Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseConsulting Company22The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue 06493173 2022-03-01 2023-02-28 06493173 2021-03-01 2022-02-28 06493173 2023-02-28 06493173 2022-02-28 06493173 c:Director1 2022-03-01 2023-02-28 06493173 d:FurnitureFittings 2022-03-01 2023-02-28 06493173 d:FurnitureFittings 2023-02-28 06493173 d:FurnitureFittings 2022-02-28 06493173 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 06493173 d:CurrentFinancialInstruments 2023-02-28 06493173 d:CurrentFinancialInstruments 2022-02-28 06493173 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 06493173 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 06493173 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 06493173 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 06493173 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 06493173 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-02-28 06493173 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 06493173 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 06493173 d:ShareCapital 2023-02-28 06493173 d:ShareCapital 2022-02-28 06493173 d:RetainedEarningsAccumulatedLosses 2023-02-28 06493173 d:RetainedEarningsAccumulatedLosses 2022-02-28 06493173 c:OrdinaryShareClass1 2022-03-01 2023-02-28 06493173 c:OrdinaryShareClass1 2023-02-28 06493173 c:FRS102 2022-03-01 2023-02-28 06493173 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 06493173 c:FullAccounts 2022-03-01 2023-02-28 06493173 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 06493173 d:UltimateParent 2023-02-28 06493173 d:UltimateParent 2022-02-28 06493173 d:WithinOneYear 2023-02-28 06493173 d:WithinOneYear 2022-02-28 06493173 d:BetweenOneFiveYears 2023-02-28 06493173 d:BetweenOneFiveYears 2022-02-28 06493173 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 06493173 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06493173










WE ARE OUTCOME LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
WE ARE OUTCOME LIMITED
REGISTERED NUMBER: 06493173

BALANCE SHEET
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,985
1,661

Current assets
  

Debtors: amounts falling due within one year
 5 
2,275
59,347

Cash at bank and in hand
 6 
14,711
-

  
16,986
59,347

Creditors: amounts falling due within one year
 7 
(30,651)
(50,992)

Net current (liabilities)/assets
  
 
 
(13,665)
 
 
8,355

Total assets less current liabilities
  
(11,680)
10,016

Creditors: amounts falling due after more than one year
  
(16,370)
(23,339)

Provisions for liabilities
  

Deferred tax
 9 
(496)
(415)

Net liabilities
  
(28,546)
(13,738)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(28,646)
(13,838)

  
(28,546)
(13,738)


Page 1

 
WE ARE OUTCOME LIMITED
REGISTERED NUMBER: 06493173

BALANCE SHEET (CONTINUED)
AS AT 28 FEBRUARY 2023

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.

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 22 November 2023.




................................................
Mr C Beswick
Director

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

Page 2

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


GENERAL INFORMATION

We Are Outcome Ltd is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company information page. 
The principal activity of the company in the year under review was that of the provision of professional services. The company provides consultancy and mentoring to business executives and owners. The company is an expert in creativity, design, leadership and innovation.

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's functional and presentational currency is GBP. These financial statements are rounded to the nearest pound.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

The company is reliant on the continued financial support of its directors and bankers which is expected to continue for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
The directors consider that the resources available to the company will be sufficient for it to be able to continue as a going concern. However, there is a high level of uncertainty about how long the restrictions will last and the level of demand once the restrictions have ended which could affect this assessment.
The financial statements do not contain any adjustments that would be required if the company were not able to continue as a going concern.

Page 3

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.4

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
2.5

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.

Page 4

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
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.

 
2.7

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 corporation 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.

 
2.8

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 5

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.8
TANGIBLE FIXED ASSETS (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line and reducing balance method.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment
-
33%
reducing balance and 50% 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.

 
2.9

DEBTORS

Short term debtors are measured at transaction price, 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.

 
2.12

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.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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.

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.
Page 6

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.ACCOUNTING POLICIES (CONTINUED)


2.12
FINANCIAL INSTRUMENTS (continued)


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 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.

Derecognition of financial assets

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

 
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 2 (2022 - 2).

Page 7

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


TANGIBLE FIXED ASSETS





Fixtures, fittings and equipment

£



Cost or valuation


At 1 March 2022
31,228


Additions
1,388



At 28 February 2023

32,616



Depreciation


At 1 March 2022
29,567


Charge for the year on owned assets
1,064



At 28 February 2023

30,631



Net book value



At 28 February 2023
1,985



At 28 February 2022
1,660


5.


DEBTORS

2023
2022
£
£


Trade debtors
-
12,750

Other debtors
2,064
46,053

Prepayments and accrued income
211
544

2,275
59,347



6.


CASH AND CASH EQUIVALENTS

2023
2022
£
£

Cash at bank and in hand
14,711
-

Less: bank overdrafts
-
(8,905)

14,711
(8,905)


Page 8

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

7.


CREDITORS: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
8,905

Other loans
7,051
6,915

Trade creditors
9,231
23,102

Corporation tax
7,413
671

Other taxation and social security
3,288
7,376

Other creditors
168
2,023

Accruals and deferred income
3,500
2,000

30,651
50,992



8.


LOANS


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
7,051
6,915

Amounts falling due 1-2 years

Bank loans
7,189
7,051

Amounts falling due 2-5 years

Bank loans
9,181
16,288


23,421
30,254


Page 9

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


DEFERRED TAXATION




2023


£






At beginning of year
(415)


Charged to profit or loss
(81)



At end of year
(496)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(496)
(415)


10.


SHARE CAPITAL

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1.0 each
100
100



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. The pension cost charge represents contributions payable by the Company to the fund and amounted to £1,122 (2022 - £1,122). Contributions totalling £168 (2022 - £Nil) were payable to the fund at the balance sheet date.


12.


COMMITMENTS UNDER OPERATING LEASES

At 28 February 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
6,830
-

Later than 1 year and not later than 5 years
18,781
-

25,611
-

Page 10

 
WE ARE OUTCOME LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

13.


RELATED PARTY TRANSACTIONS

At the year end amounts totalling £989 (2021 - £44,979) was owed by the directors.


14.


CONTROLLING PARTY

The ultimate controlling party is Mr & Mrs Beswick by virtue of their 100% shareholding.


Page 11