Caseware UK (AP4) 2022.0.179 2022.0.179 2023-10-312023-10-31No description of principal activitytrue2321false2022-11-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. SC042480 2022-11-01 2023-10-31 SC042480 2021-11-01 2022-10-31 SC042480 2023-10-31 SC042480 2022-10-31 SC042480 c:CompanySecretary1 2022-11-01 2023-10-31 SC042480 c:Director1 2022-11-01 2023-10-31 SC042480 c:Director2 2022-11-01 2023-10-31 SC042480 c:RegisteredOffice 2022-11-01 2023-10-31 SC042480 d:Buildings 2022-11-01 2023-10-31 SC042480 d:Buildings 2023-10-31 SC042480 d:Buildings 2022-10-31 SC042480 d:Buildings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC042480 d:Buildings d:LongLeaseholdAssets 2022-11-01 2023-10-31 SC042480 d:Buildings d:LongLeaseholdAssets 2023-10-31 SC042480 d:Buildings d:LongLeaseholdAssets 2022-10-31 SC042480 d:MotorVehicles 2022-11-01 2023-10-31 SC042480 d:MotorVehicles 2023-10-31 SC042480 d:MotorVehicles 2022-10-31 SC042480 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC042480 d:FurnitureFittings 2022-11-01 2023-10-31 SC042480 d:FurnitureFittings 2023-10-31 SC042480 d:FurnitureFittings 2022-10-31 SC042480 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC042480 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 SC042480 d:Goodwill 2022-11-01 2023-10-31 SC042480 d:Goodwill 2023-10-31 SC042480 d:Goodwill 2022-10-31 SC042480 d:CurrentFinancialInstruments 2023-10-31 SC042480 d:CurrentFinancialInstruments 2022-10-31 SC042480 d:Non-currentFinancialInstruments 2023-10-31 SC042480 d:Non-currentFinancialInstruments 2022-10-31 SC042480 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 SC042480 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 SC042480 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 SC042480 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 SC042480 d:ShareCapital 2023-10-31 SC042480 d:ShareCapital 2022-10-31 SC042480 d:RetainedEarningsAccumulatedLosses 2023-10-31 SC042480 d:RetainedEarningsAccumulatedLosses 2022-10-31 SC042480 c:OrdinaryShareClass1 2022-11-01 2023-10-31 SC042480 c:OrdinaryShareClass1 2023-10-31 SC042480 c:OrdinaryShareClass1 2022-10-31 SC042480 c:OrdinaryShareClass2 2022-11-01 2023-10-31 SC042480 c:OrdinaryShareClass2 2023-10-31 SC042480 c:OrdinaryShareClass2 2022-10-31 SC042480 c:OrdinaryShareClass3 2022-11-01 2023-10-31 SC042480 c:OrdinaryShareClass3 2023-10-31 SC042480 c:OrdinaryShareClass3 2022-10-31 SC042480 c:OrdinaryShareClass4 2022-11-01 2023-10-31 SC042480 c:OrdinaryShareClass4 2023-10-31 SC042480 c:OrdinaryShareClass4 2022-10-31 SC042480 c:FRS102 2022-11-01 2023-10-31 SC042480 c:AuditExempt-NoAccountantsReport 2022-11-01 2023-10-31 SC042480 c:FullAccounts 2022-11-01 2023-10-31 SC042480 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC042480 d:WithinOneYear 2023-10-31 SC042480 d:WithinOneYear 2022-10-31 SC042480 d:BetweenOneFiveYears 2023-10-31 SC042480 d:BetweenOneFiveYears 2022-10-31 SC042480 d:MoreThanFiveYears 2023-10-31 SC042480 d:MoreThanFiveYears 2022-10-31 SC042480 d:Goodwill d:OwnedIntangibleAssets 2022-11-01 2023-10-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC042480










CROSBIE MATTHEW FUNERAL DIRECTORS LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 

COMPANY INFORMATION


Directors
Mr G Milne 
Mrs S Milne 




Company secretary
Mr P Aitken



Registered number
SC042480



Registered office
199 Nicol Street

Kirkcaldy

Fife

KY1 1PF




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
REGISTERED NUMBER:SC042480

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
£
£

Fixed assets
  

Intangible assets
 4 
49,775
67,875

Tangible assets
 5 
1,586,243
1,665,200

  
1,636,018
1,733,075

Current assets
  

Stocks
  
123,512
78,461

Debtors: amounts falling due within one year
 6 
263,765
178,622

Cash at bank and in hand
  
456,336
488,151

  
843,613
745,234

Creditors: amounts falling due within one year
 7 
(426,843)
(405,636)

Net current assets
  
 
 
416,770
 
 
339,598

Total assets less current liabilities
  
2,052,788
2,072,673

Creditors: amounts falling due after more than one year
 8 
-
(120,742)

Provisions for liabilities
  

Deferred tax
  
(191,387)
(204,360)

  
 
 
(191,387)
 
 
(204,360)

Net assets
  
1,861,401
1,747,571


Capital and reserves
  

Called up share capital 
 9 
100,000
100,000

Profit and loss account
  
1,761,401
1,647,571

  
1,861,401
1,747,571


Page 1

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
REGISTERED NUMBER:SC042480

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 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 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 on 29 February 2024.




Mrs S Milne
Director

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

Page 2

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

The Company is limited by shares and incorporated in Scotland; Registration Number SC042480. The registered office address is 199 Nicol Street, Kirkcaldy, Fife, KY1 1PF.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

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

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.

 
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.

Page 3

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 

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

2.Accounting policies (continued)

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
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 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.

Page 4

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 

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

2.Accounting policies (continued)

 
2.7

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.


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.

 The estimated useful lives range as follows:

Goodwill
-
10
years

 
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, using the straight line and reducing balance method.

Depreciation is provided on the following basis:

Heritable property
-
2% Straight line
Leasehold property
-
5% Straight line
Motor vehicles
-
10% - 12% Straight line & 25% Reducing balance
Fixtures and fittings
-
20% Reducing balance & 33% 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.

Page 5

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 

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

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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 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.

 
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.


Employees

The average monthly number of employees, including directors, during the year was 21 (2022 - 23).

Page 6

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 November 2022
181,000



At 31 October 2023

181,000



Amortisation


At 1 November 2022
113,125


Charge for the year on owned assets
18,100



At 31 October 2023

131,225



Net book value



At 31 October 2023
49,775



At 31 October 2022
67,875



Page 7

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Tangible fixed assets





Heritable property
Leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 November 2022
814,427
871,017
834,880
367,859
2,888,183


Additions
-
17,632
61,930
37,979
117,541


Disposals
-
-
(55,955)
-
(55,955)



At 31 October 2023

814,427
888,649
840,855
405,838
2,949,769



Depreciation


At 1 November 2022
205,526
383,217
320,485
313,755
1,222,983


Charge for the year on owned assets
14,668
44,028
106,334
13,645
178,675


Disposals
-
-
(38,132)
-
(38,132)



At 31 October 2023

220,194
427,245
388,687
327,400
1,363,526



Net book value



At 31 October 2023
594,233
461,404
452,168
78,438
1,586,243



At 31 October 2022
608,901
487,800
514,395
54,104
1,665,200


6.


Debtors

2023
2022
£
£


Trade debtors
116,669
135,426

Prepayments and accrued income
147,096
43,196

263,765
178,622


Page 8

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
117,588
223,769

Other taxation and social security
91,504
70,485

Obligations under finance lease and hire purchase contracts
120,742
46,508

Other creditors
28,563
333

Accruals and deferred income
68,446
64,541

426,843
405,636


Secured loans
Net obligations under hire purchase contracts are secured over the relevant assets.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
120,742

-
120,742


Secured loans
Net obligations under hire purchase contracts are secured over the relevant assets.


9.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



99,515 (2022 - 99,515) Ordinary shares of £1.00 each
99,515
99,515
100 (2022 - 100) Ordinary A shares of £1.00 each
100
100
100 (2022 - 100) Ordinary B shares of £1.00 each
100
100
285 (2022 - 285) Ordinary C shares of £1.00 each
285
285

100,000

100,000


Page 9

 
CROSBIE MATTHEW FUNERAL DIRECTORS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Commitments under operating leases

At 31 October 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
46,000
46,000

Later than 1 year and not later than 5 years
188,700
187,500

Later than 5 years
99,050
146,250

333,750
379,750


Page 10