Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-312false2022-04-01surveying2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03746387 2022-04-01 2023-03-31 03746387 2021-04-01 2022-03-31 03746387 2023-03-31 03746387 2022-03-31 03746387 c:Director1 2022-04-01 2023-03-31 03746387 d:OfficeEquipment 2022-04-01 2023-03-31 03746387 d:OfficeEquipment 2023-03-31 03746387 d:OfficeEquipment 2022-03-31 03746387 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 03746387 d:Goodwill 2023-03-31 03746387 d:Goodwill 2022-03-31 03746387 d:CurrentFinancialInstruments 2023-03-31 03746387 d:CurrentFinancialInstruments 2022-03-31 03746387 d:Non-currentFinancialInstruments 2023-03-31 03746387 d:Non-currentFinancialInstruments 2022-03-31 03746387 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03746387 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 03746387 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03746387 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 03746387 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 03746387 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 03746387 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 03746387 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 03746387 d:ShareCapital 2023-03-31 03746387 d:ShareCapital 2022-03-31 03746387 d:RetainedEarningsAccumulatedLosses 2023-03-31 03746387 d:RetainedEarningsAccumulatedLosses 2022-03-31 03746387 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 03746387 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-03-31 03746387 c:FRS102 2022-04-01 2023-03-31 03746387 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 03746387 c:AbridgedAccounts 2022-04-01 2023-03-31 03746387 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03746387 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 03746387









OFFINGTON LAND SURVEYS LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023


 
OFFINGTON LAND SURVEYS LIMITED
REGISTERED NUMBER:03746387

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
13,307
13,208

  
13,307
13,208

Current assets
  

Debtors
 6 
6,489
6,498

Cash at bank and in hand
 7 
22,219
28,499

  
28,708
34,997

Creditors: amounts falling due within one year
 8 
(18,340)
(22,800)

Net current assets
  
 
 
10,368
 
 
12,197

Total assets less current liabilities
  
23,675
25,405

Creditors: amounts falling due after more than one year
 9 
(8,854)
(12,782)

Net assets
  
14,821
12,623


Capital and reserves
  

Called up share capital 
  
120
120

Profit and loss account
  
14,701
12,503

  
14,821
12,623


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 year 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 on 7 November 2023.




Mr S Turrell
Page 1


 
OFFINGTON LAND SURVEYS LIMITED
REGISTERED NUMBER:03746387
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is incorporated in England and Wales and is limited by shares.  The registered office is located at 15 Cherry Tree Close, Worthing, West Sussex, BN13 3QJ.
The company's principal activity during the period continued to be that of surveying.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of 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 and value added tax. 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

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 3


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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.

 
2.9

Taxation

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.

Page 4


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
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.

 
2.12

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.

 
2.15

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.
Page 5


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)


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.

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 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
Page 6


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

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.

 
2.16

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 2 (2022 - 2).

Page 7


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2022
26,400



At 31 March 2023

26,400



Amortisation


At 1 April 2022
26,400



At 31 March 2023

26,400



Net book value



At 31 March 2023
-



At 31 March 2022
-



Page 8


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2022
75,560


Additions
4,535



At 31 March 2023

80,095



Depreciation


At 1 April 2022
62,352


Charge for the year on owned assets
4,436



At 31 March 2023

66,788



Net book value



At 31 March 2023
13,307



At 31 March 2022
13,208


6.


Debtors

2023
2022
£
£


Trade debtors
4,914
4,998

Prepayments and accrued income
1,575
1,500

6,489
6,498



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
22,219
28,499

22,219
28,499


Page 9


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
3,928
3,795

Corporation tax
7,198
11,355

Other taxation and social security
3,791
3,917

Other creditors
1,010
1,010

Accruals and deferred income
2,413
2,723

18,340
22,800



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,854
12,782

8,854
12,782



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
3,928
3,795


3,928
3,795

Amounts falling due 1-2 years

Bank loans
4,027
3,928


4,027
3,928

Amounts falling due 2-5 years

Bank loans
4,827
8,854


4,827
8,854


12,782
16,577


Page 10


 
OFFINGTON LAND SURVEYS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
22,219
28,499




Financial assets measured at fair value through profit or loss comprise soley cash at bank.


12.


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 £172 (2022 - £237). Contributions totalling £20 (2022 - £20) were payable to the fund at the balance sheet date and are included in creditors.


13.


Transactions with directors

Included in other creditors due within one year is a loan from the director, Mr S Turrell amounting to £(990) [2022 - £(990)].  


14.


Controlling party

The company was controlled throughout the current and previous period by its director S Turrell, by virtue of the fact that he controlls the majority of the company's ordinary issued share capital.

 
Page 11