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Registered number: 01142562









KINGSMOOR PUBLICATIONS LIMITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2023

 
KINGSMOOR PUBLICATIONS LIMITED
REGISTERED NUMBER: 01142562

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 5 
3,510
4,095

Tangible assets
 6 
61,875
71,495

  
65,385
75,590

Current assets
  

Debtors: amounts falling due within one year
 7 
83,547
66,777

Cash at bank and in hand
  
377,373
506,887

  
460,920
573,664

Creditors: amounts falling due within one year
 8 
(358,366)
(416,728)

Net current assets
  
 
 
102,554
 
 
156,936

Total assets less current liabilities
  
167,939
232,526

Creditors: amounts falling due after more than one year
 9 
(43,504)
(50,933)

Provisions for liabilities
  

Deferred tax
  
-
(973)

Net assets
  
124,435
180,620


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
124,335
180,520

  
124,435
180,620


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: 



D J Roberts
Director

Date: 5 February 2024

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
KINGSMOOR PUBLICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales. The address of its registered office is Causeway House, 1 Dane Street, Bishop's Stortford, CM23 3BT. Its place of business is Braintree, Essex.

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 (FRS 102).

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:

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

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.

 
2.4

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 2

 
KINGSMOOR PUBLICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)


2.4
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 or reducing balance method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
straight line
Fixtures & fittings
-
10%
reducing balance
Office equipment
-
20%
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.

 
2.5

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.

 
2.6

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.

 
2.7

Financial instruments

The Company enters into basic financial instruments 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 non-puttable ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

 
2.8

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.

 
2.9

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

 
KINGSMOOR PUBLICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable.

 
2.11

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.

 
2.12

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.

 
2.13

Interest income

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

 
2.14

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 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet, 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 6).

Page 4

 
KINGSMOOR PUBLICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

4.


Taxation


2023
2022
£
£

Corporation tax


Current tax on profits for the year
17,481
29,498

Deferred tax


Origination and reversal of timing differences
(1,028)
644


Tax on profit
16,453
30,142

Factors affecting tax charge for the year

The tax assessed for the year is lower than (2022 - higher than) the standard rate of corporation tax in the UK of 20% (2022 - 19%). The differences are explained below:

2023
2022
£
£


Profit on ordinary activities before tax
85,268
157,235


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 20% (2022 - 19%)
17,054
29,875

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
140
267

Increase or decrease in pension fund prepayment leading to an increase (decrease) in tax
(382)
-

Re-measurement of tax - change in UK tax rate
(359)
-

Total tax charge for the year
16,453
30,142


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 5

 
KINGSMOOR PUBLICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

5.


Intangible assets




Computer software

£



Cost


At 1 June 2022
45,777



At 31 May 2023

45,777



Amortisation


At 1 June 2022
41,682


Charge for the year on owned assets
585



At 31 May 2023

42,267



Net book value



At 31 May 2023
3,510



At 31 May 2022
4,095




6.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2022
66,500
716
60,375
127,591


Additions
-
-
1,366
1,366



At 31 May 2023

66,500
716
61,741
128,957



Depreciation


At 1 June 2022
5,172
150
50,774
56,096


Charge for the year on owned assets
8,867
149
1,970
10,986



At 31 May 2023

14,039
299
52,744
67,082



Net book value



At 31 May 2023
52,461
417
8,997
61,875



At 31 May 2022
61,328
566
9,601
71,495

Page 6

 
KINGSMOOR PUBLICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

7.


Debtors

2023
2022
£
£


Trade debtors
67,143
44,512

Other debtors
1,682
3,933

Prepayments and accrued income
14,667
18,332

Deferred taxation
55
-

83,547
66,777



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
190,853
207,398

Trade creditors
24,250
19,162

Corporation tax
17,481
29,498

Other taxation and social security
31,284
42,555

Obligations under finance lease and hire purchase contracts
7,428
6,044

Other creditors
956
967

Accruals and deferred income
86,114
111,104

358,366
416,728



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
43,504
50,933


Secured loans
The hire purchase creditor is secured against the asset to which it relates.

Page 7

 
KINGSMOOR PUBLICATIONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
7,428
6,044

Between 1-5 years
43,504
50,933

50,932
56,977


11.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1 each
100
100



12.


Pension commitments

The Company operates a defined contribution 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 £11,162 (2022 - £10,161). The contributions payable to the fund at the balance sheet date were £956 (2022 - £967).


13.


Related party transactions

During the year the Company paid dividends of £125,000 (2022 - £170,000) to certain Directors. The Directors proposed no dividends to be paid after the year end. No amount was due to the Directors at the year end (2022 - £NIL).
During the year the Company priovided administrative support to a connected Charity at £NIL cost (2022 - £NIL).   During the year the Charity recharged rent costs totalling £4,775 (2022 - £4,548) to the Company.
During the year the Company paid consultancy fees totalling £5,000 (2022 - £9,000) to a Director. The amount due to them at the year end was £NIL (2022 - £NIL).  


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 May 2023 was unqualified.

The audit report was signed on 9 February 2024 by Richard Vass (Senior Statutory Auditor) on behalf of Price Bailey LLP.


Page 8