Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity1515truetrue 00093175 2023-01-01 2023-12-31 00093175 2022-01-01 2022-12-31 00093175 2023-12-31 00093175 2022-12-31 00093175 c:CompanySecretary1 2023-01-01 2023-12-31 00093175 c:Director1 2023-01-01 2023-12-31 00093175 c:Director2 2023-01-01 2023-12-31 00093175 c:Director2 2023-12-31 00093175 c:Director3 2023-01-01 2023-12-31 00093175 c:Director4 2023-01-01 2023-12-31 00093175 c:Director5 2023-01-01 2023-12-31 00093175 c:Director6 2023-01-01 2023-12-31 00093175 c:Director7 2023-01-01 2023-12-31 00093175 c:Director8 2023-01-01 2023-12-31 00093175 c:Director9 2023-01-01 2023-12-31 00093175 c:Director10 2023-01-01 2023-12-31 00093175 c:Director11 2023-01-01 2023-12-31 00093175 c:Director12 2023-01-01 2023-12-31 00093175 c:Director13 2023-01-01 2023-12-31 00093175 c:Director14 2023-01-01 2023-12-31 00093175 c:Director15 2023-01-01 2023-12-31 00093175 c:Director15 2023-12-31 00093175 c:Director16 2023-01-01 2023-12-31 00093175 c:Director16 2023-12-31 00093175 c:RegisteredOffice 2023-01-01 2023-12-31 00093175 c:Agent1 2023-01-01 2023-12-31 00093175 d:CurrentFinancialInstruments 2023-12-31 00093175 d:CurrentFinancialInstruments 2022-12-31 00093175 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00093175 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00093175 d:RetainedEarningsAccumulatedLosses 2023-12-31 00093175 d:RetainedEarningsAccumulatedLosses 2022-12-31 00093175 c:FRS102 2023-01-01 2023-12-31 00093175 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00093175 c:FullAccounts 2023-01-01 2023-12-31 00093175 c:CompanyLimitedByGuarantee 2023-01-01 2023-12-31 00093175 2 2023-01-01 2023-12-31 00093175 6 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 00093175







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


THE NOTARIES SOCIETY
(A Company Limited by Guarantee)






































img08ce.png                        

 


THE NOTARIES SOCIETY
 
(A Company Limited by Guarantee)
 


 
COMPANY INFORMATION


Directors
S Gordon 
T A Hoyle (Retired 15 September 2023)
M Lightowler 
A W Northey 
B K Holland 
A M Johnson 
S J Marriott 
J R Gibbons 
L Carter 
R T J Bond 
S C Nightingale 
J P Hewitt 
F J Fleming 
L M Vaz 
A Gaglione (appointed 15 September 2023)
L G Gouveia Simonetti (appointed 15 September 2023)




Company secretary
C J Vaughan



Registered number
00093175



Registered office
Conker Cottage
High Street

Haversham

Milton Keynes

MK19 7DT




Bankers
Coutts & Co.
440 Strand

London

WC2R 0QS





 


THE NOTARIES SOCIETY
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:00093175



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
156,005
153,932

  
156,005
153,932

Current assets
  

Stocks
  
7,886
7,264

Debtors: amounts falling due within one year
 5 
48,878
16,338

Cash at bank and in hand
  
87,494
121,197

  
144,258
144,799

Creditors: amounts falling due within one year
 6 
(7,196)
(8,318)

Net current assets
  
 
 
137,062
 
 
136,481

Total assets less current liabilities
  
293,067
290,413

  

Net assets
  
293,067
290,413

Page 1

 


THE NOTARIES SOCIETY
  
(A Company Limited by Guarantee)
REGISTERED NUMBER:00093175


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Profit and loss account
  
293,067
290,413

  
293,067
290,413


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 by: 






S Gordon
Director

Date: 6 February 2024

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

Page 2

 


THE NOTARIES SOCIETY
 
(A Company Limited by Guarantee)
 


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

1.


General information

The company is a private company limited by guarantee without share capital registered in England and Wales and situated at its registered office, the address of which can be found on the Company Information page.
The presentation currency in the financial statements is GBP rounded to the nearest £1.

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:

Sale of goods

Revenue 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 revenue 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

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

Interest income

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

 
2.4

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 3

 


THE NOTARIES SOCIETY
 
(A Company Limited by Guarantee)
 


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

2.Accounting policies (continued)

 
2.5

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 first in, first out 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.

 
2.6

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

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.

 
2.8

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 Statement of Financial Position 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
Page 4

 


THE NOTARIES SOCIETY
 
(A Company Limited by Guarantee)
 


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

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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

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 assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or
Page 5

 


THE NOTARIES SOCIETY
 
(A Company Limited by Guarantee)
 


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

2.Accounting policies (continued)


2.8
Financial instruments (continued)

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.


3.


Employees

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


        2023
        2022
            No.
            No.







Directors
15
15


4.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 January 2023
1
153,931
153,932


Additions
-
4,887
4,887


Disposals
-
(6,205)
(6,205)


Revaluations
-
3,391
3,391



At 31 December 2023
1
156,004
156,005




The Listed investments are stated at market value. The cost of the Listed investments was £73,143 (2022 - £74,762). The gain on revaluation in the year as recognised through the profit and loss account was £3,391 (2022 - Loss £39,915). The valuation at 31 December 2023 was provided by the company's investment fund manager  Fiske Plc.
The subsidiary company is NotarySign Limited a company incorporated in England and Wales and is 100% owned by The Notaries Society.


5.


Debtors

2023
2022
Page 6

 


THE NOTARIES SOCIETY
 
(A Company Limited by Guarantee)
 


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

5.Debtors (continued)

£
£


Amounts owed by group undertakings
8,559
8,559

Prepayments and accrued income
40,319
7,779

48,878
16,338



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
416
77

Accruals and deferred income
6,780
8,241

7,196
8,318




7.


Company status

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

Page 7