLBEING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Tangible fixed assets







Office equipment

£



Cost or valuation


Additions
48,000



At 29 February 2024

48,000



Depreciation


Charge for the year on owned assets
4,800



At 29 February 2024

4,800



Net book value



At 29 February 2024
43,200



At 28 February 2023
-


6.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


Additions
50



At 29 February 2024
50





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

Paragon Health Limited
Ordinary
50%

Page 9

 
CAVENDISH HEALTH WELLBEING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024
Subsidiary undertaking (continued)

The aggregate of the share capital and reserves as at 29 February 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking was as follows:

Name
Aggregate of share capital and reserves

Paragon Health Limited
50


7.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
46,714
33,746

Amounts owed by group undertakings
132,926
-

Other debtors
-
100

Prepayments and accrued income
-
19,773

179,640
53,619



8.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
213,716
1,475

213,716
1,475


Page 10

 
CAVENDISH HEALTH WELLBEING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due within one year

29 February
2024
£

Trade creditors
171,731

Corporation tax
111,112

Other taxation and social security
14,643

Other creditors
106,364

Accruals and deferred income
4,560

408,410



10.


Related party transactions

The company is part of a group wholly owned and controlled by Colin Gerstein and Akbar De Medici, whose registered office is 10 The Stables, Aldenham, WD25 8DG after 31 March 2023. 
During the year the company was owed £26,068 (2023: £11,696) by Cavendish Health Concierge, a connected company owned by the directors. 
During the year the company owed £98,465 (2023: £34,392) to Cavendish Health Group, a connected company owned by the directors. 
During the year the company was owed £500 (2023: £420) from Pierian Spring Data Services, a connected company previously owned by the directors.
During the year the company was owed £106,358 (2023: £nil) by ABRG Properties Limited, a connected company owned by the directors.
During the year the company owed £5,663 (2023: £nil) to a group company Paragon Health Limited.


11.


Controlling party

The company was 100% controlled by Cavendish Health Concierge up until 31 March 2023.

 
Page 11