Caseware UK (AP4) 2023.0.135 2023.0.135 2023-10-312023-10-31true502022-11-01falseNo description of principal activity50falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02951516 2022-11-01 2023-10-31 02951516 2021-11-01 2022-10-31 02951516 2023-10-31 02951516 2022-10-31 02951516 c:Director2 2022-11-01 2023-10-31 02951516 d:MotorVehicles 2022-11-01 2023-10-31 02951516 d:MotorVehicles 2023-10-31 02951516 d:MotorVehicles 2022-10-31 02951516 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02951516 d:OfficeEquipment 2022-11-01 2023-10-31 02951516 d:OfficeEquipment 2023-10-31 02951516 d:OfficeEquipment 2022-10-31 02951516 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02951516 d:OwnedOrFreeholdAssets 2022-11-01 2023-10-31 02951516 d:CurrentFinancialInstruments 2023-10-31 02951516 d:CurrentFinancialInstruments 2022-10-31 02951516 d:Non-currentFinancialInstruments 2023-10-31 02951516 d:Non-currentFinancialInstruments 2022-10-31 02951516 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 02951516 d:CurrentFinancialInstruments d:WithinOneYear 2022-10-31 02951516 d:Non-currentFinancialInstruments d:AfterOneYear 2023-10-31 02951516 d:Non-currentFinancialInstruments d:AfterOneYear 2022-10-31 02951516 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-10-31 02951516 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-10-31 02951516 d:ShareCapital 2023-10-31 02951516 d:ShareCapital 2022-10-31 02951516 d:CapitalRedemptionReserve 2023-10-31 02951516 d:CapitalRedemptionReserve 2022-10-31 02951516 d:RetainedEarningsAccumulatedLosses 2023-10-31 02951516 d:RetainedEarningsAccumulatedLosses 2022-10-31 02951516 c:FRS102 2022-11-01 2023-10-31 02951516 c:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 02951516 c:FullAccounts 2022-11-01 2023-10-31 02951516 c:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 02951516 d:HirePurchaseContracts d:WithinOneYear 2023-10-31 02951516 d:HirePurchaseContracts d:WithinOneYear 2022-10-31 02951516 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-10-31 02951516 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-10-31 02951516 2 2022-11-01 2023-10-31 02951516 e:PoundSterling 2022-11-01 2023-10-31 iso4217:GBP xbrli:pure

Registered number: 02951516









COMPUTER SYSTEMS IN EDUCATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2023

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COMPUTER SYSTEMS IN EDUCATION LIMITED
FOR THE YEAR ENDED 31 OCTOBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of COMPUTER SYSTEMS IN EDUCATION LIMITED for the year ended 31 October 2023 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of COMPUTER SYSTEMS IN EDUCATION LIMITED, as a body, in accordance with the terms of our engagement letter dated 25 November 2019Our work has been undertaken solely to prepare for your approval the financial statements of COMPUTER SYSTEMS IN EDUCATION LIMITED and state those matters that we have agreed to state to the Board of Directors of COMPUTER SYSTEMS IN EDUCATION LIMITED, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than COMPUTER SYSTEMS IN EDUCATION LIMITED and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that COMPUTER SYSTEMS IN EDUCATION LIMITED has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of COMPUTER SYSTEMS IN EDUCATION LIMITED. You consider that COMPUTER SYSTEMS IN EDUCATION LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of COMPUTER SYSTEMS IN EDUCATION LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



The Woodstock Accountancy Practice Limited
 
Chartered Accountants
  
3A Market Place
Woodstock
Oxfordshire
OX20 1SY
31 July 2024
Page 1

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
REGISTERED NUMBER: 02951516

BALANCE SHEET
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
36,585
42,665

  
36,585
42,665

Current assets
  

Stocks
  
15,975
15,975

Debtors: amounts falling due after more than one year
 5 
-
128,000

Debtors: amounts falling due within one year
 5 
1,586,551
1,258,877

Cash at bank and in hand
 6 
100,150
101,290

  
1,702,676
1,504,142

Creditors: amounts falling due within one year
 7 
(1,094,755)
(874,476)

Net current assets
  
 
 
607,921
 
 
629,666

Total assets less current liabilities
  
644,506
672,331

Creditors: amounts falling due after more than one year
 8 
(51,666)
(84,917)

  

Net assets
  
592,840
587,414


Capital and reserves
  

Called up share capital 
  
79
79

Capital redemption reserve
  
21
21

Profit and loss account
  
592,740
587,314

  
592,840
587,414


Page 2

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
REGISTERED NUMBER: 02951516
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 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 31 July 2024.




S Curtis
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1.


General information

Computer Systems in Education Limited, Company Number 2951516, is a private company limited by shares incorporated in England and Wales.
The company's registered office is: 3a Market Place, Woodstock, Oxfordshire, OX20 1SY. 
The company's principle activity should be that of the provision of information technology consultancy to the educational sector.

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 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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

Page 4

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
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

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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.

Multi-employer pension plan

The Company is a member of a multi-employer plan. Where it is not possible for the Company to obtain sufficient information to enable it to account for the plan as a defined benefit plan, it accounts for the plan as a defined contribution plan.

 
2.9

Development costs

Identifable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

Page 5

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

2.Accounting policies (continued)

 
2.10

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:

Motor vehicles
-
25%
reducing balance
Office equipment
-
25%
reducing balance

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.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.12

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.

 
2.13

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.

 
2.14

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 6

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 50 (2022 - 50).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 November 2022
43,544
67,725
111,269


Additions
-
7,770
7,770


Disposals
-
(35,840)
(35,840)



At 31 October 2023

43,544
39,655
83,199



Depreciation


At 1 November 2022
19,152
49,453
68,605


Charge for the year on owned assets
6,098
6,112
12,210


Disposals
-
(34,201)
(34,201)



At 31 October 2023

25,250
21,364
46,614



Net book value



At 31 October 2023
18,294
18,291
36,585



At 31 October 2022
24,393
18,272
42,665

Page 7

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
128,000

-
128,000


The Other Debtors balance relates to an indemnity payment made by the company in respect of local government pension schemes following the employment of staff members employed under TUPE regulations from local authorities.  
The expiry date of the indemnity was 3 years from the initial payment date and the balances have therefore been repaid to the company.

2023
2022
£
£

Due within one year

Trade debtors
1,570,448
1,216,336

Other debtors
4,500
33,906

Prepayments and accrued income
11,603
8,635

1,586,551
1,258,877



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
100,150
101,290

100,150
101,290


Page 8

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
20,000
20,000

Trade creditors
743,102
562,841

Other taxation and social security
244,599
193,840

Obligations under finance lease and hire purchase contracts
13,250
13,250

Other creditors
53,227
53,644

Accruals and deferred income
20,577
30,901

1,094,755
874,476



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
51,666
71,667

Net obligations under finance leases and hire purchase contracts
-
13,250

51,666
84,917



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
20,000
20,000

Amounts falling due 1-2 years

Bank loans
51,667
71,667



71,667
91,667


Page 9

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
13,250
13,250

Between 1-5 years
-
13,250

13,250
26,500

Page 10

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

11.


Pension commitments

The Company operates a defined contributions pension scheme for all qualifying employees.
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 £35,102 (2023; £30,236).
Contributions totalling £8,699 (2023; £6,913) were payable to the fund at the balance sheet date and are included in creditors.
The company also contributes to the following defined benefit schemes.
Leicestershire County Council Pension Fund (LCCPF)
The LCCPF is a multi-employer scheme with more than one participating employer, which is administered by Leicestershire County Council under the regulations governing the Local Government Pension Scheme (LGPS), a defined benefit scheme. Triennial actuarial valuations of the pension scheme are performed by an independent, professionally qualified actuary using the projected unit method. The most recent formal actuarial valuation was completed as at 31 March 2022.
As referred to in note 5, on admission to the scheme, the level of risk exposure on the premature termination of the provision of the services by reason of insolvency, winding up or liquidation of the admission body was assessed. The actuarial calculation of this risk was £108,000 (2023; £108,000) and the company was required to contribute this amount into a bond indemnify the level of risk.
The pension cost charge for this scheme represents contributions payable by the company and amounted to £6,230 (2023; £8,343).
There were £695 (2023; £695) outstanding contributions at the end of the financial period.
Worcestershire County Council Pension Fund (LCCPF)
The WCCPF is a multi-employer scheme with more than one participating employer, which is administered by Worcestershire County Council under the regulations governing the Local Government Pension Scheme (LGPS), a defined benefit scheme. Triennial actuarial valuations of the pension scheme are performed by an independent, professionally qualified actuary using the projected unit method. The most recent formal actuarial valuation was completed as at 31 March 2022.
The pension cost charge for this scheme represents contributions payable by the company and amounted to £5,183 (2023; £6,115).
Payments in to the scheme finished dring the financial year and there were £Nil (2022; £510) outstanding contributions at the end of the financial period.
West Midlands Pension Fund (WMPF) 
The WMPF is a multi-employer scheme with more than one participating employer, which is administered by City of Wolverhampton Council under the regulations governing the Local Government Pension Scheme (LGPS), a defined benefit scheme. Triennial actuarial valuations of the pension scheme are performed by an independent, professionally qualified actuary using the projected unit method. The most recent formal actuarial valuation was completed as at 31 March 2022.
 
Page 11

 
COMPUTER SYSTEMS IN EDUCATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
 
11.Pension commitments (continued)

As referred to in note 5, on admission to the scheme, the level of risk exposure on the premature termination of the provision of the services by reason of insolvency, winding up or liquidation of the admission body was assessed. The actuarial calculation of this risk was £20,000 (2023: £20,000) and the company was required to contribute this amount into a bond indemnify the level of risk.  
The pension cost charge for this scheme represents contributions payable by the company and amounted to £4,778 (2023; £6,311).
There were £526 (2023; £526) outstanding contributions at the end of the financial period.


12.


Related party transactions

The directors of the company, Mr and Mrs Derham, have advanced funds to the company, interest free and unsecured.  Details of the balance are set out below and disclosed within Other Creditors; Amounts falling due within one year.


2023
2022
£
£

Mr and Mrs Derham
45,000
45,000
45,000
45,000

 
Page 12