Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01No description of principal activity21falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06667884 2023-07-01 2024-06-30 06667884 2022-07-01 2023-06-30 06667884 2024-06-30 06667884 2023-06-30 06667884 c:Director1 2023-07-01 2024-06-30 06667884 c:RegisteredOffice 2023-07-01 2024-06-30 06667884 d:PlantMachinery 2023-07-01 2024-06-30 06667884 d:PlantMachinery 2024-06-30 06667884 d:PlantMachinery 2023-06-30 06667884 d:FurnitureFittings 2023-07-01 2024-06-30 06667884 d:FurnitureFittings 2024-06-30 06667884 d:FurnitureFittings 2023-06-30 06667884 d:ComputerEquipment 2023-07-01 2024-06-30 06667884 d:ComputerEquipment 2024-06-30 06667884 d:ComputerEquipment 2023-06-30 06667884 d:CurrentFinancialInstruments 2024-06-30 06667884 d:CurrentFinancialInstruments 2023-06-30 06667884 d:Non-currentFinancialInstruments 2024-06-30 06667884 d:Non-currentFinancialInstruments 2023-06-30 06667884 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 06667884 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06667884 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 06667884 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 06667884 d:ShareCapital 2024-06-30 06667884 d:ShareCapital 2023-06-30 06667884 d:RetainedEarningsAccumulatedLosses 2024-06-30 06667884 d:RetainedEarningsAccumulatedLosses 2023-06-30 06667884 c:OrdinaryShareClass1 2023-07-01 2024-06-30 06667884 c:OrdinaryShareClass1 2024-06-30 06667884 c:OrdinaryShareClass1 2023-06-30 06667884 c:FRS102 2023-07-01 2024-06-30 06667884 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 06667884 c:FullAccounts 2023-07-01 2024-06-30 06667884 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 06667884 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 06667884









STEAM CREAM LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
STEAM CREAM LIMITED
 
 
COMPANY INFORMATION


Director
Andrew Tone 




Registered number
06667884



Registered office
1010 Eskdale Road
Winnersh Triangle

Wokingham

United Kingdom

RG41 5TS




Accountants
Donald Reid Limited

1010 Eskdale Road

Winnersh

Wokingham

England

RG41 5TS





 
STEAM CREAM LIMITED
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 8


 
STEAM CREAM LIMITED
REGISTERED NUMBER: 06667884

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
583
-

  
583
-

Current assets
  

Stocks
 5 
5,079
52,343

Debtors: amounts falling due within one year
 6 
3,275
10,011

Cash at bank and in hand
 7 
4,904
3,004

  
13,258
65,358

Creditors: amounts falling due within one year
 8 
(1,715,284)
(23,588)

Net current (liabilities)/assets
  
 
 
(1,702,026)
 
 
41,770

Total assets less current liabilities
  
(1,701,443)
41,770

Creditors: amounts falling due after more than one year
 9 
(762,891)
(2,533,778)

  

Net liabilities
  
(2,464,334)
(2,492,008)


Capital and reserves
  

Called up share capital 
 10 
50,000
50,000

Profit and loss account
  
(2,514,334)
(2,542,008)

  
(2,464,334)
(2,492,008)


Page 1

 
STEAM CREAM LIMITED
REGISTERED NUMBER: 06667884
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The director considers 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 director acknowledges his 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 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 28 March 2025.




Andrew Tone
Director

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

Page 2

 
STEAM CREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Steam Cream Limited is a private company limited by shares. The company is incorporated in the United Kingdom and registered in England and Wales. The registration number is 06667884. The registered office is 1010 Eskdale Road, Winnersh Triangle, Wokingham, United Kingdom, RG41 5TS.

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

At year end, the company has net liabilities of £2,464,334 (2023: £2,492,008). As the company will continue to be supported by its group companies, the director considers it appropriate to prepare the accounts on a going concern basis. 

 
2.3

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
STEAM CREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

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

 
STEAM CREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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
-
25%
reducing balance method
Fixtures and fittings
-
25%
straight-line method
Computer equipment
-
33%
straight-line method

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.

 
2.8

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.

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.

 
2.9

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.

 
2.10

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.

 
2.11

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 2 (2023 - 1).

Page 5

 
STEAM CREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant and machinery
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
17,488
15,870
15,127
48,485


Additions
-
-
583
583


Disposals
(17,488)
(15,870)
(15,127)
(48,485)



At 30 June 2024

-
-
583
583





At 1 July 2023
17,488
15,870
15,127
48,485


Disposals
(17,488)
(15,870)
(15,127)
(48,485)



At 30 June 2024

-
-
-
-



Net book value



At 30 June 2024
-
-
583
583



At 30 June 2023
-
-
-
-


5.


Stocks

2024
2023
£
£

Finished goods and goods for resale
5,079
52,343

5,079
52,343



6.


Debtors

2024
2023
£
£


Other debtors
-
6,914

Prepayments and accrued income
3,275
3,097

3,275
10,011


Page 6

 
STEAM CREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
4,904
3,004

4,904
3,004



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,294
3,026

Amounts owed to group undertakings
1,683,405
-

Other taxation and social security
7,374
758

Other creditors
20,011
19,804

Accruals and deferred income
1,200
-

1,715,284
23,588



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
762,891
2,533,778

762,891
2,533,778



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10,000 (2023 - 10,000) Ordinary shares of £5.00 each
50,000
50,000


Page 7

 
STEAM CREAM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


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 £1,067 (2023: £978). Contributions totalling £207 (2023: £Nil) were payable to the fund at the reporting date and are included in creditors.


12.


Related party transactions

At the year end, included in amounts owed by group undertakings due within one year, is an amount of £1,683,405 (2023: £Nil) owed to group companies.
At the year end, included in amounts owed by group undertakings due in more than one year, is an amount of £762,891 
(2023: £2,533,778) owed to group companies.
At the year end, included in other creditors, is an amount of £19,804 
(2023 as restated: £19,804) owed to the directors by the company.


13.


Controlling party

The ultimate controlling party is Silverwood Brands PLC, a company incorporated in the United Kingdom. The registered address of Silverwood Brands PLC is Unit 7 Westergate Business Centre, Westergate Road, Brighton, United Kingdom, BN2 4QN.

 
Page 8