Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-013false3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00576527 2023-01-01 2023-12-31 00576527 2022-01-01 2022-12-31 00576527 2023-12-31 00576527 2022-12-31 00576527 c:Director1 2023-01-01 2023-12-31 00576527 c:Director2 2023-01-01 2023-12-31 00576527 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 00576527 d:Buildings d:ShortLeaseholdAssets 2023-12-31 00576527 d:Buildings d:ShortLeaseholdAssets 2022-12-31 00576527 d:PlantMachinery 2023-01-01 2023-12-31 00576527 d:PlantMachinery 2023-12-31 00576527 d:PlantMachinery 2022-12-31 00576527 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00576527 d:MotorVehicles 2023-01-01 2023-12-31 00576527 d:MotorVehicles 2023-12-31 00576527 d:MotorVehicles 2022-12-31 00576527 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00576527 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00576527 d:CurrentFinancialInstruments 2023-12-31 00576527 d:CurrentFinancialInstruments 2022-12-31 00576527 d:Non-currentFinancialInstruments 2023-12-31 00576527 d:Non-currentFinancialInstruments 2022-12-31 00576527 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00576527 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00576527 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 00576527 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 00576527 d:ShareCapital 2023-12-31 00576527 d:ShareCapital 2022-12-31 00576527 d:CapitalRedemptionReserve 2023-12-31 00576527 d:CapitalRedemptionReserve 2022-12-31 00576527 d:OtherMiscellaneousReserve 2023-12-31 00576527 d:OtherMiscellaneousReserve 2022-12-31 00576527 d:RetainedEarningsAccumulatedLosses 2023-12-31 00576527 d:RetainedEarningsAccumulatedLosses 2022-12-31 00576527 c:FRS102 2023-01-01 2023-12-31 00576527 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00576527 c:FullAccounts 2023-01-01 2023-12-31 00576527 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00576527 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 00576527 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 00576527 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 00576527 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 00576527 2 2023-01-01 2023-12-31 00576527 6 2023-01-01 2023-12-31 00576527 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
                                                                                                               Registered number: 00576527














S.S.EGLINGTON & SON LTD


UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
S.S.EGLINGTON & SON LTD
REGISTERED NUMBER:00576527

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,021,873
1,111,926

Investments
 5 
42
62

  
1,021,915
1,111,988

Current assets
  

Stocks
  
472,287
455,981

Debtors: amounts falling due within one year
 6 
42,751
65,223

Cash at bank and in hand
  
142,998
139,235

  
658,036
660,439

Creditors: amounts falling due within one year
 7 
(704,037)
(800,738)

Net current liabilities
  
 
 
(46,001)
 
 
(140,299)

Total assets less current liabilities
  
975,914
971,689

Creditors: amounts falling due after more than one year
 8 
-
(40,000)

Provisions for liabilities
  

Deferred tax
  
(174,882)
(180,961)

  
 
 
(174,882)
 
 
(180,961)

Net assets
  
801,032
750,728


Capital and reserves
  

Called up share capital 
  
3,350
3,350

Capital redemption reserve
  
900
900

Other reserves
  
21,189
21,189

Profit and loss account
  
775,593
725,289

  
801,032
750,728


Page 1

 
S.S.EGLINGTON & SON LTD
REGISTERED NUMBER:00576527
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 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 income statement 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 by: 




................................................
C D Eglington
................................................
Mrs J Eglington
Director
Director


Date: 26 March 2024

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

Page 2

 
S.S.EGLINGTON & SON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

S S Eglington & Son Ltd is a company limited by shares incorporated in England & Wales, registered number 00576527. the address of the registered office is North Hill Office, Letton, Thetford, Norfolk, IP25 7SA.

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. The policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover 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 turnover 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

Turnover 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 turnover 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.

Page 3

 
S.S.EGLINGTON & SON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

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.

 
2.4

Interest income

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

 
2.5

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.

 
2.6

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.

 
2.7

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
S.S.EGLINGTON & SON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.8

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, as detailed below.

Depreciation is provided on the following basis:

Property alterations
-
2% straight line
Plant & machinery
-
15% reducing balance
Motor vehicles
-
25% 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.

 
2.9

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Income statement for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

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 weighted average 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.

 
2.11

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.

Page 5

 
S.S.EGLINGTON & SON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

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 3 (2022 - 3).

Page 6

 
S.S.EGLINGTON & SON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





S/Term Leasehold Property
Plant & machinery
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 January 2023
438,180
1,651,048
29,703
2,118,931


Additions
-
43,000
-
43,000



At 31 December 2023

438,180
1,694,048
29,703
2,161,931



Depreciation


At 1 January 2023
108,058
884,805
14,142
1,007,005


Charge for the year on owned assets
7,776
121,387
3,890
133,053



At 31 December 2023

115,834
1,006,192
18,032
1,140,058



Net book value



At 31 December 2023
322,346
687,856
11,671
1,021,873



At 31 December 2022
330,122
766,243
15,561
1,111,926


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
62


Disposals
(20)



At 31 December 2023
42




Page 7

 
S.S.EGLINGTON & SON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
4,731
8,111

Other debtors
11,357
40,197

Prepayments and accrued income
26,663
16,915

42,751
65,223



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
24,023
83,745

Corporation tax
27,356
-

Other taxation and social security
12,723
26,280

Obligations under finance lease and hire purchase contracts
40,000
40,000

Other creditors
587,749
638,717

Accruals and deferred income
12,186
11,996

704,037
800,738



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
40,000

-
40,000


Page 8

 
S.S.EGLINGTON & SON LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
40,000
40,000

Between 1-5 years
-
40,000

40,000
80,000


10.


Related party transactions

The directors are also partners in a partnership. As at the 31 December 2023 the company owed the partnership £529,185 (2022:- £575,098). This amount is in included within creditors falling due within one year.


Page 9