Caseware UK (AP4) 2022.0.179 2022.0.179 2022-04-01falseprovision of management services5031truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 2175649 2022-04-01 2023-03-31 2175649 2021-04-01 2022-03-31 2175649 2023-03-31 2175649 2022-03-31 2175649 c:Director6 2022-04-01 2023-03-31 2175649 d:CurrentFinancialInstruments 2023-03-31 2175649 d:CurrentFinancialInstruments 2022-03-31 2175649 d:Non-currentFinancialInstruments 2023-03-31 2175649 d:Non-currentFinancialInstruments 2022-03-31 2175649 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 2175649 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 2175649 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 2175649 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 2175649 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 2175649 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 2175649 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 2175649 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 2175649 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 2175649 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 2175649 d:ShareCapital 2023-03-31 2175649 d:ShareCapital 2022-03-31 2175649 d:CapitalRedemptionReserve 2023-03-31 2175649 d:CapitalRedemptionReserve 2022-03-31 2175649 d:RetainedEarningsAccumulatedLosses 2023-03-31 2175649 d:RetainedEarningsAccumulatedLosses 2022-03-31 2175649 c:FRS102 2022-04-01 2023-03-31 2175649 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 2175649 c:FullAccounts 2022-04-01 2023-03-31 2175649 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 2175649 4 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 2175649










Firmdirect Limited









Financial statements

Information for filing with the registrar

For the Year Ended 31 March 2023

 
Firmdirect Limited
Registered number:2175649

Balance Sheet
As at 31 March 2023

2023
2022
                                                                                                                                        Note
£
£

  

Current assets
  

Debtors
 4 
960,459
623,771

Cash at bank and in hand
 5 
44,096
33,509

  
1,004,555
657,280

Creditors: amounts falling due within one year
 6 
(894,837)
(463,397)

Net current assets
  
109,718
193,883

Creditors: amounts falling due after more than one year
 7 
(36,487)
(43,060)

  

Net assets
  
73,231
150,823


Capital and reserves
  

Called up share capital 
  
1,644
3,000

Capital redemption reserve
  
3,122
1,766

Profit and loss account
  
68,465
146,057

  
73,231
150,823


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 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 18 August 2023.






Mrs L C Main
Director


 
Page 1

 
Firmdirect Limited
Registered number:2175649
    
Balance Sheet (continued)
As at 31 March 2023


The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Firmdirect Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

1.


General information

Firmdirect Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 9 Cobbins Grove, Burnham-On-Crouch, Essex CM0 8JP.
During the year the company purchase back 1,356 Ordinary shares for the consideration of £119,780. 

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 from a contract to provide services is recognised in the period in which the services are provided.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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

 
Firmdirect Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 50 (2022 - 31).

Page 4

 
Firmdirect Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

4.


Debtors

2023
2022
£
£


Trade debtors
954,540
623,481

Other debtors
-
290

Prepayments and accrued income
5,919
-

960,459
623,771



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
44,096
33,509



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,568
5,556

Trade creditors
-
(709)

Corporation tax
43,814
43,637

Other taxation and social security
247,051
172,459

Other creditors
597,404
241,703

Accruals and deferred income
-
751

894,837
463,397



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
36,487
43,060


Page 5

 
Firmdirect Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2023

8.


Loans


The bank loan was issued in December 2020 and is repayable in 60 monthly instalments starting December 2021 with interest payable at 2.5%. This loan is unsecured.


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,568
5,556

Amounts falling due 1-2 years

Bank loans
6,568
5,556

Amounts falling due 2-5 years

Bank loans
19,705
16,667

Amounts falling due after more than 5 years

Bank loans
10,214
20,838

43,055
48,617



9.


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 charge represents contributions payable by the company  to the fund and amounted to £31,714 (2022 - £19,045) .

 
Page 6