Caseware UK (AP4) 2022.0.179 2022.0.179 2 the management of investments true 2022-05-01 false 2 true The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 3340401 2022-05-01 2023-04-30 3340401 2021-05-01 2022-04-30 3340401 2023-04-30 3340401 2022-04-30 3340401 2021-05-01 3340401 c:Director1 2022-05-01 2023-04-30 3340401 d:OfficeEquipment 2022-05-01 2023-04-30 3340401 d:OfficeEquipment 2023-04-30 3340401 d:OfficeEquipment 2022-04-30 3340401 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 3340401 d:CurrentFinancialInstruments 2023-04-30 3340401 d:CurrentFinancialInstruments 2022-04-30 3340401 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 3340401 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 3340401 d:ShareCapital 2023-04-30 3340401 d:ShareCapital 2022-04-30 3340401 d:RetainedEarningsAccumulatedLosses 2023-04-30 3340401 d:RetainedEarningsAccumulatedLosses 2022-04-30 3340401 c:FRS102 2022-05-01 2023-04-30 3340401 c:AuditExempt-NoAccountantsReport 2022-05-01 2023-04-30 3340401 c:FullAccounts 2022-05-01 2023-04-30 3340401 c:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 3340401 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 3340401 d:AcceleratedTaxDepreciationDeferredTax 2022-04-30 iso4217:GBP xbrli:pure

Registered number: 3340401 Albac Investments Limited Financial statements For the year ended 30 April 2023
Albac Investments Limited Registered number:3340401
Balance sheet as at 30 April 2023
|  | 2023 |  | 2022
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Tangible assets | 4 |  | 243 |  | 325
Current assets |  |  |  |  |
Cash at bank and in hand | 5 | 199,187 |  | 243,696 |
|  | 199,187 |  | 243,696 |
Creditors: amounts falling due within one year | 6 | (146,798) |  | (136,879) |
Net current assets |  |  | 52,389 |  | 106,817
Total assets less current liabilities |  |  | 52,632 |  | 107,142
Provisions for liabilities |  |  |  |  |
Deferred tax | 7 |  | - |  | (61)
Net assets |  |  | 52,632 |  | 107,081
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 2 |  | 2
Profit and loss account |  |  | 52,630 |  | 107,079
|  |  | 52,632 |  | 107,081
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 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 10 August 2023.
A. J. Taylor
Director
The notes on pages 2 to 7 form part of these financial statements. Page 1
Albac Investments Limited
Notes to the financial statements For the year ended 30 April 2023
1. | General information
Albac Investments Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex SS11 7HQ. 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 | 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, on a reducing balance basis. Depreciation is provided at the following rate:
|  |  |  | Office 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.
| 2.3 | 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. Page 2
Albac Investments Limited
Notes to the financial statements For the year ended 30 April 2023 2.Accounting policies (continued)
| 2.4 | 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 Balance sheet when the company becomes party to the contractual provisions of the instrument. 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. Impairment of financial assets Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. 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. Page 3
Albac Investments Limited
Notes to the financial statements For the year ended 30 April 2023 2.Accounting policies (continued)
| 2.4 | Financial instruments (continued)
Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.
| 2.5 | 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.
| 2.6 | 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.
| 2.7 | 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 balance sheet 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 Balance sheet. Page 4
Albac Investments Limited
Notes to the financial statements For the year ended 30 April 2023 2.Accounting policies (continued)
| 2.8 | 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.
3. | Employees
| The average monthly number of employees, including directors, during the year was 2 (2022 - 2).
Page 5
Albac Investments Limited
Notes to the financial statements For the year ended 30 April 2023
4. | Tangible fixed assets
|  | Office equipment
|  | £
| Cost |
| At 1 May 2022 | 4,956
| At 30 April 2023 | 4,956
| Depreciation |
| At 1 May 2022 | 4,631
| Charge for the year | 82
| At 30 April 2023 | 4,713
| Net book value |
| At 30 April 2023 | 243
| At 30 April 2022 | 325
5. | Cash and cash equivalents
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Cash at bank and in hand | 199,187 | 243,696
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Directors' loan account | 145,958 | 136,039
| Accruals and deferred income | 840 | 840
|  | 146,798 | 136,879
Page 6
Albac Investments Limited
Notes to the financial statements For the year ended 30 April 2023
7. | Deferred taxation
|  | 2023 | 2022
|  | £ | £
| At beginning of year | (61) | (82)
| Released during the year | 61 | 21
| At end of year | - | (61)
| The deferred taxation balance is made up as follows:
|  |  |  |  | 2023 | 2022
|  |  |  |  | £ | £
| Accelerated capital allowances | - | (61)
Page 7