Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31No description of principal activityfalse112022-04-01false12trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02128305 2022-04-01 2023-03-31 02128305 2021-04-01 2022-03-31 02128305 2023-03-31 02128305 2022-03-31 02128305 c:Director1 2022-04-01 2023-03-31 02128305 c:Director2 2022-04-01 2023-03-31 02128305 d:PlantMachinery 2022-04-01 2023-03-31 02128305 d:PlantMachinery 2023-03-31 02128305 d:PlantMachinery 2022-03-31 02128305 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02128305 d:MotorVehicles 2022-04-01 2023-03-31 02128305 d:MotorVehicles 2023-03-31 02128305 d:MotorVehicles 2022-03-31 02128305 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02128305 d:ComputerEquipment 2022-04-01 2023-03-31 02128305 d:ComputerEquipment 2023-03-31 02128305 d:ComputerEquipment 2022-03-31 02128305 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02128305 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 02128305 d:CurrentFinancialInstruments 2023-03-31 02128305 d:CurrentFinancialInstruments 2022-03-31 02128305 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02128305 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 02128305 d:ShareCapital 2023-03-31 02128305 d:ShareCapital 2022-03-31 02128305 d:RetainedEarningsAccumulatedLosses 2023-03-31 02128305 d:RetainedEarningsAccumulatedLosses 2022-03-31 02128305 c:FRS102 2022-04-01 2023-03-31 02128305 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 02128305 c:FullAccounts 2022-04-01 2023-03-31 02128305 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02128305 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02128305 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 iso4217:GBP xbrli:pure

Registered number: 02128305










C.V.S. (ANGLIA) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
C.V.S. (ANGLIA) LIMITED
REGISTERED NUMBER: 02128305

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
97,958
107,554

  
97,958
107,554

Current assets
  

Stocks
  
2,000
2,000

Debtors: amounts falling due within one year
 5 
132,993
130,056

Current asset investments
 6 
99,403
50,000

Cash at bank and in hand
  
209,483
193,393

  
443,879
375,449

Creditors: amounts falling due within one year
 7 
(70,426)
(67,721)

Net current assets
  
 
 
373,453
 
 
307,728

Total assets less current liabilities
  
471,411
415,282

Provisions for liabilities
  

Deferred tax
 8 
(25,323)
(20,409)

  
 
 
(25,323)
 
 
(20,409)

Net assets
  
446,088
394,873


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
445,988
394,773

  
446,088
394,873


Page 1

 
C.V.S. (ANGLIA) LIMITED
REGISTERED NUMBER: 02128305
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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 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 income statement 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 M Howes
................................................
Mrs P Howes
Director
Director


Date: 29 September 2023

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

C.V.S. (Anglia) Limited is a private company limited by shares and incorporated in England and Wales, registration number 02128305. The registered office is 15 Holywells Road, Ipswich, Suffolk, IP3 0DL.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

Going concern

The Directors have considered the Company's position at the time of signing the financial statements, and based on this, the Directors have concluded that they have a reasonable expectation that the Company will have adequate resources to continue in operational existance for the forseeable future and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

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 Income statement in the same period as the related expenditure.

 
2.6

Pensions

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays a fixed contribution into a separate entity. Once the contributions have been paid the company has no further payment obligations. 

 
2.7

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 provided on the following basis:

Plant & machinery
-
15% on written down value
Motor vehicles
-
25% on written down value
Computer equipment
-
33% straight line

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the cost of purchase. 
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

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.

 
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.

Page 4

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly
Page 5

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments
Page 6

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)


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.

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 11).

Page 7

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
270,830
142,751
8,475
422,056


Additions
1,340
14,450
83
15,873


Disposals
-
(14,491)
-
(14,491)



At 31 March 2023

272,170
142,710
8,558
423,438



Depreciation


At 1 April 2022
227,396
80,099
7,007
314,502


Charge for the year on owned assets
6,625
16,529
620
23,774


Disposals
-
(12,796)
-
(12,796)



At 31 March 2023

234,021
83,832
7,627
325,480



Net book value



At 31 March 2023
38,149
58,878
931
97,958



At 31 March 2022
43,434
62,652
1,468
107,554

Page 8

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
9,131
18,282

Other debtors
113,687
104,390

Prepayments and accrued income
10,175
7,384

132,993
130,056



6.


Current asset investments

2023
2022
£
£

Unlisted investments
99,403
50,000

99,403
50,000



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
50,457
45,324

Corporation tax
5,100
7,584

Other taxation and social security
8,617
9,416

Other creditors
2,542
2,022

Accruals and deferred income
3,710
3,375

70,426
67,721


Page 9

 
C.V.S. (ANGLIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Deferred taxation




2023


£






At beginning of year
(20,409)


Charged to profit or loss
(4,914)



At end of year
(25,323)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(25,323)
(20,409)

(25,323)
(20,409)

 
Page 10