Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseNo description of principal activity3739truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03756336 2021-01-01 2021-12-31 03756336 2020-01-01 2020-12-31 03756336 2021-12-31 03756336 2020-12-31 03756336 2020-01-01 03756336 c:Director3 2021-01-01 2021-12-31 03756336 d:FurnitureFittings 2021-01-01 2021-12-31 03756336 d:FurnitureFittings 2021-12-31 03756336 d:FurnitureFittings 2020-12-31 03756336 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03756336 d:OfficeEquipment 2021-01-01 2021-12-31 03756336 d:OfficeEquipment 2021-12-31 03756336 d:OfficeEquipment 2020-12-31 03756336 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03756336 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 03756336 d:CurrentFinancialInstruments 2021-12-31 03756336 d:CurrentFinancialInstruments 2020-12-31 03756336 d:Non-currentFinancialInstruments 2021-12-31 03756336 d:Non-currentFinancialInstruments 2020-12-31 03756336 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 03756336 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 03756336 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 03756336 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 03756336 d:ShareCapital 2021-12-31 03756336 d:ShareCapital 2020-12-31 03756336 d:SharePremium 2021-12-31 03756336 d:SharePremium 2020-12-31 03756336 d:CapitalRedemptionReserve 2021-12-31 03756336 d:CapitalRedemptionReserve 2020-12-31 03756336 d:RetainedEarningsAccumulatedLosses 2021-12-31 03756336 d:RetainedEarningsAccumulatedLosses 2020-12-31 03756336 c:OrdinaryShareClass1 2021-01-01 2021-12-31 03756336 c:OrdinaryShareClass1 2021-12-31 03756336 c:OrdinaryShareClass1 2020-12-31 03756336 c:FRS102 2021-01-01 2021-12-31 03756336 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 03756336 c:FullAccounts 2021-01-01 2021-12-31 03756336 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 03756336 d:WithinOneYear 2021-12-31 03756336 d:WithinOneYear 2020-12-31 03756336 d:BetweenOneFiveYears 2021-12-31 03756336 d:BetweenOneFiveYears 2020-12-31 03756336 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 03756336 d:AcceleratedTaxDepreciationDeferredTax 2020-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 03756336









SCHOFIELD PUBLISHING LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

 
SCHOFIELD PUBLISHING LIMITED
REGISTERED NUMBER: 03756336

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
20,462
7,722

  
20,462
7,722

Current assets
  

Debtors: amounts falling due within one year
 5 
472,645
283,382

Cash at bank and in hand
  
307,904
158,991

  
780,549
442,373

Creditors: amounts falling due within one year
 6 
(343,498)
(156,953)

Net current assets
  
 
 
437,051
 
 
285,420

Total assets less current liabilities
  
457,513
293,142

Creditors: amounts falling due after more than one year
 7 
(68,333)
(86,667)

Provisions for liabilities
  

Deferred tax
 8 
(5,115)
(1,466)

Net assets
  
384,065
205,009


Capital and reserves
  

Called up share capital 
 9 
1,788
1,788

Share premium account
  
49,781
49,781

Capital redemption reserve
  
79,202
79,202

Profit and loss account
  
253,294
74,238

  
384,065
205,009


Page 1

 
SCHOFIELD PUBLISHING LIMITED
REGISTERED NUMBER: 03756336

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 30 August 2022.




................................................
Mr R A Dickson
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SCHOFIELD PUBLISHING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Schofield Publishing Limited is a company limited by shares, incorporated in England and Wales, with company number 03756336. The registered adress of the company is Cringleford Business Centre, Intwood Road, Cringleford, Norwich, Norfolk, NR4 6AU.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention 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.

The following principal accounting policies have been applied:

 
2.2

Going concern

During and following the year the company has been affected by restrictions imposed by the UK Government in response to the COVID-19 pandemic. 
The director considers that the resources available to the company will be sufficient for it to be able to continue as a going concern during the restrictions and once the restrictions are lifted. However, there is a high level of uncertainty about how long the restrictions will last and the level of demand once the restrictions have ended which could affect this assessment. The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

 
2.3

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
SCHOFIELD PUBLISHING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Pensions

Defined contribution pension plan

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
SCHOFIELD PUBLISHING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
20% straight line
Office equipment
-
20% straight line

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.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 5

 
SCHOFIELD PUBLISHING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 37 (2020 - 39).


4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2021
5,337
37,294
42,631


Additions
351
17,018
17,369


Disposals
(2,082)
(31,858)
(33,940)



At 31 December 2021

3,606
22,454
26,060



Depreciation


At 1 January 2021
2,950
31,959
34,909


Charge for the year on owned assets
872
3,757
4,629


Disposals
(2,082)
(31,858)
(33,940)



At 31 December 2021

1,740
3,858
5,598



Net book value



At 31 December 2021
1,866
18,596
20,462



At 31 December 2020
2,387
5,335
7,722


5.


Debtors

2021
2020
£
£

Page 6

 
SCHOFIELD PUBLISHING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.Debtors (continued)


Trade debtors
372,181
244,600

Amounts owed by group undertakings
40,000
-

Other debtors
66
-

Prepayments and accrued income
38,876
22,300

Amounts recoverable on contracts
21,522
16,482

472,645
283,382



6.


Creditors: Amounts falling due within one year

2021
2020
£
£

Bank loans
20,000
13,333

Trade creditors
98,317
35,887

Corporation tax
132,421
8,830

Other taxation and social security
40,960
56,411

Other creditors
-
524

Accruals and deferred income
51,800
41,968

343,498
156,953



7.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
68,333
86,667

68,333
86,667




The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is:

2021
2020
£
£


Repayable by instalments
-
6,667

-
6,667



Page 7

 
SCHOFIELD PUBLISHING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Deferred taxation




2021
2020


£

£






At beginning of year
(1,466)
(1,578)


Charged to profit or loss
(3,649)
112



At end of year
(5,115)
(1,466)

The provision for deferred taxation is made up as follows:

2021
2020
£
£


Accelerated capital allowances
(5,115)
(1,466)

(5,115)
(1,466)


9.


Share capital

2021
2020
£
£
Allotted, called up and fully paid



178,792 (2020 - 178,792) Ordinary shares of £0.01 each
1,788
1,788



10.


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 contributions payable by the Company to the fund and amounted to £31,845 (2020 - £27,685). Contributions totalling £Nil (2020 - £525) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
31,135
31,135

Later than 1 year and not later than 5 years
31,135
62,270

62,270
93,405

Page 8

 
SCHOFIELD PUBLISHING LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

12.


Controlling party

The ultimate controlling party is Three Crowns Holdings Limited of which Mr A Schofield is a director. 


Page 9