Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312022-03-21falseNo description of principal activity20falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13992206 2022-03-20 13992206 2022-03-21 2023-03-31 13992206 2021-03-21 2022-03-20 13992206 2023-03-31 13992206 c:Director1 2022-03-21 2023-03-31 13992206 d:FurnitureFittings 2022-03-21 2023-03-31 13992206 d:FurnitureFittings 2023-03-31 13992206 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-21 2023-03-31 13992206 d:OfficeEquipment 2022-03-21 2023-03-31 13992206 d:OfficeEquipment 2023-03-31 13992206 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-21 2023-03-31 13992206 d:OwnedOrFreeholdAssets 2022-03-21 2023-03-31 13992206 d:Goodwill 2022-03-21 2023-03-31 13992206 d:Goodwill 2023-03-31 13992206 d:CurrentFinancialInstruments 2023-03-31 13992206 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 13992206 d:ShareCapital 2023-03-31 13992206 d:RetainedEarningsAccumulatedLosses 2023-03-31 13992206 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 13992206 c:OrdinaryShareClass1 2022-03-21 2023-03-31 13992206 c:OrdinaryShareClass1 2023-03-31 13992206 c:OrdinaryShareClass2 2022-03-21 2023-03-31 13992206 c:OrdinaryShareClass2 2023-03-31 13992206 c:FRS102 2022-03-21 2023-03-31 13992206 c:AuditExempt-NoAccountantsReport 2022-03-21 2023-03-31 13992206 c:FullAccounts 2022-03-21 2023-03-31 13992206 c:PrivateLimitedCompanyLtd 2022-03-21 2023-03-31 13992206 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2022-03-21 2023-03-31 13992206 d:Goodwill d:OwnedIntangibleAssets 2022-03-21 2023-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 13992206










MICHAEL ANTHONY LETTINGS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2023

 
MICHAEL ANTHONY LETTINGS LIMITED
REGISTERED NUMBER: 13992206

BALANCE SHEET
AS AT 31 MARCH 2023

2023
Note
£

Fixed assets
  

Intangible assets
 4 
65,624

Tangible assets
 5 
3,106

  
68,730

Current assets
  

Debtors: amounts falling due within one year
 6 
1,292

Cash at bank and in hand
 7 
47,446

  
48,738

Creditors: amounts falling due within one year
 8 
(102,188)

Net current (liabilities)/assets
  
 
 
(53,450)

Total assets less current liabilities
  
15,280

Provisions for liabilities
  

Deferred tax
  
(777)

  
 
 
(777)

Net assets
  
14,503


Capital and reserves
  

Called up share capital 
 10 
301

Profit and loss account
  
14,202

  
14,503


Page 1

 
MICHAEL ANTHONY LETTINGS LIMITED
REGISTERED NUMBER: 13992206
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his 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: 




................................................
Mr NW Lewis-Smith
Director

Date: 17 November 2023

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
MICHAEL ANTHONY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

1.


General information

Michael Anthony Lettings Limited is a private company limited by shares incorporated in England and Wales. The registered office is NA Norman and Company, 31 High Street, Winslow, Buckingham, MK18 3HE. The business address of the Company is 54 Kingsbury, Aylesbury, HP20 2JE.
The Company incorporated on 21 March 2022, therefore the financial statements represent a long period of accounts from this date to 31 March 2023. 
The functional and presentational currency of the financial statements is GBP, rounded to the nearest whole pound. 

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:

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

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.

Page 3

 
MICHAEL ANTHONY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

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 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.

 
2.5

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 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 Statement of Income and Retained Earnings 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.

 Amortisation is provided on the following bases:

Goodwill
-
10%
straight line

Page 4

 
MICHAEL ANTHONY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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:

Fixtures and fittings
-
20%
Office 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.

 
2.7

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.

 
2.8

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. 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.

 
2.9

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 5

 
MICHAEL ANTHONY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.


3.


Employees

The average monthly number of employees, including directors, during the period was 2.

Page 6

 
MICHAEL ANTHONY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

4.


Intangible assets



Goodwill

£



Cost


Additions
70,000



At 31 March 2023

70,000



Amortisation


Charge for the period on owned assets
4,376



At 31 March 2023

4,376



Net book value



At 31 March 2023
65,624




5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


Additions
2,792
645
3,437



At 31 March 2023

2,792
645
3,437



Depreciation


Charge for the period on owned assets
210
121
331



At 31 March 2023

210
121
331



Net book value



At 31 March 2023
2,582
524
3,106

Page 7

 
MICHAEL ANTHONY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023

6.


Debtors

2023
£


Trade debtors
991

Called up share capital not paid
301

1,292



7.


Cash and cash equivalents

2023
£

Cash at bank and in hand
47,446



8.


Creditors: Amounts falling due within one year

2023
£

Trade creditors
1,643

Corporation tax
3,637

Other taxation and social security
4,700

Other creditors
90,208

Accruals and deferred income
2,000

102,188



9.


Deferred taxation



2023


£






Charged to profit or loss
777



At end of year
777

Page 8

 
MICHAEL ANTHONY LETTINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
 
9.Deferred taxation (continued)

The deferred taxation balance is made up as follows:

2023
£


Accelerated capital allowances
777


10.


Share capital

2023
£
Allotted, called up and fully paid


1 Ordinary share of £1.00
1
300 Ordinary A shares of £1.00 each
300

301


On incorporation, 1 Ordinary share was issued at par. Further to this on 15 April 2022, 300 Ordinary A shares were issued at par. 


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. Contributions totalling £208  were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9