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Registered number: 06026924
Cathmal Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Andrew Herring & Co
Chartered Certified Accountants
40 Clarence Road
Chesterfield
S40 1LQ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06026924
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 2,922,332 2,922,417
Investment Properties 5 72,000 72,000
2,994,332 2,994,417
CURRENT ASSETS
Stocks 6 123,350 89,350
Debtors 7 144,450 159,054
Cash at bank and in hand 78,953 78,663
346,753 327,067
Creditors: Amounts Falling Due Within One Year 8 (777,751 ) (700,239 )
NET CURRENT ASSETS (LIABILITIES) (430,998 ) (373,172 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,563,334 2,621,245
Creditors: Amounts Falling Due After More Than One Year 9 (745,901 ) (824,709 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (23,820 ) (23,820 )
NET ASSETS 1,793,613 1,772,716
CAPITAL AND RESERVES
Called up share capital 11 2 2
Profit and Loss Account 1,793,611 1,772,714
SHAREHOLDERS' FUNDS 1,793,613 1,772,716
Page 1
Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit 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.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr M Stapleton
Director
27/03/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Cathmal Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06026924 . The registered office is 20 Paradise Sqare, Sheffield, South Yorkshire, S1 1UA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents sales of goods and services net of value added tax. Turnover is recognised when the right to title is passed to the customer. 
Where payments are received from customers in advance of title passing to the customer, the amounts are recorded as deferred income and included as part of creditors due within one year but only when the advance payment is refundable to the customer. Non refundable deposits are included in turnover.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold in accordance with the property
Fixtures & Fittings 15% reducing balance
Computer Equipment 33% on cost
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 2,921,855 3,569 2,633 2,928,057
As at 31 December 2023 2,921,855 3,569 2,633 2,928,057
Depreciation
As at 1 January 2023 - 3,008 2,632 5,640
Provided during the period - 84 1 85
As at 31 December 2023 - 3,092 2,633 5,725
Net Book Value
As at 31 December 2023 2,921,855 477 - 2,922,332
As at 1 January 2023 2,921,855 561 1 2,922,417
5. Investment Property
2023
£
Fair Value
As at 1 January 2023 and 31 December 2023 72,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2023 2022
£ £
Cost 70,000 70,000
6. Stocks
2023 2022
£ £
Stock 123,350 89,350
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 10,400 50,000
Other debtors 134,050 109,054
144,450 159,054
Page 4
Page 5
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 9,691 15,908
Bank loans and overdrafts 72,215 72,215
Other creditors 598,611 429,711
Taxation and social security 97,234 182,405
777,751 700,239
9. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 745,901 824,709
Of the creditors falling due after more than one year the following amounts are due after more than five years.
2023 2022
£ £
Bank loans 473,103 541,912
10. Secured Creditors
Of the creditors the following amounts are secured.
2023 2022
£ £
Bank loans and overdrafts 818,116 896,924
Other Creditors 1,670 1,670
11. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
12. Contingent Liabilities
The company's bankers hold a cross guarantee between the company and M D Stapleton Developments Limited, a company controlled by M D Stapleton.
13. Related Party Transactions
At the year end date, the company was owed £75,433 from M.D. Stapleton Developments Ltd, a company controlled by M D Stapleton (2022: £52,864). During the year the companies traded under normal commercial terms.
At the year end date, the company was owed £50,000 (2022: £50,000) from Clothing Runner Ltd, a company over which M D Stapleton has significant influence.  
14. Controlling Party
The company's controlling party is M D Stapleton by virtue of his ownership of 50% of the issued share capital in the company.
Page 5