Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falseThe principal activity of the company is that of sales of art work11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10063422 2023-04-01 2024-03-31 10063422 2022-04-01 2023-03-31 10063422 2024-03-31 10063422 2023-03-31 10063422 c:Director1 2023-04-01 2024-03-31 10063422 d:OfficeEquipment 2023-04-01 2024-03-31 10063422 d:OfficeEquipment 2024-03-31 10063422 d:OfficeEquipment 2023-03-31 10063422 d:ComputerEquipment 2023-04-01 2024-03-31 10063422 d:ComputerEquipment 2024-03-31 10063422 d:ComputerEquipment 2023-03-31 10063422 d:CurrentFinancialInstruments 2024-03-31 10063422 d:CurrentFinancialInstruments 2023-03-31 10063422 d:Non-currentFinancialInstruments 2024-03-31 10063422 d:Non-currentFinancialInstruments 2023-03-31 10063422 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10063422 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10063422 d:ShareCapital 2024-03-31 10063422 d:ShareCapital 2023-03-31 10063422 d:RetainedEarningsAccumulatedLosses 2024-03-31 10063422 d:RetainedEarningsAccumulatedLosses 2023-03-31 10063422 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 10063422 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 10063422 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10063422 c:OrdinaryShareClass1 2024-03-31 10063422 c:OrdinaryShareClass1 2023-03-31 10063422 c:FRS102 2023-04-01 2024-03-31 10063422 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10063422 c:FullAccounts 2023-04-01 2024-03-31 10063422 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10063422 d:WithinOneYear 2024-03-31 10063422 d:WithinOneYear 2023-03-31 10063422 d:BetweenOneFiveYears 2024-03-31 10063422 d:BetweenOneFiveYears 2023-03-31 10063422 2 2023-04-01 2024-03-31 10063422 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10063422









AUGUSTA EDWARDS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
AUGUSTA EDWARDS LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 8


 
AUGUSTA EDWARDS LTD
REGISTERED NUMBER: 10063422

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Tangible assets
 4 
-
-

  
-
-

Current assets
  

Stocks
 5 
917,608
860,686

Debtors: amounts falling due after more than one year
 6 
3,268
3,268

Debtors: amounts falling due within one year
 6 
57,422
89,546

Cash at bank and in hand
 7 
46,324
264,429

  
1,024,622
1,217,929

Creditors: amounts falling due within one year
 8 
(1,709,116)
(1,721,590)

Net current liabilities
  
 
 
(684,494)
 
 
(503,661)

Total assets less current liabilities
  
(684,494)
(503,661)

  

Net liabilities
  
(684,494)
(503,661)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(684,594)
(503,761)

  
(684,494)
(503,661)


Page 1

 
AUGUSTA EDWARDS LTD
REGISTERED NUMBER: 10063422
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 her 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 profit and loss account 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: 




................................................
M A Edwards
Director

Date: 16 July 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
AUGUSTA EDWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Augusta Edwards Ltd is a private company, limited by shares, incorporated in England and Wales with registration number 10063422. The registered office address is Eighth Floor, 6 New Street Square, New Fetter Lane, London, EC4A 3AQ.

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

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the forseeable future. The company expects the continued support of the shareholder, who has confirmed that she will provide such financial support as is necessary for the company to meet its liabilities as they fall due and continue in operation for a period of at least twelve months from the date of signing these financial statements.

 
2.3

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.

 
2.4

Turnover

Turnover comprises revenue recognised by the company in respect of sale of artwork and commission receivable during the period, exclusive of VAT and discounts.
Turnover 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. 

Page 3

 
AUGUSTA EDWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Interest income

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

 
2.7

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:

Office equipment
-
25%
Computer equipment
-
33%

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.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes the cost of acquiring the artwork.
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 the Profit and Loss Account. 

 
2.9

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.

 
2.10

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

 
AUGUSTA EDWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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.
 

 
2.12

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 receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

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

Page 5

 
AUGUSTA EDWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost 


At 1 April 2023
4,290
2,330
6,620



At 31 March 2024

4,290
2,330
6,620



Depreciation


At 1 April 2023
4,290
2,330
6,620



At 31 March 2024

4,290
2,330
6,620



Net book value



At 31 March 2024
-
-
-



At 31 March 2023
-
-
-


5.


Stocks

2024
2023
£
£

Works of art
917,608
860,686


Page 6

 
AUGUSTA EDWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
3,268
3,268


2024
2023
£
£

Due within one year

Trade debtors
5,901
17,451

Other debtors
12,947
15,295

Prepayments and accrued income
38,574
56,800

57,422
89,546



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
46,324
264,429



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
20,797
49,050

Other creditors
1,679,859
1,645,696

Accruals and deferred income
8,460
26,844

1,709,116
1,721,590


Page 7

 
AUGUSTA EDWARDS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
46,324
264,429




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand. 


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



11.


Commitments under operating leases

At 31 March 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
32,683
16,342

Later than 1 year and not later than 5 years
15,939
-

48,622
16,342

 
Page 8