Contents of the Financial Statements
for the Period Ended 30 June 2024
Balance sheet
As at
30 June 2024
|
Notes
|
2024
|
|
|
£
|
Current assets |
Stocks: |
|
2,835,871
|
Total current assets: |
|
2,835,871
|
Creditors: amounts falling due within one year: |
3 |
(2,835,870)
|
Net current assets (liabilities): |
|
1
|
Total assets less current liabilities: |
|
1
|
Total net assets (liabilities): |
|
1
|
Capital and reserves |
Called up share capital: |
|
1
|
Shareholders funds: |
|
1
|
The notes form part of these financial statements
Balance sheet statements
For the year ending 30 June 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit & loss account.
This report was approved by the board of directors on
14 March 2025
and signed on behalf of the board by:
Name:
Warren Spokes
Status: Director
The notes form part of these financial statements
Notes to the Financial Statements
for the Period Ended 30 June 2024
1. Accounting policies
These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102Other accounting policies
Basis of preparation
Al Caseta Limited (the “Company”) is a private company limited by shares and incorporated and domiciled in the UK.
The Company’s registered office is Scot House, Matford Park Road, Exeter, EX2 8AW.
The Company is exempt by virtue of s400 of the Companies Act 2006 from the requirement to prepare group financial statements. These financial statements present information about the Company as an individual undertaking and not about its group.
These financial statements were prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historic cost convention. The principal accounting policies adopted are set out below.
Cash and cash equivalents
Cash and cash equivalents comprise cash balances and call deposits.
Financial assets - Trade and other debtors
Trade and other debtors are recognised initially at transaction price less attributable transaction costs. The assets are subsequently carried at amortised cost using the effective interest method, less provision for impairment. At the end of each reporting period the financial assets are assessed for evidence of impairment. If an asset is impaired, the impairment loss is recognised in the profit or loss. Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial liabilities - trade and other creditors
Trade and other creditors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Taxation
Tax on the profit or loss for the year comprises current tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income.
Current tax is the expected tax payable or receivable on the taxable income or loss for the year, using tax rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years.
Notes to the Financial Statements
for the Period Ended 30 June 2024
2. Employees
|
2024 |
Average number of employees during the period |
0
|
Notes to the Financial Statements
for the Period Ended 30 June 2024
3. Creditors: amounts falling due within one year note
Trade creditors £8,715
Amounts owed to other related undertakings £2,827,155
Notes to the Financial Statements
for the Period Ended 30 June 2024
4. Related party transactions
Name of the related party: |
Highcliffe Capital
|
Relationship: |
Parent company
|
Description of the Transaction: |
Loan to the company
|
£ |
Balance at 30 June 2024 |
|
2,827,155
|
Other related parties include transactions with the shareholder of the company.
There were no sales or purchases to related parties during this period.