Caseware UK (AP4) 2023.0.135 2023.0.135 2023-06-302023-06-30No description of principal activity2022-07-01false72truetrue 13731103 2022-07-01 2023-06-30 13731103 2021-07-01 2022-06-30 13731103 2023-06-30 13731103 2022-06-30 13731103 1 2022-07-01 2023-06-30 13731103 d:Director1 2022-07-01 2023-06-30 13731103 d:Director2 2022-07-01 2023-06-30 13731103 c:FurnitureFittings 2022-07-01 2023-06-30 13731103 c:FurnitureFittings 2023-06-30 13731103 c:FurnitureFittings 2022-06-30 13731103 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13731103 c:OfficeEquipment 2022-07-01 2023-06-30 13731103 c:OfficeEquipment 2023-06-30 13731103 c:OfficeEquipment 2022-06-30 13731103 c:OfficeEquipment c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13731103 c:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 13731103 c:CurrentFinancialInstruments 2023-06-30 13731103 c:CurrentFinancialInstruments 2022-06-30 13731103 c:Non-currentFinancialInstruments 2023-06-30 13731103 c:Non-currentFinancialInstruments 2022-06-30 13731103 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 13731103 c:CurrentFinancialInstruments c:WithinOneYear 2022-06-30 13731103 c:ShareCapital 2023-06-30 13731103 c:ShareCapital 2022-06-30 13731103 c:RetainedEarningsAccumulatedLosses 2023-06-30 13731103 c:RetainedEarningsAccumulatedLosses 2022-06-30 13731103 d:OrdinaryShareClass1 2022-07-01 2023-06-30 13731103 d:OrdinaryShareClass1 2023-06-30 13731103 d:OrdinaryShareClass1 2022-06-30 13731103 d:FRS102 2022-07-01 2023-06-30 13731103 d:Audited 2022-07-01 2023-06-30 13731103 d:FullAccounts 2022-07-01 2023-06-30 13731103 d:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 13731103 d:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 13731103









FINGLETON WHITE LTD









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
FINGLETON WHITE LTD
REGISTERED NUMBER: 13731103

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 5 
14,276
1,539

  
14,276
1,539

Current assets
  

Debtors: amounts falling due after more than one year
 6 
-
17,196

Debtors: amounts falling due within one year
 6 
674,866
69,214

Cash at bank and in hand
  
18,153
93,748

  
693,019
180,158

Creditors: amounts falling due within one year
 7 
(695,808)
(230,009)

Net current liabilities
  
 
 
(2,789)
 
 
(49,851)

Total assets less current liabilities
  
11,487
(48,312)

  

Net assets/(liabilities)
  
11,487
(48,312)


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
1,487
(58,312)

  
11,487
(48,312)


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 profit and loss account 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 April 2024.




D P Gleeson
F O'Mahony
Director
Director

The notes on pages 2 to 8 form part of these financial statements.
Page 1

 
FINGLETON WHITE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Fingleton White Ltd is a private company, limited by shares, domiciled in England & Wales, registration number 13731103. The registered office is 3rd Floor, Waverley House, 7-12 Noel Street, London, England, W1F 8GQ. The period covered by these financial statements is from 1 July 2022 to 30 June 2023. The comparative period related to the eight month period from 9 November 2021 to 30 June 2022.

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 directors believe that the Company has sufficient resources to ensure the Company meets its liabilities as they fall due. The directors have received an undertaking from the parent company confirming they will provide support if necessary.

 
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.

Turnover represents attributable revenue arising on contracts for services entered into by the Company. Contracts for services are accounted for as long-term contracts where contract activity falls into different accounting periods and it is concluded that the effect is material. In determining whether contracts should be accounted for as long-term contracts, the aggregate effect of all such contracts on the financial statements as a whole is considered. Where the substance of the contract is that the contratural obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of the contractural obligations. The amount of revenue recognised reflects the accrual of the right to consideration as contract activity progresses by reference to the value of work performed.

Page 2

 
FINGLETON WHITE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss 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.

 
2.6

Taxation

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.

 
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.

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:

Fixtures and fittings
-
15%
Office equipment
-
25%

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 3

 
FINGLETON WHITE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

  
2.8

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.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

In preparing these financial statement, the directors are required to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. Judgements and estimates are continually evaluated and are based on historical experiences and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 
The directors have applied the following significant judgements or estimates in the preparation of these financial statements:
a) Amounts recoverable on engineering contracts 
The company provides engineering services and is engaged in a number of long term contracts at the year end. As a result it is necessary to estimate the stage of completion of each contract to calculate the amounts recoverable on long term contracts at the year end.
b) Providing for doubtful debts 
The company makes an estimate of the recoverable value of trade and other debtors. The company uses estimates based on historical experience in determining the level of debts which the company believes will not be collected.  


4.


Employees

The average monthly number of employees, including directors, during the year/period was 7 (2022 - 2).

Page 4

 
FINGLETON WHITE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

5.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2022
1,687
-
1,687


Additions
11,478
4,312
15,790



At 30 June 2023

13,165
4,312
17,477



Depreciation


At 1 July 2022
148
-
148


Charge for the year on owned assets
1,975
1,078
3,053



At 30 June 2023

2,123
1,078
3,201



Net book value



At 30 June 2023
11,042
3,234
14,276



At 30 June 2022
1,539
-
1,539

Page 5

 
FINGLETON WHITE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Debtors

Year ending 30 June 2023
8 month period ending 30 June 2022
£
£

Due after more than one year

Other debtors
-
17,196

-
17,196


Year ending 30 June 2023
8 month period ending 30 June 2022
£
£

Due within one year

Trade debtors
319,835
-

Amounts owed by group undertakings
44,369
38,627

Other debtors
17,196
30,587

Prepayments and accrued income
537
-

Amounts recoverable on long term contracts
292,929
-

674,866
69,214


Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

Page 6

 
FINGLETON WHITE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: Amounts falling due within one year

Year ending 30 June 2023
8 month period ending 30 June 2022
£
£

Trade creditors
44,470
1,795

Amounts owed to group undertakings
510,778
200,000

Corporation tax
1,406
-

Other taxation and social security
17,682
-

Other creditors
4,434
4,253

Accruals and deferred income
117,038
23,961

695,808
230,009


Amounts owed to group undertakings are unsecured, interest free and repayable on demand.



8.


Share capital

Year ending 30 June 2023
8 month period ending 30 June 2022
£
£
Allotted, called up and fully paid



10,000 (2022 - 10,000) Ordinary shares of £1.00 each
10,000
10,000



9.


Pension commitments

The Company operates a defined contribution 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 £15,190 (2022 - £6,000). At 30 June 2023 there were contributions payable to the fund of £3,144 (2022 - £1,167).


10.


Related party transactions

The Company has taken the exemption under FRS 102, section 33 Related Party Disclosures paragraph 33.1A, whereby the Company is not required to disclose transactions with other wholly owned group undertakings.

Page 7

 
FINGLETON WHITE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

11.


Post balance sheet events

On 1 July 2023 a fellow subsidiary of the company, Project Design Engineers Limited, transferred 22 employees to the company under the Transfer of Undertakings (Protection of Employment) rules. 


12.


Controlling party

The immediate and ultimate parent company is Fingleton White & Co Limited, a company incorporated in Ireland. Fingleton White & Co Limited heads up the smallest group for which consolidated financial statements are prepared. The address of their registered office is Bridge Street Centre, Co. Laois Ireland, Portlaoise, Laois, R32 W0CC.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 12 April 2024 by Sally Casson (Senior Statutory Auditor) on behalf of Ecovis Wingrave Yeats LLP.

 
Page 8