Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30192022-07-01falseNo description of principal activity24truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05520001 2022-07-01 2023-06-30 05520001 2021-07-01 2022-06-30 05520001 2023-06-30 05520001 2022-06-30 05520001 2021-07-01 05520001 c:Director1 2022-07-01 2023-06-30 05520001 c:Director2 2022-07-01 2023-06-30 05520001 d:MotorVehicles 2022-07-01 2023-06-30 05520001 d:MotorVehicles 2023-06-30 05520001 d:MotorVehicles 2022-06-30 05520001 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05520001 d:FurnitureFittings 2022-07-01 2023-06-30 05520001 d:FurnitureFittings 2023-06-30 05520001 d:FurnitureFittings 2022-06-30 05520001 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05520001 d:ComputerEquipment 2022-07-01 2023-06-30 05520001 d:ComputerEquipment 2023-06-30 05520001 d:ComputerEquipment 2022-06-30 05520001 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05520001 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05520001 d:FreeholdInvestmentProperty 2023-06-30 05520001 d:FreeholdInvestmentProperty 2022-06-30 05520001 d:CurrentFinancialInstruments 2023-06-30 05520001 d:CurrentFinancialInstruments 2022-06-30 05520001 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05520001 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05520001 d:ShareCapital 2022-07-01 2023-06-30 05520001 d:ShareCapital 2023-06-30 05520001 d:ShareCapital 2021-07-01 2022-06-30 05520001 d:ShareCapital 2022-06-30 05520001 d:ShareCapital 2021-07-01 05520001 d:OtherMiscellaneousReserve 2022-07-01 2023-06-30 05520001 d:OtherMiscellaneousReserve 2023-06-30 05520001 d:OtherMiscellaneousReserve 2021-07-01 2022-06-30 05520001 d:OtherMiscellaneousReserve 2022-06-30 05520001 d:OtherMiscellaneousReserve 2021-07-01 05520001 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 05520001 d:RetainedEarningsAccumulatedLosses 2023-06-30 05520001 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 05520001 d:RetainedEarningsAccumulatedLosses 2022-06-30 05520001 d:RetainedEarningsAccumulatedLosses 2021-07-01 05520001 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05520001 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 05520001 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 05520001 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 05520001 c:FRS102 2022-07-01 2023-06-30 05520001 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05520001 c:FullAccounts 2022-07-01 2023-06-30 05520001 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05520001 2 2022-07-01 2023-06-30 05520001 6 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 05520001










NEW LEAF DISTRIBUTION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
NEW LEAF DISTRIBUTION LIMITED
REGISTERED NUMBER: 05520001

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
54,922
52,155

Investments
 5 
38,000
38,000

Investment property
 6 
516,411
516,411

  
609,333
606,566

Current assets
  

Debtors: amounts falling due within one year
 7 
531,384
686,849

Cash at bank and in hand
  
1,953,768
1,719,169

  
2,485,152
2,406,018

Creditors: amounts falling due within one year
 8 
(510,720)
(855,145)

Net current assets
  
 
 
1,974,432
 
 
1,550,873

Total assets less current liabilities
  
2,583,765
2,157,439

Provisions for liabilities
  

Deferred tax
 9 
(10,435)
(12,401)

  
 
 
(10,435)
 
 
(12,401)

Net assets
  
2,573,330
2,145,038


Capital and reserves
  

Called up share capital 
  
30,010
30,010

Other reserves
 10 
15,827
15,827

Profit and loss account
 10 
2,527,493
2,099,201

  
2,573,330
2,145,038


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 year 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 on
Page 1

 
NEW LEAF DISTRIBUTION LIMITED
REGISTERED NUMBER: 05520001

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

28 September 2023.







M A Hobbs
D Hobbs
Director
Director

The notes on pages 5 to 12 form part of these financial statements.

Page 2

 
NEW LEAF DISTRIBUTION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 July 2022
30,010
15,827
2,099,201
2,145,038


Comprehensive income for the year

Profit for the year

-
-
538,292
538,292


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
538,292
538,292


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(110,000)
(110,000)


Total transactions with owners
-
-
(110,000)
(110,000)


At 30 June 2023
30,010
15,827
2,527,493
2,573,330


The notes on pages 5 to 12 form part of these financial statements.

Page 3

 
NEW LEAF DISTRIBUTION LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£

At 1 July 2021
30,010
15,827
1,721,122
1,766,959


Comprehensive income for the year

Profit for the year

-
-
480,619
480,619


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
480,619
480,619


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(102,540)
(102,540)


Total transactions with owners
-
-
(102,540)
(102,540)


At 30 June 2022
30,010
15,827
2,099,201
2,145,038


The notes on pages 5 to 12 form part of these financial statements.

Page 4

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

New Leaf Distribution Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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:

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.

 
2.3

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.

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.

Page 5

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

Interest income

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

 
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 Balance sheet. 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 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.

 
2.7

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.

Page 6

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer equipment
-
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.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

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 date. 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 date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.10

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.

 
2.11

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.

 
2.12

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 7

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

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

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
Page 8

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

 
2.15

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 24 (2022 - 19).

Page 9

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
3,899
38,185
128,137
170,221


Additions
-
18,552
-
18,552



At 30 June 2023

3,899
56,737
128,137
188,773



Depreciation


At 1 July 2022
1,158
27,382
89,527
118,067


Charge for the year on owned assets
685
5,446
9,653
15,784



At 30 June 2023

1,843
32,828
99,180
133,851



Net book value



At 30 June 2023
2,056
23,909
28,957
54,922



At 30 June 2022
2,742
10,803
38,610
52,155


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 July 2022
38,000



At 30 June 2023
38,000




Page 10

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
516,411



At 30 June 2023
516,411

The 2023 valuations were made by Hopson Property Service, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
499,275
499,275

499,275
499,275


7.


Debtors

2023
2022
£
£


Trade debtors
262,410
461,757

Amounts owed by joint ventures and associated undertakings
507
-

Other debtors
45,406
45,406

Prepayments and accrued income
223,061
179,686

531,384
686,849


Page 11

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
223,048
602,003

Corporation tax
144,364
138,206

Other taxation and social security
107,934
83,749

Other creditors
3,665
2,842

Accruals and deferred income
31,709
28,345

510,720
855,145



9.


Deferred taxation




2023


£






At beginning of year
(12,401)


Charged to profit or loss
1,966



At end of year
(10,435)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(10,435)
(11,092)

Tax on property revaluations
-
(1,309)

(10,435)
(12,401)


10.


Reserves

Other reserves

This is a non distributable reserve which contains fair value gains on investment properties and the associated deferred tax.


11.


Pension commitments


12.


Related party transactions

At the year end the company was owed £45,406 (2022: £45,406) from New Leaf (WWF) Ltd a company with directors and shareholders in common.


Page 12