Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31true352022-04-01falseNo description of principal activity29trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11436873 2022-04-01 2023-03-31 11436873 2021-04-01 2022-03-31 11436873 2023-03-31 11436873 2022-03-31 11436873 2021-04-01 11436873 c:Director1 2022-04-01 2023-03-31 11436873 d:MotorVehicles 2022-04-01 2023-03-31 11436873 d:MotorVehicles 2023-03-31 11436873 d:MotorVehicles 2022-03-31 11436873 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11436873 d:OfficeEquipment 2022-04-01 2023-03-31 11436873 d:OfficeEquipment 2023-03-31 11436873 d:OfficeEquipment 2022-03-31 11436873 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11436873 d:ComputerEquipment 2022-04-01 2023-03-31 11436873 d:ComputerEquipment 2023-03-31 11436873 d:ComputerEquipment 2022-03-31 11436873 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11436873 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 11436873 d:CurrentFinancialInstruments 2023-03-31 11436873 d:CurrentFinancialInstruments 2022-03-31 11436873 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11436873 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 11436873 d:ShareCapital 2023-03-31 11436873 d:ShareCapital 2022-03-31 11436873 d:RetainedEarningsAccumulatedLosses 2023-03-31 11436873 d:RetainedEarningsAccumulatedLosses 2022-03-31 11436873 c:OrdinaryShareClass1 2022-04-01 2023-03-31 11436873 c:OrdinaryShareClass1 2023-03-31 11436873 c:FRS102 2022-04-01 2023-03-31 11436873 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 11436873 c:FullAccounts 2022-04-01 2023-03-31 11436873 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11436873 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 11436873 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 11436873 2 2022-04-01 2023-03-31 11436873 6 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 11436873














FMAP LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

 
FMAP LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 8


 
FMAP LIMITED
REGISTERED NUMBER:11436873

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
92,225
29,386

Investments
 5 
12,832
12,832

  
105,057
42,218

Current assets
  

Debtors: amounts falling due within one year
 6 
239,196
570,139

Cash at bank and in hand
  
1,866,499
1,739,136

  
2,105,695
2,309,275

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,465,697)
(1,353,932)

Net current assets
  
 
 
639,998
 
 
955,343

Total assets less current liabilities
  
745,055
997,561

Provisions for liabilities
  

Deferred tax
 8 
(17,522)
(5,583)

Net assets
  
727,533
991,978


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
727,433
991,878

  
727,533
991,978


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.

Page 1

 
FMAP LIMITED
REGISTERED NUMBER:11436873
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

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: 

The Rt Hon Lord Maude of Horsham
Director

Date: 2 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
FMAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company's legal form is that of a private limited company registered in England & Wales. The Company's registered office and principal place of business is at 40 Great Smith Street, London, SW1P 3BU. 
The principal activity of the Company is the provision of implementation advice on efficiency and public sector reform to foreign governments.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied during the period, exclusive of Value Added Tax 
Turnover is recognised in the period in which the service is provided. 

 
2.4

Interest income

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

 
2.5

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 3

 
FMAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
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/ straight line basis.

Depreciation is provided on the following basis:

Motor vehicles
-
13%
straight line
Office equipment
-
25%
straight line
Computer equipment
-
25%
straight line

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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.8

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.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

 
2.10

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 and loans from third and related parties.

Page 4

 
FMAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

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.

 
2.12

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.

 
2.13

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.

Page 5

 
FMAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.14

Pensions

Defined contribution pension plan
The Company contributes to 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 the Statement of Comprehensive Income 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 Company in independently administered funds.


3.


Employees

The average monthly number of employees, including directors, during the year was 35 (2022 - 29).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost


At 1 April 2022
-
10,585
53,636
64,221


Additions
71,396
-
19,102
90,498


Disposals
-
-
(6,495)
(6,495)



At 31 March 2023

71,396
10,585
66,243
148,224



Depreciation


At 1 April 2022
-
6,052
28,785
34,837


Charge for the year on owned assets
8,924
2,628
15,362
26,914


Disposals
-
-
(5,752)
(5,752)



At 31 March 2023

8,924
8,680
38,395
55,999



Net book value



At 31 March 2023
62,472
1,905
27,848
92,225



At 31 March 2022
-
4,534
24,852
29,386

Page 6

 
FMAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 April 2022
12,832



At 31 March 2023
12,832





6.


Debtors

2023
2022
£
£


Trade debtors
5,500
350,966

Other debtors
83,594
7,532

Prepayments and accrued income
150,102
211,641

239,196
570,139



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
17,200
13,482

Amounts owed to group undertakings
689,338
709,493

Taxation and social security
155,167
98,895

Other creditors
37,726
56,535

Accruals and deferred income
566,266
475,527

1,465,697
1,353,932


Page 7

 
FMAP LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
(5,583)
(7,842)


Charged to profit or loss
(11,939)
2,259



At end of year
(17,522)
(5,583)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
17,522
5,583


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.00 each
100
100


 
Page 8