Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-01-01falseNo description of principal activity1010truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI051815 2022-01-01 2023-03-31 NI051815 2021-01-01 2021-12-31 NI051815 2023-03-31 NI051815 2021-12-31 NI051815 c:Director1 2022-01-01 2023-03-31 NI051815 d:FurnitureFittings 2022-01-01 2023-03-31 NI051815 d:FurnitureFittings 2023-03-31 NI051815 d:FurnitureFittings 2021-12-31 NI051815 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-01-01 2023-03-31 NI051815 d:OfficeEquipment 2022-01-01 2023-03-31 NI051815 d:OfficeEquipment 2023-03-31 NI051815 d:OfficeEquipment 2021-12-31 NI051815 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2023-03-31 NI051815 d:ComputerEquipment 2022-01-01 2023-03-31 NI051815 d:ComputerEquipment 2023-03-31 NI051815 d:ComputerEquipment 2021-12-31 NI051815 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-01-01 2023-03-31 NI051815 d:OwnedOrFreeholdAssets 2022-01-01 2023-03-31 NI051815 d:Goodwill 2023-03-31 NI051815 d:Goodwill 2021-12-31 NI051815 d:CurrentFinancialInstruments 2023-03-31 NI051815 d:CurrentFinancialInstruments 2021-12-31 NI051815 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 NI051815 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 NI051815 d:ShareCapital 2023-03-31 NI051815 d:ShareCapital 2021-12-31 NI051815 d:RetainedEarningsAccumulatedLosses 2023-03-31 NI051815 d:RetainedEarningsAccumulatedLosses 2021-12-31 NI051815 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 NI051815 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 NI051815 c:FRS102 2022-01-01 2023-03-31 NI051815 c:AuditExempt-NoAccountantsReport 2022-01-01 2023-03-31 NI051815 c:FullAccounts 2022-01-01 2023-03-31 NI051815 c:PrivateLimitedCompanyLtd 2022-01-01 2023-03-31 NI051815 2 2022-01-01 2023-03-31 NI051815 6 2022-01-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: NI051815










UHY HACKER YOUNG FITCH LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
UHY HACKER YOUNG FITCH LIMITED
 

CONTENTS



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


 
UHY HACKER YOUNG FITCH LIMITED
REGISTERED NUMBER: NI051815

BALANCE SHEET
AS AT 31 MARCH 2023

31 March
31 December
2023
2021
Note
£
£

Fixed assets
  

Tangible assets
 5 
33,020
41,926

Investments
 6 
2
103

  
33,022
42,029

Current assets
  

Debtors: amounts falling due within one year
 7 
427,696
210,393

Cash at bank and in hand
 8 
330,073
256,225

  
757,769
466,618

Creditors: amounts falling due within one year
 9 
(569,141)
(270,752)

Net current assets
  
 
 
188,628
 
 
195,866

Total assets less current liabilities
  
221,650
237,895

Provisions for liabilities
  

Deferred tax
  
(6,399)
(8,124)

  
 
 
(6,399)
 
 
(8,124)

Net assets
  
215,251
229,771


Capital and reserves
  

Called up share capital 
  
104
102

Profit and loss account
  
215,147
229,669

  
215,251
229,771


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 comprehensive income 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: 

M C Fitch
Director

Page 1

 
UHY HACKER YOUNG FITCH LIMITED
REGISTERED NUMBER: NI051815

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

Date: 25 October 2023

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

Page 2

 
UHY HACKER YOUNG FITCH LIMITED
 

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

1.


General information

UHY Hacker Young Fitch Limited is a private company limited by shares and is incorporated and registered in Northern Ireland under Company Registration Number NI051815.
The company's registered office is situated at 27-29 Gordon Street, Belfast, BT1 2LG.

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 recognition

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

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

 
UHY HACKER YOUNG FITCH LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Current and deferred taxation

The tax expense for the period 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.

 
2.8

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.

 
2.9

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

 
UHY HACKER YOUNG FITCH LIMITED
 

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

2.Accounting policies (continued)


2.9
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:

Fixtures & fittings
-
20%
reducing balance
Office equipment
-
20%
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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each Balance Sheet. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each Balance Sheet. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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.

Page 5

 
UHY HACKER YOUNG FITCH LIMITED
 

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

2.Accounting policies (continued)

 
2.14

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 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.

 
2.15

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of comprehensive income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Page 6

 
UHY HACKER YOUNG FITCH LIMITED
 

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

2.Accounting policies (continued)

 
2.16

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 10 (2021 - 10).


4.


Intangible assets






Goodwill

£



Cost


At 1 January 2022
600,000



At 31 March 2023

600,000



Amortisation


At 1 January 2022
600,000



At 31 March 2023

600,000



Net book value



At 31 March 2023
-



At 31 December 2021
-



Page 7

 
UHY HACKER YOUNG FITCH LIMITED
 

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

5.


Tangible fixed assets







Fixtures & fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2022
105,992
65,866
93,553
265,411


Additions
-
-
6,141
6,141



At 31 March 2023

105,992
65,866
99,694
271,552



Depreciation


At 1 January 2022
95,619
45,252
82,614
223,485


Charge for the period on owned assets
2,883
4,947
7,217
15,047



At 31 March 2023

98,502
50,199
89,831
238,532



Net book value



At 31 March 2023
7,490
15,667
9,863
33,020



At 31 December 2021
10,373
20,614
10,939
41,926

Page 8

 
UHY HACKER YOUNG FITCH LIMITED
 

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

6.


Fixed asset investments








Investments in subsidiary companies
Unlisted investments
Total

£
£
£



Cost or valuation


At 1 January 2022
100
3
103


Disposals
(100)
(1)
(101)



At 31 March 2023
-
2
2




Page 9

 
UHY HACKER YOUNG FITCH LIMITED
 

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

7.


Debtors

31 March
31 December
2023
2021
£
£


Trade debtors
172,477
100,902

Other debtors
208,085
62,394

Prepayments and accrued income
47,134
47,097

427,696
210,393



8.


Cash and cash equivalents

31 March
31 December
2023
2021
£
£

Cash at bank and in hand
330,073
256,225

330,073
256,225



9.


Creditors: Amounts falling due within one year

31 March
31 December
2023
2021
£
£

Bank loans
33,248
45,340

Trade creditors
11,519
16,313

Corporation tax
105,799
42,758

Other taxation and social security
71,250
52,881

Other creditors
340,300
90,683

Accruals and deferred income
7,025
22,777

569,141
270,752


Page 10

 
UHY HACKER YOUNG FITCH LIMITED
 

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

10.


Loans



31 March
31 December
2023
2021
£
£

Amounts falling due within one year

Bank loans
33,248
45,340


33,248
45,340




33,248
45,340



11.


Financial instruments

31 March
31 December
2023
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
330,073
256,225




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


12.


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 £21,957 (2021 - £28,055).  Contributions totalling £2,319 (2021 - £1,252) were payable to the fund at the balance sheet date and are included in creditors.


13.


Controlling party

The ultimate controlling party is Michael C Fitch by virtue of his ordinary shareholding in the company. 


Page 11