Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-30falsefalsetrue2022-07-0198The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05639930 2022-07-01 2023-06-30 05639930 2021-07-01 2022-06-30 05639930 2023-06-30 05639930 2022-06-30 05639930 c:Director1 2022-07-01 2023-06-30 05639930 d:FurnitureFittings 2022-07-01 2023-06-30 05639930 d:FurnitureFittings 2023-06-30 05639930 d:FurnitureFittings 2022-06-30 05639930 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 05639930 d:CurrentFinancialInstruments 2023-06-30 05639930 d:CurrentFinancialInstruments 2022-06-30 05639930 d:Non-currentFinancialInstruments 2023-06-30 05639930 d:Non-currentFinancialInstruments 2022-06-30 05639930 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05639930 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 05639930 d:UKTax 2022-07-01 2023-06-30 05639930 d:UKTax 2021-07-01 2022-06-30 05639930 d:ShareCapital 2023-06-30 05639930 d:ShareCapital 2022-06-30 05639930 d:RetainedEarningsAccumulatedLosses 2023-06-30 05639930 d:RetainedEarningsAccumulatedLosses 2022-06-30 05639930 c:OrdinaryShareClass1 2022-07-01 2023-06-30 05639930 c:OrdinaryShareClass1 2023-06-30 05639930 c:OrdinaryShareClass1 2022-06-30 05639930 c:FRS102 2022-07-01 2023-06-30 05639930 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 05639930 c:FullAccounts 2022-07-01 2023-06-30 05639930 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 05639930 2 2022-07-01 2023-06-30 05639930 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05639930 d:AcceleratedTaxDepreciationDeferredTax 2022-06-30 05639930 d:RetirementBenefitObligationsDeferredTax 2023-06-30 05639930 d:RetirementBenefitObligationsDeferredTax 2022-06-30 05639930 d:OtherDeferredTax 2023-06-30 05639930 d:OtherDeferredTax 2022-06-30 05639930 e:PoundSterling 2022-07-01 2023-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05639930









GERARD DANIELS UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
GERARD DANIELS UK LIMITED
REGISTERED NUMBER: 05639930

BALANCE SHEET
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 6 
32,449
45,783

Current assets
  

Debtors: amounts falling due after more than one year
 7 
18,408
-

Debtors: amounts falling due within one year
 7 
348,156
430,291

Cash at bank and in hand
  
1,241
25,341

  
367,805
455,632

Creditors: amounts falling due within one year
 8 
(778,762)
(636,056)

Net current liabilities
  
 
 
(410,957)
 
 
(180,424)

Deferred tax
 9 
(7,855)
(18,923)

Net liabilities
  
(386,363)
(153,564)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(386,463)
(153,664)

  
(386,363)
(153,564)


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: 





M. McAnearney
Director

Date: 28 March 2024

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 
GERARD DANIELS UK LIMITED
 

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

1.


General information

The company is a private company limited by shares, incorporated in England, United Kingdom. The registered number for the company is 05639930 and the address of the registered office is 24 Old Bond Street, London, W1S 4AP. The trading address is 307-308 High Holborn House, London, WC1U 7LL. This company is part of a group.

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.

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

Going concern

The accounts have been prepared on a going basis which is considered appropriate, on the basis of the continued support of the parent company. The directors have confirmed that this support will continue and believe that no adjustments relating to the company's ability to continue as going concern need to be made to these financial statements.

 
2.3

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.

Page 2

 
GERARD DANIELS UK LIMITED
 

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

2.Accounting policies (continued)

 
2.4

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:

Fixtures, fittings and equipment
-
4 or 5 year 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.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102.

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.

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.
Page 3

 
GERARD DANIELS UK LIMITED
 

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

2.Accounting policies (continued)


2.6
Financial instruments (continued)


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.

Derecognition of financial assets

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

 
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.

Page 4

 
GERARD DANIELS UK LIMITED
 

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

2.Accounting policies (continued)

 
2.8

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.9

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.

 
2.10

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.

Page 5

 
GERARD DANIELS UK LIMITED
 

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

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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 corporation 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.


Change in accounting estimate

There has been a change in the depreciation policy in the year from 20% reducing balance to 4/5 year straight line. The effect on the change in the current period is that depreciation has increased by £7,014. 







4.


Employees

The average monthly number of employees, including directors, during the year was 9 (2022 - 8).

Page 6

 
GERARD DANIELS UK LIMITED
 

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

5.


Taxation


2023
2022
£
£

Current tax


Current tax on profits for the year
-
-

Deferred tax


Origination and reversal of timing differences
(11,068)
72,209


Taxation on (loss)/profit on ordinary activities
(11,068)
72,209

Factors affecting tax charge for the year

The company has estimated losses of £674,835 (2022 - £456,152) available to carry forward against the future trading profits.



6.


Tangible fixed assets





Fixtures, fittings and equipment

£



Cost


At 1 July 2022
85,521


Additions
2,837


Disposals
(9,328)



At 30 June 2023

79,030



Depreciation


At 1 July 2022
39,738


Charge for the year on owned assets
16,171


Disposals
(9,328)



At 30 June 2023

46,581



Net book value



At 30 June 2023
32,449



At 30 June 2022
45,783

Page 7

 
GERARD DANIELS UK LIMITED
 

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

7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
18,408
-


2023
2022
£
£

Due within one year

Trade debtors
162,202
258,486

Amounts owed by group undertakings
72,747
66,798

Other debtors
27,275
21,960

Prepayments and accrued income
85,932
83,047

348,156
430,291



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
12,767
33,072

Amounts owed to group undertakings
554,313
309,677

Other taxation and social security
21,445
29,176

Other creditors
16,323
24,330

Accruals and deferred income
173,914
239,801

778,762
636,056


Page 8

 
GERARD DANIELS UK LIMITED
 

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

9.


Deferred taxation




2023


£






At beginning of year
(18,923)


Charged to profit or loss
11,068



At end of year
(7,855)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(7,705)
(10,949)

Pension liability
(150)
(332)

Holiday pay adjustment
-
(7,642)

(7,855)
(18,923)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.


Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,953 (2022 - £13,236). Contributions totalling £1,634 (2022 - £3,278) were payable to the fund at the balance sheet date.


12.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or
balances with other wholly owned members of the group.


13.


Controlling party

The directors consider the immediate parent company to be Gerard Daniels (International) Pty Ltd, a company registered in Australia. The ultimate controlling party is Gerard Daniels (Australia) Pty Ltd, as a trustee for the McAnearney and Smith families. 


Page 9