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Registered number:
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAICE ACOUSTIC AIR MOVEMENT LTD.
COMPANY INFORMATION
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CAICE ACOUSTIC AIR MOVEMENT LTD.
CONTENTS
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CAICE ACOUSTIC AIR MOVEMENT LTD.
STRATEGIC REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
The directors present their Strategic Report for the year ended 29 February 2025.
The principal activities of the company were the sale, manufacture, and installation of products within the building services and general construction market. Attenuators, fan coil units (FCU’s), acoustic fan units, architectural acoustic louvres screens, and acoustic enclosure systems.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
Caice sales have increased relative to 2023/24.
Turnover increased by 16.7% compared to 2023-24 and overall Gross Profit was up by 18.6%. The previous year saw percentage Gross Profit Margin fall to 45.7% but this year it rose slightly to 46.4%. There are no specific reasons for this increase.
Good overhead control resulted in administrative costs being 8% below target and just 3% higher than the previous year. This is despite particularly high levels of inflation in the economy as a whole and the need to make significant ‘inflationary’ pay awards.
Our average number of employees increased to 162 (2024: 147).
Despite some fluctuations on a monthly basis, Sales and Production output remained reasonably steady throughout the year and all product groups performed well. As with the Construction industry generally we have been impacted by project delays, with this impact being felt most on the larger projects.
Looking ahead, the main risks and uncertainties for the Company would relate to the health of the UK economy as a whole and specifically that of the construction industry. Indicators in the specific areas of the Construction Industry in which we operate are generally positive. In certain infrastructure related sectors in which we operate, the indicators are very positive for some years to come and the impact of project delays in these sectors is expected to significantly lessen.
Post-Grenfell regulatory changes significantly impacted a core product range. However, our proactive strategy prioritized immediate compliance, positioning us as the first in the market to meet these new requirements, an effort we anticipate will yield a significant competitive advantage. Simultaneously, our continuous Product Development initiatives are designed to anticipate and exceed future sustainability, environmental, and equivalent regulatory mandates, ensuring we consistently deliver high-quality products and solutions across all our operating markets. Furthermore, the ongoing improvement and modernization of our Production facilities, machinery, and processes are instrumental in enhancing both our quality and delivery capabilities, thereby strengthening our overall market competitiveness.
The in-house Development and IT department represents a significant strategic asset, continuously driving business value through product and software research and development (R&D). This in-house capability is instrumental in pioneering new products, optimized processes, and advanced selection methodologies, thereby maintaining our market leadership.
New and inventive approaches to production, product, and process development are central to the company’s strategic plans.
∙Production Investment and Capacity Expansion: We have significantly improved our existing production facilities and acquired additional operational space to support growth. Key to this strategy is the completion of the new powder coating line, developed with leading-edge technology, which will significantly support our drive to lead the market, particularly in the acoustic and weather louvre product fields.
∙Continuous Improvement: Ongoing R&D across products, processes, operating systems, business, and client software is focused on continuously improving product quality, enhancing the client experience, and optimizing margins within a highly competitive market.
We are confident that these sustained investments in both our facilities and R&D enable us to maintain our position as market leaders, offering our customers innovation that cannot be easily replicated by competitors.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
This report was approved by the board on 28 November 2025 and signed on its behalf.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
DIRECTORS' REPORT
FOR THE YEAR ENDED 28 FEBRUARY 2025
The directors present their report and the financial statements for the year ended 28 February 2025.
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgments 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 directors are 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 to enable them to ensure that the financial statements comply with the Companies Act 2006. They are 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.
The profit for the year, after taxation, amounted to £1,023,754 (2024 - £618,600).
The dividend paid to Caice Management Limited, the management buyout company, was £300,320 (2024: £50,314).
The dividend declared to other shareholders was £82,500 (2024: £267,500).
The directors who served during the year were:
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CAICE ACOUSTIC AIR MOVEMENT LTD.
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
Employee engagement is a fundamental strategy of the business ensuring the beliefs of the founder directors is at the heart of the company.
This is achieved by focusing on employee motivation and well-being and helping employees understand their contribution to the organisational purpose, objectives, and culture. Our strategy is one of a multi-pronged approach, aligning communications, HR policies and systems, learning programs, product understanding and development and cross-organisational interface. In support of the above we require the active buy-in and support of senior leaders and line managers throughout the organisation.
The auditors, FLB Audit LLP, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on
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CAICE ACOUSTIC AIR MOVEMENT LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAICE ACOUSTIC AIR MOVEMENT LTD.
We have audited the financial statements of Caice Acoustic Air Movement Ltd. (the 'Company') for the year ended 28 February 2025, which comprise the Statement of comprehensive income, the , the Balance sheet, the Statement of cash flows, the Statement of changes in equity and the related notes, 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 auditing the financial statements, we have concluded that the directors' 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 directors with respect to going concern are described in the relevant sections of this report.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAICE ACOUSTIC AIR MOVEMENT LTD. (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. 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. 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 course of 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.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
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 Directors' report.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAICE ACOUSTIC AIR MOVEMENT LTD. (CONTINUED)
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.
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:
∙enquiring of management concerning actual and potential litigation and claims;
∙performing analytical procedures to identify any unusual results that may indicate risks of material misstatement due to fraud;
∙reading minutes of meetings;
∙assessing any management override of controls by testing journal entries and other adjustments and
∙reviewing accounting estimates for indications of potential bias;
∙evaluating any transactions that are unusual or outside the normal course of business; and
∙maintaining alert to any fraud risks throughout the audit.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF CAICE ACOUSTIC AIR MOVEMENT LTD. (CONTINUED)
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.
for and on behalf of
Chartered Accountants
Statutory Auditors
1010 Eskdale Road
Winnersh Triangle
RG41 5TS
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CAICE ACOUSTIC AIR MOVEMENT LTD.
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAICE ACOUSTIC AIR MOVEMENT LTD.
REGISTERED NUMBER: 02790667
BALANCE SHEET
AS AT 28 FEBRUARY 2025
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CAICE ACOUSTIC AIR MOVEMENT LTD.
REGISTERED NUMBER: 02790667
BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
The notes on pages 17 to 39 form part of these financial statements.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAICE ACOUSTIC AIR MOVEMENT LTD.
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAICE ACOUSTIC AIR MOVEMENT LTD.
STATEMENT OF CASH FLOWS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAICE ACOUSTIC AIR MOVEMENT LTD.
FOR THE YEAR ENDED 28 FEBRUARY 2025
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Caice Acoustic Air Movement Ltd. is a private company limited by shares. The company was incorporated in the United Kingdom and registered in England and Wales. The registration number is 02790667. The registered office address is Riverside House 3 Winnersh Fields, Gazelle Close, Winnersh, Berkshire, RG41 5QS.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The company had positive profit and loss reserves at the year end of £3,586,949 (2024: £2,948,153). The directors have reviewed the group cash requirements for a period of more than 12 months from the date of signing these financial statements, and are confident the company will have sufficient resources to continue to meet its obligations. The directors have accordingly adopted the going concern basis for preparing these financial statements.
Functional and presentation currency
Transactions and balances
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of comprehensive income over its useful economic life of 10 years.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, both straight line and reducing balance.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
Other financial assets
Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Basic financial liabilities
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 the deduction of all its liabilities.
Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.
Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.
Other financial instruments
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.
Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.
Derecognition of financial instruments
Derecognition of financial assets
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
2.Accounting policies (continued)
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Depreciation Tangible fixed assets are depreciated over their useful economic lives. The actual lives of the assets are assessed annually and may vary depending on a range of factors. These factors include product life cycles, maintenance programs of the assets, as well as technological innovation. The applicable accounting policies detailing these areas are shown in note 2.12 and 2.13. Creditors, provisions, and liabilities These are recognised at the balance sheet date. Although these estimates are reviewed on a regular basis and adjusted to reflect management's best current estimates, the judgemental nature of these items means that future amounts settled may be different from those provided. Project costs are specifically accrued, and are adjusted when certain stages of completion are met. Fan coil provision The determination of whether a provision is required in relation to a failed fan involves significant judgement. Management assesses whether a present obligation exists based on the cause and nature of the failure, warranty or contractual obligations, and any expected claims from customers or third parties. Judgement is also required in estimating the expected cost of remediation, including parts, labour, replacement, disposal, and any related contractual or regulatory costs. These estimates are inherently uncertain, and actual outcomes may differ. The provision is reassessed at each reporting date to reflect updated technical evaluations, cost estimates, and the likelihood of settlement.
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Analysis of turnover by country of destination:
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Page 26
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Page 27
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
11.Taxation (continued)
Page 28
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CAICE ACOUSTIC AIR MOVEMENT LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
Page 29
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