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Registration number: 04985501

Caruso (UK) Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 December 2024

Caruso (UK) Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 8

Caruso (UK) Limited

Company Information

Director | Mr Paul Andrew Gravatt

Registered office | Maranello Watch House Green Felsted Essex CM6 3EF

Accountants | Accentis Limited Parallel House 32 London Road Guildford GU1 2AB

Caruso (UK) Limited

(Registration number: 04985501)
Balance Sheet as at 31 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | - | 439
Current assets |  |  |
Debtors | 5 | 231,268 | 192,370
Cash at bank and in hand |  | 13,869 | 17,801
|  | 245,137 | 210,171
Creditors: Amounts falling due within one year | 6 | (219,539) | (155,283)
Net current assets |  | 25,598 | 54,888
Total assets less current liabilities |  | 25,598 | 55,327
Creditors: Amounts falling due after more than one year | 6 | - | (15,205)
Net assets |  | 25,598 | 40,122
Capital and reserves |  |  |
Called up share capital | 7 | 21 | 21
Retained earnings |  | 25,577 | 40,101
Shareholders' funds |  | 25,598 | 40,122

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

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 8 August 2025

......................................... Mr Paul Andrew Gravatt Director

Caruso (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Maranello
Watch House Green
Felsted
Essex
CM6 3EF

These financial statements were authorised for issue by the director on 8 August 2025.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Fixtures, fittings and equipment | 25% reducing balance

Caruso (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Caruso (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

Caruso (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4 | Tangible assets

| Furniture, fittings and equipment £ | Total £
Cost or valuation
At 1 January 2024 | 40,634 | 40,634
At 31 December 2024 | 40,634 | 40,634
Depreciation
At 1 January 2024 | 40,195 | 40,195
Charge for the year | 439 | 439
At 31 December 2024 | 40,634 | 40,634
Carrying amount
At 31 December 2024 | - | -
At 31 December 2023 | 439 | 439

5 | Debtors

Current | 2024 £ | 2023 £
Trade debtors | 56,000 | 46,115
Other debtors | 175,268 | 146,255
| 231,268 | 192,370

6 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 8 | 15,205 | 10,239
Trade creditors |  | 195,084 | 134,612
Taxation and social security |  | - | 1,182
Accruals and deferred income |  | 9,250 | 9,250
|  | 219,539 | 155,283

Creditors: amounts falling due after more than one year

Caruso (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 8 | - | 15,205

7 | Share capital

Allotted, called up and fully paid shares

| 2024 | 2023
| No. | £ | No. | £
Ordinary shares of £1 each | 1 | 1 | 1 | 1
Ordinary A shares of £1 each | 10 | 10 | 10 | 10
Ordinary B shares of £1 each | 10 | 10 | 10 | 10
| 21 | 21 | 21 | 21

8 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | - | 15,205

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 15,205 | 10,239

9 | Related party transactions

Caruso (UK) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Director's remuneration

The director's remuneration for the year was as follows:

| 2024 £ | 2023 £
Contributions paid to money purchase schemes | 9,000 | 49,000

Loans to related parties

2023 | Key management £ | Total £
At start of period | 133,742 | 133,742
Advanced | 45,000 | 45,000
Repaid | (178,742) | (178,742)
At end of period | - | -