Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-312022-01-01falseNo description of principal activity1314truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02435309 2022-01-01 2022-12-31 02435309 2021-01-01 2021-12-31 02435309 2022-12-31 02435309 2021-12-31 02435309 c:Director3 2022-01-01 2022-12-31 02435309 d:MotorVehicles 2022-01-01 2022-12-31 02435309 d:MotorVehicles 2022-12-31 02435309 d:MotorVehicles 2021-12-31 02435309 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02435309 d:OfficeEquipment 2022-01-01 2022-12-31 02435309 d:OfficeEquipment 2022-12-31 02435309 d:OfficeEquipment 2021-12-31 02435309 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02435309 d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 02435309 d:Goodwill 2022-01-01 2022-12-31 02435309 d:Goodwill 2022-12-31 02435309 d:Goodwill 2021-12-31 02435309 d:CurrentFinancialInstruments 2022-12-31 02435309 d:CurrentFinancialInstruments 2021-12-31 02435309 d:Non-currentFinancialInstruments 2022-12-31 02435309 d:Non-currentFinancialInstruments 2021-12-31 02435309 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02435309 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 02435309 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02435309 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 02435309 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 02435309 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 02435309 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 02435309 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2021-12-31 02435309 d:ShareCapital 2022-12-31 02435309 d:ShareCapital 2021-12-31 02435309 d:CapitalRedemptionReserve 2022-12-31 02435309 d:CapitalRedemptionReserve 2021-12-31 02435309 d:RetainedEarningsAccumulatedLosses 2022-12-31 02435309 d:RetainedEarningsAccumulatedLosses 2021-12-31 02435309 c:FRS102 2022-01-01 2022-12-31 02435309 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 02435309 c:FullAccounts 2022-01-01 2022-12-31 02435309 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 02435309 d:WithinOneYear 2022-12-31 02435309 d:WithinOneYear 2021-12-31 02435309 d:BetweenOneFiveYears 2022-12-31 02435309 d:BetweenOneFiveYears 2021-12-31 02435309 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 02435309 d:AcceleratedTaxDepreciationDeferredTax 2021-12-31 02435309 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 02435309 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2021-12-31 02435309 d:LeasedAssetsHeldAsLessee 2022-12-31 02435309 d:LeasedAssetsHeldAsLessee 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 02435309









GERRARD CHAUFFEUR DRIVE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
GERRARD CHAUFFEUR DRIVE LIMITED
REGISTERED NUMBER: 02435309

BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 5 
1,629,295
1,275,900

  
1,629,295
1,275,900

Current assets
  

Debtors: amounts falling due within one year
 6 
4,096,958
3,883,501

Cash at bank and in hand
  
154,692
200,659

  
4,251,650
4,084,160

Creditors: amounts falling due within one year
 7 
(2,251,052)
(1,490,027)

Net current assets
  
 
 
2,000,598
 
 
2,594,133

Total assets less current liabilities
  
3,629,893
3,870,033

Creditors: amounts falling due after more than one year
 8 
(620,177)
(805,224)

  

Net assets
  
3,009,716
3,064,809


Capital and reserves
  

Called up share capital 
  
105,468
140,624

Capital redemption reserve
  
35,156
-

Profit and loss account
  
2,869,092
2,924,185

  
3,009,716
3,064,809

Page 1

 
GERRARD CHAUFFEUR DRIVE LIMITED
REGISTERED NUMBER: 02435309
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

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 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 29 September 2023.

S D Beecroft
Director

The notes on pages 3 to 11 form part of these financial statements.
Page 2

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Gerrard Chauffeur Drive Limited (the Company) ia a private company, limited by shares, registered in the United Kingdom under the Companies Act. The registered office is: 1 The Green, Richmond, Surrey, TW9 1PL.

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

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'.

Page 3

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
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.

Page 4

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

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.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other 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.

 
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.

Page 5

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.10
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:

Motor vehicles
-
20%
Office equipment
-
25%

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2021 - 14).

Page 6

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2022
357,954



At 31 December 2022

357,954



Amortisation


At 1 January 2022
357,954



At 31 December 2022

357,954



Net book value



At 31 December 2022
-



At 31 December 2021
-



Page 7

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2022
2,470,462
272,656
2,743,118


Additions
904,101
28,730
932,831


Disposals
(369,275)
-
(369,275)



At 31 December 2022

3,005,288
301,386
3,306,674



Depreciation


At 1 January 2022
1,225,163
242,056
1,467,219


Charge for the year on owned assets
394,991
35,858
430,849


Disposals
(220,689)
-
(220,689)



At 31 December 2022

1,399,465
277,914
1,677,379



Net book value



At 31 December 2022
1,605,823
23,472
1,629,295



At 31 December 2021
1,245,299
30,600
1,275,899

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2022
2021
£
£



Motor vehicles
1,545,411
1,128,195

1,545,411
1,128,195

Page 8

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Debtors

2022
2021
£
£


Trade debtors
1,331,005
518,993

Other debtors
2,260,548
2,853,480

Prepayments and accrued income
42,460
48,083

Deferred taxation
462,945
462,945

4,096,958
3,883,501


Included within other debtors is an amount of £1,757,961 (2021: £1,757,961) in relation to amounts owing from the Employee Benefit Trust.


7.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
31,256
16,819

Bank loans
128,967
179,996

Trade creditors
500,539
201,139

Corporation tax
365,602
17,487

Other taxation and social security
350,307
381,445

Obligations under finance lease and hire purchase contracts
806,728
507,731

Other creditors
38,053
177,210

Accruals and deferred income
29,600
8,200

2,251,052
1,490,027



8.


Creditors: Amounts falling due after more than one year

2022
2021
£
£

Bank loans
241,677
341,673

Net obligations under finance leases and hire purchase contracts
378,500
463,551

620,177
805,224


Page 9

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

9.


Loans


Analysis of the maturity of loans is given below:


2022
2021
£
£

Amounts falling due within one year

Bank loans
128,967
179,996


128,967
179,996

Amounts falling due 1-2 years

Bank loans
99,996
99,996


99,996
99,996

Amounts falling due 2-5 years

Bank loans
141,681
241,677


141,681
241,677


370,644
521,669



10.


Deferred taxation




2022


£






At beginning of year
462,945



At end of year
462,945

The deferred tax asset is made up as follows:

2022
2021
£
£


Accelerated capital allowances
462,945
462,945

462,945
462,945

Page 10

 
GERRARD CHAUFFEUR DRIVE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

11.


Commitments under operating leases

At 31 December 2022 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2022
2021
£
£


Not later than 1 year
60,000
60,000

Later than 1 year and not later than 5 years
90,000
150,000

150,000
210,000


12.


Controlling party

The ultimate parent company is Gerrard Chauffeur Services Limited, a company incorporated in England and Wales. The company's registered officed is 1 The Green, Richmond, Surrey, TW9 1PL.
 
Page 11