Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-282024-07-28Since the end of FY24 the Group in which the company forms a part has continued to grow, with turnover for the first half of FY25 54% higher than the corresponding period in FY24 (Note: £10.2m in Q1 and Q2 FY25, compared to £6.6m in Q1 and Q2 FY24). The increase in turnover has been aided by strong like-for-like House sales and new openings during the year. Looking forward, the Company has three additional Houses currently under construction (Note: Chrysler, Battersea Power Station, Millennium Bridge). The increasing number of Houses continues to increase contribution to central overheads, resulting in improved EBITDA performance. Based on this growth, forecasts prepared for the period to July 2027, and improving profitability metrics, the Company has the appropriate level of support in place. The Company is currently in a net liability position and loss making however the Group in which the Company forms a part is expected to continue to generate positive cash flows for the foreseeable future. The Group has confirmed it will provide financial support to enable the Company to meet its financial obligations. The directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations. Prior to the year-end the Group in which the Company forms a part has ensured additional funding through a share issue and a loan, as such the Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the Director has continued to adopt the going concern basis of accounting in preparing these financial statements.truetrue0true2023-07-31falseNo description of principal activity0falsetruefalse 09984533 2023-07-31 2024-07-28 09984533 2022-08-01 2023-07-30 09984533 2024-07-28 09984533 2023-07-30 09984533 c:Director1 2023-07-31 2024-07-28 09984533 d:MotorVehicles 2023-07-31 2024-07-28 09984533 d:MotorVehicles 2024-07-28 09984533 d:MotorVehicles 2023-07-30 09984533 d:CurrentFinancialInstruments 2024-07-28 09984533 d:CurrentFinancialInstruments 2023-07-30 09984533 d:Non-currentFinancialInstruments 2024-07-28 09984533 d:Non-currentFinancialInstruments 2023-07-30 09984533 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-28 09984533 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-30 09984533 d:Non-currentFinancialInstruments d:AfterOneYear 2024-07-28 09984533 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-30 09984533 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-07-28 09984533 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-30 09984533 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-07-28 09984533 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-30 09984533 d:ShareCapital 2024-07-28 09984533 d:ShareCapital 2023-07-30 09984533 d:RetainedEarningsAccumulatedLosses 2023-07-31 2024-07-28 09984533 d:RetainedEarningsAccumulatedLosses 2024-07-28 09984533 d:RetainedEarningsAccumulatedLosses 2023-07-30 09984533 c:OrdinaryShareClass1 2023-07-31 2024-07-28 09984533 c:OrdinaryShareClass1 2024-07-28 09984533 c:OrdinaryShareClass1 2023-07-30 09984533 c:FRS102 2023-07-31 2024-07-28 09984533 c:Audited 2023-07-31 2024-07-28 09984533 c:FullAccounts 2023-07-31 2024-07-28 09984533 c:PrivateLimitedCompanyLtd 2023-07-31 2024-07-28 09984533 d:WithinOneYear 2024-07-28 09984533 d:WithinOneYear 2023-07-30 09984533 d:BetweenOneFiveYears 2024-07-28 09984533 d:BetweenOneFiveYears 2023-07-30 09984533 c:SmallCompaniesRegimeForAccounts 2023-07-31 2024-07-28 09984533 e:PoundSterling 2023-07-31 2024-07-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09984533
















CHAPEAU TOWER BRIDGE LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 28 JULY 2024


































img16df.png


CHAPEAU TOWER BRIDGE LIMITED
REGISTERED NUMBER:09984533

STATEMENT OF FINANCIAL POSITION
AS AT 28 JULY 2024

28 July
30 July
2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 5 
1,764
1,764

Cash at bank and in hand
 6 
14,627
1,165

  
16,391
2,929

Creditors: amounts falling due within one year
 7 
(241,558)
(182,554)

Net current liabilities
  
 
 
(225,167)
 
 
(179,625)

Total assets less current liabilities
  
(225,167)
(179,625)

Creditors: amounts falling due after more than one year
 8 
(45,455)
(81,819)

  

Net liabilities
  
(270,622)
(261,444)


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
 11 
(270,624)
(261,446)

  
(270,622)
(261,444)


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 by: 





R Marcelin-Horne
Director

Date: 25 April 2025

The notes on pages 2 to 7 form part of these financial statements.
Page 1


CHAPEAU TOWER BRIDGE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JULY 2024

1.


GENERAL INFORMATION

Chapeau Tower Bridge Limited is a private company, limited by shares, registered in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.

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

FINANCIAL REPORTING STANDARD 102 - REDUCED DISCLOSURE EXEMPTIONS

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of WatchHouse Coffee Holdings Limited as at 28 July 2024 and these financial statements may be obtained from Companies House. Crown Way, Maindy, Cardiff, CF14 3UZ.

Page 2


CHAPEAU TOWER BRIDGE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.3

GOING CONCERN

Since the end of FY24 the Group in which the company forms a part has continued to grow, with turnover for the first half of FY25 54% higher than the corresponding period in FY24 (Note: £10.2m in Q1 and Q2 FY25, compared to £6.6m in Q1 and Q2 FY24). The increase in turnover has been aided by strong like-for-like House sales and new openings during the year. Looking forward, the Company has three additional Houses currently under construction (Note: Chrysler, Battersea Power Station, Millennium Bridge). The increasing number of Houses continues to increase contribution to central overheads, resulting in improved EBITDA performance.

Based on this growth, forecasts prepared for the period to July 2027, and improving profitability metrics, the Company has the appropriate level of support in place. The Company is currently in a net liability position and loss making however the Group in which the Company forms a part is expected to continue to generate positive cash flows for the foreseeable future. The Group has confirmed it will provide financial support to enable the Company to meet its financial obligations.

The directors consider that the Company maintains an appropriate level of liquidity, sufficient to meet the demands of the business including any capital and servicing obligations.

Prior to the year-end the Group in which the Company forms a part has ensured additional funding through a share issue and a loan, as such the Director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubts upon the Company's ability to continue as a going concern. Thus the Director has continued to adopt the going concern basis of accounting in preparing these financial statements.

 
2.4

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.

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:

Motor vehicles
-
25%
on cost

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.

 
2.5

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.

Page 3


CHAPEAU TOWER BRIDGE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JULY 2024

2.ACCOUNTING POLICIES (continued)

 
2.6

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.

 
2.7

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 Company has no employees other than the directors, who did not receive any remuneration (2023: £NIL).


4.


TANGIBLE FIXED ASSETS







Motor vehicles

£



COST OR VALUATION


At 30 July 2023
92,208



At 28 July 2024

92,208



DEPRECIATION


At 30 July 2023
92,208



At 28 July 2024

92,208



NET BOOK VALUE



At 28 July 2024
-



At 30 July 2023
-

Page 4


CHAPEAU TOWER BRIDGE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JULY 2024

5.


DEBTORS

28 July
30 July
2024
2023
£
£


Amounts owed by group undertakings
1,764
-

Other debtors
-
1,764

1,764
1,764



6.


CASH AND CASH EQUIVALENTS

28 July
30 July
2024
2023
£
£

Cash at bank and in hand
14,627
1,165

14,627
1,165



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28 July
30 July
2024
2023
£
£

Bank loans
36,363
36,363

Amounts owed to group undertakings
194,586
146,191

Other creditors
10,609
-

241,558
182,554



8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28 July
30 July
2024
2023
£
£

Bank loans
45,455
81,819

45,455
81,819


Page 5


CHAPEAU TOWER BRIDGE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JULY 2024

9.


LOANS


Analysis of the maturity of loans is given below:


28 July
30 July
2024
2023
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
36,363
36,363


36,363
36,363

AMOUNTS FALLING DUE 1-2 YEARS

Bank loans
36,364
36,364


36,364
36,364

AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
9,091
45,455


9,091
45,455


81,818
118,182



10.


SHARE CAPITAL

28 July
30 July
2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



2 (2023: 2) Ordinary shares of £1.00 each
2
2



11.


RESERVES

Profit and loss account

The profit and loss account includes all current and prior periods profits and losses.

Page 6


CHAPEAU TOWER BRIDGE LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 28 JULY 2024

12.


COMMITMENTS UNDER OPERATING LEASES

At 28 July 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

28 July
30 July
2024
2023
£
£


Not later than 1 year
50,000
50,000

Later than 1 year and not later than 5 years
145,833
195,833

195,833
245,833


13.


RELATED PARTY TRANSACTIONS

The Company has taken the exemption available under FRS 102 from disclosing the details of transactions between wholly owned members of the same group. There are no additional transactions and balances with other related parties.


14.


CONTROLLING PARTY

The immediate parent of the Company is Watchhouse Coffee Holdings Limited, a company incorporated in England and Wales. The ultimate controlling party is Roland Marcelin-Horne.


15.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the period ended 28 July 2024 was unqualified.

The audit report was signed on 25 April 2025 by Ria Burridge FCCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.

 
Page 7