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Registration number: 07558494

C Caswell Holdings Ltd
Annual Report and
Unaudited Financial Statements

30 April 2024

 

C Caswell Holdings Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

C Caswell Holdings Ltd

Balance Sheet
30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

579,386

593,730

Investments

5

252,089

252,089

 

831,475

845,819

Current assets

 

Debtors

6

851,748

655,545

Cash at bank and in hand

 

518,414

390,569

 

1,370,162

1,046,114

Creditors: Amounts falling due within one year

7

(248,422)

(29,640)

Net current assets

 

1,121,740

1,016,474

Net assets

 

1,953,215

1,862,293

Capital and reserves

 

Called up share capital

2,004

2,004

Share premium reserve

250,000

250,000

Retained earnings

1,701,211

1,610,289

Shareholders' funds

 

1,953,215

1,862,293

 

C Caswell Holdings Ltd

Balance Sheet
30 April 2024

For the financial year ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 January 2025 and signed on its behalf by:
 

.........................................
Mrs C Branagan
Director

Company Registration Number: 07558494

 

C Caswell Holdings Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Knowsley Road Industrial Estate
Knowsley Road
Haslingden
Rossendale
BB4 4RR

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 financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services 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.

 

C Caswell Holdings Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Government grants

Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets by equal annual instalments. Grants of a revenue nature are credited to income so as to match them with the expenditure to which they relate.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and Buildings

50 years straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the Group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

C Caswell Holdings Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed 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.

Trade creditors

Trade creditors are obligations to pay for goods or services 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.

 

C Caswell Holdings Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2023 - 4).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 May 2023

765,238

765,238

At 30 April 2024

765,238

765,238

Depreciation

At 1 May 2023

171,508

171,508

Charge for the year

14,344

14,344

At 30 April 2024

185,852

185,852

Carrying amount

At 30 April 2024

579,386

579,386

At 30 April 2023

593,730

593,730

Included within the net book value of land and buildings above is £579,386 (2023 - £593,730) in respect of freehold land and buildings.
 

 

C Caswell Holdings Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

5

Investments

2024
£

2023
£

Investments in subsidiaries

252,089

252,089

Subsidiaries

£

Cost or valuation

At 1 May 2023

252,089

Carrying amount

At 30 April 2024

252,089

At 30 April 2023

252,089

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

C Caswell Engineering Services Limited

England

Ordinary

100%

100%

         

Konvekta Limited

England

Ordinary

100%

100%

         

Firesafe Fire Rated Ductwork Limited

England

Ordinary

80%

80%

         
 

C Caswell Holdings Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

Subsidiary undertakings

C Caswell Engineering Services Limited

The principal activity of C Caswell Engineering Services Limited is the fabrication and installation of heating and ventilating equipment.

Konvekta Limited

The principal activity of Konvekta Limited is that of designing and supplying fabricated heating and ventilation equipment.

Firesafe Fire Rated Ductwork Limited

The principal activity of Firesafe Fire Rated Ductwork Limited is the provision of licence agreements and materials attached to technical aspects of engineering.

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

8

851,748

655,545

   

851,748

655,545

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

48,422

29,640

Other creditors

200,000

-

248,422

29,640

 

C Caswell Holdings Ltd

Notes to the Unaudited Financial Statements
Year Ended 30 April 2024

8

Related party transactions

Directors' remuneration

The directors who are also the shareholders receive dividends as part of their remuneration package. The directors consider that their remuneration meets the criteria of being under normal market conditions.

Summary of transactions with subsidiaries

C Caswell Engineering Services Limited, Konvekta Limited and Firesafe Fire Rated Ductwork Limited
 Interest at 7% is applied to outstanding balances.
 

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

655,545

655,545

Advanced

196,203

196,203

At end of period

851,748

851,748

2023

Subsidiary
£

Total
£

At start of period

708,562

708,562

Repaid

(53,017)

(53,017)

At end of period

655,545

655,545