Caviste Limited


Director	Mark Bedford


Registered Address	Caviste Ltd Unit 2, Newlyns Farm
	North Warnborough
	Hook
	RG29 1HA


Registered Number	09845090 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

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

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Plant and machinery	10
	Vehicles	4
	Office Equipment	3

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	9		10

3.	Intangible assets

	Goodwill	Total
	£	£
Cost or valuation
At 01 April 25	80,492	80,492
At 31 March 26	80,492	80,492
Amortisation and impairment
At 01 April 25	71,774	71,774
Charge for year	8,049	8,049
At 31 March 26	79,823	79,823
Net book value
At 31 March 26	669	669
At 31 March 25	8,718	8,718

4.	Tangible fixed assets

	Plant & machinery	Vehicles	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 April 25	145,064	20,671	26,787	192,522
Additions	-	-	5,293	5,293
Disposals	(5,810)	-	-	(5,810)
At 31 March 26	139,254	20,671	32,080	192,005
Depreciation and impairment
At 01 April 25	88,944	20,671	26,508	136,123
Charge for year	11,645	-	750	12,395
At 31 March 26	100,589	20,671	27,258	148,518
Net book value
At 31 March 26	38,665	-	4,822	43,487
At 31 March 25	56,120	-	279	56,399

5.	Stocks

	2026	2025
	£	£
Payments on account, stocks	465,966	424,338
Total	465,966	424,338

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	(6,110)	10,087
Other debtors	2,875	5,258
Prepayments and accrued income	26,531	22,928
Total	23,296	38,273

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	204,306	212,888
Bank borrowings and overdrafts	2,638	4,428
Taxation and social security	46,646	49,098
Other creditors	144,087	140,696
Accrued liabilities and deferred income	26,492	55
Total	424,169	407,165

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Other creditors	28,889	72,221
Total	28,889	72,221

9.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	8,390	12,372
Total	8,390	12,372

10.	Directors advances, credits and guarantees
	At the start of the year the company owed the director £96,250. During the year £1 was paid into the company, leaving a balance due to the director of £96,251 at the year-end. There are no set repayment or interest terms.

11.	Prior period policy changes
	These are the company's first financial statements prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The previous financial statements were prepared in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime. The date of transition to FRS 102 was 1 April 2024. In preparing these financial statements, the company has applied FRS 102 Section 35 - First-time Adoption of this Financial Reporting Standard. Comprehensive figures for the year ended 31 March 2025 have been restated accordingly. On transition to FRS 102, the company recognised deferred taxation in respect of timing differences arising on tangible fixed assets, in accordance with FRS 102 Section 29. Deferred taxation was not recognised under FRS 105. The recognition of deferred tax has resulted in a deferred tax liability being recognised and a corresponding charge to profit or loss in the comparative period. As a result of recognising deferred taxation on transition to FRS 102, the loss after tax for the year ended 31 March 2025 has increased from £30,103 to £42,475, an increase of £12,372. In addition, reserves for the year ended 31 March 2025 decreased from £77,144 to £64,772, a reduction of £12,372.

11.

Prior period policy changes

These are the company's first financial statements prepared in accordance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. The previous financial statements were prepared in accordance with FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime.

The date of transition to FRS 102 was 1 April 2024.

In preparing these financial statements, the company has applied FRS 102 Section 35 - First-time Adoption of this Financial Reporting Standard. Comprehensive figures for the year ended 31 March 2025 have been restated accordingly. 

On transition to FRS 102, the company recognised deferred taxation in respect of timing differences arising on tangible fixed assets, in accordance with FRS 102 Section 29.

Deferred taxation was not recognised under FRS 105. The recognition of deferred tax has resulted in a deferred tax liability being recognised and a corresponding charge to profit or loss in the comparative period. 

As a result of recognising deferred taxation on transition to FRS 102, the loss after tax for the year ended 31 March 2025 has increased from £30,103 to £42,475, an increase of  £12,372. In addition, reserves for the year ended 31 March 2025 decreased from £77,144 to £64,772, a reduction of £12,372.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Intangible assets	3		669		8,718
Tangible assets	4		43,487		56,399
			44,156		65,117
Current assets
Stocks	5	465,966		424,338
Debtors	6	23,296		38,273
Cash at bank and on hand		3,049		28,802
		492,311		491,413
Creditors amounts falling due within one year	7	(424,169)		(407,165)
Net current assets (liabilities)			68,142		84,248
Total assets less current liabilities			112,298		149,365
Creditors amounts falling due after one year	8		(28,889)		(72,221)
Provisions for liabilities	9		(8,390)		(12,372)
Net assets			75,019		64,772
Capital and reserves
Called up share capital			200		200
Share premium			164,934		164,934
Profit and loss account			(90,115)		(100,362)
Shareholders' funds			75,019		64,772