Registered number: 09639603
CAVAION BAUMANN UK LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024
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CAVAION BAUMANN UK LIMITED
REGISTERED NUMBER: 09639603
BALANCE SHEET
AS AT 30 JUNE 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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CAVAION BAUMANN UK LIMITED
REGISTERED NUMBER: 09639603
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 28 March 2025.
The notes on pages 4 to 12 form part of these financial statements.
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CAVAION BAUMANN UK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024
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The notes on pages 4 to 12 form part of these financial statements.
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Cavaion Baumann UK Limited is a private company, limited by shares, incorporated in England and Wales. The Company's registration number is 09639603. The registered office is 49 Aldwarke Business Park, Waddington Way, Rotherham, South Yorkshire, S65 3SH. The principal activity of the Company continued to be that of the rental and sale of side loaders.
2.Accounting policies
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Basis of preparation of financial statements
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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 financial statements are prepared in Sterling which is the functional currency of the Company. The financial statements level of rounding is to the nearest £1.
The following principal accounting policies have been applied:
Turnover from the sale of goods is recognised when the Company has transferred the significant risks and rewards of ownership to the buyer and it is probable that the Company will receive the previously agreed upon payment. In respect of sales of side loaders this is typically at the point of acceptance of the side loader by the customer, and in respect of part sales at the point when parts are supplied and delivered to the customer. Turnover from the hire of forklift trucks is recognised on a straight line basis over the period of hire.
Turnover is shown net of sales taxes and discounts.
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Leased assets: the Company as lessee
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Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Finance costs are charged to the statement of comprehensive income 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.
All borrowing costs are recognised in the statement of comprehensive income in the year in which they are incurred.
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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 the statement of comprehensive income 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.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in statement of comprehensive income 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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.
At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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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:
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Straight line over 2 to 10 years
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Straight line over 2 to 10 years
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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.
Proceeds and net book values of disposals of hire fleet are recognised within turnover and cost of sales respectively in the statement of comprehensive income. Profits or losses on sales of other fixed assets are shown net within administrative expenses in the statement of comprehensive income.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
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 the statement of comprehensive income.
Short-term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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.
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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Provisions for liabilities
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Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to statement of comprehensive income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.
The Company only has basic financial instruments.
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.
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The Company has no staff (2023 - NIL). All staff members of the group are employed by fellow group company, Endeavour Forklifts Limited.
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Obligations under finance lease and hire purchase contracts
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Accruals and deferred income
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The bank loan is an unsecured creditor.
Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Creditors: Amounts falling due after more than one year
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Net obligations under finance leases and hire purchase contracts
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The bank loan is an unsecured creditor.
Obligations under finance lease and hire purchase contracts are secured over the assets to which they relate.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Hire purchase and finance leases
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Minimum lease payments under hire purchase fall due as follows:
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The obligations under finance leases and hire purchase contracts above are secured on the assets to which they relate.
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Charged to statement of comprehensive income
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Credited to statement of comprehensive income
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CAVAION BAUMANN UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Allotted, called up and fully paid
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100 (2023 - 100) Ordinary shares of £1.00 each
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Profit and loss account
This reserve records all current and prior period retained profits and losses.
A group VAT registration is in force. The Company is therefore jointly and severally liable for the amount of VAT owed by Endeavour Forklifts Limited. At the balance sheet date this amounted to £nil (2023 - £25,255).
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Related party transactions
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The Company has taken advantage of the exemptions conferred by FRS 102 not to disclose transactions with wholly owned members of the group.
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The parent company is Endeavour Forklifts Limited, a company incorporated in England and Wales, its registered office is 49 Aldwarke Business Park, Waddington Way, Aldwarke, Rotherham, S65 3SH.
The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.
The audit report was signed on 28 March 2025 by Stephen Newman (Senior Statutory Auditor) on behalf of PKF Smith Cooper Audit Limited.
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