Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01truefalseveterinary activities22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12570332 2023-05-01 2024-04-30 12570332 2022-05-01 2023-04-30 12570332 2024-04-30 12570332 2023-04-30 12570332 2022-05-01 12570332 c:PriorPeriodIncreaseDecrease 2023-05-01 2024-04-30 12570332 d:Director1 2023-05-01 2024-04-30 12570332 c:Buildings 2023-05-01 2024-04-30 12570332 c:Buildings 2024-04-30 12570332 c:Buildings 2023-04-30 12570332 c:Buildings c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12570332 c:PlantMachinery 2023-05-01 2024-04-30 12570332 c:PlantMachinery 2024-04-30 12570332 c:PlantMachinery 2023-04-30 12570332 c:PlantMachinery c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12570332 c:OfficeEquipment 2023-05-01 2024-04-30 12570332 c:OfficeEquipment 2024-04-30 12570332 c:OfficeEquipment 2023-04-30 12570332 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12570332 c:ComputerEquipment 2023-05-01 2024-04-30 12570332 c:ComputerEquipment 2024-04-30 12570332 c:ComputerEquipment 2023-04-30 12570332 c:ComputerEquipment c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12570332 c:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 12570332 c:CurrentFinancialInstruments 2024-04-30 12570332 c:CurrentFinancialInstruments 2023-04-30 12570332 c:CurrentFinancialInstruments c:WithinOneYear 2024-04-30 12570332 c:CurrentFinancialInstruments c:WithinOneYear 2023-04-30 12570332 c:ShareCapital 2023-05-01 2024-04-30 12570332 c:ShareCapital 2024-04-30 12570332 c:ShareCapital 2022-05-01 2023-04-30 12570332 c:ShareCapital 2023-04-30 12570332 c:ShareCapital 2022-05-01 12570332 c:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 12570332 c:RetainedEarningsAccumulatedLosses 2024-04-30 12570332 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2023-05-01 2024-04-30 12570332 c:RetainedEarningsAccumulatedLosses 2022-05-01 2023-04-30 12570332 c:RetainedEarningsAccumulatedLosses 2023-04-30 12570332 c:RetainedEarningsAccumulatedLosses 2022-05-01 12570332 d:FRS102 2023-05-01 2024-04-30 12570332 d:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 12570332 d:FullAccounts 2023-05-01 2024-04-30 12570332 d:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 12570332 2 2023-05-01 2024-04-30 12570332 e:PoundSterling 2023-05-01 2024-04-30 12570332 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2023-05-01 2024-04-30 12570332 c:RetainedEarningsAccumulatedLosses c:PreviouslyStatedAmount 2023-04-30 12570332 c:PreviouslyStatedAmount 2023-04-30 iso4217:GBP xbrli:pure

Registered number: 12570332










CREDIVET LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
CREDIVET LIMITED
REGISTERED NUMBER: 12570332

BALANCE SHEET
AS AT 30 APRIL 2024

As restated
As restated
2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
9,873
13,135

Current assets
  

Debtors: amounts falling due within one year
 5 
797
6,615

Cash at bank and in hand
 6 
157,221
113,828

  
158,018
120,443

Creditors: amounts falling due within one year
 7 
(77,419)
(64,335)

Net current assets
  
 
 
80,599
 
 
56,108

Net assets
  
90,472
69,243


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
90,372
69,143

  
90,472
69,243


Page 1

 
CREDIVET LIMITED
REGISTERED NUMBER: 12570332
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 30 January 2025.




................................................
R K W Smith
Director

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
CREDIVET LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2023 (as previously stated)
100
100,102
100,202

Prior year adjustment - correction of error
-
(30,959)
(30,959)

At 1 May 2023 (as restated)
100
69,143
69,243


Comprehensive income for the year

Profit for the year
-
21,229
21,229
Total comprehensive income for the year
-
21,229
21,229


Total transactions with owners
-
-
-


At 30 April 2024
100
90,372
90,472


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
CREDIVET LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2022
100
28,776
28,876


Comprehensive income for the year

Profit for the year
-
44,367
44,367
Total comprehensive income for the year
-
44,367
44,367


Contributions by and distributions to owners

Dividends: Equity capital
-
(4,000)
(4,000)


Total transactions with owners
-
(4,000)
(4,000)


At 30 April 2023
100
69,143
69,243


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
CREDIVET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Credivet Limited is a private company limited by shares, incorporated in England and Wales, registered number 12570332. The registered office is Century House, The Lakes, Northampton, NN4 7HD. The principal place of business is 13 Abington Park Crescent, Northampton, NN3 3AD.

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

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:

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.

 
2.3

Interest income

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

 
2.4

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.

Page 5

 
CREDIVET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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:

Freehold property
-
Plant and machinery
-
25%
Office equipment
-
20%
Computer equipment
-
25%

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.

 
2.7

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.

 
2.8

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.

 
2.9

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 6

 
CREDIVET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

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 2 (2023 - 2).

Page 7

 
CREDIVET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Freehold property
Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
7,083
5,500
3,726
3,483
19,792


Additions
-
-
452
-
452



At 30 April 2024

7,083
5,500
4,178
3,483
20,244



Depreciation


At 1 May 2023
1,417
2,750
745
1,745
6,657


Charge for the year on owned assets
708
1,375
760
871
3,714



At 30 April 2024

2,125
4,125
1,505
2,616
10,371



Net book value



At 30 April 2024
4,958
1,375
2,673
867
9,873



At 30 April 2023
5,666
2,750
2,981
1,738
13,135


5.


Debtors

2024
2023
£
£


Other debtors
697
6,515

Called up share capital not paid
100
100

797
6,615



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
157,221
113,828


Page 8

 
CREDIVET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Creditors: Amounts falling due within one year

As restated
2024
2023
£
£

Corporation tax
-
11,438

Other taxation and social security
10,826
-

Other creditors
66,593
52,897

77,419
64,335



8.


Prior year adjustment

A prior year adjustment has been made in respect of income totalling £38,221 which should have been included within creditors in the prior year. This has been restated along with the related corporation tax of £7,262 within the prior year adjustment.

 
Page 9