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Registered number: 11780276
Casalee Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2024
Poolemead Accountants (Winchester) Ltd
Chartered Accountants & Business Advisors
Tremain House 8 Maple Drive
Kings Worthy
Winchester
Hampshire
SO23 7NG
Balance Sheet
Registered number: 11780276
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 167 1,167
Tangible Assets 5 135,689 93,074
135,856 94,241
CURRENT ASSETS
Stocks 6 12,651 13,853
Debtors 7 121,913 113,172
Cash at bank and in hand 111,218 31,531
245,782 158,556
Creditors: Amounts Falling Due Within One Year 8 (155,498 ) (148,644 )
NET CURRENT ASSETS (LIABILITIES) 90,284 9,912
TOTAL ASSETS LESS CURRENT LIABILITIES 226,140 104,153
Creditors: Amounts Falling Due After More Than One Year 9 (140,584 ) (92,202 )
NET ASSETS 85,556 11,951
CAPITAL AND RESERVES
Called up share capital 11 53,246 53,246
Share premium account 23,959 23,959
Revaluation reserve 13 17,318 25,978
Profit and Loss Account (8,967 ) (91,232 )
SHAREHOLDERS' FUNDS 85,556 11,951
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Tyrone Gericke
Director
29/01/2025
The notes on pages 2 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Casalee Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11780276 . The registered office is Rowan Industrial Estate Unit 4, Mill Lane, Alton, Hampshire, GU34 2NQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of five years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost or revalued amount less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 0% on cost
Plant & Machinery 25% on cost or revalued amount
Motor Vehicles 25% on cost
Computer Equipment 25% on cost
Plant and machinery assets have been revalued in the course of the year. Plant and machinery have been included in the accounts at the revalued amount and the revaluation surplus taken to the revaluation reserve.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was as follows:
2024 2023
Office and administration 1 1
Sales, marketing and distribution 6 6
7 7
4. Intangible Assets
Goodwill
£
Cost
As at 1 December 2023 5,000
As at 30 November 2024 5,000
Amortisation
As at 1 December 2023 3,833
Provided during the period 1,000
As at 30 November 2024 4,833
Net Book Value
As at 30 November 2024 167
As at 1 December 2023 1,167
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5. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £ £
Cost or Valuation
As at 1 December 2023 1 114,180 63,687 340 178,208
Additions - - 105,070 - 105,070
Disposals - - (26,250 ) - (26,250 )
As at 30 November 2024 1 114,180 142,507 340 257,028
Depreciation
As at 1 December 2023 - 50,272 34,579 283 85,134
Provided during the period - 28,545 27,837 57 56,439
Disposals - - (20,234 ) - (20,234 )
As at 30 November 2024 - 78,817 42,182 340 121,339
Net Book Value
As at 30 November 2024 1 35,363 100,325 - 135,689
As at 1 December 2023 1 63,908 29,108 57 93,074
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
2024 2023
£ £
Plant & Machinery 35,363 63,908
Motor Vehicles 97,750 29,108
133,113 93,016
6. Stocks
2024 2023
£ £
Finished goods 12,651 8,078
Work in progress - 5,775
12,651 13,853
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 32,387 32,459
Prepayments and accrued income 32,484 26,715
Other debtors 40,261 51,324
Director's loan account 16,781 2,674
121,913 113,172
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8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 14,393 11,858
Trade creditors 93,968 78,217
Bank loans and overdrafts 12,499 17,065
Other taxes and social security 7,438 7,642
VAT 12,704 11,745
Other creditors Pensions payable 11,496 14,731
Accruals and deferred income 3,000 7,386
155,498 148,644
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 114,741 56,275
Bank loans 25,843 35,927
140,584 92,202
The company received a Governement Bounce Back Loan of £50,000. The loan was interest free for the first 12 months, interest being charged at 2.5% for the remainder of the loan. The loan is repayable over 10 years and is secured by the government loan guarantee under the terms of the BBL scheme.
10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,393 11,858
Later than one year and not later than five years 114,741 56,275
129,134 68,133
129,134 68,133
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 53,246 53,246
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 71,000 71,000
Later than one year and not later than five years 284,000 284,000
Later than five years 213,000 284,000
568,000 639,000
The financial obligations arise from the occupation of their leasehold premises at Rowan park Industrial Estate, Alton.
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13. Reserves
Revaluation Reserve
£
As at 1 December 2023 25,978
Transfer to profit and loss (8,660 )
As at 30 November 2024 17,318
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