Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312023-02-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07504410 2023-02-01 2024-01-31 07504410 2022-02-01 2023-01-31 07504410 2024-01-31 07504410 2023-01-31 07504410 c:Director1 2023-02-01 2024-01-31 07504410 c:RegisteredOffice 2023-02-01 2024-01-31 07504410 d:FurnitureFittings 2023-02-01 2024-01-31 07504410 d:FurnitureFittings 2024-01-31 07504410 d:FurnitureFittings 2023-01-31 07504410 d:CurrentFinancialInstruments 2024-01-31 07504410 d:CurrentFinancialInstruments 2023-01-31 07504410 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07504410 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07504410 d:ShareCapital 2024-01-31 07504410 d:ShareCapital 2023-01-31 07504410 d:RetainedEarningsAccumulatedLosses 2024-01-31 07504410 d:RetainedEarningsAccumulatedLosses 2023-01-31 07504410 c:OrdinaryShareClass1 2023-02-01 2024-01-31 07504410 c:OrdinaryShareClass1 2024-01-31 07504410 c:OrdinaryShareClass1 2023-01-31 07504410 c:FRS102 2023-02-01 2024-01-31 07504410 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07504410 c:FullAccounts 2023-02-01 2024-01-31 07504410 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07504410 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 07504410










CLIO ART LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




















 
CLIO ART LIMITED
 
 
Company Information


Director
J Wakefield 




Registered number
07504410



Registered office
3rd Floor
12 Gough Square

London

EC4A 3DW





 
CLIO ART LIMITED
Registered number: 07504410

Balance sheet
As at 31 January 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
1,584,247
1,265,723

Debtors: amounts falling due within one year
 5 
43,934
5,065

Cash at bank and in hand
 6 
46,587
159,038

  
1,674,768
1,429,826

Creditors: amounts falling due within one year
 7 
(1,024,633)
(818,767)

Net current assets
  
 
 
650,135
 
 
611,059

Total assets less current liabilities
  
650,135
611,059

  

Net assets
  
650,135
611,059


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
650,035
610,959

  
650,135
611,059


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 and delivered 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 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 31 January 2025.

................................................
J Wakefield
Director

The notes on pages 3 to 7 form part of these financial statements.
Page 1

 
CLIO ART LIMITED
Registered number: 07504410
    
Balance sheet (continued)
As at 31 January 2024


Page 2

 
CLIO ART LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

1.


General information

Clio Art Limited is a private limited company incorporated in the United Kingdom and registered in England and Wales, The company's registered office is 3rd Floor, 12 Gough Square, London, EC4A 3DW. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

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.

 
2.3

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 3

 
CLIO ART LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Fixtures & fittings
-
33%
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.

 
2.4

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.
At each balance sheet date, stocks are assessed for impairment. If stock is imparied, the carrying amount is reduced to its selling price less costs to complete and sell. The impairmant loss is recognised immediately in profit and loss.

 
2.5

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.

 
2.6

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.

 
2.7

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 4

 
CLIO ART LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

2.Accounting policies (continued)

 
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.


 
2.9

Foreign currencies

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.

 
2.10

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 1 (2023 - 1).

Page 5

 
CLIO ART LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

4.


Tangible fixed assets





Fixtures & fittings

£



Cost or valuation


At 1 February 2023
448



At 31 January 2024

448



Depreciation


At 1 February 2023
448



At 31 January 2024

448



Net book value



At 31 January 2024
-



At 31 January 2023
-


5.


Debtors

2024
2023
£
£


Trade debtors
-
5,065

Other debtors
43,934
-

43,934
5,065



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
46,587
159,038

46,587
159,038


Page 6

 
CLIO ART LIMITED
 
 
 
Notes to the financial statements
For the Year Ended 31 January 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
4,684

Corporation tax
39,006
25,334

Other taxation and social security
-
14,123

Other creditors
979,277
764,396

Accruals and deferred income
6,350
10,230

1,024,633
818,767



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares shares of £1.00 each
100
100


 
Page 7