Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11217020 2023-04-01 2024-03-31 11217020 2022-04-01 2023-03-31 11217020 2024-03-31 11217020 2023-03-31 11217020 2022-04-01 11217020 c:Director1 2023-04-01 2024-03-31 11217020 d:OfficeEquipment 2023-04-01 2024-03-31 11217020 d:OfficeEquipment 2024-03-31 11217020 d:OfficeEquipment 2023-03-31 11217020 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11217020 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 11217020 d:OtherPropertyPlantEquipment 2024-03-31 11217020 d:OtherPropertyPlantEquipment 2023-03-31 11217020 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11217020 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11217020 d:CurrentFinancialInstruments 2024-03-31 11217020 d:CurrentFinancialInstruments 2023-03-31 11217020 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11217020 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11217020 d:ShareCapital 2023-04-01 2024-03-31 11217020 d:ShareCapital 2024-03-31 11217020 d:ShareCapital 2022-04-01 2023-03-31 11217020 d:ShareCapital 2023-03-31 11217020 d:ShareCapital 2022-04-01 11217020 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 11217020 d:RetainedEarningsAccumulatedLosses 2024-03-31 11217020 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 11217020 d:RetainedEarningsAccumulatedLosses 2023-03-31 11217020 d:RetainedEarningsAccumulatedLosses 2022-04-01 11217020 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 11217020 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 11217020 c:FRS102 2023-04-01 2024-03-31 11217020 c:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11217020 c:FullAccounts 2023-04-01 2024-03-31 11217020 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11217020 2 2023-04-01 2024-03-31 11217020 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11217020









FIVEFOLD LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
FIVEFOLD LTD
 
 
  
ACCOUNTANT'S REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF FIVEFOLD LTD
FOR THE YEAR ENDED 31 MARCH 2024

You consider that the Company is exempt from an audit for the year ended 31 March 2024. You have acknowledged, on the Balance sheet, your responsibilities for ensuring that the Company keeps adequate accounting records which comply with section 386 of the Companies Act 2006, and for preparing the financial statements which give a true and fair view of the state of affairs of the Company and of its profit or loss for the financial year.

In accordance with your instructions, I have prepared the financial statements on pages 11 from the accounting records of the Company and on the basis of information and explanations you have given to me.

I have not carried out an audit or any other review, and consequently I do not express any opinion on these financial statements.

  



Bosworth Zakis Limited (Company reg.no. 05352971)
 
Accountants
  
57 Hanbury Road
Dorridge
Solihull
West Midlands
B93 8DN
18 April 2024
Page 1

 
FIVEFOLD LTD
REGISTERED NUMBER: 11217020

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,166
2,702

  
2,166
2,702

Current assets
  

Debtors: amounts falling due within one year
 5 
4,200
5,523

Cash at bank and in hand
 6 
10,056
14,038

  
14,256
19,561

Creditors: amounts falling due within one year
 7 
(7,015)
(13,785)

Net current assets
  
 
 
7,241
 
 
5,776

Total assets less current liabilities
  
9,407
8,478

  

Net assets
  
9,407
8,478


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
 9 
9,405
8,476

  
9,407
8,478


Page 2

 
FIVEFOLD LTD
REGISTERED NUMBER: 11217020
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 profit and loss account 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 18 April 2024.




................................................
Helen Wardle
Director

The notes on pages 6 to 11 form part of these financial statements.

Page 3

 
FIVEFOLD LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2023
2
8,476
8,478


Comprehensive income for the year

Profit for the year

-
13,929
13,929


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
13,929
13,929


Contributions by and distributions to owners

Dividends: Equity capital
-
(13,000)
(13,000)


Total transactions with owners
-
(13,000)
(13,000)


At 31 March 2024
2
9,405
9,407


The notes on pages 6 to 11 form part of these financial statements.

Page 4

 
FIVEFOLD LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 April 2022
2
4,577
4,579


Comprehensive income for the year

Profit for the year

-
14,899
14,899


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
14,899
14,899


Contributions by and distributions to owners

Dividends: Equity capital
-
(11,000)
(11,000)


Total transactions with owners
-
(11,000)
(11,000)


At 31 March 2023
2
8,476
8,478


The notes on pages 6 to 11 form part of these financial statements.

Page 5

 
FIVEFOLD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Fivefold Ltd is a company incorporated as private limited by shares. The registered office is situated in England and Wales and the address is 71-75 Shelton Street, Covent garden, London WC2H 9JQ. The principal activity of the business is that of P R and marketing agency.

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 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

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.

Page 6

 
FIVEFOLD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Taxation

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.

 
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:

Office equipment
-
15%
Other fixed assets
-
25%

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 7

 
FIVEFOLD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

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

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.

Page 8

 
FIVEFOLD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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

2024
2023
£
£

Wages and salaries
12,713
9,096

Cost of defined contribution scheme
2,400
2,400

15,113
11,496


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







1
1

Page 9

 
FIVEFOLD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Office equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 April 2023
3,200
2,000
5,200



At 31 March 2024

3,200
2,000
5,200



Depreciation


At 1 April 2023
1,292
1,206
2,498


Charge for the year on owned assets
286
250
536



At 31 March 2024

1,578
1,456
3,034



Net book value



At 31 March 2024
1,622
544
2,166



At 31 March 2023
1,908
794
2,702


5.


Debtors

2024
2023
£
£


Trade debtors
3,500
5,523

Other debtors
700
-

4,200
5,523



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
10,056
14,038

10,056
14,038


Page 10

 
FIVEFOLD LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,589
8,096

Corporation tax
3,426
3,604

Other creditors
-
2,085

7,015
13,785



8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
10,056
14,038




Financial assets measured at fair value through profit or loss comprise of bank accounts.


9.


Reserves

Profit and loss account

The opening balance on the profit and loss account was £8,476. To this was added £13,929 profit, after tax, for the 2024 year giving a total available of £22,405. Interim dividends were paid in the year of £13,000 leaving a balance of  £9,405 avaialble for distribution.


10.


Pension commitments

The Company operates a defined contributions 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 £2,400.00 for the current year (2023 - £2,400.00) . 

 
Page 11