Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01falseNo description of principal activity2321truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01887689 2022-04-01 2023-03-31 01887689 2021-04-01 2022-03-31 01887689 2023-03-31 01887689 2022-03-31 01887689 c:CompanySecretary1 2022-04-01 2023-03-31 01887689 c:Director1 2022-04-01 2023-03-31 01887689 c:RegisteredOffice 2022-04-01 2023-03-31 01887689 c:Agent1 2022-04-01 2023-03-31 01887689 d:PlantMachinery 2022-04-01 2023-03-31 01887689 d:PlantMachinery 2023-03-31 01887689 d:PlantMachinery 2022-03-31 01887689 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01887689 d:MotorVehicles 2022-04-01 2023-03-31 01887689 d:MotorVehicles 2023-03-31 01887689 d:MotorVehicles 2022-03-31 01887689 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01887689 d:FurnitureFittings 2022-04-01 2023-03-31 01887689 d:FurnitureFittings 2023-03-31 01887689 d:FurnitureFittings 2022-03-31 01887689 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01887689 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 01887689 d:CurrentFinancialInstruments 2023-03-31 01887689 d:CurrentFinancialInstruments 2022-03-31 01887689 d:Non-currentFinancialInstruments 2023-03-31 01887689 d:Non-currentFinancialInstruments 2022-03-31 01887689 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01887689 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 01887689 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01887689 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 01887689 d:ShareCapital 2023-03-31 01887689 d:ShareCapital 2022-03-31 01887689 d:CapitalRedemptionReserve 2023-03-31 01887689 d:CapitalRedemptionReserve 2022-03-31 01887689 d:RetainedEarningsAccumulatedLosses 2023-03-31 01887689 d:RetainedEarningsAccumulatedLosses 2022-03-31 01887689 c:FRS102 2022-04-01 2023-03-31 01887689 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01887689 c:FullAccounts 2022-04-01 2023-03-31 01887689 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01887689 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01887689 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 01887689 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 01887689









MONOLACE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
MONOLACE LIMITED
 
 
COMPANY INFORMATION


Director
Mr B Balendra 




Company secretary
Mrs S Balendra



Registered number
01887689



Registered office
Tasker House
160 Westfield Road

Wellingborough

Northants

NN8 3HX




Trading Address
Tasker House
160 Westfield Road

Wellingborough

Northants

NN8 3HX






Accountants
Ashon Limited
Chartered Accountants

125 Knoll Crescent

Northwood

Middlesex

HA6 1HX




Bankers
National Westminster Bank plc
315 Station Road

Harrow

Middlesex

HA1 2AD





 
MONOLACE LIMITED
REGISTERED NUMBER: 01887689

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
50,337
59,421

  
50,337
59,421

Current assets
  

Debtors
 5 
83,092
28,946

Cash at bank and in hand
 6 
122,437
575,257

  
205,529
604,203

Creditors: amounts falling due within one year
 7 
(168,088)
(166,406)

Net current assets
  
 
 
37,441
 
 
437,797

Total assets less current liabilities
  
87,778
497,218

Creditors: amounts falling due after more than one year
 8 
-
(432,084)

Provisions for liabilities
  

Deferred tax
 9 
(9,564)
(1,374)

  
 
 
(9,564)
 
 
(1,374)

Net assets
  
78,214
63,760

Page 1

 
MONOLACE LIMITED
REGISTERED NUMBER: 01887689
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
7,600
7,600

Capital redemption reserve
  
7,400
7,400

Profit and loss account
  
63,214
48,760

  
78,214
63,760


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 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 on 26 July 2023.





................................................
Mr B Balendra
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

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

1.


General information

The company is a private company lmited by share capital, incorporated in England & Wales. The
company number and registered office address are:
Company number:                  01887689
Registered office address: Tasker House
                                             160 Westfield Road
                                              Wellingborough
                                              Northants
                                              NN8 3HX

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

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.

 
2.4

Interest income

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

Page 3

 
MONOLACE LIMITED
 
 
 
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 income 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.

Page 4

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

2.Accounting policies (continued)

 
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 charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
15%
reducing balance basis
Motor vehicles
-
20%
straight line basis
Fixtures & fittings
-
15%
reducing balance basis

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

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.

 
2.9

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.

 
2.10

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.

Page 5

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

2.Accounting policies (continued)

 
2.11

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.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.13

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 23 (2022 - 21).

Page 6

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

4.


Tangible fixed assets





Plant & equipment
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2022
53,676
52,190
23,393
129,259



At 31 March 2023

53,676
52,190
23,393
129,259



Depreciation


At 1 April 2022
46,601
-
23,237
69,838


Charge for the year on owned assets
1,061
8,000
23
9,084



At 31 March 2023

47,662
8,000
23,260
78,922



Net book value



At 31 March 2023
6,014
44,190
133
50,337



At 31 March 2022
7,075
52,190
156
59,421

Page 7

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

5.


Debtors


2023
2022
£
£



Trade debtors
3,709
-

Amounts owed by group undertakings
56,916
-

Other debtors
22,467
22,440

Prepayments and accrued income
-
6,506

83,092
28,946



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
122,437
575,257

122,437
575,257



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
52,259
49,139

Corporation tax
66,084
65,382

Other taxation and social security
5,095
4,550

Other creditors
10,260
12,227

Accruals and deferred income
34,390
35,108

168,088
166,406



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts owed to group undertakings
-
432,084

-
432,084


Page 8

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

9.


Deferred taxation




2023


£






At beginning of year
(1,374)


Charged to profit or loss
(8,190)



At end of year
(9,564)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(9,564)
(1,374)

(9,564)
(1,374)


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 £6,758 (2022 - £6,176). 


11.


Controlling party

The company's parent company is BPS Care Homes Limited, a company incorporated in England &
Wales.

 
Page 9