Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3192023-02-01falseNo description of principal activity9truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01639454 2023-02-01 2024-01-31 01639454 2022-02-01 2023-01-31 01639454 2024-01-31 01639454 2023-01-31 01639454 c:Director1 2023-02-01 2024-01-31 01639454 d:Buildings d:ShortLeaseholdAssets 2023-02-01 2024-01-31 01639454 d:Buildings d:ShortLeaseholdAssets 2024-01-31 01639454 d:Buildings d:ShortLeaseholdAssets 2023-01-31 01639454 d:PlantMachinery 2023-02-01 2024-01-31 01639454 d:PlantMachinery 2024-01-31 01639454 d:PlantMachinery 2023-01-31 01639454 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01639454 d:FurnitureFittings 2023-02-01 2024-01-31 01639454 d:FurnitureFittings 2024-01-31 01639454 d:FurnitureFittings 2023-01-31 01639454 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01639454 d:OfficeEquipment 2023-02-01 2024-01-31 01639454 d:OfficeEquipment 2024-01-31 01639454 d:OfficeEquipment 2023-01-31 01639454 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01639454 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 01639454 d:CopyrightsPatentsTrademarksServiceOperatingRights 2024-01-31 01639454 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-31 01639454 d:CurrentFinancialInstruments 2024-01-31 01639454 d:CurrentFinancialInstruments 2023-01-31 01639454 d:Non-currentFinancialInstruments 2024-01-31 01639454 d:Non-currentFinancialInstruments 2023-01-31 01639454 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 01639454 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 01639454 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 01639454 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 01639454 d:ShareCapital 2024-01-31 01639454 d:ShareCapital 2023-01-31 01639454 d:RetainedEarningsAccumulatedLosses 2024-01-31 01639454 d:RetainedEarningsAccumulatedLosses 2023-01-31 01639454 c:FRS102 2023-02-01 2024-01-31 01639454 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 01639454 c:FullAccounts 2023-02-01 2024-01-31 01639454 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 01639454 2 2023-02-01 2024-01-31 01639454 6 2023-02-01 2024-01-31 01639454 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-02-01 2024-01-31 01639454 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 01639454









CAWDOR CORPORATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
CAWDOR CORPORATION LIMITED
REGISTERED NUMBER: 01639454

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
As Restated 2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
32,200
46,000

Tangible assets
 5 
28,357
34,751

  
60,557
80,751

Current assets
  

Stocks
 6 
299,723
265,681

Debtors: amounts falling due within one year
 7 
1,228,519
1,243,917

Cash at bank and in hand
 8 
42,540
68,190

  
1,570,782
1,577,788

Creditors: amounts falling due within one year
 9 
(3,082,948)
(2,984,883)

Net current liabilities
  
 
 
(1,512,166)
 
 
(1,407,095)

Total assets less current liabilities
  
(1,451,609)
(1,326,344)

Creditors: amounts falling due after more than one year
 10 
(233,324)
(233,324)

  

Net liabilities
  
(1,684,933)
(1,559,668)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,685,033)
(1,559,768)

  
(1,684,933)
(1,559,668)


Page 1

 
CAWDOR CORPORATION LIMITED
REGISTERED NUMBER: 01639454
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 2024

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 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 on 29 January 2025.




S E Burstein
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Cawdor Corporation Limited is a private company limited by shares and incorporated in England & Wales (registered number: 01639454). 
The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The principal place of business is The Place London, 27 Connaught Street, London, W2 2AY.
The principal activity of the company continues to be that of the design of menswear and supply of accessories.
The financial statements are presented in Sterling, which is the functional currency of the company.

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

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Given that the company is in a net deficit position the director has obtained assurances from the immediate and ultimate parent company to continue to provide adequate funds to meets its obligations, and not to demand repayment of any funds due to them, until the company is in a financial position to do so. 
As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

Page 3

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 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:

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.

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

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.

Page 4

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Short-term leasehold property
-
Over the life of the lease
Plant and machinery
-
Fixtures and fittings
-
25% reducing balance
Office equipment
-
25% reducing balance

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 5

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.9

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 comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 6

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.13

Interest income

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

 
2.14

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.15

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.

 
2.16

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 reporting date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income 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 reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.


3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).

Page 7

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Website & Trademark

£



Cost


At 1 February 2023
46,000



At 31 January 2024

46,000



Amortisation


Charge for the year on owned assets
13,800



At 31 January 2024

13,800



Net book value



At 31 January 2024
32,200



At 31 January 2023
46,000



Page 8

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
5,055
3,681
199,125
22,785
230,646


Additions
-
-
536
837
1,373



At 31 January 2024

5,055
3,681
199,661
23,622
232,019



Depreciation


At 1 February 2023
-
3,056
173,874
18,966
195,896


Charge for the year on owned assets
-
156
6,447
1,163
7,766



At 31 January 2024

-
3,212
180,321
20,129
203,662



Net book value



At 31 January 2024
5,055
469
19,340
3,493
28,357



At 31 January 2023
5,055
625
25,251
3,820
34,751


6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
299,723
265,681

299,723
265,681


Page 9

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
65,718
79,132

Other debtors
1,159,595
1,159,605

Prepayments and accrued income
3,206
5,180

1,228,519
1,243,917



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
42,540
68,190

42,540
68,190



9.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
59,858
43,647

Other taxation and social security
3,342
2,628

Other creditors
3,018,248
2,936,158

Accruals and deferred income
1,500
2,450

3,082,948
2,984,883



10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
233,324
233,324

233,324
233,324


Page 10

 
CAWDOR CORPORATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Prior year adjustment

The prior year accounts included an unlisted fixed asset investment of £46,000 which was incorrectly classified. The asset has been restated in the comparative Balance Sheet as an intangible asset and amortised accordingly in the current accounting period. 

Page 11