Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-03-01falseNo description of principal activity22truetrue 02885562 2022-03-01 2023-03-31 02885562 2021-03-01 2022-02-28 02885562 2023-03-31 02885562 2022-02-28 02885562 c:CompanySecretary1 2022-03-01 2023-03-31 02885562 c:Director1 2022-03-01 2023-03-31 02885562 c:Director2 2022-03-01 2023-03-31 02885562 c:RegisteredOffice 2022-03-01 2023-03-31 02885562 d:OfficeEquipment 2022-03-01 2023-03-31 02885562 d:OfficeEquipment 2023-03-31 02885562 d:OfficeEquipment 2022-02-28 02885562 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 02885562 d:ComputerEquipment 2022-03-01 2023-03-31 02885562 d:ComputerEquipment 2023-03-31 02885562 d:ComputerEquipment 2022-02-28 02885562 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 02885562 d:OwnedOrFreeholdAssets 2022-03-01 2023-03-31 02885562 d:CurrentFinancialInstruments 2023-03-31 02885562 d:CurrentFinancialInstruments 2022-02-28 02885562 d:Non-currentFinancialInstruments 2023-03-31 02885562 d:Non-currentFinancialInstruments 2022-02-28 02885562 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 02885562 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 02885562 d:RetainedEarningsAccumulatedLosses 2023-03-31 02885562 d:RetainedEarningsAccumulatedLosses 2022-02-28 02885562 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 02885562 d:AcceleratedTaxDepreciationDeferredTax 2022-02-28 02885562 c:FRS102 2022-03-01 2023-03-31 02885562 c:AuditExempt-NoAccountantsReport 2022-03-01 2023-03-31 02885562 c:FullAccounts 2022-03-01 2023-03-31 02885562 c:CompanyLimitedByGuarantee 2022-03-01 2023-03-31 02885562 6 2022-03-01 2023-03-31 iso4217:GBP xbrli:pure
Registered number: 02885562










INCIDENTAL COLMAN LIMITED
(A company limited by guarantee)
UNAUDITED
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023




















 
INCIDENTAL COLMAN LIMITED
 
(A company limited by guarantee)
 
 
Company Information


Directors
AR Gavin 
DJ Colman 




Company secretary
ASD Gavin



Registered number
02885562



Registered office
45 Clabon Mews
London

SW1X 0EQ





 
INCIDENTAL COLMAN LIMITED
 
(A company limited by guarantee)
Registered number: 02885562

Balance sheet
As at 31 March 2023

31 March
28 February
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,792
1,501

  
1,792
1,501

Current assets
  

Debtors: amounts falling due after more than one year
 5 
65,000
-

Debtors: amounts falling due within one year
 5 
125,900
30,245

Current asset investments
 6 
1,422,077
1,086,826

Cash at bank and in hand
  
664,176
485,798

  
2,277,153
1,602,869

Creditors: amounts falling due within one year
 7 
(1,580,257)
(1,147,400)

Net current assets
  
 
 
696,896
 
 
455,469

Total assets less current liabilities
  
698,688
456,970

Provisions for liabilities
  

Deferred tax
 8 
(3,170)
(41,508)

  
 
 
(3,170)
 
 
(41,508)

Net assets
  
695,518
415,462


Capital and reserves
  

Profit and loss account
  
695,518
415,462

  
695,518
415,462


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 period 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.
 
Page 1

 
INCIDENTAL COLMAN LIMITED
 
(A company limited by guarantee)
Registered number: 02885562
    
Balance sheet (continued)
As at 31 March 2023

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 comprehensive income 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 26 February 2024.



AR Gavin
Director

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

Page 2

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Period Ended 31 March 2023

1.


General information

Incidental Colman Limited is a private company limited by guarantee, incorporated in the United Kingdom and registered in England and Wales, registration number 02885562. The address of the registered office is 45 Clabon Mews, London, SW1X 0EQ.
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liabile to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Turnover

Turnover comprises the share of profits arising on investments in theatrical productions, royalties receivable and other consultancy fees invoiced during the period, exclusive of Value Added Tax.

Page 3

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Period Ended 31 March 2023

2.Accounting policies (continued)

 
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 period in which they are incurred.

 
2.6

Current and deferred taxation

The tax expense for the period 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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line
Computer equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted
Page 4

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Period Ended 31 March 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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

Current asset investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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

 
2.9

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.

 
2.10

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. 

 
2.11

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.

 
2.12

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.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.


3.


Employees

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

Page 5

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Period Ended 31 March 2023

4.


Tangible fixed assets







Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 March 2022
758
974
1,732


Additions
583
286
869



At 31 March 2023

1,341
1,260
2,601



Depreciation


At 1 March 2022
150
81
231


Charge for the period
278
300
578



At 31 March 2023

428
381
809



Net book value



At 31 March 2023
913
879
1,792



At 28 February 2022
608
893
1,501

Page 6

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Period Ended 31 March 2023

5.


Debtors

31 March
28 February
2023
2022
£
£

Due after more than one year

Loans receivable
65,000
-

65,000
-


31 March
28 February
2023
2022
£
£

Due within one year

Trade debtors
47,667
-

Loans receivable
77,809
-

Prepayments and accrued income
424
30,245

125,900
30,245



6.


Current asset investments

31 March
28 February
2023
2022
£
£

Listed investments
599,646
585,770

Unlisted investments
822,431
501,056

1,422,077
1,086,826


Page 7

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Notes to the financial statements
For the Period Ended 31 March 2023

7.


Creditors: Amounts falling due within one year

31 March
28 February
2023
2022
£
£

Trade creditors
756,137
403,134

Corporation tax
89,402
18,600

Other taxation and social security
3,124
2,731

Other creditors
725,011
720,960

Accruals and deferred income
6,583
1,975

1,580,257
1,147,400



8.


Deferred taxation






2023


£






At beginning of period
(41,508)


Credited to profit or loss
38,338



At end of period
(3,170)

The provision for deferred taxation is made up as follows:

31 March
28 February
2023
2022
£
£


Gain on investment in listed shares
(3,170)
(41,508)

(3,170)
(41,508)


9.


Related party transactions

During the period the directors maintained director's loan accounts for the purpose of advancing funds for the principal activity of the company. At the period end the company owed the directors £719,115 (2022: £712,230).
The loans are interest free and repayable on demand.

 
Page 8

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Schedule to the detailed accounts
For the Period Ended 31 March 2023

10.


Investment schedule

Page 9

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Schedule to the detailed accounts
For the Period Ended 31 March 2023
ole776a.png
Page 10

 
INCIDENTAL COLMAN LIMITED

(A company limited by guarantee)
 
 
 
Schedule to the detailed accounts
For the Period Ended 31 March 2023
ole08c6.png
Page 11