Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true5The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-04-01falseOther information technology service activities10false 09515059 2022-04-01 2023-03-31 09515059 2021-04-01 2022-03-31 09515059 2023-03-31 09515059 2022-03-31 09515059 c:Director1 2022-04-01 2023-03-31 09515059 c:Director2 2022-04-01 2023-03-31 09515059 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 09515059 d:Buildings d:ShortLeaseholdAssets 2023-03-31 09515059 d:Buildings d:ShortLeaseholdAssets 2022-03-31 09515059 d:LandBuildings 2023-03-31 09515059 d:LandBuildings 2022-03-31 09515059 d:FurnitureFittings 2022-04-01 2023-03-31 09515059 d:FurnitureFittings 2023-03-31 09515059 d:FurnitureFittings 2022-03-31 09515059 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09515059 d:OfficeEquipment 2022-04-01 2023-03-31 09515059 d:OfficeEquipment 2023-03-31 09515059 d:OfficeEquipment 2022-03-31 09515059 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09515059 d:ComputerEquipment 2022-04-01 2023-03-31 09515059 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 09515059 d:CurrentFinancialInstruments 2023-03-31 09515059 d:CurrentFinancialInstruments 2022-03-31 09515059 d:Non-currentFinancialInstruments 2023-03-31 09515059 d:Non-currentFinancialInstruments 2022-03-31 09515059 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 09515059 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 09515059 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 09515059 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 09515059 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 09515059 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 09515059 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 09515059 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 09515059 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 09515059 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 09515059 d:ShareCapital 2023-03-31 09515059 d:ShareCapital 2022-03-31 09515059 d:RetainedEarningsAccumulatedLosses 2023-03-31 09515059 d:RetainedEarningsAccumulatedLosses 2022-03-31 09515059 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 09515059 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 09515059 c:FRS102 2022-04-01 2023-03-31 09515059 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 09515059 c:FullAccounts 2022-04-01 2023-03-31 09515059 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09515059 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 09515059










S2 COMPUTERS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
S2 COMPUTERS LTD
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 12


 
S2 COMPUTERS LTD
REGISTERED NUMBER: 09515059

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
27,066
4,802

  
27,066
4,802

Current assets
  

Stocks
  
11,732
4,303

Debtors: amounts falling due after more than one year
 5 
2,550
-

Debtors: amounts falling due within one year
 5 
66,801
27,568

Cash at bank and in hand
 6 
110,009
54,454

  
191,092
86,325

Creditors: amounts falling due within one year
 7 
(115,337)
(61,422)

Net current assets
  
 
 
75,755
 
 
24,903

Total assets less current liabilities
  
102,821
29,705

Creditors: amounts falling due after more than one year
 8 
(9,575)
(11,984)

Provisions for liabilities
  

Deferred tax
  
(6,273)
-

  
 
 
(6,273)
 
 
-

Net assets
  
86,973
17,721


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
86,873
17,621

  
86,973
17,721


Page 1

 
S2 COMPUTERS LTD
REGISTERED NUMBER: 09515059
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

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 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 by: 




................................................
Andrew Clive Atthowe
................................................
Helen Atthowe
Director
Director


Date: 25 October 2023

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company incorporated in the United Kingdom and limited by shares. It is registered in England and Wales. The address of its registered office is 12 Church Street, Cromer, England, NR27 9ER.
The company's principal activity is that of other information technology 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 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

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

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 lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

 
2.5

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.

 
2.6

Interest income

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

 
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.

Page 4

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

Borrowing costs

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

 
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 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.

 
2.10

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 5

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.10
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Short-term leasehold property
-
14%
straight line basis over the lease term
Fixtures and fittings
-
25%
reducing balance basis
Computer equipment
-
33%
straight line basis

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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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 6

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

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.

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.
Page 7

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
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 year was 10 (2022 - 5).

Page 8

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost


At 1 April 2022
-
409
15,872
16,281


Additions
1,973
9,041
43,075
54,089


Disposals
-
-
(11,126)
(11,126)



At 31 March 2023

1,973
9,450
47,821
59,244



Depreciation


At 1 April 2022
-
290
11,189
11,479


Charge for the year on owned assets
2
2,293
26,924
29,219


Disposals
-
-
(8,520)
(8,520)



At 31 March 2023

2
2,583
29,593
32,178



Net book value



At 31 March 2023
1,971
6,867
18,228
27,066



At 31 March 2022
-
119
4,683
4,802




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Short leasehold
1,971
-

1,971
-


Page 9

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
2,550
-

2,550
-


2023
2022
£
£

Due within one year

Trade debtors
63,578
26,425

Prepayments and accrued income
3,223
1,143

66,801
27,568



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
110,009
54,454

110,009
54,454



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
1,553
307

Trade creditors
33,958
10,700

Corporation tax
36,070
22,640

Other taxation and social security
35,059
12,212

Other creditors
7,205
14,746

Accruals and deferred income
1,492
817

115,337
61,422


Page 10

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
9,575
11,984

9,575
11,984



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
1,553
307


1,553
307

Amounts falling due 1-2 years

Bank loans
1,553
307


1,553
307

Amounts falling due 2-5 years

Bank loans
4,658
11,677


4,658
11,677

Amounts falling due after more than 5 years

Bank loans
3,364
-

3,364
-

11,128
12,291


Page 11

 
S2 COMPUTERS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

10.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
110,009
54,454




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


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 £111,399 (2022 - £28,142). As at the year end, there were outstanding contributions payable to the scheme of £1,091 (2022 - £568).

 
Page 12