Company registration number 05477547 (England and Wales)
CANTABILE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
CANTABILE LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
CANTABILE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,799,291
1,864,956
Investments
5
36,608
43,455
1,835,899
1,908,411
Current assets
Stocks
6
2,110
2,110
Debtors
7
326,352
61,518
Cash at bank and in hand
344,355
97,834
672,817
161,462
Creditors: amounts falling due within one year
8
(850,444)
(351,867)
Net current liabilities
(177,627)
(190,405)
Total assets less current liabilities
1,658,272
1,718,006
Creditors: amounts falling due after more than one year
9
(773,465)
(887,351)
Provisions for liabilities
Deferred tax liability
43,740
55,860
(43,740)
(55,860)
Net assets
841,067
774,795
Capital and reserves
Called up share capital
370,100
370,100
Share premium account
26,927
26,927
Profit and loss reserves
444,040
377,768
Total equity
841,067
774,795
CANTABILE LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 26 August 2025 and are signed on its behalf by:
Mr G R L Fysh
Director
Company registration number 05477547 (England and Wales)
CANTABILE LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 1 August 2022
370,100
26,927
327,525
724,552
Year ended 31 July 2023:
Profit and total comprehensive income
-
-
93,743
93,743
Dividends
3
-
-
(43,500)
(43,500)
Balance at 31 July 2023
370,100
26,927
377,768
774,795
Year ended 31 July 2024:
Profit and total comprehensive income
-
-
103,772
103,772
Dividends
3
-
-
(37,500)
(37,500)
Balance at 31 July 2024
370,100
26,927
444,040
841,067
CANTABILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information

Cantabile Limited is a private company limited by shares incorporated in England and Wales. The registered office is Avenue Nursery & Prep School, 2 Highgate Avenue, London, N6 5RX.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

 

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% per annum on cost
Leasehold land and buildings
2% Per annum on cost
Plant and equipment
15% per annum on cost
Computer Equipment
33.33% per annum on cost
Motor vehicles
25% per annum on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

CANTABILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
22
22
3
Dividends
2024
2023
£
£
Final paid
37,500
43,500
CANTABILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Plant and equipment
Computer Equipment
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 August 2023
377,782
1,478,174
452,471
34,857
29,349
2,372,633
Additions
-
0
-
0
13,921
-
0
-
0
13,921
Disposals
-
0
-
0
(3,000)
-
0
-
0
(3,000)
At 31 July 2024
377,782
1,478,174
463,392
34,857
29,349
2,383,554
Depreciation and impairment
At 1 August 2023
64,953
157,473
245,797
32,117
7,337
507,677
Depreciation charged in the year
7,908
29,563
31,664
1,948
5,503
76,586
At 31 July 2024
72,861
187,036
277,461
34,065
12,840
584,263
Carrying amount
At 31 July 2024
304,921
1,291,138
185,931
792
16,509
1,799,291
At 31 July 2023
312,829
1,320,701
206,674
2,740
22,012
1,864,956
5
Fixed asset investments
2024
2023
£
£
Listed investments
11,108
43,455
Unlisted investments
25,500
-
0
36,608
43,455
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 August 2023
43,455
Valuation changes
5,880
Disposals
(12,727)
At 31 July 2024
36,608
Carrying amount
At 31 July 2024
36,608
At 31 July 2023
43,455
CANTABILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
6
Stocks
2024
2023
£
£
Raw materials and consumables
2,110
2,110
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
268,042
59,199
Other debtors
58,310
2,319
326,352
61,518
8
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
10
102,591
46,578
Obligations under finance leases
22,582
1,515
Trade creditors
158,000
181,600
Corporation tax
78,909
49,781
Other taxation and social security
11,840
14,140
Deferred income
11
460,200
-
0
Other creditors
322
44,253
Accruals
16,000
14,000
850,444
351,867
9
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
10
7,501
-
0
Obligations under finance leases
-
0
22,582
Other borrowings
10
765,964
864,769
773,465
887,351
CANTABILE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
10
Loans and overdrafts
2024
2023
£
£
Bank loans
110,092
46,150
Bank overdrafts
-
0
428
Other loans
765,964
864,769
876,056
911,347
Payable within one year
102,591
46,578
Payable after one year
773,465
864,769

The loans from Barclays Bank Plc, amounting to £858,555 (2023 - £864,769 ), shown under creditors

falling due within one year and creditors falling due after more than one year are secured by a fixed and

floating charge over the assets of the company.

 

Obligations under finance leases and hire purchase contracts are secured on the related assets.

11
Deferred income
2024
2023
£
£
Other deferred income
460,200
-
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