Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02723317 2022-07-01 2023-06-30 02723317 2021-07-01 2022-06-30 02723317 2023-06-30 02723317 2022-06-30 02723317 c:Director1 2022-07-01 2023-06-30 02723317 d:FurnitureFittings 2022-07-01 2023-06-30 02723317 d:FurnitureFittings 2023-06-30 02723317 d:FurnitureFittings 2022-06-30 02723317 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 02723317 d:OtherPropertyPlantEquipment 2022-07-01 2023-06-30 02723317 d:CurrentFinancialInstruments 2023-06-30 02723317 d:CurrentFinancialInstruments 2022-06-30 02723317 d:Non-currentFinancialInstruments 2023-06-30 02723317 d:Non-currentFinancialInstruments 2022-06-30 02723317 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02723317 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 02723317 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02723317 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 02723317 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-06-30 02723317 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-06-30 02723317 d:ShareCapital 2023-06-30 02723317 d:ShareCapital 2022-06-30 02723317 d:RetainedEarningsAccumulatedLosses 2023-06-30 02723317 d:RetainedEarningsAccumulatedLosses 2022-06-30 02723317 c:FRS102 2022-07-01 2023-06-30 02723317 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 02723317 c:FullAccounts 2022-07-01 2023-06-30 02723317 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 02723317 2 2022-07-01 2023-06-30 02723317 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 02723317










HM PROJECT ASSURANCE & AUDIT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
HM PROJECT ASSURANCE & AUDIT LIMITED
REGISTERED NUMBER: 02723317

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,813
3,447

  
6,813
3,447

Current assets
  

Debtors: amounts falling due within one year
 5 
62,599
82,219

Cash at bank and in hand
 6 
3,001
7,548

  
65,600
89,767

Creditors: amounts falling due within one year
 7 
(43,090)
(52,089)

Net current assets
  
 
 
22,510
 
 
37,678

Total assets less current liabilities
  
29,323
41,125

Creditors: amounts falling due after more than one year
 8 
(12,965)
(18,952)

Provisions for liabilities
  

Deferred tax
  
(1,295)
(635)

  
 
 
(1,295)
 
 
(635)

Net assets
  
15,063
21,538


Capital and reserves
  

Called up share capital 
  
10
10

Profit and loss account
  
15,053
21,528

  
15,063
21,538


Page 1

 
HM PROJECT ASSURANCE & AUDIT LIMITED
REGISTERED NUMBER: 02723317

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2023

The director considers 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 director acknowledges his 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 28 February 2024.




H.E. Martin
Director

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

Page 2

 
HM PROJECT ASSURANCE & AUDIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

The company is a limited liability company, limited by shares and was incorporated in Wales. The registered office address is :
Kingsridge House
601 London Road
Westcliff on sea
Essex. SS0 9PE
The company registered number is 02723317.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 
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

Interest income

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

 
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.

Page 3

 
HM PROJECT ASSURANCE & AUDIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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 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.

 
2.7

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures, fittings and equipment
-
20% reducing balance
Studio
-
20% 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.

 
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.

Page 4

 
HM PROJECT ASSURANCE & AUDIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
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.

 
2.11

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.

 
2.12

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.

 
2.13

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 5

 
HM PROJECT ASSURANCE & AUDIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

3.


Employees

2023
2022
£
£

Wages and salaries
13,466
19,073

Social security costs
1,222
2,713

14,688
21,786


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


4.


Tangible fixed assets





Fixtures, fittings and equipment

£



Cost or valuation


At 1 July 2022
75,431


Additions
5,175



At 30 June 2023

80,606



Depreciation


At 1 July 2022
71,984


Charge for the year on owned assets
1,809



At 30 June 2023

73,793



Net book value



At 30 June 2023
6,813



At 30 June 2022
3,447


5.


Debtors

2023
2022
£
£


Trade debtors
62,599
81,719

Prepayments and accrued income
-
500

62,599
82,219


Page 6

 
HM PROJECT ASSURANCE & AUDIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,001
7,548

3,001
7,548



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,987
5,834

Trade creditors
3,323
3,091

Corporation tax
11,869
32,722

Other taxation and social security
8,977
10,329

Other creditors
12,934
113

43,090
52,089



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
12,965
18,952

12,965
18,952


Page 7

 
HM PROJECT ASSURANCE & AUDIT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,987
5,834


5,987
5,834


Amounts falling due 2-5 years

Bank loans
12,965
18,952


12,965
18,952


18,952
24,786



10.


Transactions with directors

During the year the Director received advances totalling £23,683, these advances were fully repaid in the reporting period. The balance of advances at 30 June 2023 was £Nil.
Interest was charged at a rate of 2%.


Page 8