Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31502022-04-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08387420 2022-04-01 2023-03-31 08387420 2021-04-01 2022-03-31 08387420 2023-03-31 08387420 2022-03-31 08387420 c:Director1 2022-04-01 2023-03-31 08387420 d:CurrentFinancialInstruments 2023-03-31 08387420 d:CurrentFinancialInstruments 2022-03-31 08387420 d:Non-currentFinancialInstruments 2023-03-31 08387420 d:Non-currentFinancialInstruments 2022-03-31 08387420 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08387420 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 08387420 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 08387420 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 08387420 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 08387420 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 08387420 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 08387420 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 08387420 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 08387420 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-03-31 08387420 d:ShareCapital 2023-03-31 08387420 d:ShareCapital 2022-03-31 08387420 d:RetainedEarningsAccumulatedLosses 2023-03-31 08387420 d:RetainedEarningsAccumulatedLosses 2022-03-31 08387420 c:FRS102 2022-04-01 2023-03-31 08387420 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 08387420 c:FullAccounts 2022-04-01 2023-03-31 08387420 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08387420 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 08387420










POP SERVICES (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
POP SERVICES (UK) LIMITED
REGISTERED NUMBER: 08387420

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
461,265
465,670

Cash at bank and in hand
 5 
7,426
-

  
468,691
465,670

Creditors: amounts falling due within one year
 6 
(385,521)
(376,003)

Net current assets
  
 
 
83,170
 
 
89,667

Creditors: amounts falling due after more than one year
 7 
(34,722)
(39,878)

  

Net assets
  
48,448
49,789


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
48,447
49,788

  
48,448
49,789


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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 by: 


Mr D Curran
Director

Date: 2 February 2024

The notes on pages 3 to 10 form part of these financial statements.
Page 1

 
POP SERVICES (UK) LIMITED
REGISTERED NUMBER: 08387420
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023


Page 2

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Pop Services (UK) Limited is a limited liability company incorporated in England and Wales. The Company registration number is 08387420. The registered address of the company is 910 The Crescent, Colchester Business Park, Colchester, Essex, CO4 9YQ. 
The financial statements are presented in pound sterling which is the functional currenct of the Company and rounded to the nearest pound.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. The Directors make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Company has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Company's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.

Page 3

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
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.

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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.

Page 4

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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.

 
2.10

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 5

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.11

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 has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Page 6

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

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 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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 7

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

3.


Employees

The average monthly number of employees, including the Directors, during the year was as follows:


        2023
        2022
            No.
            No.







Employees
22
50


4.


Debtors

2023
2022
£
£


Trade debtors
127,031
127,032

Amounts owed by group undertakings
145,317
145,317

Other debtors
188,917
193,321

461,265
465,670



5.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
7,426
-

Less: bank overdrafts
-
(10,349)

7,426
(10,349)


Page 8

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
10,349

Bank loans
5,556
5,955

Trade creditors
-
144

Amounts owed to group undertakings
298,910
290,828

Corporation tax
59,769
56,224

Other taxation and social security
10,574
956

Other creditors
8,912
9,237

Accruals and deferred income
1,800
2,310

385,521
376,003



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
34,722
39,878



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,556
5,955

Amounts falling due 1-2 years

Bank loans
5,555
5,955

Amounts falling due 2-5 years

Bank loans
16,667
16,266

Amounts falling due after more than 5 years

Bank loans
12,500
17,657

40,278
45,833


Page 9

 
POP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


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 £5,507 (2022 - £5,468) . Contributions totalling £1,011 (2022 - £1,151) were payable to the fund at the balance sheet date and are included in creditors.


10.


Related party transactions

The Company has taken advantage of the exemption in Section 33.1A in FRS 102 from the requirement to disclose transactions entered into with its parent company as a wholly owned subsidiary, or with any other wholly owned members of the group.


11.


Controlling party

Throughout the current and preceding year the ultimate parent undertaking of the Company was Pop Holdings (UK) Limited. The company was under the control of Mr D Curran and Mrs D Curran by virtue of their shareholding in Pop Holdings (UK) Limited.

 
Page 10