Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-3016false2023-10-01falseinsect repellent19falsetrue 02962721 2023-10-01 2024-09-30 02962721 2022-10-01 2023-09-30 02962721 2024-09-30 02962721 2023-09-30 02962721 c:Director2 2023-10-01 2024-09-30 02962721 d:PlantMachinery 2023-10-01 2024-09-30 02962721 d:PlantMachinery 2024-09-30 02962721 d:PlantMachinery 2023-09-30 02962721 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02962721 d:FurnitureFittings 2023-10-01 2024-09-30 02962721 d:FurnitureFittings 2024-09-30 02962721 d:FurnitureFittings 2023-09-30 02962721 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02962721 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 02962721 d:CurrentFinancialInstruments 2024-09-30 02962721 d:CurrentFinancialInstruments 2023-09-30 02962721 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 02962721 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 02962721 d:ShareCapital 2024-09-30 02962721 d:ShareCapital 2023-09-30 02962721 d:RetainedEarningsAccumulatedLosses 2024-09-30 02962721 d:RetainedEarningsAccumulatedLosses 2023-09-30 02962721 c:FRS102 2023-10-01 2024-09-30 02962721 c:Audited 2023-10-01 2024-09-30 02962721 c:FullAccounts 2023-10-01 2024-09-30 02962721 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 02962721 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 02962721 2 2023-10-01 2024-09-30 02962721 6 2023-10-01 2024-09-30 02962721 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 02962721










CITREFINE INTERNATIONAL LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
CITREFINE INTERNATIONAL LIMITED
REGISTERED NUMBER: 02962721

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
139,370
86,638

Investments
 6 
3,143
3,143

  
142,513
89,781

Current assets
  

Stocks
  
2,737,118
3,190,558

Debtors: amounts falling due within one year
 7 
819,333
1,010,229

Cash at bank and in hand
 8 
5,069,317
2,657,765

  
8,625,768
6,858,552

Creditors: amounts falling due within one year
 9 
(1,352,755)
(868,506)

Net current assets
  
 
 
7,273,013
 
 
5,990,046

Total assets less current liabilities
  
7,415,526
6,079,827

  

Net assets
  
7,415,526
6,079,827


Capital and reserves
  

Called up share capital 
  
200
200

Profit And Loss Account
  
7,415,326
6,079,627

  
7,415,526
6,079,827


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 income and retained earnings 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 1 April 2025.




Ms J J Watson
Director

The notes on pages 2 to 7 form part of these financial statements.

Page 1

 
CITREFINE INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

The principal activity of the company during the year was selling its active ingredient and a naturally based insect repellent.
The company is a private company limited by shares, registered in England and Wales (no. 02962721). The address of the registered office is Moorfield Road, Yeadon, Leeds, West Yorkshire, LS19 7BN.

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 judgement in applying the Company's accounting policies (see note 3).

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

The directors have made an informed judgement, at the time of approving the financial statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. 
This assessment is based on the understanding that the company will continue to trade and, with retained reserves, will be able to continue to meet its obligations as they fall due and operate as a going concern.
As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Page 2

 
CITREFINE INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.7

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.8

Interest income

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

 
2.9

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
CITREFINE INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

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 reporting date in the countries where the Company operates and generates income.


 
2.11

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.

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.

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:

Plant and machinery
-
3 to 10 years straight line
Fixtures and fittings
-
3 to 10 years 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.

 
2.12

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.13

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 reporting 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.

Page 4

 
CITREFINE INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.14

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.

 
2.15

Dividends

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.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no judgements or estimates made that have the potential to materially misstate the figures as shown in this set of financial statements. Details of judgements are set out in the accounting policies.


4.


Employees

The average monthly number of employees, including directors, during the year was 19 (2023 - 16).

Page 5

 
CITREFINE INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

5.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 October 2023
101,315
97,022
198,337


Additions
9,497
81,259
90,756



At 30 September 2024

110,812
178,281
289,093



Depreciation


At 1 October 2023
79,288
32,411
111,699


Charge for the year on owned assets
10,567
27,457
38,024



At 30 September 2024

89,855
59,868
149,723



Net book value



At 30 September 2024
20,957
118,413
139,370



At 30 September 2023
22,027
64,611
86,638


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 October 2023
3,143



At 30 September 2024
3,143





7.


Debtors

2024
2023
£
£


Trade debtors
520,791
602,337

Amounts owed by group undertakings
218,686
283,767

Other debtors
79,856
124,125

819,333
1,010,229

Page 6

 
CITREFINE INTERNATIONAL LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.Debtors (continued)



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
5,069,317
2,657,765

5,069,317
2,657,765



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
245,199
423,154

Corporation tax
321,000
16,500

Other taxation and social security
26,862
23,379

Other creditors
759,694
405,473

1,352,755
868,506



10.


Auditors' information

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 1 April 2025 by Susan Seaman BA, FCA, CIOT (Senior Statutory Auditor) on behalf of AAB Audit & Accountancy Limited.


Page 7