CASCADE PRODUCTIONS INTERNATIONAL LIMITED

CASCADE PRODUCTIONS INTERNATIONAL LIMITED - Company Information

2021-05-012022-04-302022-04-30false03699332CASCADE PRODUCTIONS INTERNATIONAL 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Registered Number
03699332
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2022

CASCADE PRODUCTIONS INTERNATIONAL LIMITED

Company Information
for the year from 1 May 2021 to 30 April 2022


Directors	MADELEY, Joanne
	WIGHT, Alan James


Registered Address	Bridge Mills
	Stramongate
	Kendal
	LA9 4UB


Registered Number	03699332 (England and Wales)

CASCADE PRODUCTIONS INTERNATIONAL LIMITED

Statement of Financial Position
30 April 2022

	Notes	2022		2021
		£	£	£	£
Fixed assets
Tangible assets	6		88,065		58,579
			88,065		58,579
Current assets
Stocks	9	232,788		28,654
Debtors	10	1,600,176		281,439
Cash at bank and on hand		569,385		201,792
		2,402,349		511,885
Creditors amounts falling due within one year	11	(1,747,323)		(185,206)
Net current assets (liabilities)			655,026		326,679
Total assets less current liabilities			743,091		385,258
Net assets			743,091		385,258
Capital and reserves
Called up share capital			1,000		1,000
Share premium			146,736		146,736
Other reserves			1,000		1,000
Profit and loss account			594,355		236,522
Shareholders' funds			743,091		385,258

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The directors have chosen to not file a copy of the company’s profit and loss account.

The financial statements were approved and authorised for issue by the Board of Directors on 26 April 2023, and are signed on its behalf by:

WIGHT, Alan James
Director
Registered Company No. 03699332

CASCADE PRODUCTIONS INTERNATIONAL LIMITED

Notes to the Financial Statements
for the year ended 30 April 2022

1.	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.

2.	Basis of measurement used in financial statements
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

3.	Accounting policies

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services.

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Property, plant and equipment policy
	Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Property, plant and equipment policy

Tangible fixed assets are stated at cost or valuation less depreciation. 

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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	40
	Fixtures and fittings	25
	Vehicles	25
	Office Equipment	40

	Stocks policy
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement

	Taxation policy
	Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

	Deferred tax policy
	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 policy

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.

	Foreign currency translation and operations policy
	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 the Income Statement

Foreign currency translation and operations policy

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 the Income Statement

	Employee benefits policy
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Employee benefits policy

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in accruals in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

4.	Prior reporting period impact on current profit and loss
	Prior year was 9 months period to 30th April 2021.

5.	Employee information


		2022		2021
	Average number of employees during the year	8		6

6.	Property, plant and equipment

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 May 21	30,205	40,100	2,092	18,331	90,728
Additions	23,748	23,683	844	27,199	75,474
Disposals	-	(15,100)	-	-	(15,100)
At 30 April 22	53,953	48,683	2,936	45,530	151,102
Depreciation and impairment
At 01 May 21	6,844	23,312	297	1,696	32,149
Charge for year	14,185	7,050	449	12,034	33,718
On disposals	-	(2,830)	-	-	(2,830)
At 30 April 22	21,029	27,532	746	13,730	63,037
Net book value
At 30 April 22	32,924	21,151	2,190	31,800	88,065
At 30 April 21	23,361	16,788	1,795	16,635	58,579

7.	Description of financial commitments other than capital commitments
	At 30 April 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods: No later than 1 year = £6,750

8.	Off balance sheet pension commitments
	The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £7,905 (2021 - £3,341).

9.	Stocks

	2022	2021
	£	£
Work in progress	232,788	28,654
Total	232,788	28,654

10.	Debtors

	2022	2021
	£	£
Trade debtors / trade receivables	1,496,492	245,818
Amounts owed by associates and joint ventures / participating interests	64,366	4,368
Prepayments and accrued income	39,318	31,253
Total	1,600,176	281,439


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

11.	Creditors within one year

	2022	2021
	£	£
Trade creditors / trade payables	232,207	33,507
Amounts owed to related parties	18,452	-
Taxation and social security	283,791	39,482
Other creditors	2,877	3,109
Accrued liabilities and deferred income	1,209,996	109,108
Total	1,747,323	185,206


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method