Caseware UK (AP4) 2022.0.179 2022.0.179 2022-10-302022-10-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.18Other retail sales not in stores, stalls or markets2021-11-01false19falsetrue 08047089 2021-11-01 2022-10-30 08047089 2020-11-01 2021-10-31 08047089 2022-10-30 08047089 2021-10-31 08047089 c:Director1 2021-11-01 2022-10-30 08047089 c:Director2 2021-11-01 2022-10-30 08047089 d:Buildings 2021-11-01 2022-10-30 08047089 d:Buildings 2022-10-30 08047089 d:Buildings 2021-10-31 08047089 d:Buildings d:OwnedOrFreeholdAssets 2021-11-01 2022-10-30 08047089 d:PlantMachinery 2021-11-01 2022-10-30 08047089 d:PlantMachinery 2022-10-30 08047089 d:PlantMachinery 2021-10-31 08047089 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-11-01 2022-10-30 08047089 d:ComputerEquipment 2021-11-01 2022-10-30 08047089 d:ComputerEquipment 2022-10-30 08047089 d:ComputerEquipment 2021-10-31 08047089 d:ComputerEquipment d:OwnedOrFreeholdAssets 2021-11-01 2022-10-30 08047089 d:OwnedOrFreeholdAssets 2021-11-01 2022-10-30 08047089 d:CurrentFinancialInstruments 2022-10-30 08047089 d:CurrentFinancialInstruments 2021-10-31 08047089 d:Non-currentFinancialInstruments 2022-10-30 08047089 d:Non-currentFinancialInstruments 2021-10-31 08047089 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-30 08047089 d:CurrentFinancialInstruments d:WithinOneYear 2021-10-31 08047089 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-30 08047089 d:Non-currentFinancialInstruments d:AfterOneYear 2021-10-31 08047089 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-10-30 08047089 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2021-10-31 08047089 d:ShareCapital 2022-10-30 08047089 d:ShareCapital 2021-10-31 08047089 d:SharePremium 2022-10-30 08047089 d:SharePremium 2021-10-31 08047089 d:RetainedEarningsAccumulatedLosses 2022-10-30 08047089 d:RetainedEarningsAccumulatedLosses 2021-10-31 08047089 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-10-30 08047089 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-10-31 08047089 c:FRS102 2021-11-01 2022-10-30 08047089 c:AuditExempt-NoAccountantsReport 2021-11-01 2022-10-30 08047089 c:FullAccounts 2021-11-01 2022-10-30 08047089 c:PrivateLimitedCompanyLtd 2021-11-01 2022-10-30 08047089 2 2021-11-01 2022-10-30 iso4217:GBP xbrli:pure
Registered number: 08047089














FULLY CHARGED LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE PERIOD ENDED 30 OCTOBER 2022

 
FULLY CHARGED LIMITED
REGISTERED NUMBER: 08047089

BALANCE SHEET
AS AT 30 OCTOBER 2022

30 October
31 October
2022
2021
Note

Fixed assets
  

Tangible assets
 4 
336,672
333,206

Current assets
  

Stocks
  
1,420,015
991,012

Debtors: amounts falling due within one year
 5 
291,165
101,523

Cash at bank and in hand
 6 
62,339
85,218

  
1,773,519
1,177,753

Creditors: amounts falling due within one year
 7 
(1,826,204)
(1,252,836)

Net current liabilities
  
 
 
(52,685)
 
 
(75,083)

Total assets less current liabilities
  
283,987
258,123

Creditors: amounts falling due after more than one year
 8 
(122,127)
(156,667)

  

Net assets
  
£161,860
£101,456


Capital and reserves
  

Called up share capital 
  
110
110

Share premium account
  
2,490
2,490

Profit and loss account
  
159,260
98,856

  
£161,860
£101,456


Page 1

 
FULLY CHARGED LIMITED
REGISTERED NUMBER: 08047089

BALANCE SHEET (CONTINUED)
AS AT 30 OCTOBER 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 period 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 13 October 2023.



B P Jaconelli
D Parsons
Director
Director

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

Page 2

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

1.


General information

Fully Charged Limited is a private company, limited by shares, incorporated in England and Wales. The registered number is 08047089. The registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH.

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

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 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:

Sale of goods

Revenue 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 revenue 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

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

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.

 
2.6

Interest income

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

Page 4

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

2.Accounting policies (continued)

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.9

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.

 
2.10

Taxation

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.

 
2.11

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, as follows..

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Reducing balance
Computer equipment
-
20%
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.

Page 5

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

2.Accounting policies (continued)

 
2.12

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 profit or loss.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

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 Balance Sheet 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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Page 6

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

2.Accounting policies (continued)


2.16
Financial instruments (continued)

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.

 
2.17

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 19 (2021 - 18).

Page 7

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

4.


Tangible fixed assets







Land and Buildings
Plant and machinery
Computer equipment
Total



Cost or valuation


At 1 November 2021
247,328
92,241
20,713
360,282


Additions
10,238
6,448
10,146
26,832



At 30 October 2022

257,566
98,689
30,859
387,114



Depreciation


At 1 November 2021
-
24,181
2,896
27,077


Charge for the period on owned assets
-
18,150
5,215
23,365



At 30 October 2022

-
42,331
8,111
50,442



Net book value



At 30 October 2022
£257,566
£56,358
£22,748
£336,672



At 31 October 2021
£247,328
£68,061
£17,817
£333,206


5.


Debtors

30 October
31 October
2022
2021


Trade debtors
40,692
1,459

Other debtors
212,894
100,064

Prepayments and accrued income
37,579
-

£291,165
£101,523



6.


Cash and cash equivalents

30 October
31 October
2022
2021

Cash at bank and in hand
62,339
85,218

£62,339
£85,218


Page 8

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

7.


Creditors: Amounts falling due within one year

30 October
31 October
2022
2021

Bank loans
40,000
40,000

Other loans
450,000
300,000

Trade creditors
829,880
580,322

Corporation tax
48,612
15,111

Other taxation and social security
322,304
119,716

Other creditors
70,442
197,687

Accruals and deferred income
64,966
-

£1,826,204
£1,252,836


The following liabilities were secured:

30 October
31 October
2022
2021



Bank loan and overdrafts
40,000
40,000

Other Loans
450,000
300,000

490,000
340,000

Details of security provided:

Bank loans and overdrafts are secured by way of floating charge over all property and undertakings of the company.

Page 9

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

8.


Creditors: Amounts falling due after more than one year

30 October
31 October
2022
2021

Bank loans
122,127
156,667

£122,127
£156,667


The following liabilities were secured:

30 October
31 October
2022
2021



Bank loans
122,127
156,667

122,127
156,667

Details of security provided:

Bank loans and overdrafts are secured by way of floating charge over all property and undertakings of the company.


9.


Loans


Analysis of the maturity of loans is given below:


30 October
31 October
2022
2021

Amounts falling due within one year

Bank loans
40,000
40,000

Other loans
450,000
300,000


490,000
340,000



Amounts falling due after more than 5 years

Bank loans
122,127
156,667

122,127
156,667

£612,127
£496,667


Page 10

 
FULLY CHARGED LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 OCTOBER 2022

10.


Financial instruments

30 October
31 October
2022
2021

Financial assets


Financial assets measured at fair value through profit or loss
£62,339
£85,218




Financial assets measured at fair value through profit or loss comprise bank and cash balances.


11.


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 £10,634 (2021 - £9,098). Contributions totalling £2,265 (2021 - £1,836) were payable to the fund at the balance sheet date and are included in creditors.


Page 11