Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true172022-07-01false17true 06932748 2022-07-01 2023-06-30 06932748 2021-07-01 2022-06-30 06932748 2023-06-30 06932748 2022-06-30 06932748 2021-07-01 06932748 c:Director2 2022-07-01 2023-06-30 06932748 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 06932748 d:Buildings d:LongLeaseholdAssets 2023-06-30 06932748 d:Buildings d:LongLeaseholdAssets 2022-06-30 06932748 d:PlantMachinery 2022-07-01 2023-06-30 06932748 d:PlantMachinery 2023-06-30 06932748 d:PlantMachinery 2022-06-30 06932748 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06932748 d:MotorVehicles 2022-07-01 2023-06-30 06932748 d:MotorVehicles 2023-06-30 06932748 d:MotorVehicles 2022-06-30 06932748 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06932748 d:OfficeEquipment 2022-07-01 2023-06-30 06932748 d:OfficeEquipment 2023-06-30 06932748 d:OfficeEquipment 2022-06-30 06932748 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06932748 d:ComputerEquipment 2022-07-01 2023-06-30 06932748 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 06932748 d:CurrentFinancialInstruments 2023-06-30 06932748 d:CurrentFinancialInstruments 2022-06-30 06932748 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 06932748 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 06932748 d:ShareCapital 2022-07-01 2023-06-30 06932748 d:ShareCapital 2023-06-30 06932748 d:ShareCapital 2021-07-01 2022-06-30 06932748 d:ShareCapital 2022-06-30 06932748 d:ShareCapital 2021-07-01 06932748 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 06932748 d:RetainedEarningsAccumulatedLosses 2023-06-30 06932748 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 06932748 d:RetainedEarningsAccumulatedLosses 2022-06-30 06932748 d:RetainedEarningsAccumulatedLosses 2021-07-01 06932748 c:FRS102 2022-07-01 2023-06-30 06932748 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 06932748 c:FullAccounts 2022-07-01 2023-06-30 06932748 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 06932748 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 06932748 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 06932748 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 06932748 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 06932748 2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 06932748










UK INSPECTION SYSTEMS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
UK INSPECTION SYSTEMS LIMITED
REGISTERED NUMBER: 06932748

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
75,644
62,808

  
75,644
62,808

Current assets
  

Stocks
  
324,091
275,309

Debtors: amounts falling due within one year
 5 
458,181
560,552

Bank and cash balances
  
504,824
484,223

  
1,287,096
1,320,084

Creditors: amounts falling due within one year
 6 
(433,814)
(379,444)

Net current assets
  
 
 
853,282
 
 
940,640

Total assets less current liabilities
  
928,926
1,003,448

Provisions for liabilities
  

Deferred tax
 7 
(15,417)
(12,282)

  
 
 
(15,417)
 
 
(12,282)

Net assets
  
913,509
991,166


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
913,409
991,066

  
913,509
991,166


Page 1

 
UK INSPECTION SYSTEMS LIMITED
REGISTERED NUMBER: 06932748
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 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 comprehensive income 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 27 February 2024.




Roy Hammond
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
UK INSPECTION SYSTEMS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2022
100
991,066
991,166


Comprehensive income for the year

Profit for the year

-
66,793
66,793


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
66,793
66,793


Contributions by and distributions to owners

Capital distribution
-
(144,450)
(144,450)


Total transactions with owners
-
(144,450)
(144,450)


At 30 June 2023
100
913,409
913,509


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
UK INSPECTION SYSTEMS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 July 2021
100
834,374
834,474


Comprehensive income for the year

Profit for the year

-
166,692
166,692


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
166,692
166,692


Contributions by and distributions to owners

Dividends: Equity capital
-
(10,000)
(10,000)


Total transactions with owners
-
(10,000)
(10,000)


At 30 June 2022
100
991,066
991,166


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
UK INSPECTION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

UK Inspection Systems Limited (06932748) is a private company limited by shares and incorporated in England and Wales. Its registered office is Unit 15, Hercules Way, Farnborough, Hampshire, GU14 6UU.

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.

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

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 5

 
UK INSPECTION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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, using the straight-line method.

Depreciation is provided on the following basis:

Leasehold improvements
-
10%
Plant and machinery
-
25%
Motor vehicles
-
25%
Office equipment
-
25%
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.

 
2.4

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.

 
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 has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its 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 non-puttable ordinary shares.
     
Debt instruments (other than those wholly repayable or receivable within one year), including loans
Page 6

 
UK INSPECTION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

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 financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan  not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

 
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.

 
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.

Page 7

 
UK INSPECTION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
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 Statement of financial position. 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.

Page 8

 
UK INSPECTION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

 
2.15

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 reporting 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 reporting 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 reporting date.

 
2.16

Borrowing costs

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


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 17).

Page 9

 
UK INSPECTION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 July 2022
29,075
107,945
40,985
16,351
194,356


Additions
-
200
31,995
1,952
34,147



At 30 June 2023

29,075
108,145
72,980
18,303
228,503



Depreciation


At 1 July 2022
5,816
107,720
8,467
9,545
131,548


Charge for the year on owned assets
2,907
137
15,266
3,001
21,311



At 30 June 2023

8,723
107,857
23,733
12,546
152,859



Net book value



At 30 June 2023
20,352
288
49,247
5,757
75,644



At 30 June 2022
23,259
225
32,518
6,806
62,808


5.


Debtors

2023
2022
£
£


Trade debtors
225,845
323,998

Other debtors
220,000
220,000

Prepayments and accrued income
12,336
16,554

458,181
560,552


Page 10

 
UK INSPECTION SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
59

Trade creditors
211,405
179,249

Corporation tax
12,747
37,162

Other taxation and social security
57,515
22,456

Other creditors
4,668
8,185

Accruals and deferred income
147,479
132,333

433,814
379,444



7.


Deferred taxation




2023


£






At beginning of year
(12,282)


Charged to profit or loss
(3,135)



At end of year
(15,417)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(16,083)
(12,694)

Sort term differences
666
412

(15,417)
(12,282)

 
Page 11