Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30false2023-05-01No description of principal activity99truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02521547 2023-05-01 2024-04-30 02521547 2022-05-01 2023-04-30 02521547 2024-04-30 02521547 2023-04-30 02521547 c:Director1 2023-05-01 2024-04-30 02521547 d:MotorVehicles 2023-05-01 2024-04-30 02521547 d:MotorVehicles 2024-04-30 02521547 d:MotorVehicles 2023-04-30 02521547 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02521547 d:FurnitureFittings 2023-05-01 2024-04-30 02521547 d:FurnitureFittings 2024-04-30 02521547 d:FurnitureFittings 2023-04-30 02521547 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02521547 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02521547 d:CurrentFinancialInstruments 2024-04-30 02521547 d:CurrentFinancialInstruments 2023-04-30 02521547 d:Non-currentFinancialInstruments 2024-04-30 02521547 d:Non-currentFinancialInstruments 2023-04-30 02521547 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02521547 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02521547 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 02521547 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 02521547 d:ShareCapital 2024-04-30 02521547 d:ShareCapital 2023-04-30 02521547 d:CapitalRedemptionReserve 2024-04-30 02521547 d:CapitalRedemptionReserve 2023-04-30 02521547 d:RetainedEarningsAccumulatedLosses 2024-04-30 02521547 d:RetainedEarningsAccumulatedLosses 2023-04-30 02521547 c:OrdinaryShareClass1 2023-05-01 2024-04-30 02521547 c:OrdinaryShareClass1 2024-04-30 02521547 c:OrdinaryShareClass1 2023-04-30 02521547 c:FRS102 2023-05-01 2024-04-30 02521547 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02521547 c:FullAccounts 2023-05-01 2024-04-30 02521547 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02521547 d:WithinOneYear 2024-04-30 02521547 d:WithinOneYear 2023-04-30 02521547 d:BetweenOneFiveYears 2024-04-30 02521547 d:BetweenOneFiveYears 2023-04-30 02521547 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02521547









CORAFF AT SOUTHWAY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
CORAFF AT SOUTHWAY LIMITED
REGISTERED NUMBER: 02521547

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
3,030
3,807

Current assets
  

Stocks
  
20,000
21,000

Debtors: amounts falling due within one year
 5 
198,455
271,330

Cash at bank and in hand
  
81,510
81,689

  
299,965
374,019

Creditors: amounts falling due within one year
 6 
(249,188)
(327,048)

Net current assets
  
 
 
50,777
 
 
46,971

Creditors: amounts falling due after more than one year
 7 
(11,667)
(21,667)

Net assets
  
42,140
29,111


Capital and reserves
  

Called up share capital 
 8 
37
37

Capital redemption reserve
  
100
100

Profit and loss account
  
42,003
28,974

  
42,140
29,111


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
CORAFF AT SOUTHWAY LIMITED
REGISTERED NUMBER: 02521547
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

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




P A Abbott
Director

Date: 24 January 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CORAFF AT SOUTHWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Coraff at Southway Limited ("the company") is a private company limited by shares, incorporated in England and Wales. Its registration number is 02521547. Its registered office is Leytonstone House, Leytonstone, London, E11 1GA.

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

Going concern

The financial statements have been prepared on a going concern basis.

 
2.3

Revenue recognition

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 the Statement of income and retained earnings  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.

Page 3

 
CORAFF AT SOUTHWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to the Statement of income and retained earnings 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.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.7

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.

 
2.8

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 4

 
CORAFF AT SOUTHWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

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:

Motor vehicles
-
16.67% straight line
Fixtures, fittings and equipment
-
10% 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.

  
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stock.

  
2.11

Debtors

Short term debtors are measured at transaction price, less any impairment.

  
2.12

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

  
2.13

Creditors

Short term creditors are measured at the transaction price.

 
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 9 (2023 - 9).

Page 5

 
CORAFF AT SOUTHWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£



Cost


At 1 May 2023
9,968
64,355
74,323


Additions
-
151
151



At 30 April 2024

9,968
64,506
74,474



Depreciation


At 1 May 2023
9,968
60,548
70,516


Charge for the year on owned assets
-
928
928



At 30 April 2024

9,968
61,476
71,444



Net book value



At 30 April 2024
-
3,030
3,030



At 30 April 2023
-
3,807
3,807

Page 6

 
CORAFF AT SOUTHWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

2024
2023
£
£


Trade debtors
93,530
145,865

Other debtors
93,125
89,551

Prepayments and accrued income
11,800
35,914

198,455
271,330



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Trade creditors
70,921
108,374

Corporation tax
32,335
14,642

Other taxation and social security
15,197
14,612

Other creditors
34,880
10,703

Accruals and deferred income
85,855
168,717

249,188
327,048


Bank loans of £Nil (2023 - £Nil) are secured by personal guarantees.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
11,667
21,667


Bank loans of £Nil (2023 - £Nil) are secured by personal guarantees.

Page 7

 
CORAFF AT SOUTHWAY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



37 (2023 - 37) Ordinary shares of £1 each
37
37



9.


Pension commitments

The company operates a defined contribution 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 during the year and amounted to £5,282 (2023 - £5,288). At the balance sheet date there were outstanding pension contributions of £1,225 (2023 - £1,255).


10.


Commitments under operating leases

At 30 April 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
33,500
4,417

Later than 1 year and not later than 5 years
106,083
-

139,583
4,417

Page 8