Caseware UK (AP4) 2023.0.135 2023.0.135 false2022-05-01No description of principal activity23truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11295292 2022-05-01 2023-07-31 11295292 2021-05-01 2022-04-30 11295292 2023-07-31 11295292 2022-04-30 11295292 c:Director1 2022-05-01 2023-07-31 11295292 d:OfficeEquipment 2022-05-01 2023-07-31 11295292 d:OfficeEquipment 2023-07-31 11295292 d:OfficeEquipment 2022-04-30 11295292 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-07-31 11295292 d:ComputerEquipment 2022-05-01 2023-07-31 11295292 d:ComputerEquipment 2023-07-31 11295292 d:ComputerEquipment 2022-04-30 11295292 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-05-01 2023-07-31 11295292 d:OwnedOrFreeholdAssets 2022-05-01 2023-07-31 11295292 d:CurrentFinancialInstruments 2023-07-31 11295292 d:CurrentFinancialInstruments 2022-04-30 11295292 d:Non-currentFinancialInstruments 2023-07-31 11295292 d:Non-currentFinancialInstruments 2022-04-30 11295292 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 11295292 d:CurrentFinancialInstruments d:WithinOneYear 2022-04-30 11295292 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 11295292 d:Non-currentFinancialInstruments d:AfterOneYear 2022-04-30 11295292 d:ShareCapital 2023-07-31 11295292 d:ShareCapital 2022-04-30 11295292 d:SharePremium 2023-07-31 11295292 d:SharePremium 2022-04-30 11295292 d:RetainedEarningsAccumulatedLosses 2023-07-31 11295292 d:RetainedEarningsAccumulatedLosses 2022-04-30 11295292 c:OrdinaryShareClass1 2022-05-01 2023-07-31 11295292 c:OrdinaryShareClass1 2023-07-31 11295292 c:OrdinaryShareClass1 2022-04-30 11295292 c:FRS102 2022-05-01 2023-07-31 11295292 c:AuditExemptWithAccountantsReport 2022-05-01 2023-07-31 11295292 c:FullAccounts 2022-05-01 2023-07-31 11295292 c:PrivateLimitedCompanyLtd 2022-05-01 2023-07-31 11295292 6 2022-05-01 2023-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11295292










Succeed Social Care Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the period ended 31 July 2023

 
Succeed Social Care Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Succeed Social Care Ltd for the period ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Succeed Social Care Ltd for the period ended 31 July 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Succeed Social Care Ltd, as a body, in accordance with the terms of our engagement letter dated 13 October 2020Our work has been undertaken solely to prepare for your approval the financial statements of Succeed Social Care Ltd  and state those matters that we have agreed to state to the Board of directors of Succeed Social Care Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Succeed Social Care Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Succeed Social Care Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Succeed Social Care Ltd. You consider that Succeed Social Care Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or review of the financial statements of Succeed Social Care Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Discovery Park
16 October 2023
Page 1

 
Succeed Social Care Ltd
Registered number: 11295292

Balance sheet
As at 31 July 2023

31 July
30 April
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,649
6,010

Investments
 5 
38
38

  
14,687
6,048

Current assets
  

Debtors: amounts falling due after more than one year
 6 
2,000
-

Debtors: amounts falling due within one year
 6 
84,604
240,124

Cash at bank and in hand
  
3,410
10,177

  
90,014
250,301

Creditors: amounts falling due within one year
 7 
(428,262)
(766,348)

Net current liabilities
  
 
 
(338,248)
 
 
(516,047)

Total assets less current liabilities
  
(323,561)
(509,999)

Creditors: amounts falling due after more than one year
  
(533,543)
-

  

Net liabilities
  
(857,104)
(509,999)


Capital and reserves
  

Called up share capital 
  
93
93

Share premium account
  
249,982
199,982

Profit and loss account
  
(1,107,179)
(710,074)

  
(857,104)
(509,999)


Page 2

 
Succeed Social Care Ltd
Registered number: 11295292

Balance sheet (continued)
As at 31 July 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 period 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 on 16 October 2023.




J Toomey
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
Succeed Social Care Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2023

1.


General information

Succeed Social Care Ltd ("the company") is a private company limited by shares and is incorporated in England with the registration number 11295292. The address of the registered office is C/O Kreston Reeves LLP Innovation House, Innovation Way, Discovery Park, Sandwich, Kent, United Kingdom, CT13 9FF.

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

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in
operational existence for the forseeable future. Thus they continue to adopt the going concern basis
in preparing the annual financial statements.

 
2.3

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of income and retained earnings on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 May 2021 to continue to be charged over the period to the first market rent review rather than the term of the lease.

Page 4

 
Succeed Social Care Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

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.

 
2.9

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
-
20%
Computer equipment
-
33%

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.

Page 5

 
Succeed Social Care Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2023

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

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.

 
2.12

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.

 
2.13

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.

Page 6

 
Succeed Social Care Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

The Company only enters into basic financial instrument 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 ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of income and retained earnings if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an 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.

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or income as appropriate. The company does not currently apply hedge accounting for interest rate and foreign exchange derivatives.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 - 3).

Page 7

 
Succeed Social Care Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2023

4.


Tangible fixed assets







Computer equipment
Office equipment
Total

£
£
£



Cost or valuation


At 1 May 2022
25,814
-
25,814


Additions
14,898
2,001
16,899



At 31 July 2023

40,712
2,001
42,713



Depreciation


At 1 May 2022
19,804
-
19,804


Charge for the period on owned assets
8,137
123
8,260



At 31 July 2023

27,941
123
28,064



Net book value



At 31 July 2023
12,771
1,878
14,649



At 30 April 2022
6,010
-
6,010


5.


Fixed asset investments








Investments in subsidiary companies

£



Cost or valuation


At 1 May 2022
38



At 31 July 2023
38




Page 8

 
Succeed Social Care Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2023

6.


Debtors

31 July
30 April
2023
2022
£
£

Due after more than one year

Other debtors
2,000
-

2,000
-


31 July
30 April
2023
2022
£
£

Due within one year

Amounts owed by group undertakings
58,070
207,199

Other debtors
23,070
29,120

Prepayments and accrued income
3,464
3,805

84,604
240,124



7.


Creditors: Amounts falling due within one year

31 July
30 April
2023
2022
£
£

Bank loans
43,958
46,602

Trade creditors
33,534
78,738

Amounts owed to group undertakings
274,463
34

Other taxation and social security
11,098
33,111

Other creditors
60,276
605,730

Accruals and deferred income
4,933
2,133

428,262
766,348



8.


Creditors: Amounts falling due after more than one year

31 July
30 April
2023
2022
£
£

Other creditors
533,543
-

533,543
-


Page 9

 
Succeed Social Care Ltd
 

 
Notes to the financial statements
For the period ended 31 July 2023

9.


Share capital

31 July
30 April
2023
2022
£
£
Allotted, called up and fully paid



9,300 (2022 - 9,300) Ordinary shares shares of £0.01 each
93
93



10.


Related party transactions

All related party transactions during the current and prior periods, including key management personnel compensation, were made under normal market conditions.


11.


Controlling party

The directors consider there to be no ultimate controlling party.


Page 10