Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-04-01false16No description of principal activity16falsetrue 10419924 2022-04-01 2023-03-31 10419924 2021-04-01 2022-03-31 10419924 2023-03-31 10419924 2022-03-31 10419924 c:Director1 2022-04-01 2023-03-31 10419924 d:MotorVehicles 2022-04-01 2023-03-31 10419924 d:MotorVehicles 2023-03-31 10419924 d:MotorVehicles 2022-03-31 10419924 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 10419924 d:CurrentFinancialInstruments 2023-03-31 10419924 d:CurrentFinancialInstruments 2022-03-31 10419924 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10419924 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 10419924 d:ShareCapital 2023-03-31 10419924 d:ShareCapital 2022-03-31 10419924 d:RetainedEarningsAccumulatedLosses 2023-03-31 10419924 d:RetainedEarningsAccumulatedLosses 2022-03-31 10419924 c:OrdinaryShareClass1 2022-04-01 2023-03-31 10419924 c:OrdinaryShareClass1 2023-03-31 10419924 c:OrdinaryShareClass1 2022-03-31 10419924 c:FRS102 2022-04-01 2023-03-31 10419924 c:Audited 2022-04-01 2023-03-31 10419924 c:FullAccounts 2022-04-01 2023-03-31 10419924 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10419924 d:WithinOneYear 2023-03-31 10419924 d:WithinOneYear 2022-03-31 10419924 d:BetweenOneFiveYears 2023-03-31 10419924 d:BetweenOneFiveYears 2022-03-31 10419924 c:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 10419924 2 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10419924









LONDON NETWORK FOR PEST SOLUTIONS LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
LONDON NETWORK FOR PEST SOLUTIONS LIMITED
REGISTERED NUMBER: 10419924

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
23,783
-

  
23,783
-

Current assets
  

Stocks
  
6,989
4,605

Debtors: amounts falling due within one year
 5 
125,274
35,298

Cash at bank and in hand
 6 
357,005
402,838

  
489,268
442,741

Creditors: amounts falling due within one year
 7 
(349,354)
(291,313)

Net current assets
  
 
 
139,914
 
 
151,428

Total assets less current liabilities
  
163,697
151,428

  

Net assets
  
163,697
151,428


Capital and reserves
  

Called up share capital 
 8 
1
1

Profit and loss account
  
163,696
151,427

  
163,697
151,428


The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 on 28 July 2023.




P M Cooper
Director

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

Page 1

 
LONDON NETWORK FOR PEST SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

London Network for Pest Solutions Limited is a private company, limited by shares, incorporated in England and Wales with a registration number 10419924. The registered address of the company is 86-90 Paul Street, London, England, EC2A 4NE. The principal activity of the company is that of disinfecting and exterminating services.

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 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 judgement in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.

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

Interest income

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

Page 2

 
LONDON NETWORK FOR PEST SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

  
2.4

Pensions

The company is a member of a multi-employer plan. The liability and associated expenses of the pension scheme fund have been fully guaranteed by London Borough of Newham, and therefore for the purposes of these accounts the actual contributions made during the period have been included within the accounts and the pension scheme has been treated as a defined contribution pension scheme. This has been disclosed with the pension commitment note to the accounts.

 
2.5

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.

 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%

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.

 
2.7

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.

Page 3

 
LONDON NETWORK FOR PEST SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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.

 
2.11

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.

 
2.12

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 the directors, during the year was as follows:


        2023
        2022
            No.
            No.







Average number of employees
16
16

Page 4

 
LONDON NETWORK FOR PEST SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Motor vehicles

£



Cost or valuation


Additions
26,549



At 31 March 2023

26,549



Depreciation


Charge for the year on owned assets
2,766



At 31 March 2023

2,766



Net book value



At 31 March 2023
23,783



At 31 March 2022
-


5.


Debtors

2023
2022
£
£


Trade debtors
101,004
13,484

Other debtors
4,193
6,255

Prepayments and accrued income
17,791
15,559

Amounts recoverable on long-term contracts
2,286
-

125,274
35,298



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
357,005
402,838

357,005
402,838


Page 5

 
LONDON NETWORK FOR PEST SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
36,744
11,889

Corporation tax
8,057
6,264

Other taxation and social security
115,273
59,683

Accruals and deferred income
189,280
213,477

349,354
291,313



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary share share of £1.00
1
1



9.


Pension commitments

The company is a member of a multiple employer defined benefit pension scheme administered by the London Borough of Newham Council (LBN). LBN is the administering authority of the London Borough of Newham Pension Fund which provides a defined benefit scheme under the Local Government Pension Scheme for employees of London Network For Pest Solutions Limited.     
                                                
The Local Government Pension Scheme is a defined benefit statutory scheme administered in accordance with the Local Government Pension Scheme Regulations 2013 and it provides benefits based on career average revalued earnings. There are no minimum funding requirements in the Local Government Pension Scheme but contributions are generally set to target a funding level of 100% using the actuarial assumptions.
The most recent actuarial valuation has been obtained as at the year end and the following has been noted:
As at 31 March 2022 the total present value of the defined benefit obligation was £1,579,187 (2022: £2,360,843), whilst assets were £1,276,628 (2022: £1,143,757) leaving a deficit of £302,559 (2022: £1,217,086). However, LBN has stated in the absence of a bond (which this company does not have), it will and has issued a guarantee in respect of the premature termination of the provision of service or assets by reason of insolvency, winding up or liquidation of the company.
The above has the effect of the pension fund being fully funded for the company and therefore there is no recognition in these accounts of a pension fund net defined benefit liability. Therefore the treatment of the pension fund has been accounted for as if it were a defined contribution scheme. The contributions made during the year were £105,568 (2022: £119,824).

Page 6

 
LONDON NETWORK FOR PEST SOLUTIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Commitments under operating leases

At 31 March 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
52,005
39,171

Later than 1 year and not later than 5 years
63,275
64,244

115,280
103,415


11.


Related party transactions

During the year key management personnel were remunerated £127,345 (2021: £134,234).
The company has taken advantage of the exemption in Financial Reporting Standard 102 from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company and are publicly available.


12.


Controlling party

The ultimate controlling party is the Mayor and Burgesses of the London Borough of Newham, by virtue of its shareholding.

13.


Auditors' information

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

The audit report was signed on 28 July 2023 by Christina Georgiou (Senior Statutory Auditor) on behalf of Haslers.

 
Page 7