Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01truefalseNo description of principal activity2921trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02855403 2022-12-01 2023-11-30 02855403 2021-12-01 2022-11-30 02855403 2023-11-30 02855403 2022-11-30 02855403 2021-12-01 02855403 2 2022-12-01 2023-11-30 02855403 d:Director5 2022-12-01 2023-11-30 02855403 e:Buildings e:ShortLeaseholdAssets 2022-12-01 2023-11-30 02855403 e:Buildings e:ShortLeaseholdAssets 2023-11-30 02855403 e:Buildings e:ShortLeaseholdAssets 2022-11-30 02855403 e:FurnitureFittings 2022-12-01 2023-11-30 02855403 e:FurnitureFittings 2023-11-30 02855403 e:FurnitureFittings 2022-11-30 02855403 e:FurnitureFittings e:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02855403 e:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02855403 e:CurrentFinancialInstruments 2023-11-30 02855403 e:CurrentFinancialInstruments 2022-11-30 02855403 e:CurrentFinancialInstruments e:WithinOneYear 2023-11-30 02855403 e:CurrentFinancialInstruments e:WithinOneYear 2022-11-30 02855403 e:ShareCapital 2022-12-01 2023-11-30 02855403 e:ShareCapital 2023-11-30 02855403 e:ShareCapital 2021-12-01 2022-11-30 02855403 e:ShareCapital 2022-11-30 02855403 e:ShareCapital 2021-12-01 02855403 e:SharePremium 2022-12-01 2023-11-30 02855403 e:SharePremium 2023-11-30 02855403 e:SharePremium 2 2022-12-01 2023-11-30 02855403 e:SharePremium 2021-12-01 2022-11-30 02855403 e:SharePremium 2022-11-30 02855403 e:SharePremium 2021-12-01 02855403 e:CapitalRedemptionReserve 2022-12-01 2023-11-30 02855403 e:CapitalRedemptionReserve 2023-11-30 02855403 e:CapitalRedemptionReserve 2 2022-12-01 2023-11-30 02855403 e:CapitalRedemptionReserve 2021-12-01 2022-11-30 02855403 e:CapitalRedemptionReserve 2022-11-30 02855403 e:CapitalRedemptionReserve 2021-12-01 02855403 e:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 02855403 e:RetainedEarningsAccumulatedLosses 2023-11-30 02855403 e:RetainedEarningsAccumulatedLosses 2 2022-12-01 2023-11-30 02855403 e:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 02855403 e:RetainedEarningsAccumulatedLosses 2022-11-30 02855403 e:RetainedEarningsAccumulatedLosses 2021-12-01 02855403 d:FRS102 2022-12-01 2023-11-30 02855403 d:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 02855403 d:FullAccounts 2022-12-01 2023-11-30 02855403 d:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02855403 e:WithinOneYear 2023-11-30 02855403 e:WithinOneYear 2022-11-30 02855403 e:BetweenOneFiveYears 2023-11-30 02855403 e:BetweenOneFiveYears 2022-11-30 02855403 2 2022-12-01 2023-11-30 02855403 6 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 02855403










2LK DESIGN LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
2LK DESIGN LIMITED
REGISTERED NUMBER: 02855403

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
140,714
57,598

Investments
 5 
75
75

  
140,789
57,673

Current assets
  

Debtors: amounts falling due within one year
 6 
1,723,186
1,335,825

Cash at bank and in hand
  
3,017,080
4,948,853

  
4,740,266
6,284,678

Creditors: amounts falling due within one year
 7 
(2,982,147)
(2,115,131)

Net current assets
  
 
 
1,758,119
 
 
4,169,547

Total assets less current liabilities
  
1,898,908
4,227,220

Provisions for liabilities
  

Deferred tax
  
(33,652)
(7,935)

  
 
 
(33,652)
 
 
(7,935)

Net assets
  
1,865,256
4,219,285


Capital and reserves
  

Called up share capital 
  
1,220
1,218

Share premium account
 8 
15,542
15,542

Capital redemption reserve
 8 
31,795
31,795

Profit and loss account
  
1,816,699
4,170,730

  
1,865,256
4,219,285


Page 1

 
2LK DESIGN LIMITED
REGISTERED NUMBER: 02855403
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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 on 22 July 2024.




K Harris
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
2LK DESIGN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2022
1,218
15,542
31,795
4,170,730
4,219,285


Comprehensive income for the year

Profit for the year

-
-
-
1,512,626
1,512,626


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
1,512,626
1,512,626

Dividends: Equity capital
-
-
-
(166,657)
(166,657)

Shares issued during the year
2
-
-
-
2

Capital distribution
-
-
-
(3,700,000)
(3,700,000)


Total transactions with owners
2
-
-
(3,866,657)
(3,866,655)


At 30 November 2023
1,220
15,542
31,795
1,816,699
1,865,256


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
2LK DESIGN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2022


Called up share capital
Share premium account
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 December 2021
1,218
15,542
31,795
2,644,568
2,693,123


Comprehensive income for the year

Profit for the year

-
-
-
1,808,138
1,808,138


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
1,808,138
1,808,138

Dividends: Equity capital
-
-
-
(281,976)
(281,976)


Total transactions with owners
-
-
-
(281,976)
(281,976)


At 30 November 2022
1,218
15,542
31,795
4,170,730
4,219,285


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
2LK DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

2LK Design Limited (company number 02855403) is a private company limited by shares and incorporated in England and Wales. Its registered office is the Second Floor Cheyenne House, West Street, Farnham, Surrey, GU9 7EQ

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.

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'.

Page 5

 
2LK DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
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.

 
2.4

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.

Page 6

 
2LK DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.8

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.

 
2.9

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:

Short-term leasehold property
-
% over lease term
Fixtures and fittings
-
% over 2 to 5 years

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.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 7

 
2LK DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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 balance sheet 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 Balance sheet.

 
2.15

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
Page 8

 
2LK DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

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.

 
2.16

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 29 (2022 - 21).

Page 9

 
2LK DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 December 2022
33,061
197,604
230,665


Additions
7,503
125,503
133,006


Disposals
(33,061)
(37,027)
(70,088)



At 30 November 2023

7,503
286,080
293,583



Depreciation


At 1 December 2022
26,335
146,732
173,067


Charge for the year on owned assets
2,653
39,600
42,253


Disposals
(27,988)
(34,463)
(62,451)



At 30 November 2023

1,000
151,869
152,869



Net book value



At 30 November 2023
6,503
134,211
140,714



At 30 November 2022
6,725
50,873
57,598


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2022
75



At 30 November 2023
75




Page 10

 
2LK DESIGN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
784,864
223,085

Amounts owed by group undertakings
37,157
-

Other debtors
129,324
475,418

Prepayments and accrued income
771,841
637,322

1,723,186
1,335,825



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
424,883
159,177

Corporation tax
262,452
496,988

Other taxation and social security
113,794
53,432

Other creditors
8,957
7,515

Accruals and deferred income
2,172,061
1,398,019

2,982,147
2,115,131



8.


Reserves

Profit and loss account

As shown in the Statement of Changes in Equity, there was a capital distribution of £3,700,000 during the year, which was recognised directly against the profit and loss account. These payments were gifts to the 2LK Trustees Ltd Trust to facilitate their purchase of a proportion of the 2LK Design Limited shares.


9.


Commitments under operating leases

At 30 November 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
224,142
6,942

Later than 1 year and not later than 5 years
710,917
12,727

935,059
19,669

 
Page 11