Caseware UK (AP4) 2023.0.135 2023.0.135 12023-10-01false1managing the trading activities of its subsidiaries and related party companiesfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 3176167 2023-10-01 2024-09-30 3176167 2022-10-01 2023-09-30 3176167 2024-09-30 3176167 2023-09-30 3176167 c:Director1 2023-10-01 2024-09-30 3176167 d:CurrentFinancialInstruments 2024-09-30 3176167 d:CurrentFinancialInstruments 2023-09-30 3176167 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 3176167 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 3176167 d:ShareCapital 2024-09-30 3176167 d:ShareCapital 2023-09-30 3176167 d:RetainedEarningsAccumulatedLosses 2024-09-30 3176167 d:RetainedEarningsAccumulatedLosses 2023-09-30 3176167 c:FRS102 2023-10-01 2024-09-30 3176167 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 3176167 c:FullAccounts 2023-10-01 2024-09-30 3176167 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 3176167 6 2023-10-01 2024-09-30 3176167 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure
Registered number: 3176167





 
Civilpack Limited          
 
Financial statements          

For the year ended 30 September 2024          

 
Civilpack Limited
Registered number:3176167

Balance sheet
As at 30 September 2024


2024 

2023 
                                                                                    Note
£
£
£
£

Fixed assets
  

Investments
 4 
616,820
616,820

Current assets
  

Debtors
 5 
2,726,529
1,603,249

Cash at bank and in hand
 6 
1,072,738
956,338

  
3,799,267
2,559,587

Creditors: amounts falling due within one year
 7 
(3,320,286)
(2,361,562)

Net current assets
  
 
 
478,981
 
 
198,025

  

Net assets
  
1,095,801
814,845


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,095,701
814,745

  
1,095,801
814,845


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 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 3 March 2025.





Batuhan Isiksalan
Director


The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
Civilpack Limited
 
 
Notes to the financial statements
For the year ended 30 September 2024

1.


General information

Civilpack Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, SS11 7HQ.

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

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.

 
2.3

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Associates and Joint Ventures are held at cost less impairment.

 
2.4

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.

 
2.5

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.

 
2.6

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.

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.

Page 2

 
Civilpack Limited
 
 
Notes to the financial statements
For the year ended 30 September 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.
 

Page 3

 
Civilpack Limited
 
 
Notes to the financial statements
For the year ended 30 September 2024

2.Accounting policies (continued)


2.6
Financial instruments (continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
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.

 
2.8

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.

 
2.9

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 balance sheet date in the countries where the company operates and generates income.



3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Fixed asset investments





Investments in subsidiary companies
Investment in joint ventures
Total

£
£
£



Cost 


At 1 October 2023
19,320
597,500
616,820



At 30 September 2024
19,320
597,500
616,820




Page 4

 
Civilpack Limited
 
 
Notes to the financial statements
For the year ended 30 September 2024

5.


Debtors

2024
2023
£
£


Amounts owed by joint ventures
175,815
175,000

Other debtors
2,550,714
1,428,246

2,726,529
1,603,246


Included within other debtors due within one year is a loan to B Isiksalan, the sole director, amounting to £2,516,013 (2023 - £1,393,545). The maximum amount outstanding during the year was £2,516,013 (2023 - £1,393,545). The loan is subject to interest at the official rate. 




6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,072,738
956,338



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
3,054,278
2,211,844

Amounts owed to joint ventures
-
17,392

Amounts owed to associates
184,983
81,280

Corporation tax
77,921
48,017

Other taxation and social security
1,529
1,529

Accruals and deferred income
1,575
1,500

3,320,286
2,361,562


Page 5

 
Civilpack Limited
 
 
Notes to the financial statements
For the year ended 30 September 2024

8.


Related party transactions

During the year the company received management fees of £60,000 (2023 - £60,000) from Wayrest Limited and £40,000 (2023 - £40,000) from Prix Fixe Limited, both of which are subsidiary companies. The company also received a management fee of £40,000 (2023 - £40,000) from Sana Bana Limited, an associated company and a management fee of £25,000 (2023 - £Nil) from Make Mine Limited, a joint venture company.
At the balance sheet date the company was owed £175,000 
(2023 - £175,000) by Union Public House Limited a further joint venture company. The company was also owed £815 (2023 - £17,392 creditor) by Make Mine Limited. At the balance sheet date the company owed £1,656,104 (2023 - £1,190,994) to Wayrest Limited; £1,398,172 (2023 - £1,020,847) to Prix Fixe Limited; and £184,983 (2023 - £81,280) to Sana Bana Limited. No interest is charged on these balances.

 
Page 6