Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31false2022-04-01No description of principal activity22truefalseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07573384 2022-04-01 2023-03-31 07573384 2021-04-01 2022-03-31 07573384 2023-03-31 07573384 2022-03-31 07573384 c:Director1 2022-04-01 2023-03-31 07573384 d:OfficeEquipment 2022-04-01 2023-03-31 07573384 d:OfficeEquipment 2023-03-31 07573384 d:OfficeEquipment 2022-03-31 07573384 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07573384 d:FreeholdInvestmentProperty 2022-04-01 2023-03-31 07573384 d:FreeholdInvestmentProperty 2023-03-31 07573384 d:CurrentFinancialInstruments 2023-03-31 07573384 d:CurrentFinancialInstruments 2022-03-31 07573384 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07573384 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07573384 d:ShareCapital 2023-03-31 07573384 d:ShareCapital 2022-03-31 07573384 d:RetainedEarningsAccumulatedLosses 2023-03-31 07573384 d:RetainedEarningsAccumulatedLosses 2022-03-31 07573384 c:FRS102 2022-04-01 2023-03-31 07573384 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 07573384 c:FullAccounts 2022-04-01 2023-03-31 07573384 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07573384 2 2022-04-01 2023-03-31 07573384 6 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 07573384










PCNOW SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
PCNOW SERVICES LIMITED
REGISTERED NUMBER: 07573384

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
852
-

Investments
 5 
36,790
36,790

Investment property
 6 
141,324
-

  
178,966
36,790

Current assets
  

Debtors: amounts falling due within one year
 7 
131,204
181,324

Cash at bank and in hand
  
226,519
253,696

  
357,723
435,020

Creditors: amounts falling due within one year
 8 
(18,538)
(16,465)

Net current assets
  
 
 
339,185
 
 
418,555

Total assets less current liabilities
  
518,151
455,345

  

Net assets
  
518,151
455,345


Capital and reserves
  

Called up share capital 
  
36
36

Profit and loss account
  
518,115
455,309

  
518,151
455,345


Page 1

 
PCNOW SERVICES LIMITED
REGISTERED NUMBER: 07573384
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 income statement 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 6 November 2023.




................................................
Dr M McCullagh
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

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

1.


General information

PCNOW Services Limited is a private company limited by shares and incorporated in England and Wales, registration number 07573384. The registered office is 8 The Courtyard, Wyncolls Road, Severalls Industrial Park, Colchester, Essex, CO4 9PE.

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 financial statements are presented in sterling, which is the functional currency of the company, and rounded to the nearest £.
 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
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

Interest income

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

 
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.

Page 3

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

2.Accounting policies (continued)

 
2.5

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 reporting date in the countries where the Company operates and generates income.

 
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:

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.

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
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.

Page 4

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

2.Accounting policies (continued)

 
2.10

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2022
399


Additions
1,049



At 31 March 2023

1,448



Depreciation


At 1 April 2022
399


Charge for the year on owned assets
197



At 31 March 2023

596



Net book value



At 31 March 2023
852



At 31 March 2022
-

Page 5

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

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 April 2022
36,790



At 31 March 2023
36,790





6.


Investment property


Freehold investment property

£



Valuation


Additions at cost
141,324



At 31 March 2023
141,324

The 2023 valuations were made by the director's, on an open market value for existing use basis.





7.


Debtors

2023
2022
£
£


Trade debtors
-
40,000

Other debtors
129,104
662

Prepayments and accrued income
2,100
140,662

131,204
181,324


Page 6

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

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
2,100
-

Corporation tax
14,458
14,665

Accruals and deferred income
1,980
1,800

18,538
16,465



9.


Related party transactions

At the year end date, a related party owed to the company £50,000.


10.


Transactions with directors

During the year the company purchased an Investment Property from the directors.
At the year end date, the directors owed the company £79,104 (2022: £662). 

 
Page 7