Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31true2022-02-01falseNo description of principal activity11true 09826452 2022-02-01 2023-01-31 09826452 2021-02-01 2022-01-31 09826452 2023-01-31 09826452 2022-01-31 09826452 2021-02-01 09826452 1 2022-02-01 2023-01-31 09826452 1 2021-02-01 2022-01-31 09826452 d:Director1 2022-02-01 2023-01-31 09826452 e:PlantMachinery 2022-02-01 2023-01-31 09826452 e:PlantMachinery 2023-01-31 09826452 e:PlantMachinery 2022-01-31 09826452 e:PlantMachinery e:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09826452 e:MotorVehicles 2022-02-01 2023-01-31 09826452 e:ComputerEquipment 2022-02-01 2023-01-31 09826452 e:Goodwill 2022-02-01 2023-01-31 09826452 e:Goodwill 2023-01-31 09826452 e:Goodwill 2022-01-31 09826452 e:CurrentFinancialInstruments 2023-01-31 09826452 e:CurrentFinancialInstruments 2022-01-31 09826452 e:CurrentFinancialInstruments e:WithinOneYear 2023-01-31 09826452 e:CurrentFinancialInstruments e:WithinOneYear 2022-01-31 09826452 e:UKTax 2022-02-01 2023-01-31 09826452 e:UKTax 2021-02-01 2022-01-31 09826452 e:ShareCapital 2022-02-01 2023-01-31 09826452 e:ShareCapital 2023-01-31 09826452 e:ShareCapital 2021-02-01 2022-01-31 09826452 e:ShareCapital 2022-01-31 09826452 e:ShareCapital 2021-02-01 09826452 e:SharePremium 2022-02-01 2023-01-31 09826452 e:SharePremium 2023-01-31 09826452 e:SharePremium 2022-01-31 09826452 e:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 09826452 e:RetainedEarningsAccumulatedLosses 2023-01-31 09826452 e:RetainedEarningsAccumulatedLosses 2021-02-01 2022-01-31 09826452 e:RetainedEarningsAccumulatedLosses 2022-01-31 09826452 e:RetainedEarningsAccumulatedLosses 2021-02-01 09826452 d:OrdinaryShareClass1 2022-02-01 2023-01-31 09826452 d:OrdinaryShareClass1 2023-01-31 09826452 d:OrdinaryShareClass1 2022-01-31 09826452 d:FRS102 2022-02-01 2023-01-31 09826452 d:Audited 2022-02-01 2023-01-31 09826452 d:FullAccounts 2022-02-01 2023-01-31 09826452 d:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09826452 d:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 09826452 e:Goodwill e:ExternallyAcquiredIntangibleAssets 2022-02-01 2023-01-31 09826452 e:AcceleratedTaxDepreciationDeferredTax 2023-01-31 09826452 e:AcceleratedTaxDepreciationDeferredTax 2022-01-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09826452









CONNECT ACCESS LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
CONNECT ACCESS LIMITED
REGISTERED NUMBER: 09826452

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
1
-

Tangible assets
 6 
6,151,849
4,820,400

  
6,151,850
4,820,400

Current assets
  

Debtors: amounts falling due within one year
 7 
72,127
100,811

Creditors: amounts falling due within one year
 8 
(42,868)
(1,032,614)

Net current assets/(liabilities)
  
 
 
29,259
 
 
(931,803)

Total assets less current liabilities
  
6,181,109
3,888,597

Provisions for liabilities
  

Deferred tax
 9 
(623,383)
(634,611)

Net assets
  
5,557,726
3,253,986


Capital and reserves
  

Called up share capital 
 10 
100
2

Share premium account
  
1,505,978
-

Profit and loss account
  
4,051,648
3,253,984

  
5,557,726
3,253,986


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: 




Mr O J Cave
Director

Date: 24 October 2023


The notes on pages 3 to 10 form part of these financial statements.

Page 1

 
CONNECT ACCESS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 February 2022
2
-
3,253,984
3,253,986


Comprehensive income for the year

Profit for the year
-
-
797,664
797,664
Total comprehensive income for the year
-
-
797,664
797,664


Contributions by and distributions to owners

Shares issued during the year
98
1,505,978
-
1,506,076


Total transactions with owners
98
1,505,978
-
1,506,076


At 31 January 2023
100
1,505,978
4,051,648
5,557,726



STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 February 2021
2
3,569,920
3,569,922


Comprehensive income for the year

Loss for the year
-
(315,936)
(315,936)
Total comprehensive income for the year
-
(315,936)
(315,936)


Total transactions with owners
-
-
-


At 31 January 2022
2
3,253,984
3,253,986


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
CONNECT ACCESS LIMITED
 

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

1.


GENERAL INFORMATION

Connect Access Limited is a private Company limited by shares, incorporated in England and Wales. Its registered number is 09826452. Its registered office is Hadham Park, Hadham Road, Bishop's Stortford, Hertfordshire, CM23 1JH.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The Company's functional and presentational currency is that of Pounds Sterling.

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 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:

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

 
CONNECT ACCESS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

INTANGIBLE ASSETS

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Comprehensive Income over its useful economic life.

Other 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.

 
2.4

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.

All additions to plant and machinery fixed assets are recognised net of a 15% write off to profit and loss which is an estimate for the amount that will be lost or damaged during business operations.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line or reducing balance method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
straight line
Motor vehicles
-
25%
reducing balance
Computer equipment
-
10%
reducing balance

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.

 
2.5

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.

 
2.6

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.
Page 4

 
CONNECT ACCESS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.6
FINANCIAL INSTRUMENTS (continued)


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.

 
2.7

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.

 
2.8

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

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 5

 
CONNECT ACCESS LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.10

EXCEPTIONAL ITEMS

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


TAXATION


2023
2022
£
£

Corporation tax


Current tax on profits for the year
150,474
-


Group taxation relief
-
(110,081)


Total current tax
150,474
(110,081)

Deferred tax


Origination and reversal of timing differences
(11,228)
224,006


Taxation on profit on ordinary activities
139,246
113,925

FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is lower than (2022 - higher than) the standard rate of corporation tax in the UK of 19% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit/(loss) on ordinary activities before tax
936,910
(202,011)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 19% (2022 - 19%)
178,013
(38,382)

Effects of:


Short-term timing difference leading to an increase (decrease) in taxation
-
22,642

Super deduction claimed
(36,073)
-

Changes to tax rate leading to an increase (decrease) in the tax charge
(2,694)
129,665

Total tax charge for the year
139,246
113,925

Page 6

 
CONNECT ACCESS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023
 
4.TAXATION (CONTINUED)


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.


5.


INTANGIBLE ASSETS




Goodwill

£



Cost


Additions
1



At 31 January 2023

1






Net book value



At 31 January 2023
1



At 31 January 2022
-



Page 7

 
CONNECT ACCESS LIMITED
 

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

6.


TANGIBLE FIXED ASSETS





Plant and machinery

£



Cost or valuation


At 1 February 2022
8,984,507


Additions
2,432,853



At 31 January 2023

11,417,360



Depreciation


At 1 February 2022
4,164,107


Charge for the year on owned assets
1,101,404



At 31 January 2023

5,265,511



Net book value



At 31 January 2023
6,151,849



At 31 January 2022
4,820,400

Page 8

 
CONNECT ACCESS LIMITED
 

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

7.


DEBTORS

2023
2022
£
£


Trade debtors
16,310
-

Other debtors
20,236
100,811

Prepayments and accrued income
35,581
-

72,127
100,811



8.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Trade creditors
16,633
3,767

Amounts owed to group undertakings
-
1,021,097

Corporation tax
293
-

Other creditors
17,127
-

Accruals and deferred income
8,815
7,750

42,868
1,032,614



9.


DEFERRED TAXATION




2023
2022


£

£






At beginning of year
634,611
410,605


Charged to profit or loss
(11,228)
224,006



At end of year
623,383
634,611

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
623,383
634,611

Page 9

 
CONNECT ACCESS LIMITED
 

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

10.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 2) Ordinary shares of £1 each
100
2


During the year ninety eight ordinary shares of £1 each were allotted for cash consideration of £1,506,076.


11.


CAPITAL COMMITMENTS


At 31 January 2023 the Company had capital commitments as follows:

2023
2022
£
£


Contracted for but not provided in these financial statements
46,875
-


12.


RELATED PARTY TRANSACTIONS

The Company has taken advantage of the exemption under FRS 102 (Section 33.1A) not to disclose transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member.
During the year the a loan balance with a former group Company totalling £547,555 was written off.


13.


CONTROLLING PARTY

The immediate and ultimate parent Company is Connect Hire Group Limited.
The ultimate controlling party is Mr O J Cave.


14.


AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 31 January 2023 was unqualified.

The audit report was signed on 24 October 2023 by Richard Vass (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 10