Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-3122022-09-01falsesupply consultancy2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06683652 2022-09-01 2023-08-31 06683652 2021-09-01 2022-08-31 06683652 2023-08-31 06683652 2022-08-31 06683652 c:Director1 2022-09-01 2023-08-31 06683652 d:PlantMachinery 2023-08-31 06683652 d:PlantMachinery 2022-08-31 06683652 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06683652 d:FurnitureFittings 2022-09-01 2023-08-31 06683652 d:FurnitureFittings 2023-08-31 06683652 d:FurnitureFittings 2022-08-31 06683652 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06683652 d:ComputerEquipment 2022-09-01 2023-08-31 06683652 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 06683652 d:CurrentFinancialInstruments 2023-08-31 06683652 d:CurrentFinancialInstruments 2022-08-31 06683652 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 06683652 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 06683652 d:ShareCapital 2023-08-31 06683652 d:ShareCapital 2022-08-31 06683652 d:RetainedEarningsAccumulatedLosses 2023-08-31 06683652 d:RetainedEarningsAccumulatedLosses 2022-08-31 06683652 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-08-31 06683652 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-08-31 06683652 c:FRS102 2022-09-01 2023-08-31 06683652 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 06683652 c:FullAccounts 2022-09-01 2023-08-31 06683652 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 06683652 2 2022-09-01 2023-08-31 06683652 6 2022-09-01 2023-08-31 06683652 1 2023-08-31 06683652 1 2022-08-31 06683652 f:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 06683652









FRONTIER DEVELOPMENT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

 
FRONTIER DEVELOPMENT LIMITED
REGISTERED NUMBER: 06683652

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,057
2,570

Investments
 5 
105,102
102,419

  
107,159
104,989

Current assets
  

Debtors: amounts falling due within one year
 6 
9,872
35,979

Cash at bank and in hand
 7 
95,439
120,516

  
105,311
156,495

Creditors: amounts falling due within one year
 8 
(14,833)
(25,971)

Net current assets
  
 
 
90,478
 
 
130,524

Total assets less current liabilities
  
197,637
235,513

  

Net assets
  
197,637
235,513


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
196,637
234,513

  
197,637
235,513


Page 1

 
FRONTIER DEVELOPMENT LIMITED
REGISTERED NUMBER: 06683652
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 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 April 2024.





................................................
Paul David Hawkins
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
FRONTIER DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

The principal activity of the Company throughout the year was to supply consultancy and deliver leadership and general management training. The Company was incorporated in England and Wales and is a private company limited by share capital.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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

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.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
FRONTIER DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 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

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% reducing balance
Computer equipment
-
20% reducing balance

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

Valuation of investments

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.

Page 4

 
FRONTIER DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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. 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.

 
2.11

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.

 
2.12

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.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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
Page 5

 
FRONTIER DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

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.

 
2.13

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).

Page 6

 
FRONTIER DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Computer equipment
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 September 2022
7,271
2,040
9,311



At 31 August 2023

7,271
2,040
9,311



Depreciation


At 1 September 2022
6,037
704
6,741


Charge for the year on owned assets
506
7
513



At 31 August 2023

6,543
711
7,254



Net book value



At 31 August 2023
728
1,329
2,057



At 31 August 2022
1,234
1,336
2,570


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 September 2022
102,419


Additions
16,501


Disposals
(12,534)


Revaluations
(1,284)



At 31 August 2023
105,102






Net book value



At 31 August 2023
105,102



At 31 August 2022
102,419

Page 7

 
FRONTIER DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

6.


Debtors

2023
2022
£
£


Trade debtors
-
9,393

Other debtors
9,872
26,586

9,872
35,979


Included within other debtors due within one year is a loan to Paul David Hawkins and Susanna Hawkins, the directors, amounting to £NIL (2022 - £15,453). The loan is unsecured, interest free and repayable on demand.




7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
95,439
120,516

95,439
120,516



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
12,636
21,713

Other taxation and social security
667
2,963

Accruals and deferred income
1,530
1,295

14,833
25,971


Page 8

 
FRONTIER DEVELOPMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
200,541
-




Financial assets measured at fair value through profit or loss comprise cash at bank, in hand and investments.


10.


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 £40,000 (2022 - £nil). Contributions totalling £Nil (2022 - £Nil) were payable to the fund at the balance sheet date.


11.


Controlling party

The Company is controlled by the director Paul David Hawkins, by virtue of his shareholding, as described in the Directors' report. 

 
Page 9