Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312023-03-31102022-04-01falseNo description of principal activity10truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06795218 2022-04-01 2023-03-31 06795218 2021-04-01 2022-03-31 06795218 2023-03-31 06795218 2022-03-31 06795218 c:Director1 2022-04-01 2023-03-31 06795218 d:FurnitureFittings 2022-04-01 2023-03-31 06795218 d:OfficeEquipment 2022-04-01 2023-03-31 06795218 d:ComputerEquipment 2022-04-01 2023-03-31 06795218 d:CurrentFinancialInstruments 2023-03-31 06795218 d:CurrentFinancialInstruments 2022-03-31 06795218 d:Non-currentFinancialInstruments 2023-03-31 06795218 d:Non-currentFinancialInstruments 2022-03-31 06795218 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06795218 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 06795218 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06795218 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 06795218 d:ShareCapital 2023-03-31 06795218 d:ShareCapital 2022-03-31 06795218 d:SharePremium 2023-03-31 06795218 d:SharePremium 2022-03-31 06795218 d:RetainedEarningsAccumulatedLosses 2023-03-31 06795218 d:RetainedEarningsAccumulatedLosses 2022-03-31 06795218 d:RetainedEarningsAccumulatedLosses 2021-04-01 06795218 c:FRS102 2022-04-01 2023-03-31 06795218 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 06795218 c:FullAccounts 2022-04-01 2023-03-31 06795218 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06795218 c:Consolidated 2023-03-31 06795218 c:ConsolidatedGroupCompanyAccounts 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 06795218









THE SORTING OFFICE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
363,425
422,480

Tangible assets
 6 
16,804
19,039

  
380,229
441,519

Current assets
  

Debtors due within one year
 7 
349,705
341,766

Cash at bank and in hand
  
284,685
277,292

  
634,390
619,058

Creditors due within one year
 8 
(436,975)
(480,502)

Net current assets
  
 
 
197,415
 
 
138,556

Total assets less current liabilities
  
577,644
580,075

Creditors due after more than one year
 9 
(21,483)
(31,414)

Net assets
  
556,161
548,661


Capital and reserves
  

Called up share capital 
  
164
160

Share premium account
  
839,907
839,907

Profit and loss account
  
(283,910)
(291,406)

  
556,161
548,661


Page 1

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 director acknowledges his 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 consolidated statement of income and retained earnings 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 28 September 2023.




P L Tanner
Director

The notes on pages 5 to 12 form part of these financial statements.

Page 2

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors due within one year
 7 
222,687
222,687

  
222,687
222,687

Creditors due within one year
 8 
(34,370)
(34,370)

Net current assets
  
 
 
188,317
 
 
188,317

Total assets less current liabilities
  
188,317
188,317

  

Creditors due after more than one year
 9 
7,124
7,124

  

Net assets
  
195,441
195,441


Capital and reserves
  

Called up share capital 
  
160
160

Share premium account
  
839,907
839,907

Profit and loss account brought forward
  
(644,626)
(644,626)

Profit and loss account carried forward
  
(644,626)
(644,626)

  
195,441
195,441


Page 3

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The director considers that the Company is entitled to exemption from the requirement to have an audit under the provisions of 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated statement of income and retained earnings 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 28 September 2023.




P L Tanner
Director

The notes on pages 5 to 12 form part of these financial statements.

Page 4

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The principal activity of The Sorting Office Limited ("the Company") and its subsidiaries (together "the Group") is that of the provision of telecommunication services.
The Sorting Office Limited is a private company limited by shares and incorporated in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS. The address of its principal place of business is Centa House, 61 Birkenhead Street, London, WC1H 8BB.

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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of income and retained earnings in these financial statements.

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 Group's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

Existing funding facilities, forecasts and projections indicate that the group has adequate resources to continue with some level of activity from minimal to full levels. 
After reviewing the group's forecasts and projections, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for at least 12 months from the date of approval of the financial statements.  The group therefore continues to adopt the going concern basis in preparing its financial statements. 

Page 5

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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.
Turnover comprises revenue recognised by the Group in respect of IT and telecommunication services supplied during the year.
Revenue is recognised at the point at which the Group supplies the service. 

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.7

Intangible assets

The intangible fixed asset comprises the cost of developing computer systems and the website and is stated at historical cost less accumulated amortisation. The amortisation rate is calculated to write off the cost of the asset over its expected useful life on the following basis:
Development expenditure                              25% - straight line

 
2.8

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.

Page 6

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

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.

 
2.9

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short term creditors are measured at the transaction price.

  
2.12

Taxation

Tax is recognised in the consolidated statement of income and retained earnings.
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 group operates and generates income.

  
2.13

Research and development

Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to profit or loss.

Page 7

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


3.


Other operating income

2023
2022
£
£

Research and development tax credit recoverable
55,787
59,531

55,787
59,531



4.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 10).

Page 8

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Intangible assets

Group 





Patent and Development costs

£



Cost


At 1 April 2022
590,554



At 31 March 2023

590,554



Amortisation


At 1 April 2022
168,074


Charge for the year on owned assets
59,055



At 31 March 2023

227,129



Net book value



At 31 March 2023
363,425



At 31 March 2022
422,480



Page 9

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Tangible fixed assets

Group






Fixtures & fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
17,118
31,478
566
49,162


Additions
-
3,058
-
3,058



At 31 March 2023

17,118
34,536
566
52,220



Depreciation


At 1 April 2022
16,628
13,108
387
30,123


Charge for the year on owned assets
123
5,125
45
5,293



At 31 March 2023

16,751
18,233
432
35,416



Net book value



At 31 March 2023
367
16,303
134
16,804



At 31 March 2022
490
18,370
179
19,039


7.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
21,327
103,466
-
-

Amounts owed by group undertakings
-
-
219,161
219,161

Other debtors
182,166
92,421
3,526
3,526

Prepayments and accrued income
90,425
145,879
-
-

Tax recoverable
55,787
-
-
-

349,705
341,766
222,687
222,687


Page 10

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
8,970
9,687
-
-

Trade creditors
48,026
75,760
-
-

Amounts owed to group undertakings
-
-
34,370
34,370

Other taxation and social security
120,837
53,492
-
-

Other creditors
16,444
1,545
-
-

Accruals and deferred income
242,698
340,018
-
-

436,975
480,502
34,370
34,370



9.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
28,607
38,538
-
-

Other creditors
7,124
7,124
7,124
7,124

(21,483)
(31,414)
7,124
7,124


Page 11

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Loans



Group
Group
2023
2022
£
£

Amounts falling due within one year

Bank loans
8,970
9,687


8,970
9,687

Amounts falling due 1-2 years

Bank loans
15,516
15,264


15,516
15,264

Amounts falling due 2-5 years

Bank loans
13,091
23,274


13,091
23,274

Amounts falling due after more than 5 years

37,577
48,225



11.


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 £52,931 (2022 - £7,281). Contributions totalling £2,125 (2022 - £1,540) were payable to the fund at the reporting date and are included in creditors.

Page 12