Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31No description of principal activity2022-02-01false4837truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02641951 2022-02-01 2023-01-31 02641951 2021-02-01 2022-01-31 02641951 2023-01-31 02641951 2022-01-31 02641951 2021-02-01 02641951 c:Director1 2022-02-01 2023-01-31 02641951 c:RegisteredOffice 2022-02-01 2023-01-31 02641951 d:Buildings d:ShortLeaseholdAssets 2022-02-01 2023-01-31 02641951 d:Buildings d:ShortLeaseholdAssets 2023-01-31 02641951 d:Buildings d:ShortLeaseholdAssets 2022-01-31 02641951 d:PlantMachinery 2022-02-01 2023-01-31 02641951 d:PlantMachinery 2023-01-31 02641951 d:PlantMachinery 2022-01-31 02641951 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02641951 d:MotorVehicles 2022-02-01 2023-01-31 02641951 d:MotorVehicles 2023-01-31 02641951 d:MotorVehicles 2022-01-31 02641951 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02641951 d:FurnitureFittings 2022-02-01 2023-01-31 02641951 d:FurnitureFittings 2023-01-31 02641951 d:FurnitureFittings 2022-01-31 02641951 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02641951 d:OfficeEquipment 2022-02-01 2023-01-31 02641951 d:OfficeEquipment 2023-01-31 02641951 d:OfficeEquipment 2022-01-31 02641951 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02641951 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 02641951 d:CurrentFinancialInstruments 2023-01-31 02641951 d:CurrentFinancialInstruments 2022-01-31 02641951 d:Non-currentFinancialInstruments 2023-01-31 02641951 d:Non-currentFinancialInstruments 2022-01-31 02641951 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 02641951 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 02641951 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 02641951 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 02641951 d:ShareCapital 2023-01-31 02641951 d:ShareCapital 2022-01-31 02641951 d:CapitalRedemptionReserve 2023-01-31 02641951 d:CapitalRedemptionReserve 2022-01-31 02641951 d:RetainedEarningsAccumulatedLosses 2023-01-31 02641951 d:RetainedEarningsAccumulatedLosses 2022-01-31 02641951 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 02641951 d:AcceleratedTaxDepreciationDeferredTax 2022-01-31 02641951 c:OrdinaryShareClass1 2022-02-01 2023-01-31 02641951 c:OrdinaryShareClass1 2023-01-31 02641951 c:OrdinaryShareClass1 2022-01-31 02641951 c:OrdinaryShareClass2 2022-02-01 2023-01-31 02641951 c:OrdinaryShareClass2 2023-01-31 02641951 c:OrdinaryShareClass2 2022-01-31 02641951 c:OrdinaryShareClass3 2022-02-01 2023-01-31 02641951 c:OrdinaryShareClass3 2023-01-31 02641951 c:OrdinaryShareClass3 2022-01-31 02641951 c:OrdinaryShareClass4 2022-02-01 2023-01-31 02641951 c:OrdinaryShareClass4 2023-01-31 02641951 c:OrdinaryShareClass4 2022-01-31 02641951 c:OrdinaryShareClass5 2022-02-01 2023-01-31 02641951 c:OrdinaryShareClass5 2023-01-31 02641951 c:OrdinaryShareClass5 2022-01-31 02641951 c:FRS102 2022-02-01 2023-01-31 02641951 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 02641951 c:FullAccounts 2022-02-01 2023-01-31 02641951 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 02641951 d:WithinOneYear 2023-01-31 02641951 d:WithinOneYear 2022-01-31 02641951 d:BetweenOneFiveYears 2023-01-31 02641951 d:BetweenOneFiveYears 2022-01-31 02641951 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 02641951 d:HirePurchaseContracts d:WithinOneYear 2022-01-31 02641951 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 02641951 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-01-31 02641951 2 2022-02-01 2023-01-31 02641951 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 02641951 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-01-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02641951


 

CAMEO COMPUTER SERVICES (UK) LIMITED
 
UNAUDITED
 
FINANCIAL STATEMENTS
 
FOR THE YEAR ENDED 31 JANUARY 2023

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

COMPANY INFORMATION


Director
L H H Horton-Walker 




Registered number
02641951



Registered office
Unit 1 Estley Green Industrial Estate
Box Road

Broughton Astley

LE9 6TJ




Accountants
Cooper Parry Advisory Limited

Sky View

Argosy Road

East Midlands Airport

Castle Donington

Derby

DE74 2SA





 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 11


 
CAMEO COMPUTER SERVICES (UK) LIMITED
REGISTERED NUMBER: 02641951

BALANCE SHEET
AS AT 31 JANUARY 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
960,797
261,162

 
Current assets
  

Stocks
  
520,521
547,896

Debtors
 5 
3,943,717
2,216,558

Cash at bank and in hand
  
405,709
371,547

  
4,869,947
3,136,001

Creditors: amounts falling due within one year
 6 
(2,843,944)
(1,343,056)

Net current assets
  
 
 
2,026,003
 
 
1,792,945

Total assets less current liabilities
  
2,986,800
2,054,107

Creditors: amounts falling due after more than one year
 7 
(621,472)
(248,280)

 
Provisions for liabilities
  

Deferred tax
 9 
(187,977)
(42,187)

Net assets
  
2,177,351
1,763,640


Capital and reserves
  

Called up share capital 
 10 
130,540
130,540

Capital redemption reserve
  
67,560
67,560

Profit and loss account
  
1,979,251
1,565,540

  
2,177,351
1,763,640


Page 1

 
CAMEO COMPUTER SERVICES (UK) LIMITED
REGISTERED NUMBER: 02641951

BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 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 profit and loss account 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: 




L H H Horton-Walker
Director

Date: 5 October 2023

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

Page 2

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

Cameo Computer Services (UK) Limited is a limited company incorporated and domiciled in the United Kingdom and registered in England and Wales. The address of its registered office is Unit 1 Estley Green Industrial EstateBox RoadBroughton AstleyLE9 6TJ.

The financial statements are prepared in Sterling (£), which is the functional currency of the company.

The financial statements are for the year ended 31 January 2023 (2022: year ended 31 January 2022).  

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

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operation for the foreseeable future. Thus, the director continues to adopt the going concern basis of accounting in preparing the 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:

Sale of goods

Turnover 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 turnover 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.

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.

Page 3

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

  
2.4

Foreign currency translation

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

 
2.5

Operating leases: the company as lessee

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

 
2.6

Interest income

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

 
2.7

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.

 
2.8

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 the profit and loss account 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.

 
2.9

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.

 
2.10

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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the profit and loss account during the period in which they are incurred.

Page 4

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

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:

Improvements to property
-
25%
Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%
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 the profit and loss account.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet 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 the profit and loss account

 
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 the profit and loss account 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.

 
2.13

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors and creditors and loans with related parties.
All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Page 5

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account 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 48 (2022: 37).

Page 6

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Improvements to property
Plant and machinery
Fixtures and fittings
Motor vehicles
Office equipment
Total

£
£
£
£
£
£



Cost


At 1 February 2022
-
84,554
320,820
174,486
-
579,860


Additions
45,647
30,101
5,184
735,329
20,782
837,043



At 31 January 2023

45,647
114,655
326,004
909,815
20,782
1,416,903



Depreciation


At 1 February 2022
-
77,663
199,958
41,077
-
318,698


Charge for the year
3,427
3,262
38,918
90,926
875
137,408



At 31 January 2023

3,427
80,925
238,876
132,003
875
456,106



Net book value



At 31 January 2023
42,220
33,730
87,128
777,812
19,907
960,797



At 31 January 2022
-
6,891
120,862
133,409
-
261,162

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


2023
2022
£
£



Motor vehicles
437,896
-


5.


Debtors

2023
2022
£
£


Trade debtors
1,864,586
548,830

Amounts owed by group undertakings
1,256,286
-

Other debtors
397,720
1,656,490

Prepayments and accrued income
425,125
11,238

3,943,717
2,216,558


Amounts owed by group undertakings are repayable on demand.

Page 7

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

6.


Creditors: Amounts falling due within one year

As restated
2023
2022
£
£

Trade creditors
323,366
88,180

Corporation tax
49,754
113,164

Other taxation and social security
481,501
151,527

Obligations under finance lease and hire purchase contracts
84,421
-

Other creditors
49,068
11,319

Accruals and deferred income
1,855,834
978,866

2,843,944
1,343,056



7.


Creditors: Amounts falling due after more than one year

As restated
2023
2022
£
£

Obligations under finance leases and hire purchase contracts
232,693
-

Accruals and deferred income
388,779
248,280

621,472
248,280


Secured creditors

HSBC UK Bank plc holds a fixed and floating charge over the company's assets in respect of all borrowings.

Net obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.


8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
84,421
-

Between 1-5 years
231,674
-

316,095
-

Page 8

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Deferred taxation




2023
2022


£

£






At the beginning of the financial year
42,187
18,765


Charged to the profit and loss account
145,790
23,422



At the end of the financial year
187,977
42,187

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
187,977
42,187


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



130,536 (2022: 130,536) Ordinary shares of £1.00 each
130,536
130,536
1 (2022: 1) Ordinary A share of £1.00
1
1
1 (2022: 1) Ordinary B share of £1.00
1
1
1 (2022: 1) Ordinary C share of £1.00
1
1
1 (2022: 1) Ordinary D share of £1.00
1
1

130,540

130,540

All share classes rank pari-passu in respect of voting rights, dividends and capital distributions.


Page 9

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

11.


Prior year adjustment

During the course of the preparation of these financial statements, further information was evidenced to warrant the following prior year adjustments:
ole14b5.png

An explanation as to why each adjustment was made is provided below:

Recognition of increased deferred income

Turnover on rendering of services had not been recognised in accordance with paragraph 23.15, which states that when services are performed by an indeterminate number of acts over a specified period of time, turnover should be recognised on a straight-line basis over the specified period unless there is evidence that some other method better represents the stage of completion. As a result, in the financial statements for the year ended 31 March 2022, turnover was understated by £350,000 and deferred income (within creditors: amounts falling due within one year), was understated by £350,000.

A prior year adjustment has been made to recognise this increase in deferred income, and the comparative figures for creditors: amounts falling due within one year and the profit and loss account have increased and decreased respectively by £350,000 compared to the amounts originally stated.

Time apportionment of deferred income

Deferred income had not been apportioned between creditors: amounts falling due within one year and creditors: amounts falling due after more than one year. As a result, in the financial statements for the year ended 31 March 2022, creditors: amounts falling due within one year and creditors: amounts falling due after more than one year were respectively overstated and understated by £242,280.

A prior year adjustment has been made to recognise this time apportionment of deferred income, and the comparative figures for creditors: amounts falling due within one year and creditors: amounts falling due after more than one year have decreased and increased respectively by £242,280 compared to the amounts originally stated.

Page 10

 
CAMEO COMPUTER SERVICES (UK) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

12.


Pension commitments

The company contributes to a defined contribution 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 scheme and amounted to £35,968 (2022: £27,426).
Contributions totalling £17,187 (2022: £3,758) were payable to the scheme at the balance sheet date and are included within other creditors.


13.


Commitments under operating leases

At 31 January 2023 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
88,629
66,888

Later than 1 year and not later than 5 years
27,921
54,983


14.


Related party transactions

The company has taken advantage of the disclosure exemption conferred within section 33 of FRS 102 in respect of disclosing transactions between wholly owned group companies.
Included within other debtors are the following amounts:
£145,892 (2022: £149,126) owed to the company by the director. This amount is unsecured, interest-free and is repayable on demand.

£Nil (2022: £610,883) owed to the company by a former director. This amount is unsecured, interest-free and is repayable on demand.


15.


Controlling party

The company's immediate and ultimate parent undertaking is Cameo Holdings Limited, by virtue of its ownership of the share capital of this company.


Page 11