Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseNo description of principal activity33false SC613987 2022-04-01 2023-03-31 SC613987 2021-04-01 2022-03-31 SC613987 2023-03-31 SC613987 2022-03-31 SC613987 c:Director1 2022-04-01 2023-03-31 SC613987 c:Director2 2022-04-01 2023-03-31 SC613987 c:Director3 2022-04-01 2023-03-31 SC613987 c:Director3 2023-03-31 SC613987 c:RegisteredOffice 2022-04-01 2023-03-31 SC613987 d:PlantMachinery 2022-04-01 2023-03-31 SC613987 d:PlantMachinery 2023-03-31 SC613987 d:PlantMachinery 2022-03-31 SC613987 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC613987 d:MotorVehicles 2022-04-01 2023-03-31 SC613987 d:MotorVehicles 2023-03-31 SC613987 d:MotorVehicles 2022-03-31 SC613987 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC613987 d:ComputerEquipment 2022-04-01 2023-03-31 SC613987 d:ComputerEquipment 2023-03-31 SC613987 d:ComputerEquipment 2022-03-31 SC613987 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC613987 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 SC613987 d:CurrentFinancialInstruments 2023-03-31 SC613987 d:CurrentFinancialInstruments 2022-03-31 SC613987 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 SC613987 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 SC613987 d:ShareCapital 2023-03-31 SC613987 d:ShareCapital 2022-03-31 SC613987 d:RetainedEarningsAccumulatedLosses 2023-03-31 SC613987 d:RetainedEarningsAccumulatedLosses 2022-03-31 SC613987 c:OrdinaryShareClass1 2022-04-01 2023-03-31 SC613987 c:OrdinaryShareClass1 2023-03-31 SC613987 c:OrdinaryShareClass1 2022-03-31 SC613987 c:FRS102 2022-04-01 2023-03-31 SC613987 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 SC613987 c:FullAccounts 2022-04-01 2023-03-31 SC613987 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC613987










SK-IHS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
SK-IHS LTD
 

COMPANY INFORMATION


Directors
Mrs S Gunn 
Mr K Collin 
Ms K Collin (resigned 1 March 2023)




Registered number
SC613987



Registered office
20 Marjorys Avenue
Chapel

Kirkcaldy

Fife

KY2 6ZJ




Accountants
EQ Accountants LLP
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
SK-IHS LTD
REGISTERED NUMBER: SC613987

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
£
£

Fixed assets
  

Tangible assets
 4 
12,676
17,555

  
12,676
17,555

Current assets
  

Debtors: amounts falling due within one year
 5 
104,211
120,570

Bank and cash balances
  
288,415
259,953

  
392,626
380,523

Creditors: amounts falling due within one year
 6 
(93,225)
(93,703)

Net current assets
  
 
 
299,401
 
 
286,820

Total assets less current liabilities
  
312,077
304,375

Provisions for liabilities
  

Deferred tax
  
(3,169)
(3,335)

  
 
 
(3,169)
 
 
(3,335)

Net assets
  
308,908
301,040


Capital and reserves
  

Called up share capital 
 7 
2
2

Profit and loss account
  
308,906
301,038

  
308,908
301,040

Page 1

 
SK-IHS LTD
REGISTERED NUMBER: SC613987

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 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 by: 




Mrs S Gunn
Director

Date: 18 September 2023

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
SK-IHS LTD
 

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

1.


General information

The Company is limited by shares and incorporated in Scotland; Refistration Number SC613987. The registered office is 20 Marjorys Avenue, Chapel, Kirkcaldy, United Kingdom, KY2 6ZJ.
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

Turnover

Turnover 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. 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 revenue 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 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

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.

 
2.4

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 income and retained earnings in the same period as the related expenditure.

Page 3

 
SK-IHS LTD
 

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

2.Accounting policies (continued)

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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 reporting date.

 
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.

Page 4

 
SK-IHS LTD
 

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

2.Accounting policies (continued)


2.7
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 and reducing balance method..

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Straight line
Motor vehicles
-
25%
Reducing balance
Computer equipment
-
33%
Straight line

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.

 
2.8

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.

 
2.9

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 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.

 
2.10

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 period was 3 (2022 - 3).

Page 5

 
SK-IHS LTD
 

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

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
35,633
3,995
1,274
40,902


Additions
5,264
-
-
5,264


Disposals
-
(3,995)
-
(3,995)



At 31 March 2023

40,897
-
1,274
42,171



Depreciation


At 1 April 2022
21,615
1,570
162
23,347


Charge for the year on owned assets
7,294
86
424
7,804


Disposals
-
(1,656)
-
(1,656)



At 31 March 2023

28,909
-
586
29,495



Net book value



At 31 March 2023
11,988
-
688
12,676



At 31 March 2022
14,018
2,425
1,112
17,555


5.


Debtors

2023
2022
£
£


Trade debtors
71,781
97,678

Other debtors
180
-

Prepayments and accrued income
32,250
22,892

104,211
120,570


Page 6

 
SK-IHS LTD
 

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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
16,884
15,199

Other taxation and social security
57,673
67,098

Other creditors
1,070
936

Accruals and deferred income
17,598
10,470

93,225
93,703



7.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



2 (2022 - 2) Ordinary shares of £1.00 each
2
2



Page 7