Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity66falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09470380 2023-04-01 2024-03-31 09470380 2022-04-01 2023-03-31 09470380 2024-03-31 09470380 2023-03-31 09470380 c:Director1 2023-04-01 2024-03-31 09470380 d:MotorVehicles 2023-04-01 2024-03-31 09470380 d:MotorVehicles 2024-03-31 09470380 d:MotorVehicles 2023-03-31 09470380 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09470380 d:MotorVehicles d:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 09470380 d:CurrentFinancialInstruments 2024-03-31 09470380 d:CurrentFinancialInstruments 2023-03-31 09470380 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 09470380 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09470380 d:ShareCapital 2024-03-31 09470380 d:ShareCapital 2023-03-31 09470380 d:SharePremium 2023-04-01 2024-03-31 09470380 d:SharePremium 2024-03-31 09470380 d:SharePremium 2023-03-31 09470380 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 09470380 d:RetainedEarningsAccumulatedLosses 2024-03-31 09470380 d:RetainedEarningsAccumulatedLosses 2023-03-31 09470380 c:OrdinaryShareClass1 2023-04-01 2024-03-31 09470380 c:OrdinaryShareClass1 2024-03-31 09470380 c:OrdinaryShareClass1 2023-03-31 09470380 c:FRS102 2023-04-01 2024-03-31 09470380 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 09470380 c:FullAccounts 2023-04-01 2024-03-31 09470380 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09470380 2 2023-04-01 2024-03-31 09470380 e:Euro 2023-04-01 2024-03-31 09470380 d:MotorVehicles d:PreviouslyStatedAmount 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09470380









EL SANTO LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
EL SANTO LIMITED
REGISTERED NUMBER: 09470380

BALANCE SHEET
AS AT 31 MARCH 2024

2024
*Restated 2023
Note

Fixed assets
  

Tangible assets
 6 
12,968,224
1,540,343

  
12,968,224
1,540,343

Current assets
  

Debtors: amounts falling due within one year
 7 
1,211,786
5,078,550

Cash at bank and in hand
 8 
1,075,965
909,996

  
2,287,751
5,988,546

Creditors: amounts falling due within one year
 9 
-
(87,756)

Net current assets
  
 
 
2,287,751
 
 
5,900,790

Total assets less current liabilities
  
15,255,975
7,441,133

  

Net assets
  
15,255,975
7,441,133


Capital and reserves
  

Called up share capital 
 10 
278,843
191,734

Share premium account
 11 
19,231,549
10,607,683

Profit and loss account
 11 
(4,254,417)
(3,358,284)

  
15,255,975
7,441,133


(*see note 4)
 
Page 1

 
EL SANTO LIMITED
REGISTERED NUMBER: 09470380
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider 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 directors acknowledge their 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 by: 




A Doctor Murcia
Director

Date: 20 March 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

El Santo Limited is a private limited company, limited by shares, incorporated in England and Wales. The company's registered number is 09470380 and the registered office address of the registered office is at 45 Gresham Street, EC2V 7BG. 
The financial statements are presented in Euros, 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 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 (see note 3).

The following principal accounting policies have been applied:

 
2.2

Going concern

The company made a loss of €896,131 (2023:restated loss of €278,853 and has a balance sheet showing a net assets figure of €15,255,975 at 31 March 2024 (2023: Restated €7,408,186).  The directors have prepared the accounts on the going concern basis as the company has confirmed it will have sufficient reserves  support for the foreseeable future. 

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is Euros.

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.

 
2.4

Interest income

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

Page 3

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred 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:

Motor vehicles
-
5% 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.

 
2.7

Financial instruments

Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Page 4

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

No significant judgements have had to be made by the directors in preparing these financial statements.


4.


Restatement of the prior year figures

Tangible fixed assets
      
During the year it was realised that the disposal of fixed assets was incorrectly accounted in 2023, therefore the gain on disposal was incorrectly accounted.
Prior year figures have been restated in these financial statements to correctly reflect the disposal in relation to prior impairments. As part of this restatement changes were made to the presentation and disclosures in the financial statements to accurately reflect this. 
The amount of the correction for each line item of the balance sheet affected was:
 
Decrease Other operating income by  €711,231
Decrease Profit and Loss Accounts by €71,231; and
Decrease Tangible Fixed Assets by €711,231.


5.


Employees

2024
2023

Wages and salaries
63,331
136,055

Social security costs
433
5,645

63,764
141,700


The average monthly number of employees, including directors, during the year was 6 (2023 - 6).

Page 5

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets





Motor vehicles




Cost or valuation


At 1 April 2023
1,690,788


Additions
12,118,337



At 31 March 2024

13,809,125



Depreciation


At 1 April 2023 (as previously stated)
(560,786)


Prior Year Adjustment
711,231


At 1 April 2023 (as restated)
150,445


Charge for the year on owned assets
690,456



At 31 March 2024

840,901



Net book value



At 31 March 2024
12,968,224



At 31 March 2023 (as restated)
1,540,343

(*See note 4)


7.


Debtors

2024
2023


Other debtors
1,211,786
5,078,550

1,211,786
5,078,550


Page 6

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

2024
2023

Cash at bank and in hand
1,075,965
909,996

1,075,965
909,996



9.


Creditors: Amounts falling due within one year

2024
2023

Trade creditors
-
6,430

Other creditors
-
81,326

-
87,756



10.


Share capital

2024
2023
Allotted, called up and fully paid



228,168 (2023 - 153,529) Ordinary shares of £1.00 each
278,843
191,734


On 15 June 2023 the company issued 39,355 ordinary shares of £1 each for a total consideration of €4,600,000 which gave rise to a share premium of €4,554,000.
On 15 December 2023 the company issued 35,284 ordinary shares of £1 each for a total consideration of €4,110,975 which gave rise to a share premium of €4,069,866.


11.


Reserves

Share premium account

The share premium account is used to record the aggregate amount or value of premiums paid when the company’s shares are issued at an amount in excess of nominal value.

Profit & loss account

This reserve relates to cumulative retained earnings less amounts distributed to shareholders or used to fund repurchase of shares.

Page 7

 
EL SANTO LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

During the year the directors of the company did not received any remuneration (2023: £nil).


13.


Controlling party

The controlling party is H F Gomez Garcia, by virtue of share ownership.

Page 8