Registrar

Registration number: 10553832

Cavalex Models Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Cavalex Models Limited

Company Information

Directors

A D Perkins C A Millward

Registered office

2 Hazel Avenue (Off London Rd) Black Notley Braintree Essex CM77 8GD

Bankers

Lloyds Bank PLC 1 Legg Street Chelmsford Essex CM1 1JS

Accountants

Lambert Chapman LLP Chartered accountants 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Cavalex Models Limited

(Registration number: 10553832)
Balance Sheet as at 31 January 2025

	Note	31 January 2025 £	(As restated) 31 January 2024 £
Fixed assets
Tangible assets	4	233,152	191,979
Current assets
Stocks	5	19,580	29,545
Debtors	6	407,762	276,218
Cash at bank and in hand		149,505	119,859
		576,847	425,622
Creditors: Amounts falling due within one year	7	(518,876)	(377,925)
Net current assets		57,971	47,697
Total assets less current liabilities		291,123	239,676
Provisions for liabilities		(58,288)	(47,995)
Net assets		232,835	191,681
Capital and reserves
Called up share capital	8	100	100
Retained earnings		232,735	191,581
Shareholders' funds		232,835	191,681

For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 October 2025 and signed on its behalf by:

A D Perkins
Director

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

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

These financial statements were authorised for issue by the Board on 31 October 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.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Prior period errors

In the prior year, costs had incorrectly been capitalised when they should have been treated as revenue expenditure and carried forward to the current year. As a result these costs have been reclassified between non current assets and current assets in the prior year.

Upon transition from FRS 105 to FRS 102 section 1A in the prior year there was no restatement of 2023 for the inclusion of deferred taxation. This has been rectified in the current year and the adjustments can be seen below.

	Relating to the current period disclosed in these financial statements £	Relating to the prior period disclosed in these financial statements £	Relating to periods before the prior period disclosed in these financial statements £
Plant & Machinery additions	-	(18,428)	-
Prepayments	18,428	18,428	-
Plant & Machinery cost b/f	(18,428)	-	-
Deferred Taxation movement for the year	-	(6,120)	31,571
Retained Earnings for the year	-	6,120	(31,571)
Deferred Taxation b/f	25,451	31,571	-
Retained Earnings brought forward	(25,451)	(31,571)	-

Page 3

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of train models in the ordinary course of the company’s activities. Turnover is shown net of 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.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant & Machinery	33% straight line
Office equipment	33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 2).

4	Tangible assets

	Office equipment  £	Plant and Machinery £	Total £
Cost or valuation
At 1 February 2024 (As restated)	1,357	329,712	331,069
Additions	-	83,160	83,160
At 31 January 2025	1,357	412,872	414,229
Depreciation
At 1 February 2024 (As restated)	896	138,194	139,090
Charge for the year	447	41,540	41,987
At 31 January 2025	1,343	179,734	181,077
Carrying amount
At 31 January 2025	14	233,138	233,152
At 31 January 2024 (As restated)	461	191,518	191,979

5

Stocks

	31 January 2025 £	31 January 2024 £
Stocks	19,580	29,545

Cavalex Models Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Debtors

	31 January 2025 £	(As restated) 31 January 2024 £
Trade debtors	219,326	173,467
Prepayments and deferred costs	188,436	102,751
	407,762	276,218

7

Creditors

Creditors: amounts falling due within one year

	31 January 2025 £	31 January 2024 £
Due within one year
Trade creditors	572	482
Other creditors	10,676	7,605
Taxation and social security	114,384	66,629
Accruals and deferred income	393,244	303,209
	518,876	377,925

8	Share capital

Allotted, called up and fully paid shares

	31 January 2025		31 January 2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100