Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseManagement consultancy activities other than financial management22falsetrue 10541549 2023-01-01 2023-12-31 10541549 2022-01-01 2022-12-31 10541549 2023-12-31 10541549 2022-12-31 10541549 c:Director2 2023-01-01 2023-12-31 10541549 d:PlantMachinery 2023-01-01 2023-12-31 10541549 d:PlantMachinery 2023-12-31 10541549 d:PlantMachinery 2022-12-31 10541549 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10541549 d:MotorVehicles 2023-01-01 2023-12-31 10541549 d:MotorVehicles 2023-12-31 10541549 d:MotorVehicles 2022-12-31 10541549 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10541549 d:ComputerEquipment 2023-01-01 2023-12-31 10541549 d:ComputerEquipment 2023-12-31 10541549 d:ComputerEquipment 2022-12-31 10541549 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10541549 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 10541549 d:CurrentFinancialInstruments 2023-12-31 10541549 d:CurrentFinancialInstruments 2022-12-31 10541549 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10541549 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10541549 d:ShareCapital 2023-12-31 10541549 d:ShareCapital 2022-12-31 10541549 d:RetainedEarningsAccumulatedLosses 2023-12-31 10541549 d:RetainedEarningsAccumulatedLosses 2022-12-31 10541549 c:FRS102 2023-01-01 2023-12-31 10541549 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10541549 c:FullAccounts 2023-01-01 2023-12-31 10541549 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10541549









SDEP LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SDEP LTD
REGISTERED NUMBER: 10541549

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
25,356
43,738

  
25,356
43,738

Current assets
  

Debtors: amounts falling due within one year
 6 
46,674
39,992

Cash at bank and in hand
 7 
33,266
106,435

  
79,940
146,427

Creditors: amounts falling due within one year
 8 
(57,139)
(85,444)

Net current assets
  
 
 
22,801
 
 
60,983

Total assets less current liabilities
  
48,157
104,721

  

Net assets
  
48,157
104,721


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
48,057
104,621

  
48,157
104,721


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 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 by: 




Page 1

 
SDEP LTD
REGISTERED NUMBER: 10541549
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

R Carr
Director

Date: 7 February 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SDEP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

SDEP Ltd is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the Company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report. 

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.

 
2.3

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.

Page 3

 
SDEP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.5

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:

Plant and machinery
-
25%
Straight line
Motor vehicles
-
25%
Straight line
Computer equipment
-
25%
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 profit or loss.

Page 4

 
SDEP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

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.

Page 5

 
SDEP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates


4.


Employees

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


5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
7,484
67,790
17,133
92,407


Additions
3,251
-
-
3,251



At 31 December 2023

10,735
67,790
17,133
95,658



Depreciation


At 1 January 2023
4,418
34,166
10,085
48,669


Charge for the year on owned assets
2,684
17,083
1,866
21,633



At 31 December 2023

7,102
51,249
11,951
70,302



Net book value



At 31 December 2023
3,633
16,541
5,182
25,356



At 31 December 2022
3,066
33,624
7,048
43,738

Page 6

 
SDEP LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
15,600
12,000

Prepayments and accrued income
233
452

Deferred taxation
30,841
27,540

46,674
39,992



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
33,266
106,435

33,266
106,435



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
10,502
8,595

Other creditors
45,062
75,349

Accruals and deferred income
1,575
1,500

57,139
85,444



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 £120,000 (2022 - £40,000)


10.


Related party transactions

At the balance sheet date, there was a director's loan account balance of £45,062 (2022: £75,349) to be repaid to the directors. The loan is interest free and repayable on demand.

 
Page 7