Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30truetruetrue2023-10-01falseNo description of principal activity55truetruefalse 09264050 2023-10-01 2024-09-30 09264050 2022-10-01 2023-09-30 09264050 2024-09-30 09264050 2023-09-30 09264050 c:Director3 2023-10-01 2024-09-30 09264050 d:MotorVehicles 2023-10-01 2024-09-30 09264050 d:MotorVehicles 2024-09-30 09264050 d:MotorVehicles 2023-09-30 09264050 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09264050 d:FurnitureFittings 2023-10-01 2024-09-30 09264050 d:FurnitureFittings 2024-09-30 09264050 d:FurnitureFittings 2023-09-30 09264050 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09264050 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 09264050 d:CurrentFinancialInstruments 2024-09-30 09264050 d:CurrentFinancialInstruments 2023-09-30 09264050 d:Non-currentFinancialInstruments 2024-09-30 09264050 d:Non-currentFinancialInstruments 2023-09-30 09264050 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 09264050 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 09264050 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 09264050 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 09264050 d:ShareCapital 2024-09-30 09264050 d:ShareCapital 2023-09-30 09264050 d:RetainedEarningsAccumulatedLosses 2024-09-30 09264050 d:RetainedEarningsAccumulatedLosses 2023-09-30 09264050 c:OrdinaryShareClass1 2023-10-01 2024-09-30 09264050 c:OrdinaryShareClass1 2024-09-30 09264050 c:OrdinaryShareClass1 2023-09-30 09264050 c:FRS102 2023-10-01 2024-09-30 09264050 c:Audited 2023-10-01 2024-09-30 09264050 c:FullAccounts 2023-10-01 2024-09-30 09264050 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 09264050 d:HirePurchaseContracts d:WithinOneYear 2024-09-30 09264050 d:HirePurchaseContracts d:WithinOneYear 2023-09-30 09264050 c:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 09264050 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-09-30 09264050 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-09-30 09264050 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09264050
















CAPITAL EQUIPMENT FINANCE LTD




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024







CAPITAL EQUIPMENT FINANCE LTD
REGISTERED NUMBER:09264050

STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 5 
52,402
80,121

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
5,037,580
4,289,612

Cash at bank and in hand
  
27,892
91,391

  
5,065,472
4,381,003

Creditors: amounts falling due within one year
 7 
(378,726)
(345,601)

NET CURRENT ASSETS
  
 
 
4,686,746
 
 
4,035,402

TOTAL ASSETS LESS CURRENT LIABILITIES
  
4,739,148
4,115,523

Creditors: amounts falling due after more than one year
 8 
-
(26,720)

  

NET ASSETS
  
4,739,148
4,088,803


CAPITAL AND RESERVES
  

Called up share capital 
 10 
1,000
1,000

Profit and loss account
  
4,738,148
4,087,803

  
4,739,148
4,088,803


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: 





J Powles
Director

Date: 31 March 2025

Page 1


CAPITAL EQUIPMENT FINANCE LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

The company is a private company, limited by shares and registered in England & Wales. The address of the registered office is Unit 4 Smoke Lane Industrial Estate, Smoke Lane, Bristol, BS11 0YA.

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 judgement in applying the Company's accounting policies (see note 3).

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 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This information is included in the consolidated financial statements of Molson Group Limited as at 30 September 2024 and these financial statements may be obtained from Unit 4, Smoke Lane Industrial Estate, Avonmouth, Bristol, BS11 0YA.

 
2.3

GOING CONCERN

At the year-end, the company had net assets of £4.7m (2023: £4.1m) and trading during the first quarter of the current financial year has been solid and lead generation continues to remain strong.
Capital Equipment Finance Limited Limited is a wholly owned subsidiary of Molson Group Limited, the ultimate parent company. At the year end, the group had net assets of £16.3m (2023: £27.8m).
The directors have prepared forecasts that show the group and company is able to realise its assets and settle its liabilities as they fall due in the normal course of business for a period of at least 12 months from the date of approval of these financial statements. Therefore these financial statements are prepared on a going concern basis.

Page 2


CAPITAL EQUIPMENT FINANCE LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 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 company is a credit broker and receives commissions for introducing applicants to finance providers. Commission revenue is recognised when the finance agreement is drawn on that the Company has brokered.  

 
2.5

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%
Straight line
Fixtures and fittings
-
25%
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.

 
2.6

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.

 
2.8

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 3


CAPITAL EQUIPMENT FINANCE LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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 reporting 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 reporting 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 reporting date.


 
2.12

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4


CAPITAL EQUIPMENT FINANCE LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

3.



JUDGEMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
There are no significant accounting estimates or judgements made within these financial statements.


4.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 5 (2023: 5).


5.


TANGIBLE FIXED ASSETS





Motor vehicles
Fixtures and fittings
Total

£
£
£



COST


At 1 October 2023
137,536
2,500
140,036



At 30 September 2024

137,536
2,500
140,036



DEPRECIATION


At 1 October 2023
58,561
1,354
59,915


Charge for the year
27,094
625
27,719



At 30 September 2024

85,655
1,979
87,634



NET BOOK VALUE



At 30 September 2024
51,881
521
52,402



At 30 September 2023
78,975
1,146
80,121

The net book value of assets held under hire purchase contracts, included above, is £98,324 (2023: £74,763), and the depreciation charged on those assets is £51,295 (2023: £25,690). 

Page 5


CAPITAL EQUIPMENT FINANCE LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


DEBTORS

2024
2023
£
£


Trade debtors
46,584
14,812

Amounts owed by group undertakings
4,978,608
4,262,386

Other debtors
11,588
-

Prepayments and accrued income
800
1,655

Deferred taxation
-
10,759

5,037,580
4,289,612


Amounts owed by group undertakings are unsecured and repayable on demand. 


7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
26,095
-

Amounts owed to group undertakings
119,314
89,046

Corporation tax
197,959
212,239

Other taxation and social security
597
12,826

Obligations under finance lease and hire purchase contracts
25,661
26,713

Other creditors
1,180
817

Accruals and deferred income
7,920
3,960

378,726
345,601


Amounts owed to group undertakings are unsecured and repayable on demand. 


8.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
-
26,720

-
26,720


Page 6


CAPITAL EQUIPMENT FINANCE LTD

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

9.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
25,661
26,713

Between 1-2 years
-
26,720

25,661
53,433


10.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,000 (2023: 1,000) Ordinary shares of £1.00 each
1,000
1,000



11.


PENSION COMMITMENTS

The company participates in a defined contribution 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 £5,345 (2023: £5,006). At the year end there was outstanding contributions of £1,180 (2023: £817).


12.


CONTROLLING PARTY

Capital Equipment Finance Ltd is a 100% owned subsidiary of Molson Group Limited, a Company incorporated in England and Wales. There is no ultimate controlling party.


13.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 September 2024 was unqualified.

The audit report was signed on 31 March 2025 by Ria Burridge FCCA (Senior statutory auditor) on behalf of Bishop Fleming Bath Limited.

 
Page 7