Company No: 10477147 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Investments	3	102		102
		102		102
Current assets
Debtors	4	215,084		192,085
Cash at bank and in hand		1,512		15,593
		216,596		207,678
Creditors: amounts falling due within one year	5	( 173,180)		( 202,493)
Net current assets		43,416		5,185
Total assets less current liabilities		43,518		5,287
Net assets		43,518		5,287
Capital and reserves
Called-up share capital	6	11		11
Share premium account		6,163		6,163
Capital redemption reserve		2		2
Profit and loss account		37,342		( 889 )
Total shareholders' funds		43,518		5,287

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 financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Cavalier Holdings Limited (registered number: 10477147) were approved and authorised for issue by the Director on 15 September 2025. They were signed on its behalf by:

Mr P D Cavalier-White Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cavalier Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 17-19 A30bc Higher Stockley Mead, Okehampton, EX20 1BG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	14		21

3. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	102
At 31 December 2024	102
Carrying value at 31 December 2024	102
Carrying value at 31 December 2023	102

At the balance sheet date the company had invested in the ordinary share capital of the following subsidiary undertakings:

Modular Cubed Limited - 100%
Sensicon Limited - 100%

4. Debtors

	2024		2023
	£		£
Amounts owed by Group undertakings	112,701		14,997
Amounts owed by connected companies	10,000		0
Amounts owed by director	0		14,582
Prepayments	61,925		63,758
Other debtors	30,458		98,748
	215,084		192,085

5. Creditors: amounts falling due within one year

	2024		2023
	£		£
Trade creditors	86,283		68,202
Amounts owed to Group undertakings	100		100
Amounts owed to director	698		0
Accruals	3,000		3,000
Taxation and social security	80,866		128,213
Other creditors	2,233		2,978
	173,180		202,493

6. Called-up share capital

	2024		2023
	£		£
Allotted, called-up and fully-paid
70,000 Ordinary shares of £ 0.0001 each	7.00		7.00
20,000 Ordinary A shares of £ 0.0001 each	2.00		2.00
10,000 Ordinary C shares of £ 0.0001 each	1.00		1.00
5,870 Ordinary B shares of £ 0.0001 each	0.59		0.59
	10.59		10.59

7. Related party transactions

Transactions with the entity's director

	2024		2023
	£		£
Amounts owed (to)/from directors	(698)		14,582

Interest is charged on the loan to directors, when overdrawn, at HMRC approved rates of 2.25%. There is no fixed date of repayment.

Other related party transactions

	2024		2023
	£		£
Amount owed by JP Concrete Limited	28,555		96,848
Amounts owed by a connected company	10,000		0

During the year, the Company was owed a balance of £28,555 (2023: £96,848) which is included in other debtors. In the prior year, the company disposed of its 100% shareholding in JP Concrete Products Limited.

As a parent company of wholly owned subsidiary undertakings, the company has taken advantage of the exemption in paragraph 1AC.35 of FRS102 in not disclosing intra group transactions where 100% of the voting rights are controlled within the group.