REGISTERED NUMBER: 01130951 (England and Wales)

STRATEGIC REPORT, DIRECTOR'S REPORT AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CASNA LIMITED

Page

Company Information

1

Strategic Report

2

Director's Report

3

Director's Responsibilities Statement

4

Independent Auditors' Report

5

Profit and loss account

9

Statement of comprehensive income

10

Balance Sheet

11

Statement of Changes in Equity

12

Cash Flow Statement

13

Notes to the Cash Flow Statement

14

Notes to the Financial Statements

15

DIRECTOR:

N P Appell

REGISTERED OFFICE:

32 Holmes Road

Kentish Town

London

NW5 3AB

REGISTERED NUMBER:

01130951 (England and Wales)

AUDITORS:

MGR Weston Kay LLP

55 Loudoun Road

St John's Wood

London

NW8 0DL

The director presents his strategic report for the year ended 31 December 2024.

Review of the business

The company's turnover decreased by 13.4% (2023: decreased by 1.0%) during the year under review. The company's direct costs, which are dominated by wage costs, decreased by 10.7% (2023: increased by 4.1%) and the administrative expenses decreased by 9.7% (2023: increased by 19.8%). The director is satisfied with the results for the year and the company's future trading prospects.

Principal risks and uncertainties

Casna's principal business is the provision and management of cleaning staff to high-end London hotels and is therefore sensitive to both the supply of labour and to the health of London's luxury hospitality market. Although there is pressure on both, Casna is well positioned to thrive in the coming years through a focus on resourcing and retention of high calibre staff and close partnership with our clients.

Development and performance

In the opinion of the directors, the company was in a strong position at the year end with the net assets and shareholders' funds of £1.80m (2023: £2.26m) at the year end.

Key performance indicators

Casna constantly monitors Gross Margin at the department and individual contract level. The business also reviews the overhead ratio regularly. Casna's KPIs focus on employee metrics such as staff engagement and turnover.

ON BEHALF OF THE BOARD:

N P Appell - Director

24 July 2025

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The principal activity of the company continued to be that of a cleaning company.

DIVIDENDS

Ordinary dividends were paid amounting to £781,480 (2023: £324,700). The director does not recommend payment of a final dividend.

FUTURE DEVELOPMENTS

Casna plans to continue its steady growth in it's core business and expansion into Events and Housekeeping. We are committed to continually improving productivity through technology and improved people management.

DIRECTOR

N P Appell held office during the whole of the period from 1 January 2024 to the date of this report.

FINANCIAL INSTRUMENTS

The company has a normal level of exposure to price, credit, liquidity and cash flow risk arising from trading activities which are only conducted in sterling. The company does not enter into any lending transactions.

DISABLED PERSONS

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

EMPLOYEE INVOLVEMENT

The company's policy is to consult and discuss with employees, through company conferences and at meetings, matters likely to affect employees' interests.

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance.

AUDITORS

The auditor, MGR Weston Kay LLP, is deemed to be reappointed under the section 487(2) of the Companies Act 2006.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as each Person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company's auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company's auditor is aware of that information.

ON BEHALF OF THE BOARD:

N P Appell - Director

24 July 2025

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Opinion

We have audited the financial statements of Casna Limited (the 'company') for the year ended 31 December 2024 which comprise the Profit and loss account, Statement of comprehensive income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The director is responsible for the other information. The other information comprises the information in the Strategic Report, the Director's Report and the Director's Responsibilities Statement, but does not include the financial statements and our Auditors' Report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Director's Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of director's remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

As part of our planning of the audit work required, we obtained an understanding of the legal and regulatory frameworks that are applicable to the entity via enquiries of the company's management, carried out analytical procedures, held discussions amongst the engagement team and using knowledge of the sector determined that the most significant laws and regulations are those that relate to:

• Health and Safety regulations

• Employment law including right to work in the UK.

• Data Protection Laws (GDPR).

• UK tax legislation.

We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as FRS102 and the Companies Act 2006.

Based on the results of our risk assessment we designed our audit procedure to identify non-compliance with the laws and regulations and the fraud risks identified. This included enquiries with management to understand their policies and procedures for compliance with those regulations and we completed the following tests:

• Obtained and understanding of relevant controls.

• Reviewed the company's risks assessments, procedures, health and safety policies and communications with employees.

• Checked sample of documentation.

• Reviewed the records for evidence of complaints or litigation.

We also assessed the risks of material misstatement in respect of fraud as follows:

• Revenue fraud.

• Unauthorised expenditure and/or payments.

• Management override of controls.

• Related party fraud.

Based on the results of our risk assessment we designed our audit procedures to identify and to address material misstatements in relation to fraud, This included the risk of management bias and the risk of making inappropriate accounting entries.

No significant issues were identified during our testing.

There are inherent limitations in the audit procedures described above and the primary responsibility for the prevention and detection of irregularities including fraud rests with management. As with any audit, there remained a risk of non-detection of irregularities, as these may involve collusions, forgery, intentional omissions, misrepresentations or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Nigel Walfisz FCA (Senior Statutory Auditor)

for and on behalf of MGR Weston Kay LLP

55 Loudoun Road

St John's Wood

London

NW8 0DL

22 September 2025

TURNOVER

4

10,708,590

12,364,594

Cost of sales

(8,327,249

)

(9,451,672

)

GROSS PROFIT

2,381,341

2,912,922

Administrative expenses

(1,980,985

)

(2,194,065

)

OPERATING PROFIT

7

400,356

718,857

Interest receivable and similar income

8

51,518

35,092

PROFIT BEFORE TAXATION

451,874

753,949

Tax on profit

9

(126,361

)

(278,866

)

PROFIT FOR THE FINANCIAL YEAR

325,513

475,083

PROFIT FOR THE YEAR

325,513

475,083

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

325,513

475,083

FIXED ASSETS

Intangible assets

11

-

-

Tangible assets

12

726,619

736,245

726,619

736,245

CURRENT ASSETS

Stocks

13

20,277

20,277

Debtors

14

1,057,080

1,690,545

Cash at bank

1,692,396

1,854,261

2,769,753

3,565,083

CREDITORS

Amounts falling due within one year

15

(1,579,304

)

(1,911,419

)

NET CURRENT ASSETS

1,190,449

1,653,664

TOTAL ASSETS LESS CURRENT LIABILITIES

1,917,068

2,389,909

PROVISIONS FOR LIABILITIES

17

(114,286

)

(131,160

)

NET ASSETS

1,802,782

2,258,749

CAPITAL AND RESERVES

Called up share capital

18

510

510

Capital redemption reserve

490

490

Retained earnings

1,801,782

2,257,749

SHAREHOLDERS' FUNDS

1,802,782

2,258,749

The financial statements were approved by the director and authorised for issue on 24 July 2025 and were signed by:

N P Appell - Director

Called up

Capital

share

Retained

redemption

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 January 2023

510

2,107,366

490

2,108,366

Changes in equity

Total comprehensive income

-

475,083

-

475,083

Dividends

-

(324,700

)

-

(324,700

)

Balance at 31 December 2023

510

2,257,749

490

2,258,749

Changes in equity

Total comprehensive income

-

325,513

-

325,513

Dividends

-

(781,480

)

-

(781,480

)

Balance at 31 December 2024

510

1,801,782

490

1,802,782

Cash flows from operating activities

Cash generated from operations

1

846,303

669,486

Tax paid

(171,517

)

(254,345

)

Net cash from operating activities

674,786

415,141

Cash flows from investing activities

Purchase of tangible fixed assets

(106,689

)

(228,095

)

Sale of tangible fixed assets

-

7,500

Interest received

51,518

35,092

Net cash from investing activities

(55,171

)

(185,503

)

Cash flows from financing activities

Equity dividends paid

(781,480

)

(324,700

)

Net cash from financing activities

(781,480

)

(324,700

)

Decrease in cash and cash equivalents

(161,865

)

(95,062

)

Cash and cash equivalents at beginning of year

2

1,854,261

1,949,323

Cash and cash equivalents at end of year

2

1,692,396

1,854,261

1.	RECONCILIATION OF PROFIT FOR THE FINANCIAL YEAR TO CASH GENERATED FROM OPERATIONS

31.12.24

31.12.23

£

£

Profit for the financial year

325,513

475,083

Depreciation charges

116,315

95,827

Profit on disposal of fixed assets

-

(3,302

)

Finance income

(51,518

)

(35,092

)

Taxation

126,361

278,866

516,671

811,382

Decrease in trade and other debtors

633,465

220,462

Decrease in trade and other creditors

(303,833

)

(362,358

)

Cash generated from operations

846,303

669,486

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024

31.12.24

1.1.24

£

£

Cash and cash equivalents

1,692,396

1,854,261

Year ended 31 December 2023

31.12.23

1.1.23

£

£

Cash and cash equivalents

1,854,261

1,949,335

Bank overdrafts

-

(12

)

1,854,261

1,949,323

3.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.24

Cash flow

At 31.12.24

£

£

£

Net cash

Cash at bank

1,854,261

(161,865

)

1,692,396

1,854,261

(161,865

)

1,692,396

Total

1,854,261

(161,865

)

1,692,396

1.	STATUTORY INFORMATION

Casna Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

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:

Leasehold land and buildings

20% straight line

Plant and machinery

20% straight line

Fixtures, fittings and equipment

10% straight line

Motor vehicles

20% reducing balance

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.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

3.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the company’s accounting policies, the director required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no critical accounting judgments or key sources of estimation uncertainty.

4.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by class of business is given below:

31.12.24

31.12.23

£

£

Cleaning

10,708,590

12,364,594

10,708,590

12,364,594

An analysis of turnover by geographical market is given below:

31.12.24

31.12.23

£

£

United Kingdom

10,708,590

12,364,594

10,708,590

12,364,594

5.	EMPLOYEES AND DIRECTORS

31.12.24

31.12.23

£

£

Wages and salaries

8,032,210

9,302,874

Social security costs

663,965

751,584

Other pension costs

146,889

168,953

8,843,064

10,223,411

The average number of employees during the year was as follows:

31.12.24

31.12.23

Cleaning and administration staff

368

457

6.	DIRECTORS' EMOLUMENTS

31.12.24

31.12.23

£

£

Director's remuneration

124,485

104,238

7.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24

31.12.23

£

£

Other operating leases

97,332

98,366

Depreciation - owned assets

116,315

95,827

Profit on disposal of fixed assets

-

(3,302

)

Audit fees

25,500

15,500

Non-audit services

2,609

8,551

8.

INTEREST RECEIVABLE AND SIMILAR INCOME

31.12.24

31.12.23

£

£

Bank account interest

51,518

35,092

9.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31.12.24

31.12.23

£

£

Current tax:

UK corporation tax

143,235

192,784

Prior period adjustments

-

(18,971

)

Total current tax

143,235

173,813

Deferred tax

(16,874

)

105,053

Tax on profit

126,361

278,866

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31.12.24

31.12.23

£

£

Profit before tax

451,874

753,949

Profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 25%)

112,969

188,487

Effects of:

Expenses not deductible for tax purposes

28,559

25,277

Capital allowances in excess of depreciation

-

(8,854

)

Depreciation in excess of capital allowances

1,707

-

Adjustments to tax charge in respect of previous periods

-

(18,971

)

Effect of change in corporation tax rate

-

(12,126

)

Deferred tax

(16,874

)

105,053

Total tax charge

126,361

278,866

10.

DIVIDENDS

31.12.24

31.12.23

£

£

Interim

781,480

324,700

11.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

139,729

AMORTISATION

At 1 January 2024

and 31 December 2024

139,729

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-