Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-312023-05-31false2022-04-11falseNo description of principal activitytrue 14039921 2022-04-10 14039921 2022-04-11 2023-05-31 14039921 2021-04-11 2022-04-10 14039921 2023-05-31 14039921 c:Director2 2022-04-11 2023-05-31 14039921 d:OfficeEquipment 2022-04-11 2023-05-31 14039921 d:ComputerEquipment 2022-04-11 2023-05-31 14039921 d:Goodwill 2022-04-11 2023-05-31 14039921 d:CurrentFinancialInstruments 2023-05-31 14039921 d:Non-currentFinancialInstruments 2023-05-31 14039921 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 14039921 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 14039921 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-05-31 14039921 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-05-31 14039921 d:ShareCapital 2023-05-31 14039921 d:SharePremium 2023-05-31 14039921 d:RetainedEarningsAccumulatedLosses 2023-05-31 14039921 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 14039921 c:FRS102 2022-04-11 2023-05-31 14039921 c:Audited 2022-04-11 2023-05-31 14039921 c:FullAccounts 2022-04-11 2023-05-31 14039921 c:PrivateLimitedCompanyLtd 2022-04-11 2023-05-31 14039921 d:Subsidiary1 2022-04-11 2023-05-31 14039921 d:Subsidiary1 1 2022-04-11 2023-05-31 14039921 d:Subsidiary2 2022-04-11 2023-05-31 14039921 d:Subsidiary2 1 2022-04-11 2023-05-31 14039921 c:SmallCompaniesRegimeForAccounts 2022-04-11 2023-05-31 14039921 c:Consolidated 2023-05-31 14039921 c:ConsolidatedGroupCompanyAccounts 2022-04-11 2023-05-31 14039921 2 2022-04-11 2023-05-31 14039921 6 2022-04-11 2023-05-31 iso4217:GBP xbrli:pure

Registered number: 14039921










BUSINESS SUPPORT EXPERTS LIMITED










FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MAY 2023

 
BUSINESS SUPPORT EXPERTS LIMITED
REGISTERED NUMBER: 14039921

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
9,930,102

Tangible assets
 5 
68,833

  
9,998,935

Current assets
  

Debtors: amounts falling due within one year
 7 
1,121,502

Cash at bank and in hand
 8 
503,125

  
1,624,627

Creditors: amounts falling due within one year
 9 
(1,394,937)

Net current assets
  
 
 
229,690

Total assets less current liabilities
  
10,228,625

Creditors: amounts falling due after more than one year
 10 
(3,013,593)

Provisions for liabilities
  

Deferred taxation
  
(5,314)

  
 
 
(5,314)

Net assets
  
7,209,718


Capital and reserves
  

Called up share capital 
  
1,250,006

Share premium account
  
6,499,959

Profit and loss account
  
(540,247)

Equity attributable to owners of the parent Company
  
7,209,718


Page 1

 
BUSINESS SUPPORT EXPERTS LIMITED
REGISTERED NUMBER: 14039921
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

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 consolidated 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 31 October 2023.






M. J. M. Joyner
Director

The notes on pages 5 to 17 form part of these financial statements.

Page 2

 
BUSINESS SUPPORT EXPERTS LIMITED
REGISTERED NUMBER: 14039921

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2023

2023
Note
£

Fixed assets
  

Investments
 6 
13,494,343

  
13,494,343

Current assets
  

Debtors: amounts falling due within one year
 7 
5

Cash at bank and in hand
 8 
5

  
10

Creditors: amounts falling due within one year
 9 
(3,053,744)

Net current (liabilities)/assets
  
 
 
(3,053,734)

Total assets less current liabilities
  
10,440,609

  

Creditors: amounts falling due after more than one year
 10 
(3,013,593)

  

Net assets
  
7,427,016


Capital and reserves
  

Called up share capital 
  
1,250,006

Share premium account
  
6,499,959

Loss/(profit) for the period
  
(322,949)

Profit and loss account carried forward
  
(322,949)

  
7,427,016


Page 3

 
BUSINESS SUPPORT EXPERTS LIMITED
REGISTERED NUMBER: 14039921
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2023

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 consolidated 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 31 October 2023.






M. J. M. Joyner
Director

The notes on pages 5 to 17 form part of these financial statements.

Page 4

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

1.


General information

Business Support Experts Limited is a private limited company, limited by shares, registered in England and Wales. The registered office is Suite 10 Kings Court, Railway Street, Altrincham, WA14 2RD. The company number is 14039921.

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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future.  The Company relies on loans from its trading subsidiaries to service its debts and current forecasts indicate that the Group expects to be able to pay its debts as they fall due. Accordingly, the directors believe it is appropriate to prepare the financial statements on the going concern basis.

Page 5

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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 Group has transferred the significant risks and rewards of ownership to the buyer;
the Group 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 Group 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.

 
2.5

Operating leases: the Group 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.

 
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.

 
2.8

Borrowing costs

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

Page 6

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Statement of financial position. The assets of the plan are held separately from the Group in independently administered funds.

 
2.10

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 reporting date in the countries where the Company and the Group operate and generate 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;
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met; and
Where they relate to timing differences in respect of interests in subsidiaries, associates, branches and joint ventures and the Group can control the reversal of the timing differences and such reversal is not considered probable in the foreseeable future.

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 7

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.11

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 the Group's share 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 Consolidated 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.

 
2.12

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 or on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25% straight line
Computer equipment
-
33% 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.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

Page 8

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

 
2.17

Provisions for liabilities

Provisions are made where an event has taken place that gives the Group 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 Group 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.

 
2.18

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Group 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 Group's Statement of financial position when the Group 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 Group's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.
Page 9

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)


2.18
Financial instruments (continued)


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 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 Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans, other loans and loans due to fellow group companies 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.
Page 10

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

2.Accounting policies (continued)


2.18
Financial instruments (continued)


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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group 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 Group 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 Group's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the period was 24.

Page 11

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

4.


Intangible assets

Group




Computer software
Goodwill
Total

£
£
£



Cost


Additions
9,500
11,172,676
11,182,176


On acquisition of subsidiaries
13,305
-
13,305



At 31 May 2023

22,805
11,172,676
11,195,481



Amortisation


Charge for the period on owned assets
8,453
1,256,926
1,265,379



At 31 May 2023

8,453
1,256,926
1,265,379



Net book value



At 31 May 2023
14,352
9,915,750
9,930,102



Page 12

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

5.


Tangible fixed assets

Group






Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


Additions
25,492
31,986
57,478


Acquisition of subsidiary
18,438
14,593
33,031



At 31 May 2023

43,930
46,579
90,509



Depreciation


Charge for the period on owned assets
12,522
9,154
21,676



At 31 May 2023

12,522
9,154
21,676



Net book value



At 31 May 2023
31,408
37,425
68,833


6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


Additions
13,494,343



At 31 May 2023
13,494,343




Page 13

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

R and D Specialists Limited
Ordinary
100%
Capital Allowance Specialists Limited
Ordinary
100%


7.


Debtors

Group
Company
2023
2023
£
£


Trade debtors
205,914
-

Other debtors
3,352
5

Prepayments and accrued income
912,236
-

1,121,502
5



8.


Cash and cash equivalents

Group
Company
2023
2023
£
£

Cash at bank and in hand
503,125
5

Less: bank overdrafts
(947)
-

502,178
5


Page 14

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

9.


Creditors: Amounts falling due within one year

Group
Company
2023
2023
£
£

Bank overdrafts
947
-

Other loans
753,398
753,398

Trade creditors
17,551
31

Amounts owed to group undertakings
-
2,176,946

Corporation tax
116,897
-

Other taxation and social security
170,151
69,056

Other creditors
14,206
-

Accruals and deferred income
321,787
54,313

1,394,937
3,053,744



10.


Creditors: Amounts falling due after more than one year

Group
Company
2023
2023
£
£

Other loans
3,013,593
3,013,593

3,013,593
3,013,593



11.


Loans


Analysis of the maturity of loans is given below:


Group
Company
2023
2023
£
£

Amounts falling due within one year

Other loans
753,398
753,398

Amounts falling due 1-2 years

Other loans
753,398
753,398

Amounts falling due 2-5 years

Other loans
2,260,195
2,260,195


3,766,991
3,766,991


Page 15

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

12.


Financial instruments

Group
Company
2023
2023
£
£

Financial assets

Financial assets measured at fair value through profit or loss
503,125
5




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


13.


Pension commitments

The Group operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Group  in an independently administered fund. The pension cost charge represents contributions payable by the Group  to the fund and amounted to £61,529. Contributions totalling £14,205  were payable to the fund at the reporting date and are included in creditors.


14.


Commitments under operating leases

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


Group
2023
£

Not later than 1 year
26,500

Later than 1 year and not later than 5 years
11,042

37,542

15.


Related party transactions

The company has taken advantage of the exemption under paragraph 33.1A of FRS 102 and has not disclosed transactions with its parent company.


16.


Controlling party

The controlling party of the Company is M. J. M. Joyner and G. R. Liberman.

Page 16

 
BUSINESS SUPPORT EXPERTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2023

17.


Auditors' information

The auditors' report on the financial statements for the period ended 31 May 2023 was unqualified.

The audit report was signed on 31 October 2023 by Andrew McCall (Senior statutory auditor) on behalf of Langtons Professional Services Limited.

 
Page 17