Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-3122022-11-01falseDevelopment and sale of computer software2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02859817 2022-11-01 2023-10-31 02859817 2021-11-01 2022-10-31 02859817 2023-10-31 02859817 2022-10-31 02859817 c:Director2 2022-11-01 2023-10-31 02859817 d:Buildings 2022-11-01 2023-10-31 02859817 d:Buildings 2023-10-31 02859817 d:Buildings 2022-10-31 02859817 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02859817 d:PlantMachinery 2022-11-01 2023-10-31 02859817 d:PlantMachinery 2023-10-31 02859817 d:PlantMachinery 2022-10-31 02859817 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02859817 d:MotorVehicles 2022-11-01 2023-10-31 02859817 d:MotorVehicles 2023-10-31 02859817 d:MotorVehicles 2022-10-31 02859817 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02859817 d:ComputerEquipment 2022-11-01 2023-10-31 02859817 d:ComputerEquipment 2023-10-31 02859817 d:ComputerEquipment 2022-10-31 02859817 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02859817 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02859817 d:CurrentFinancialInstruments 2023-10-31 02859817 d:CurrentFinancialInstruments 2022-10-31 02859817 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 02859817 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 02859817 d:ShareCapital 2023-10-31 02859817 d:ShareCapital 2022-10-31 02859817 d:RetainedEarningsAccumulatedLosses 2023-10-31 02859817 d:RetainedEarningsAccumulatedLosses 2022-10-31 02859817 c:FRS102 2022-11-01 2023-10-31 02859817 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 02859817 c:FullAccounts 2022-11-01 2023-10-31 02859817 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02859817 2 2022-11-01 2023-10-31 02859817 6 2022-11-01 2023-10-31 02859817 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 02859817










CMACS (SOFTWARE) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
CMACS (SOFTWARE) LIMITED
REGISTERED NUMBER: 02859817

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
205,221
182,028

  
205,221
182,028

Current assets
  

Debtors: amounts falling due within one year
 5 
36,585
27,205

Current asset investments
  
500,000
-

Cash at bank and in hand
  
396,255
893,880

  
932,840
921,085

Creditors: amounts falling due within one year
 7 
(66,145)
(63,780)

Net current assets
  
 
 
866,695
 
 
857,305

Total assets less current liabilities
  
1,071,916
1,039,333

Provisions for liabilities
  

Deferred tax
  
(19,519)
(12,048)

  
 
 
(19,519)
 
 
(12,048)

Net assets
  
1,052,397
1,027,285


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
1,051,397
1,026,285

  
1,052,397
1,027,285


Page 1

 
CMACS (SOFTWARE) LIMITED
REGISTERED NUMBER: 02859817
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 or the directors' report 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: 




P J Van Riel
Director

Date: 7 February 2024

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

Page 2

 
CMACS (SOFTWARE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

CMACS (Software) Limited is a private company limited by shares and registered in England and Wales (02859817). The registered address is Park Corner, Old Hollow, Worth, West Sussex, RH10 4SZ.

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.

 
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

 
CMACS (SOFTWARE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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 4

 
CMACS (SOFTWARE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.7
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 method.

Depreciation is provided on the following basis:

Freehold property
-
5%
Straight line
Plant and machinery
-
25%
Straight line
Motor vehicles
-
10%
Straight line
Computer equipment
-
33%
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.

 
2.8

Investments

Current asset investments are measured at fair value at the balance sheet date.

 
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.

 
2.11

Creditors

Short-term creditors are measured at the transaction price.

 
2.12

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.

 
2.13

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.
Page 5

 
CMACS (SOFTWARE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)


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 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.

Page 6

 
CMACS (SOFTWARE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.14

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).


4.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 November 2022
177,503
53,544
-
749
231,796


Additions
-
791
35,098
-
35,889



At 31 October 2023

177,503
54,335
35,098
749
267,685



Depreciation


At 1 November 2022
-
49,518
-
250
49,768


Charge for the year on owned assets
8,875
1,524
2,047
250
12,696



At 31 October 2023

8,875
51,042
2,047
500
62,464



Net book value



At 31 October 2023
168,628
3,293
33,051
249
205,221



At 31 October 2022
177,503
4,026
-
499
182,028

Page 7

 
CMACS (SOFTWARE) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
18,821
4,847

Prepayments and accrued income
17,764
22,358

36,585
27,205



6.


Current asset investments

2023
2022
£
£

Short fixed term cash deposits
500,000
-



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
3,956
8,206

Corporation tax
23,030
7,794

Other taxation and social security
4,093
3,657

Other creditors
4,964
22,687

Accruals and deferred income
30,102
21,436

66,145
63,780



8.


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 £12,600 (2022 - £12,600).


9.


Related party transactions

Included in other creditors is an interest free loan to the value of £4,964 (2022 - £22,687) owed to the directors of the company. 

 
Page 8