Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02297263 2022-03-01 2023-02-28 02297263 2021-03-01 2022-02-28 02297263 2023-02-28 02297263 2022-02-28 02297263 c:CompanySecretary1 2022-03-01 2023-02-28 02297263 c:Director1 2022-03-01 2023-02-28 02297263 c:Director2 2022-03-01 2023-02-28 02297263 c:RegisteredOffice 2022-03-01 2023-02-28 02297263 d:Buildings d:LongLeaseholdAssets 2022-03-01 2023-02-28 02297263 d:Buildings d:LongLeaseholdAssets 2023-02-28 02297263 d:Buildings d:LongLeaseholdAssets 2022-02-28 02297263 d:FurnitureFittings 2022-03-01 2023-02-28 02297263 d:FurnitureFittings 2023-02-28 02297263 d:FurnitureFittings 2022-02-28 02297263 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02297263 d:OfficeEquipment 2022-03-01 2023-02-28 02297263 d:OfficeEquipment 2023-02-28 02297263 d:OfficeEquipment 2022-02-28 02297263 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02297263 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 02297263 d:CurrentFinancialInstruments 2023-02-28 02297263 d:CurrentFinancialInstruments 2022-02-28 02297263 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 02297263 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 02297263 d:ShareCapital 2023-02-28 02297263 d:ShareCapital 2022-02-28 02297263 d:RetainedEarningsAccumulatedLosses 2023-02-28 02297263 d:RetainedEarningsAccumulatedLosses 2022-02-28 02297263 c:FRS102 2022-03-01 2023-02-28 02297263 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-02-28 02297263 c:FullAccounts 2022-03-01 2023-02-28 02297263 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 02297263 d:WithinOneYear 2023-02-28 02297263 d:WithinOneYear 2022-02-28 02297263 d:BetweenOneFiveYears 2023-02-28 02297263 d:BetweenOneFiveYears 2022-02-28 iso4217:GBP xbrli:pure
Company registration number: 02297263







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2023


FOCUSLONG LIMITED






































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FOCUSLONG LIMITED
 


 
COMPANY INFORMATION


Directors
Mrs L E Lovegrove 
Mr S Herridge 




Company secretary
Mrs D Repetto



Registered number
02297263



Registered office
25 Bell Street

Romsey

Hampshire

SO51 8GY




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


FOCUSLONG LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


FOCUSLONG LIMITED
REGISTERED NUMBER:02297263



STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
216
276

  
216
276

Current assets
  

Stocks
  
13,507
37,726

Debtors: amounts falling due within one year
 5 
4,285
4,876

Cash at bank and in hand
  
70,127
75,336

  
87,919
117,938

Creditors: amounts falling due within one year
 6 
(67,469)
(74,761)

Net current assets
  
 
 
20,450
 
 
43,177

Total assets less current liabilities
  
20,666
43,453

  

Net assets
  
20,666
43,453

Page 1

 


FOCUSLONG LIMITED
REGISTERED NUMBER:02297263


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
20,664
43,451

  
20,666
43,453


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 by: 






Mrs L E Lovegrove
Director

Date: 28 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


FOCUSLONG LIMITED
 


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

1.


General information

Focuslong Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
The Company's functional and presentational currency is GBP and is 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.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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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 3

 


FOCUSLONG LIMITED
 


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

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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:

Lease premium
-
Over the term of the lease
Fixtures and fittings
-
25%
reducing balance
Office equipment
-
10%
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.

 
2.4

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.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 


FOCUSLONG LIMITED
 


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

2.Accounting policies (continued)

 
2.6

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 Statement of Financial Position 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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

Page 5

 


FOCUSLONG LIMITED
 


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

2.Accounting policies (continued)

 
2.10

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 6

 


FOCUSLONG LIMITED
 


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

4.


Tangible fixed assets





Lease premium and costs
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2022
7,351
30,818
320
38,489



At 28 February 2023

7,351
30,818
320
38,489



Depreciation


At 1 March 2022
7,351
30,612
250
38,213


Charge for the year on owned assets
-
52
7
59



At 28 February 2023

7,351
30,664
257
38,272



Net book value



At 28 February 2023
-
154
63
217



At 28 February 2022
-
206
70
276

Page 7

 


FOCUSLONG LIMITED
 


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

5.


Debtors

2023
2022
£
£


Other debtors
2,104
3,056

Prepayments and accrued income
2,181
1,820

4,285
4,876



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
51,181
44,832

Corporation tax
4,524
17,726

Other taxation and social security
6,336
6,697

Other creditors
3,103
3,256

Accruals and deferred income
2,325
2,250

67,469
74,761



7.


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
10,464
10,464

Later than 1 year and not later than 5 years
872
11,336

11,336
21,800


8.


Related party transactions

At the year end, included within creditors due under one year was a directors loan account balance due to the directors amounting to £774 (2022 - £876).

 
Page 8