Caseware UK (AP4) 2024.0.164 2024.0.164 2024-10-312024-10-312025-05-27true122023-11-01false12trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02033104 2023-11-01 2024-10-31 02033104 2022-11-01 2023-10-31 02033104 2024-10-31 02033104 2023-10-31 02033104 2022-11-01 02033104 c:Director1 2023-11-01 2024-10-31 02033104 d:Buildings 2023-11-01 2024-10-31 02033104 d:Buildings 2024-10-31 02033104 d:Buildings 2023-10-31 02033104 d:Buildings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02033104 d:PlantMachinery 2023-11-01 2024-10-31 02033104 d:MotorVehicles 2023-11-01 2024-10-31 02033104 d:FurnitureFittings 2023-11-01 2024-10-31 02033104 d:OfficeEquipment 2023-11-01 2024-10-31 02033104 d:OtherPropertyPlantEquipment 2023-11-01 2024-10-31 02033104 d:OtherPropertyPlantEquipment 2024-10-31 02033104 d:OtherPropertyPlantEquipment 2023-10-31 02033104 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02033104 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 02033104 d:CurrentFinancialInstruments 2024-10-31 02033104 d:CurrentFinancialInstruments 2023-10-31 02033104 d:Non-currentFinancialInstruments 2024-10-31 02033104 d:Non-currentFinancialInstruments 2023-10-31 02033104 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 02033104 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 02033104 d:Non-currentFinancialInstruments d:AfterOneYear 2024-10-31 02033104 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 02033104 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-10-31 02033104 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 02033104 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-10-31 02033104 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-10-31 02033104 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-10-31 02033104 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-10-31 02033104 d:ShareCapital 2024-10-31 02033104 d:ShareCapital 2023-10-31 02033104 d:SharePremium 2024-10-31 02033104 d:SharePremium 2023-10-31 02033104 d:RetainedEarningsAccumulatedLosses 2024-10-31 02033104 d:RetainedEarningsAccumulatedLosses 2023-10-31 02033104 c:OrdinaryShareClass1 2023-11-01 2024-10-31 02033104 c:OrdinaryShareClass1 2024-10-31 02033104 c:OrdinaryShareClass1 2023-10-31 02033104 c:FRS102 2023-11-01 2024-10-31 02033104 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 02033104 c:FullAccounts 2023-11-01 2024-10-31 02033104 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 02033104 d:WithinOneYear 2024-10-31 02033104 d:WithinOneYear 2023-10-31 02033104 d:BetweenOneFiveYears 2024-10-31 02033104 d:BetweenOneFiveYears 2023-10-31 02033104 2 2023-11-01 2024-10-31 02033104 6 2023-11-01 2024-10-31 02033104 d:AcceleratedTaxDepreciationDeferredTax 2024-10-31 02033104 d:AcceleratedTaxDepreciationDeferredTax 2023-10-31 02033104 e:PoundSterling 2023-11-01 2024-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02033104









CAMBRIDGE CIRCUIT COMPANY LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
REGISTERED NUMBER: 02033104

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
268,301
298,829

Investments
 5 
28,802
26,482

  
297,103
325,311

Stocks
 6 
31,650
34,075

Debtors: amounts falling due after more than one year
 7 
160,465
160,465

Debtors: amounts falling due within one year
 7 
319,323
360,170

Cash at bank and in hand
  
260,740
227,543

  
772,178
782,253

Creditors: amounts falling due within one year
 8 
(129,190)
(123,017)

Net current assets
  
 
 
642,988
 
 
659,236

Total assets less current liabilities
  
940,091
984,547

Creditors: amounts falling due after more than one year
 9 
(42,301)
(45,719)

Provisions for liabilities
  

Deferred tax
  
(47,284)
(53,909)

Net assets
  
850,506
884,919


Capital and reserves
  

Called up share capital 
 12 
20,000
20,000

Share premium account
  
58
58

Profit and loss account
  
830,448
864,861

  
850,506
884,919


Page 1

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
REGISTERED NUMBER: 02033104

BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

The directors consider 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 directors acknowledge their 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 by: 






................................................
Mr G Sanford
Director

Date: 27 May 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Cambridge Circuit Company Limited is a private Company limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is 4 Winship Road, Milton, Cambridge, CB24 6BQ. This Company is part of a group. The Company will be taking the small companies exemption to not prepare consolidated accounts.

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 judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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.

Page 3

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.3

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:

Freehold property
-
2% straight line
Plant and machinery
-
10%-33% straight line
Motor vehicles
-
20% straight line
Fixtures and fittings
-
10%-33% straight line
Office equipment
-
10%-33% 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.

 
2.4

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Stocks and work in progress

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 weighted average basis. Work in progress and finished goods include labour and attributable overheads.

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.

 
2.6

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.

 
2.7

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.

Page 4

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

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.

Page 5

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Interest income

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

Page 6

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.16

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.17

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.18

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 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.



3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2023 - 12).

Page 7

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Freehold property
Other fixed assets
Total

£
£
£



Cost


At 1 November 2023
146,224
1,204,343
1,350,567


Additions
-
11,252
11,252



At 31 October 2024

146,224
1,215,595
1,361,819



Depreciation


At 1 November 2023
88,338
963,400
1,051,738


Charge for the year on owned assets
2,924
38,856
41,780



At 31 October 2024

91,262
1,002,256
1,093,518



Net book value



At 31 October 2024
54,962
213,339
268,301



At 31 October 2023
57,886
240,943
298,829


5.


Fixed asset investments





Listed investments

£



Cost


At 1 November 2023
26,482


Revaluations
2,320



At 31 October 2024
28,802





6.


Stocks and work in progress

2024
2023
£
£

Work in progress (goods to be sold)
7,001
3,076

Finished goods and goods for resale
24,649
30,999

31,650
34,075


Page 8

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
160,465
160,465


2024
2023
£
£

Due within one year

Trade debtors
139,748
182,863

Amounts owed by group undertakings
160,000
160,000

Other debtors
7,593
2,516

Prepayments
11,982
14,791

319,323
360,170



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
7,380
7,380

Trade creditors
68,035
65,936

Corporation tax
12,790
7,327

Other taxation and social security
25,516
28,514

Accruals
15,469
13,860

129,190
123,017



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
42,301
45,719


Included within creditors are secured debts amounting to £49,681 (2023 - £53,099) which are secured via a fixed and floating charge on the Company’s assets.

Page 9

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
7,380
7,380

Amounts falling due 1-2 years

Bank loans
7,380
7,380

Amounts falling due 2-5 years

Bank loans
22,140
22,140

Amounts falling due after more than 5 years

Bank loans
12,781
16,199

49,681
53,099



11.


Deferred taxation




2024
2023


£

£






At beginning of year
(53,909)
(23,469)


Charged to profit or loss
6,625
(30,440)



At end of year
(47,284)
(53,909)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(47,284)
(53,909)

Page 10

 
CAMBRIDGE CIRCUIT COMPANY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



20,000 (2023 - 20,000) Ordinary shares of £1.00 each
20,000
20,000



13.


Pension commitments

The Company operated a defined contributions pension scheme. The assets of the scheme are held seperately 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 £19,386 (2023 - £40,568). No contributions (2023 - £Nil) were payable to the fund at the balance sheet date.


14.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
13,199
13,199

Later than 1 year and not later than 5 years
13,742
26,941

26,941
40,140


15.


Transactions with directors

At 1 November 2023 the directors owed the Company £926. Mr M Sanford's account saw a net increase of £1,400 within the year. At 31 October 2024 £2,326 was owed to the Company, some of which has subsequently been repaid, S455 tax has been charged on the balance not paid within 9 months of the year end. This loan is interest free and repayable on demand. 


16.


Related party transactions

The Company has taken advantage of the exemptions in FRS 102 section 1A whereby it has not disclosed transactions with wholly owned subsidiary undertakings. 


17.


Controlling party

The Company is a wholly owned subsidiary of Cambridge Circuit (Holdings) Limited, a company registered in England and Wales. The registered office of the parent company is 4 Winship Road, Milton, Cambridge, Cambridgeshire, CB24 6BQ.


Page 11