Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity33truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08258921 2022-01-01 2022-12-31 08258921 2021-01-01 2021-12-31 08258921 2022-12-31 08258921 2021-12-31 08258921 c:Director1 2022-01-01 2022-12-31 08258921 d:ComputerEquipment 2022-01-01 2022-12-31 08258921 d:ComputerEquipment 2022-12-31 08258921 d:ComputerEquipment 2021-12-31 08258921 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 08258921 d:CurrentFinancialInstruments 2022-12-31 08258921 d:CurrentFinancialInstruments 2021-12-31 08258921 d:Non-currentFinancialInstruments 2022-12-31 08258921 d:Non-currentFinancialInstruments 2021-12-31 08258921 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08258921 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08258921 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08258921 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08258921 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 08258921 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 08258921 d:ShareCapital 2022-12-31 08258921 d:ShareCapital 2021-12-31 08258921 d:RetainedEarningsAccumulatedLosses 2022-12-31 08258921 d:RetainedEarningsAccumulatedLosses 2021-12-31 08258921 c:FRS102 2022-01-01 2022-12-31 08258921 c:Audited 2022-01-01 2022-12-31 08258921 c:FullAccounts 2022-01-01 2022-12-31 08258921 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 08258921 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 08258921 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 08258921










ASSOCIATES SUPPORT & NETWORK SERVICES LTD










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
REGISTERED NUMBER: 08258921

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,869
5,775

  
1,869
5,775

Current assets
  

Debtors: amounts falling due within one year
 6 
1,817,487
1,605,830

Cash at bank and in hand
  
697,210
565,503

  
2,514,697
2,171,333

Creditors: amounts falling due within one year
 7 
(855,796)
(845,239)

Net current assets
  
 
 
1,658,901
 
 
1,326,094

Total assets less current liabilities
  
1,660,770
1,331,869

Creditors: amounts falling due after more than one year
 8 
(22,492)
(33,140)

  

Net assets
  
1,638,278
1,298,729


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,638,178
1,298,629

  
1,638,278
1,298,729


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 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 by: 




................................................
Mr R Clucas
Director

Date: 29 September 2023

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Associates Support & Network Services Ltd is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 40 Churchill Square, Kings Hill, West Malling, Kent, ME19 4YU.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared on the going concern basis under the historical cost convention and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom 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:

  
2.2

Exemption from preparing consolidated financial statements

The company is a parent company that is also a subsidiary included in the consolidated financial
statements of its immediate parent undertaking established under the law of an EEA state and is
therefore exempt from the requirement to prepare consolidated financial statements under section
400 of the Companies Act 2006.

 
2.3

Going concern

The financial statements have been prepared on a going concern basis which is appropriate
because there are no material uncertainties related to events or conditions that may cast significant
doubt about the ability of the company to continue as a going concern. A written commitment to the
provision of support for at least twelve months has been received from Montgomery Investment
Company SA, the parent company, should that support be required.

Page 2

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.5

Revenue

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.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
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

Borrowing costs

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

 
2.9

Taxation

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.

 
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:

Computer equipment
-
25%
straight line method

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.

No depreciation is charged in the year of acquisition.

 
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 4

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. 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. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

No judgements have been made in the process of applying the above accounting policies that have had a significant effect on amounts recognised in the financial statements.
No key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date which have a signficant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year have been made. 


4.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 3).

Page 5

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2022
131,981


Additions
292



At 31 December 2022

132,273



Depreciation


At 1 January 2022
126,206


Charge for the year on owned assets
4,198



At 31 December 2022

130,404



Net book value



At 31 December 2022
1,869



At 31 December 2021
5,775


6.


Debtors

2022
2021
£
£


Trade debtors
-
261

Amounts owed by group undertakings
1,811,144
1,595,940

Other debtors
-
3,546

Prepayments and accrued income
6,343
6,083

1,817,487
1,605,830


Page 6

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Other loans
10,648
10,648

Trade creditors
14,432
3,862

Amounts owed to group undertakings
763,228
803,230

Corporation tax
59,954
17,541

Accruals and deferred income
7,534
9,958

855,796
845,239



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Other loans
22,492
33,140

22,492
33,140



9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Other loans
10,648
10,648


Amounts falling due 2-5 years

Other loans
22,492
33,140


33,140
43,788



10.


Ultimate parent entity and controlling party

The immediate parent undertaking and the parent of the smallest and largest group for which consolidated financial statements are available is MICO Holding Ltd, registered at Suite 24, 40 Churchill Square, Kings Hill, West Malling, England, ME19 4YU.

Page 7

 
ASSOCIATES SUPPORT & NETWORK SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 29 September 2023 by Duncan Cochrane-Dyet BSc BFP FCA (Senior Statutory Auditor) on behalf of MHA.

MHA is the trading name of MacIntyre Hudson LLP, a limited liability partnership in England and Wales (registered number OC312313).

 
Page 8