Caseware UK (AP4) 2022.0.179 2022.0.179 2023-05-312023-05-31falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-06-01Educational support services44truetrue 13422359 2022-06-01 2023-05-31 13422359 2021-05-26 2022-05-31 13422359 2023-05-31 13422359 2022-05-31 13422359 c:Director3 2022-06-01 2023-05-31 13422359 d:OfficeEquipment 2022-06-01 2023-05-31 13422359 d:OfficeEquipment 2023-05-31 13422359 d:OfficeEquipment 2022-05-31 13422359 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 13422359 d:CurrentFinancialInstruments 2023-05-31 13422359 d:CurrentFinancialInstruments 2022-05-31 13422359 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 13422359 d:CurrentFinancialInstruments d:WithinOneYear 2022-05-31 13422359 d:ShareCapital 2023-05-31 13422359 d:ShareCapital 2022-05-31 13422359 d:RetainedEarningsAccumulatedLosses 2023-05-31 13422359 d:RetainedEarningsAccumulatedLosses 2022-05-31 13422359 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-05-31 13422359 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-05-31 13422359 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2023-05-31 13422359 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:UnlistedNon-exchangeTraded 2022-05-31 13422359 d:AcceleratedTaxDepreciationDeferredTax 2023-05-31 13422359 d:AcceleratedTaxDepreciationDeferredTax 2022-05-31 13422359 c:FRS102 2022-06-01 2023-05-31 13422359 c:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 13422359 c:FullAccounts 2022-06-01 2023-05-31 13422359 c:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 iso4217:GBP xbrli:pure

Registered number:  13422359














SCHOOT LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


 
SCHOOT LIMITED
REGISTERED NUMBER: 13422359

BALANCE SHEET
AS AT 31 MAY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,030
714

  
1,030
714

Current assets
  

Debtors: amounts falling due within one year
 5 
73,399
39,642

Cash at bank and in hand
 6 
138,993
71,740

  
212,392
111,382

Creditors: amounts falling due within one year
 7 
(195,790)
(102,291)

Net current assets
  
 
 
16,602
 
 
9,091

Total assets less current liabilities
  
17,632
9,805

Provisions for liabilities
  

Deferred tax
 9 
(258)
(136)

  
 
 
(258)
 
 
(136)

Net assets
  
17,374
9,669


Capital and reserves
  

Called up share capital 
  
400
400

Profit and loss account
  
16,974
9,269

  
17,374
9,669


Page 1

 
SCHOOT LIMITED
REGISTERED NUMBER: 13422359
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 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 by: 




S Harris
Director

Date: 14 February 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SCHOOT 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, which is incorporated under the Companies Act 2006 and registered in England and Wales (No. 13422359). The registered office address is The Plaza, 100 Old Hall Street, Liverpool, L3 9QJ.
These financial statements present information about the company as an individual undertaking.The principal activity of the company is that of educational support services.

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:

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.

Page 3

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

2.Accounting policies (continued)

 
2.3

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 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.

 
2.4

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.

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:

Office 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.

 
2.5

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.

Page 4

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

2.Accounting policies (continued)

 
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

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.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

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.

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.

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
Page 5

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

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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.

 
2.10

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 4 (2022 - 4).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 June 2022
745


Additions
574



At 31 May 2023

1,319



Depreciation


At 1 June 2022
31


Charge for the year on owned assets
258



At 31 May 2023

289



Net book value



At 31 May 2023
1,030



At 31 May 2022
714

Page 6

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

5.


Debtors

2023
2022
£
£


Trade debtors
72,697
29,167

Other debtors
579
1,004

Prepayments and accrued income
123
9,471

73,399
39,642



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
138,993
71,740

138,993
71,740



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
13,552
5,641

Corporation tax
11,247
2,452

Other taxation and social security
3,139
-

Accruals and deferred income
167,852
94,198

195,790
102,291


Page 7

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

8.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
138,993
158,769

Financial assets measured at amortised cost
74,719
29,167

213,712
187,936


Financial liabilities


Financial liabilities measured at amortised cost
58,957
10,541


Financial assets measured at fair value through profit or loss comprise of cash at bank and in hand.


Financial assets measured at amortised cost comprise of trade debtors.


Financial liabilities measured at amortised cost comprise of trade creditors and accruals.

Page 8

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

9.


Deferred taxation




2023


£






At beginning of year
(136)


Charged to profit or loss
(122)



At end of year
(258)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(258)
(136)

(258)
(136)


10.


Controlling party

The company is under control of it's directors.

 
Page 9