3 2 Caveswood Limited 03183506 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is is that of retail sale. Digita Accounts Production Advanced 6.30.9574.0 true 03183506 2023-07-01 2024-06-30 03183506 2024-06-30 03183506 core:RetainedEarningsAccumulatedLosses 2024-06-30 03183506 core:ShareCapital 2024-06-30 03183506 core:FinancialAssetsCostLessImpairment core:CurrentFinancialInstruments 2024-06-30 03183506 core:CurrentFinancialInstruments 2024-06-30 03183506 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 03183506 core:Non-currentFinancialInstruments 2024-06-30 03183506 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 03183506 core:FurnitureFittingsToolsEquipment 2024-06-30 03183506 core:MotorVehicles 2024-06-30 03183506 core:OtherPropertyPlantEquipment 2024-06-30 03183506 bus:SmallEntities 2023-07-01 2024-06-30 03183506 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 03183506 bus:FilletedAccounts 2023-07-01 2024-06-30 03183506 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03183506 bus:RegisteredOffice 2023-07-01 2024-06-30 03183506 bus:Director1 2023-07-01 2024-06-30 03183506 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03183506 core:FurnitureFittings 2023-07-01 2024-06-30 03183506 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 03183506 core:MotorVehicles 2023-07-01 2024-06-30 03183506 core:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 03183506 core:PlantMachinery 2023-07-01 2024-06-30 03183506 countries:EnglandWales 2023-07-01 2024-06-30 03183506 2023-06-30 03183506 core:FurnitureFittingsToolsEquipment 2023-06-30 03183506 core:MotorVehicles 2023-06-30 03183506 core:OtherPropertyPlantEquipment 2023-06-30 03183506 2022-07-01 2023-06-30 03183506 2023-06-30 03183506 core:RetainedEarningsAccumulatedLosses 2023-06-30 03183506 core:ShareCapital 2023-06-30 03183506 core:FinancialAssetsCostLessImpairment core:CurrentFinancialInstruments 2023-06-30 03183506 core:CurrentFinancialInstruments 2023-06-30 03183506 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 03183506 core:Non-currentFinancialInstruments 2023-06-30 03183506 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 03183506 core:FurnitureFittingsToolsEquipment 2023-06-30 03183506 core:MotorVehicles 2023-06-30 03183506 core:OtherPropertyPlantEquipment 2023-06-30 xbrli:pure iso4217:GBP

Registration number: 03183506

Caveswood Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Caveswood Limited

(Registration number: 03183506)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

139,698

123,610

Current assets

 

Stocks

118,548

108,000

Debtors

6

40,783

24,372

Other financial assets

5

-

20,548

Cash at bank and in hand

 

92,847

60,597

 

252,178

213,517

Creditors: Amounts falling due within one year

7

(89,779)

(60,782)

Net current assets

 

162,399

152,735

Total assets less current liabilities

 

302,097

276,345

Creditors: Amounts falling due after more than one year

7

(8,594)

(19,908)

Provisions for liabilities

(26,543)

-

Net assets

 

266,960

256,437

Capital and reserves

 

Called up share capital

100

100

Retained earnings

266,860

256,337

Shareholders' funds

 

266,960

256,437

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

.........................................
Mr J L Sivyer
Director

 

Caveswood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
The Corner House
2 High Street
Aylesford
Kent
ME20 7BG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Caveswood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15% on reducing balance

Motor Vehicles

25% on reducing balance

Plant & Machinery

15% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Caveswood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 2).

 

Caveswood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

17,109

103,500

128,654

249,263

Additions

1,165

-

75,251

76,416

Disposals

-

-

(39,780)

(39,780)

At 30 June 2024

18,274

103,500

164,125

285,899

Depreciation

At 1 July 2023

9,876

60,425

55,352

125,653

Charge for the year

1,803

10,769

13,943

26,515

Eliminated on disposal

-

-

(5,967)

(5,967)

At 30 June 2024

11,679

71,194

63,328

146,201

Carrying amount

At 30 June 2024

6,595

32,306

100,797

139,698

At 30 June 2023

7,233

43,075

73,302

123,610

5

Other financial assets (current and non-current)

2024
£

2023
£

Current financial assets

Financial assets at cost less impairment

-

20,548

6

Debtors

Current

2024
£

2023
£

Trade debtors

24,263

19,590

Other debtors

16,520

4,782

 

40,783

24,372

7

Creditors

 

Caveswood Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

25,134

12,639

Trade creditors

 

51,160

39,044

Taxation and social security

 

12,085

7,486

Accruals and deferred income

 

1,400

1,600

Other creditors

 

-

13

 

89,779

60,782

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

8,594

19,908

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,594

19,908

Current loans and borrowings

2024
£

2023
£

Bank borrowings

11,288

10,015

Other borrowings

13,846

2,624

25,134

12,639