Caseware UK (AP4) 2023.0.135 2023.0.135 true2022-07-01falseNo description of principal activity2622false 05492451 2022-07-01 2023-06-30 05492451 2021-07-01 2022-06-30 05492451 2023-06-30 05492451 2022-06-30 05492451 c:Director4 2022-07-01 2023-06-30 05492451 d:PlantMachinery 2022-07-01 2023-06-30 05492451 d:MotorVehicles 2022-07-01 2023-06-30 05492451 d:MotorVehicles 2023-06-30 05492451 d:MotorVehicles 2022-06-30 05492451 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05492451 d:FurnitureFittings 2022-07-01 2023-06-30 05492451 d:FurnitureFittings 2023-06-30 05492451 d:FurnitureFittings 2022-06-30 05492451 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05492451 d:OfficeEquipment 2022-07-01 2023-06-30 05492451 d:OfficeEquipment 2023-06-30 05492451 d:OfficeEquipment 2022-06-30 05492451 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05492451 d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05492451 d:CurrentFinancialInstruments 2023-06-30 05492451 d:CurrentFinancialInstruments 2022-06-30 05492451 d:Non-currentFinancialInstruments 2023-06-30 05492451 d:Non-currentFinancialInstruments 2022-06-30 05492451 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05492451 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05492451 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 05492451 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 05492451 d:ShareCapital 2023-06-30 05492451 d:ShareCapital 2022-06-30 05492451 d:SharePremium 2023-06-30 05492451 d:SharePremium 2022-06-30 05492451 d:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 05492451 d:RetainedEarningsAccumulatedLosses 2023-06-30 05492451 d:RetainedEarningsAccumulatedLosses 2021-07-01 2022-06-30 05492451 d:RetainedEarningsAccumulatedLosses 2022-06-30 05492451 d:RetainedEarningsAccumulatedLosses 2021-07-01 05492451 c:FRS102 2022-07-01 2023-06-30 05492451 c:Audited 2022-07-01 2023-06-30 05492451 c:FullAccounts 2022-07-01 2023-06-30 05492451 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05492451 c:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 05492451 2 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 05492451










Project Leaders Ltd










Annual report and financial statements

Information for filing with the registrar

For the year ended 30 June 2023

 
Project Leaders Ltd
 

Statement of income and retained earnings
For the year ended 30 June 2023

2023
2022
Note
£
£

  

Turnover
  
4,042,850
3,346,740

Cost of sales
  
(2,904,244)
(2,039,745)

Gross profit
  
1,138,606
1,306,995

Administrative expenses
  
(713,227)
(598,804)

Operating profit
  
425,379
708,191

Interest receivable and similar income
  
1,135
-

Interest payable and similar expenses
  
(4,890)
(3,026)

Profit before tax
  
421,624
705,165

Tax on profit
  
(80,738)
(128,214)

Profit after tax
  
340,886
576,951

  

  

Retained earnings at the beginning of the year
  
481,214
281,628

  
481,214
281,628

Profit for the year
  
340,886
576,951

Dividends declared and paid
  
(703,748)
(377,365)

Retained earnings at the end of the year
  
118,352
481,214
The notes on pages 3 to 8 form part of these financial statements.

Page 1

 
Project Leaders Ltd
Registered number: 05492451

Balance sheet
As at 30 June 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
52,107
299,545

  
52,107
299,545

Current assets
  

Debtors: amounts falling due within one year
 5 
451,987
348,112

Cash at bank and in hand
 6 
250,531
479,117

  
702,518
827,229

Creditors: amounts falling due within one year
 7 
(603,285)
(549,032)

Net current assets
  
 
 
99,233
 
 
278,197

Total assets less current liabilities
  
151,340
577,742

Creditors: amounts falling due after more than one year
 8 
-
(44,430)

Provisions for liabilities
  

Deferred tax
  
-
(21,000)

  
 
 
-
 
 
(21,000)

Net assets
  
151,340
512,312


Capital and reserves
  

Called up share capital 
  
25,150
24,522

Share premium account
  
7,838
6,576

Profit and loss account
  
118,352
481,214

  
151,340
512,312


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 financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Clive Wheatley
Director
Date: 16 December 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
Project Leaders Ltd
 

 
Notes to the financial statements
For the year ended 30 June 2023

1.


General information

The Company is a private limited company incorporated in England and Wales. The registered office is
137b Minnis Road, Birchington, England, CT7 9NS. The Company's registered number is 05492451.
The principal activities of the company are that of management consultancy activities other than financial management.

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

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 3

 
Project Leaders Ltd
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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
-
20% straight line
Fixtures and fittings
-
25% straight line
Office equipment
-
15% to 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.

 
2.4

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.

 
2.5

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.

  
2.6

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares. 

 
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

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.

 
2.9

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.

Page 4

 
Project Leaders Ltd
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

Interest income

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

 
2.13

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

Page 5

 
Project Leaders Ltd
 

 
Notes to the financial statements
For the year ended 30 June 2023

2.Accounting policies (continued)

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 26 (2022 - 22).

Page 6

 
Project Leaders Ltd
 

 
Notes to the financial statements
For the year ended 30 June 2023

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2022
350,409
11,148
71,677
433,234


Additions
17,271
-
6,854
24,125


Disposals
(335,130)
-
(27,501)
(362,631)



At 30 June 2023

32,550
11,148
51,030
94,728



Depreciation


At 1 July 2022
81,634
7,961
44,094
133,689


Charge for the year on owned assets
56,204
910
9,415
66,529


Disposals
(130,375)
-
(27,222)
(157,597)



At 30 June 2023

7,463
8,871
26,287
42,621



Net book value



At 30 June 2023
25,087
2,277
24,743
52,107



At 30 June 2022
268,775
3,187
27,583
299,545

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows: Motor Vehicles £Nil (2022 : £60,610).


5.


Debtors

2023
2022
£
£


Trade debtors
152,172
226,263

Other debtors
3,655
-

Prepayments and accrued income
296,160
121,849

451,987
348,112



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
250,531
479,117

250,531
479,117


Page 7

 
Project Leaders Ltd
 

 
Notes to the financial statements
For the year ended 30 June 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
95,468
23,324

Corporation tax
101,295
129,500

Other taxation and social security
259,745
190,649

Amounts due under finance leases and hire purchase contracts
-
16,871

Other creditors
91,588
107,633

Accruals and deferred income
55,189
81,055

603,285
549,032



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Amounts due under finance leases and hire purchase contracts
-
44,430

-
44,430



9.


Related party transactions

All related party transactions undertaken by the company during the year was done so under normal market conditions.


10.


Auditor's information

The auditor's report on the financial statements for the year ended 30 June 2023 was unqualified.

The audit report was signed on 16 December 2023 by Andrew Griggs BA FCA CF (Senior statutory auditor) on behalf of Kreston Reeves LLP.


Page 8