Caseware UK (AP4) 2023.0.135 2023.0.135 true2022-09-01false12No description of principal activity14trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05537384 2022-09-01 2023-08-31 05537384 2021-09-01 2022-08-31 05537384 2023-08-31 05537384 2022-08-31 05537384 c:Director1 2022-09-01 2023-08-31 05537384 d:FurnitureFittings 2022-09-01 2023-08-31 05537384 d:FurnitureFittings 2023-08-31 05537384 d:FurnitureFittings 2022-08-31 05537384 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05537384 d:OfficeEquipment 2022-09-01 2023-08-31 05537384 d:OfficeEquipment 2023-08-31 05537384 d:OfficeEquipment 2022-08-31 05537384 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05537384 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 05537384 d:CurrentFinancialInstruments 2023-08-31 05537384 d:CurrentFinancialInstruments 2022-08-31 05537384 d:Non-currentFinancialInstruments 2023-08-31 05537384 d:Non-currentFinancialInstruments 2022-08-31 05537384 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 05537384 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 05537384 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 05537384 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 05537384 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 05537384 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 05537384 d:ShareCapital 2023-08-31 05537384 d:ShareCapital 2022-08-31 05537384 d:CapitalRedemptionReserve 2023-08-31 05537384 d:CapitalRedemptionReserve 2022-08-31 05537384 d:RetainedEarningsAccumulatedLosses 2023-08-31 05537384 d:RetainedEarningsAccumulatedLosses 2022-08-31 05537384 c:FRS102 2022-09-01 2023-08-31 05537384 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 05537384 c:FullAccounts 2022-09-01 2023-08-31 05537384 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 05537384 2 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 05537384










COMPLETE MORTGAGES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

For the Year Ended 31 August 2023

 
COMPLETE MORTGAGES LIMITED
Registered number: 05537384

STATEMENT OF FINANCIAL POSITION
As at 31 August 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
15,077
21,809

  
15,077
21,809

Current assets
  

Debtors: amounts falling due within one year
 5 
320,232
287,902

Cash at bank and in hand
  
244,786
318,421

  
565,018
606,323

Creditors: amounts falling due within one year
 6 
(102,152)
(116,148)

Net current assets
  
 
 
462,866
 
 
490,175

Total assets less current liabilities
  
477,943
511,984

Creditors: amounts falling due after more than one year
 7 
(33,498)
(83,177)

Provisions for liabilities
  

Deferred tax
  
(3,530)
(5,133)

  
 
 
(3,530)
 
 
(5,133)

Net assets
  
440,915
423,674


Capital and reserves
  

Called up share capital 
  
61
61

Capital redemption reserve
  
39
39

Profit and loss account
  
440,815
423,574

  
440,915
423,674


Page 1

 
COMPLETE MORTGAGES LIMITED
Registered number: 05537384
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
As at 31 August 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 by: 






M P Finnegan
Director

Date: 1 March 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
COMPLETE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2023

1.


General information

Complete Mortgages Limited, 05537384, is a private company limited by shares. It is incorporated in England & Wales. The registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

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

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

 
COMPLETE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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 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.

 
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.

Page 4

 
COMPLETE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. 

Depreciation is provided on the following basis:

Fixtures & fittings
-
25% reducing balance
Office equipment
-
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 the Statement of Income and Retained Earnings.

 
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. 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.

 
2.11

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

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 reporting 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 Statement of Financial Position.

Page 5

 
COMPLETE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2023

2.Accounting policies (continued)

 
2.13

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.

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.

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.

 
2.14

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 14 (2022 - 12).

Page 6

 
COMPLETE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2023

4.


Tangible fixed assets





Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
65,393
61,398
126,791


Additions
744
-
744



At 31 August 2023

66,137
61,398
127,535



Depreciation


At 1 September 2022
50,412
54,570
104,982


Charge for the year on owned assets
3,931
3,545
7,476



At 31 August 2023

54,343
58,115
112,458



Net book value



At 31 August 2023
11,794
3,283
15,077



At 31 August 2022
14,981
6,828
21,809

Page 7

 
COMPLETE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2023

5.


Debtors

2023
2022
£
£


Trade debtors
24,654
27,005

Amounts owed by associated undertakings
259,624
259,624

Other debtors
34,757
-

Prepayments and accrued income
1,197
1,273

320,232
287,902



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
49,830
51,127

Trade creditors
5,279
10,059

Amounts owed to other participating interests
415
415

Corporation tax
40,515
48,844

Other taxation and social security
679
-

Other creditors
677
1,039

Accruals and deferred income
4,757
4,664

102,152
116,148



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
33,498
83,177


Page 8

 
COMPLETE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 August 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
49,830
51,127


Amounts falling due 2-5 years

Bank loans
33,500
83,177


83,330
134,304


 
Page 9