Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01false19No description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02289762 2022-07-01 2023-06-30 02289762 2021-07-01 2022-06-30 02289762 2023-06-30 02289762 2022-06-30 02289762 c:Director3 2022-07-01 2023-06-30 02289762 d:Buildings 2022-07-01 2023-06-30 02289762 d:Buildings 2023-06-30 02289762 d:Buildings 2022-06-30 02289762 d:Buildings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02289762 d:Buildings d:LongLeaseholdAssets 2022-07-01 2023-06-30 02289762 d:OfficeEquipment 2022-07-01 2023-06-30 02289762 d:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 02289762 d:OtherPropertyPlantEquipment 2023-06-30 02289762 d:OtherPropertyPlantEquipment 2022-06-30 02289762 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02289762 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02289762 d:CurrentFinancialInstruments 2023-06-30 02289762 d:CurrentFinancialInstruments 2022-06-30 02289762 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02289762 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 02289762 d:ShareCapital 2023-06-30 02289762 d:ShareCapital 2022-06-30 02289762 d:SharePremium 2023-06-30 02289762 d:SharePremium 2022-06-30 02289762 d:CapitalRedemptionReserve 2023-06-30 02289762 d:CapitalRedemptionReserve 2022-06-30 02289762 d:RetainedEarningsAccumulatedLosses 2023-06-30 02289762 d:RetainedEarningsAccumulatedLosses 2022-06-30 02289762 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-07-01 2023-06-30 02289762 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-06-30 02289762 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-06-30 02289762 c:OrdinaryShareClass1 2022-07-01 2023-06-30 02289762 c:OrdinaryShareClass1 2023-06-30 02289762 c:FRS102 2022-07-01 2023-06-30 02289762 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 02289762 c:FullAccounts 2022-07-01 2023-06-30 02289762 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02289762 d:WithinOneYear 2023-06-30 02289762 d:WithinOneYear 2022-06-30 02289762 d:BetweenOneFiveYears 2023-06-30 02289762 d:BetweenOneFiveYears 2022-06-30 02289762 d:MoreThanFiveYears 2023-06-30 02289762 d:MoreThanFiveYears 2022-06-30 02289762 d:EntityControlledByKeyManagementPersonnel1 2022-07-01 2023-06-30 02289762 d:EntityControlledByKeyManagementPersonnel1 2023-06-30 02289762 d:EntityControlledByKeyManagementPersonnel2 2022-07-01 2023-06-30 02289762 d:EntityControlledByKeyManagementPersonnel2 2023-06-30 02289762 2 2022-07-01 2023-06-30 02289762 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02289762 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 02289762 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 02289762 d:TaxLossesCarry-forwardsDeferredTax 2022-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02289762









COMPUFILE SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
COMPUFILE SYSTEMS LIMITED
REGISTERED NUMBER: 02289762

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023


2023

2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
72,107
109,391

Current assets
  

Debtors: amounts falling due within one year
 5 
682,092
794,255

Cash at bank and in hand
 6 
1,870,688
1,624,874

  
2,552,780
2,419,129

Creditors: amounts falling due within one year
 7 
(1,324,900)
(1,158,921)

Net current assets
  
 
 
1,227,880
 
 
1,260,208

Total assets less current liabilities
  
1,299,987
1,369,599

Provisions for liabilities
  

Deferred tax
 8 
(16,743)
(25,782)

Other provisions
 9 
(15,000)
(63,750)

Net assets
  
1,268,244
1,280,067


Capital and reserves
  

Called up share capital 
 10 
4,914
4,914

Share premium account
  
285,936
285,936

Capital redemption reserve
  
132
132

Profit and loss account
  
977,262
989,085

  
1,268,244
1,280,067


Page 1

 
COMPUFILE SYSTEMS LIMITED
REGISTERED NUMBER: 02289762
    
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 12 March 2024.




M J Beckett
Director


The notes on pages 3 to 10 form part of these financial statements.

Page 2

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

1.


General information

Compufile Systems Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is The Sussex Barn, Peper Harow Park, Godalming, Surrey, GU8 6BQ.
The company provides software and expertise in business intelligence and data management.  

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.

Revenue is recognised when services are provided.

 
2.3

Going concern

The directors have taken consideration of the impact of inflationary pressures on the business and the withdrawal of the United Kingdom from the European Union. The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the Statement of financial position date. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

Page 3

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

2.Accounting policies (continued)

 
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 bases:

Leasehold improvements
-
25% Straight line
Other fixed assets
-
25-50% 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 the Statement of comprehensive income.

 
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

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 4

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

2.Accounting policies (continued)

 
2.8

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 the Statement of comprehensive income 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 the Statement of comprehensive income within 'other operating income'.

 
2.9

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.

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income 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.

Page 5

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

2.Accounting policies (continued)

 
2.11

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 the Statement of comprehensive income 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.

 
2.12

Interest income

Interest income is recognised in the Statement of comprehensive incomes using the effective interest method.

 
2.13

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 the Statement of comprehensive income 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.

 
2.14

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2022 - 19).

Page 6

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

4.


Tangible fixed assets





Leasehold improvements
Other fixed assets
Total

£
£
£



Cost


At 1 July 2022
44,479
353,936
398,415


Additions
-
386
386



At 30 June 2023

44,479
354,322
398,801



Depreciation


At 1 July 2022
44,479
244,545
289,024


Charge for the year
-
37,670
37,670



At 30 June 2023

44,479
282,215
326,694



Net book value



At 30 June 2023
-
72,107
72,107



At 30 June 2022
-
109,391
109,391

Page 7

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

5.


Debtors

2023
2022
£
£


Trade debtors
354,134
432,440

Other debtors
260,378
272,035

Prepayments and accrued income
67,580
89,780

682,092
794,255



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,870,688
1,624,874

1,870,688
1,624,874



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
23,456
22,774

Amounts owed to group undertakings
468,746
302,402

Corporation tax
120,093
40,765

Other taxation and social security
131,233
147,618

Other creditors
1,910
990

Accruals and deferred income
579,462
644,372

1,324,900
1,158,921


Page 8

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

8.


Deferred taxation




2023


£






At beginning of year
25,782


Credited to Statement of comprehensive income
(9,039)



At end of year
16,743

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
25,782
25,782

Tax losses carried forward
(9,039)
-

16,743
25,782


9.


Provisions




Provision for dilapidations

£





At 1 July 2022
63,750


Utilised in year
(48,750)



At 30 June 2023
15,000


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



491,400 Ordinary shares of £0.01 each
4,914
4,914


Page 9

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

11.


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 £127,490 (2022 - £111,542). Contributions totalling £737 (2022 - £725) were payable at the reporting date.


12.


Commitments under operating leases

At 30 June 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
76,900
19,225

Later than 1 year and not later than 5 years
230,700
307,600

Later than 5 years
57,675
57,675

365,275
384,500


13.


Transactions with directors

Included within other debtors is an amount of £184,803 (2022 - £184,803) due from M J Beckett, a director. The maximum amount outstanding during the year was £184,803.


14.


Related party transactions

The company has taken advantage of the exemption allowed by Financial Reporting Standard 102 not to disclose any transactions with other wholly owned members of the group.
At 30 June 2023, the company had amounts receivable of £16,155 
(2022 - £11,487) from a company under common control. The amounts recharged in the year were £58,698 (2022 - £71,604).
 
Included within other debtors is an amount of £2,760 (2022 - £7,153) due from companies under common control.


15.


Controlling party

The immediate holding company and the ultimate holding company are Compufile Systems Enterprises Limited and CSL Holdings Limited, respectively. The ultimate controlling party is M J Beckett by virtue of his shareholding in CSL Holdings Limited.

 
Page 10