Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01falseNo description of principal activity2828trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08394448 2022-04-01 2023-03-31 08394448 2021-04-01 2022-03-31 08394448 2023-03-31 08394448 2022-03-31 08394448 c:Director1 2022-04-01 2023-03-31 08394448 d:Buildings 2022-04-01 2023-03-31 08394448 d:Buildings 2023-03-31 08394448 d:Buildings 2022-03-31 08394448 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08394448 d:PlantMachinery 2022-04-01 2023-03-31 08394448 d:PlantMachinery 2023-03-31 08394448 d:PlantMachinery 2022-03-31 08394448 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08394448 d:FurnitureFittings 2022-04-01 2023-03-31 08394448 d:FurnitureFittings 2023-03-31 08394448 d:FurnitureFittings 2022-03-31 08394448 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08394448 d:OfficeEquipment 2022-04-01 2023-03-31 08394448 d:OfficeEquipment 2023-03-31 08394448 d:OfficeEquipment 2022-03-31 08394448 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08394448 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 08394448 d:CurrentFinancialInstruments 2023-03-31 08394448 d:CurrentFinancialInstruments 2022-03-31 08394448 d:Non-currentFinancialInstruments 2023-03-31 08394448 d:Non-currentFinancialInstruments 2022-03-31 08394448 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08394448 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08394448 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08394448 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08394448 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08394448 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 08394448 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 08394448 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 08394448 d:ShareCapital 2023-03-31 08394448 d:ShareCapital 2022-03-31 08394448 d:RetainedEarningsAccumulatedLosses 2023-03-31 08394448 d:RetainedEarningsAccumulatedLosses 2022-03-31 08394448 c:FRS102 2022-04-01 2023-03-31 08394448 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08394448 c:FullAccounts 2022-04-01 2023-03-31 08394448 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08394448 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 08394448









MUSGRAVE VENTURES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MUSGRAVE VENTURES LIMITED
REGISTERED NUMBER: 08394448

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
61,126
61,957

Current assets
  

Debtors: amounts falling due within one year
 5 
51,353
94,778

Cash at bank and in hand
 6 
99,046
101,934

  
150,399
196,712

Creditors: amounts falling due within one year
 7 
(85,192)
(75,068)

Net current assets
  
 
 
65,207
 
 
121,644

Total assets less current liabilities
  
126,333
183,601

Creditors: amounts falling due after more than one year
 8 
(38,377)
(35,830)

  

Net assets
  
87,956
147,771


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
87,955
147,770

  
87,956
147,771


Page 1

 
MUSGRAVE VENTURES LIMITED
REGISTERED NUMBER: 08394448
    
BALANCE SHEET (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 statement of comprehensive income 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 4 October 2023.




S Minks
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MUSGRAVE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Musgrave Ventures Limited is a private company, limited by shares and incorporated in England and Wales (registered number 08394448). The registered office address is Chalcraft Hall Care Home, 76 Chalcraft lane, Bognor Regis, England PO21 5TS.

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

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.

 
2.3

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 Statement of Comprehensive Income in the same period as the related expenditure.

 
2.4

Interest income

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

Page 3

 
MUSGRAVE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 4

 
MUSGRAVE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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, .

Depreciation is provided on the following basis:

Leasehold Improvements
-
Over 8 years
Plant and machinery
-
25%
Reducing balance method
Fixtures and fittings
-
25%
Reducing balance method
Office equipment
-
25%
Reducing balance 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.

 
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.

 
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

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 5

 
MUSGRAVE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 28 (2022 - 28).


4.


Tangible fixed assets





Leasehold Improvem'ts
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
68,447
10,566
35,787
9,262
124,062


Additions
9,030
2,798
1,471
194
13,493



At 31 March 2023

77,477
13,364
37,258
9,456
137,555



Depreciation


At 1 April 2022
25,024
5,946
26,335
4,801
62,106


Charge for the year on owned assets
9,308
1,340
2,519
1,156
14,323



At 31 March 2023

34,332
7,286
28,854
5,957
76,429



Net book value



At 31 March 2023
43,145
6,078
8,404
3,499
61,126



At 31 March 2022
43,423
4,620
9,452
4,461
61,956


5.


Debtors

2023
2022
£
£


Trade debtors
49,552
40,701

Other debtors
183
52,919

Prepayments and accrued income
1,618
1,158

51,353
94,778


Page 6

 
MUSGRAVE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
99,046
101,934



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
5,829
11,667

Trade creditors
20,967
9,052

Corporation tax
24,217
11,674

Other taxation and social security
3,054
11,774

Other creditors
28,125
11,389

Accruals and deferred income
3,000
19,512

85,192
75,068



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
38,377
35,830



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans < 1 yr
5,829
11,667


Amounts falling due 2-5 years

Bank loans 2-5 yrs
17,488
29,997

Amounts falling due after more than 5 years

Bank loans > 5 yrs
20,889
5,834

44,206
47,498


Page 7

 
MUSGRAVE VENTURES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

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 cost charge represents contributions payable by the company to the fund and amounted to £5,849 (2022 - £5,117)


11.


Controlling party

The ultimate parent company is Muston Capital Limited, a private limited company incorporated in the Isle of Man (registered number: 127656C). The registered office address is 36 Hope Street, Douglas, Isle of Man, IM1 1AR. 

 
Page 8