Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-312022-08-01falseNo description of principal activity24truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04025219 2022-08-01 2023-07-31 04025219 2021-08-01 2022-07-31 04025219 2023-07-31 04025219 2022-07-31 04025219 c:Director1 2022-08-01 2023-07-31 04025219 d:Buildings 2022-08-01 2023-07-31 04025219 d:Buildings 2023-07-31 04025219 d:Buildings 2022-07-31 04025219 d:PlantMachinery 2022-08-01 2023-07-31 04025219 d:FurnitureFittings 2022-08-01 2023-07-31 04025219 d:OfficeEquipment 2022-08-01 2023-07-31 04025219 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 04025219 d:OtherPropertyPlantEquipment 2023-07-31 04025219 d:OtherPropertyPlantEquipment 2022-07-31 04025219 d:Goodwill 2023-07-31 04025219 d:Goodwill 2022-07-31 04025219 d:CurrentFinancialInstruments 2023-07-31 04025219 d:CurrentFinancialInstruments 2022-07-31 04025219 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 04025219 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 04025219 d:ShareCapital 2023-07-31 04025219 d:ShareCapital 2022-07-31 04025219 d:RetainedEarningsAccumulatedLosses 2023-07-31 04025219 d:RetainedEarningsAccumulatedLosses 2022-07-31 04025219 c:FRS102 2022-08-01 2023-07-31 04025219 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 04025219 c:FullAccounts 2022-08-01 2023-07-31 04025219 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 04025219 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 04025219 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 04025219 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 04025219










INVESTMENT CASTING MOULDMAKERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023



 
INVESTMENT CASTING MOULDMAKERS LIMITED
REGISTERED NUMBER: 04025219

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
47,500
48,083

  
47,500
48,083

Current assets
  

Debtors: amounts falling due within one year
 6 
1,200
14,160

Cash at bank and in hand
  
20,414
12,669

  
21,614
26,829

Creditors: amounts falling due within one year
 7 
(12,612)
(21,641)

Net current assets
  
 
 
9,002
 
 
5,188

Total assets less current liabilities
  
56,502
53,271

Provisions for liabilities
  

Deferred tax
 8 
-
(111)

  
 
 
-
 
 
(111)

Net assets
  
56,502
53,160


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
56,500
53,158

  
56,502
53,160


Page 1

 
INVESTMENT CASTING MOULDMAKERS LIMITED
REGISTERED NUMBER: 04025219
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 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 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 2 October 2023.




................................................
E P Joyce
Director

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

Page 2

 
INVESTMENT CASTING MOULDMAKERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.Accounting policies

 
1.1

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 presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

Interest income

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

 
1.4

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.

 
1.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
INVESTMENT CASTING MOULDMAKERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.Accounting policies (continued)

 
1.6

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 reporting 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 reporting 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 reporting date.

 
1.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
1.8

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 4

 
INVESTMENT CASTING MOULDMAKERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.Accounting policies (continued)


1.8
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Plant & machinery
-
20%
straight line
Fixtures & fittings
-
33%
straight line
Office equipment
-
33%
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.

 
1.9

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.

 
1.10

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.

 
1.11

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.

 
1.12

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.
Page 5

 
INVESTMENT CASTING MOULDMAKERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.Accounting policies (continued)

 
1.13

Financial instruments

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 Statement of financial position 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 receivables, cash and bank balances, are initially measured at their transaction price including transaction costs 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 receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments 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 payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables 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.

 
1.14

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.

Page 6

 
INVESTMENT CASTING MOULDMAKERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.


General information

Investment Casting Mouldmakers Limited is a private company, limited by shares and registered in England.
Its registered number is: 04025219
The address of its registered office is:
Unit 40
London Road Industrial Estate
Baldock
Hertfordshire
SG7 6NG


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 4).


4.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
27,500



At 31 July 2023

27,500



Amortisation


At 1 August 2022
27,500



At 31 July 2023

27,500



Net book value



At 31 July 2023
-



At 31 July 2022
-



Page 7

 
INVESTMENT CASTING MOULDMAKERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 August 2022
47,500
134,535
182,035


Disposals
-
(134,535)
(134,535)



At 31 July 2023

47,500
-
47,500





At 1 August 2022
-
133,953
133,953


Disposals
-
(133,953)
(133,953)



At 31 July 2023

-
-
-



Net book value



At 31 July 2023
47,500
-
47,500



At 31 July 2022
47,500
583
48,083


6.


Debtors

2023
2022
£
£


Trade debtors
1,200
14,160

1,200
14,160


Page 8

 
INVESTMENT CASTING MOULDMAKERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
270
620

Corporation tax
2,801
99

Other taxation and social security
1,821
9,092

Other creditors
6,520
10,570

Accruals and deferred income
1,200
1,260

12,612
21,641



8.


Deferred taxation




2023


£






At beginning of year
(111)


Charged to profit or loss
111



At end of year
-

The deferred taxation balance is made up as follows:

2023
2022
£
£


Accelerated capital allowances
-
(111)

-
(111)

 
Page 9