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Registered number: 05280230









CAREBROOK (CAMDEN MARKET) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 MARCH 2024

 
CAREBROOK (CAMDEN MARKET) LIMITED
REGISTERED NUMBER: 05280230

BALANCE SHEET
AS AT 28 MARCH 2024

28 March
31 March
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
95,297
117,812

  
95,297
117,812

Current assets
  

Stocks
  
4,754
3,987

Debtors: amounts falling due within one year
 6 
1,107,678
454,293

Cash at bank and in hand
 7 
114,080
586,036

  
1,226,512
1,044,316

Creditors: amounts falling due within one year
 8 
(929,235)
(958,029)

Net current assets
  
 
 
297,277
 
 
86,287

Total assets less current liabilities
  
392,574
204,099

  

Net assets
  
392,574
204,099


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
392,573
204,098

  
392,574
204,099


Page 1

 
CAREBROOK (CAMDEN MARKET) LIMITED
REGISTERED NUMBER: 05280230
    
BALANCE SHEET (CONTINUED)
AS AT 28 MARCH 2024

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 25 March 2025.




G Loughran
Director

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

Page 2

 
CAREBROOK (CAMDEN MARKET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

1.


General information

Carebrook (Camden Market) Limited is a private company limited by shares and incorporated in England. The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. The financial statements are presented in Sterling, 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 following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

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:

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.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
CAREBROOK (CAMDEN MARKET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.


 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.8

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 4

 
CAREBROOK (CAMDEN MARKET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
straight line over the life of the lease
Plant and machinery
-
25%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
25%
Reducing balance

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.

 
2.9

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 on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

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

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 17).

Page 5

 
CAREBROOK (CAMDEN MARKET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

4.


Intangible assets






Patents

£



Cost


At 1 April 2023
10,000



At 28 March 2024

10,000



Amortisation


At 1 April 2023
10,000



At 28 March 2024

10,000



Net book value



At 28 March 2024
-



At 31 March 2023
-



Page 6

 
CAREBROOK (CAMDEN MARKET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

5.


Tangible fixed assets







Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 April 2023
74,839
677,809
752,648


Additions
-
6,155
6,155



At 28 March 2024

74,839
683,964
758,803



Depreciation


At 1 April 2023
51,438
583,398
634,836


Charge for the year
3,740
24,930
28,670



At 28 March 2024

55,178
608,328
663,506



Net book value



At 28 March 2024
19,661
75,636
95,297



At 31 March 2023
23,401
94,411
117,812


6.


Debtors

28 March
31 March
2024
2023
£
£


Trade debtors
9,564
-

Amounts owed by group undertakings
1,075,958
404,440

Other debtors
2,378
-

Prepayments and accrued income
19,778
49,853

1,107,678
454,293


Page 7

 
CAREBROOK (CAMDEN MARKET) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024

7.


Cash and cash equivalents

28 March
31 March
2024
2023
£
£

Cash at bank and in hand
114,080
586,036

114,080
586,036



8.


Creditors: Amounts falling due within one year

28 March
31 March
2024
2023
£
£

Trade creditors
20,281
74,578

Amounts owed to group undertakings
631,038
602,197

Corporation tax
69,393
35,696

Other taxation and social security
-
25,298

Other creditors
30,750
51,290

Accruals and deferred income
177,773
168,970

929,235
958,029



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £5,163 (2023: £7,009).
Contributions totalling £Nil (2023: £20,458) were payable to the fund at the balance sheet date and are included in creditors.


10.


Controlling party

The immediate parent company is Carebrook Holdings Limited. The ultimate controlling party is G. Loughran.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 28 March 2024 was unqualified.

The audit report was signed on 25 March 2025 by Neville Newman (Senior Statutory Auditor) on behalf of Harris & Trotter LLP.

 
Page 8