P M CASTERTON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 APRIL 2024
Company Registration Number: 07189824
P M CASTERTON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the financial statements 4 to 8
P M CASTERTON LIMITED
COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024
DIRECTOR
P M Casterton
SECRETARY
The company does not have an appointed secretary
REGISTERED OFFICE
Manor Lodge
Sandford Road
Westcote Barton
Oxon
OX7 7AD
COMPANY REGISTRATION NUMBER
07189824 England and Wales
P M CASTERTON LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
Notes 2024 2023
£ £
FIXED ASSETS
Intangible assets 6 136,895 162,418
Investments 7 301,500 301,500
438,395 463,918
CURRENT ASSETS
Debtors 8 303,955 199,592
Cash at bank and in hand 51,946 97,218
355,901 296,810
CREDITORS: Amounts falling due within one year 9 57,608 151,725
NET CURRENT ASSETS 298,293 145,085
NET ASSETS 736,688 609,003
CAPITAL AND RESERVES
Called up share capital 100 100
Distributable profit and loss account 736,588 608,903
SHAREHOLDER'S FUNDS 736,688 609,003
These accounts have been prepared and delivered in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report.
Signed on behalf of the board
P M Casterton
Director
Date approved by the board: 30 January 2025
P M CASTERTON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
1 GENERAL INFORMATION
P M Casterton Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
Manor Lodge
Sandford Road
Westcote Barton
Oxon
OX7 7AD
The financial statements are presented in Sterling, which is the functional currency of the company.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of preparation of financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' ('FRS 102') and the Companies Act 2006.
Revenue recognition
Turnover represents the value of the company's share of the trading profits of an accountancy practice.
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity.
Intangible fixed assets
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. At acquisition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses.
Goodwill amortisation is charged on a straight line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life, which is estimated to be between four and twenty years.
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new expectations.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Investments
Investments in associates are shown at cost less accumulated impairment losses.
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 accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Financial assets are measured at cost and amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. Where objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
The impairment for financial assets measured at amortised cost, is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets (which is the higher of value in use and the fair value less cost to sell) is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in the profit and loss account.
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account.
Debtors
Short term debtors are measured at transaction price, less any impairment.
2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…)
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and subsequently at amortised cost.
Taxation
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods based on current tax rates and laws. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other taxable profits.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Current and deferred tax assets and liabilities are not discounted.
3 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements.
4 EMPLOYEES
The average number of persons employed by the company (including directors) during the year was:
2024 2023
Average number of employees 1 1
5 DIRECTOR'S REMUNERATION
2024 2023
£ £
Remuneration paid to the director during the year was: - -
6 INTANGIBLE FIXED ASSETS
Net goodwill
£
Cost
At 1 May 2023 513,009
At 30 April 2024 513,009
Accumulated amortisation and impairments
At 1 May 2023 350,591
Charge for year 25,523
At 30 April 2024 376,114
Net book value
At 1 May 2023 162,418
At 30 April 2024 136,895
7 FIXED ASSET INVESTMENTS
Investment in associates
£
Cost
At 1 May 2023 301,500
At 30 April 2024 301,500
Net book value
At 1 May 2023 301,500
At 30 April 2024 301,500
8 DEBTORS
2024 2023
£ £
Other debtors 303,955 199,592
9 CREDITORS: Amounts falling due within one year
2024 2023
£ £
Taxation and social security 48,070 32,228
Other creditors 9,538 119,497
57,608 151,725
10 DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES
The following director's advances, credits and guarantees took place during the year
Balance at 1 May 2023 Amounts advanced Amounts repaid Amounts written off or waived Balance at 30 April 2024
£ £ £ £ £
P M Casterton 8,988 19,936 9,873 - 19,051
Interest has been charged on this advance at the Beneficial Loan Arrangement Official Rate as prescribed by HM Revenue and Customs. The advance is repayable on demand.
P M Casterton Limited 07189824 false 2023-05-01 2024-04-30 2024-04-30 VT Final Accounts (tagged by user) April 2024 true No description of principal activity 07189824 2022-05-01 2023-04-30 07189824 core:WithinOneYear 2023-04-30 07189824 core:ShareCapital 2023-04-30 07189824 core:RetainedEarningsAccumulatedLosses 2023-04-30 07189824 core:CurrentFinancialInstruments 2023-04-30 07189824 2023-05-01 2024-04-30 07189824 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07189824 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07189824 bus:Director1 2023-05-01 2024-04-30 07189824 bus:RegisteredOffice 2023-05-01 2024-04-30 07189824 core:NetGoodwill 2023-05-01 2024-04-30 07189824 bus:FRS102 2023-05-01 2024-04-30 07189824 bus:FilletedAccounts 2023-05-01 2024-04-30 07189824 2024-04-30 07189824 core:WithinOneYear 2024-04-30 07189824 core:ShareCapital 2024-04-30 07189824 core:RetainedEarningsAccumulatedLosses 2024-04-30 07189824 core:NetGoodwill 2024-04-30 07189824 core:CurrentFinancialInstruments 2024-04-30 07189824 bus:Director1 2024-04-30 07189824 2023-04-30 07189824 core:NetGoodwill 2023-04-30 07189824 bus:Director1 2023-04-30 iso4217:GBP xbrli:pure