Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-31false2023-01-01No description of principal activity1615falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06573672 2023-01-01 2023-12-31 06573672 2022-01-01 2022-12-31 06573672 2023-12-31 06573672 2022-12-31 06573672 2022-01-01 06573672 c:CompanySecretary1 2023-01-01 2023-12-31 06573672 c:Director1 2023-01-01 2023-12-31 06573672 c:Director2 2023-01-01 2023-12-31 06573672 c:RegisteredOffice 2023-01-01 2023-12-31 06573672 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 06573672 d:Buildings d:ShortLeaseholdAssets 2023-12-31 06573672 d:Buildings d:ShortLeaseholdAssets 2022-12-31 06573672 d:FurnitureFittings 2023-01-01 2023-12-31 06573672 d:OfficeEquipment 2023-01-01 2023-12-31 06573672 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06573672 d:OtherPropertyPlantEquipment 2023-12-31 06573672 d:OtherPropertyPlantEquipment 2022-12-31 06573672 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06573672 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06573672 d:Goodwill 2023-01-01 2023-12-31 06573672 d:Goodwill 2023-12-31 06573672 d:Goodwill 2022-12-31 06573672 d:CurrentFinancialInstruments 2023-12-31 06573672 d:CurrentFinancialInstruments 2022-12-31 06573672 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06573672 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06573672 d:ShareCapital 2023-01-01 2023-12-31 06573672 d:ShareCapital 2023-12-31 06573672 d:ShareCapital 2022-01-01 2022-12-31 06573672 d:ShareCapital 2022-12-31 06573672 d:ShareCapital 2022-01-01 06573672 d:OtherMiscellaneousReserve 2023-01-01 2023-12-31 06573672 d:OtherMiscellaneousReserve 2023-12-31 06573672 d:OtherMiscellaneousReserve 2022-01-01 2022-12-31 06573672 d:OtherMiscellaneousReserve 2022-12-31 06573672 d:OtherMiscellaneousReserve 2022-01-01 06573672 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 06573672 d:RetainedEarningsAccumulatedLosses 2023-12-31 06573672 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 06573672 d:RetainedEarningsAccumulatedLosses 2022-12-31 06573672 d:RetainedEarningsAccumulatedLosses 2022-01-01 06573672 c:OrdinaryShareClass1 2023-01-01 2023-12-31 06573672 c:OrdinaryShareClass1 2023-12-31 06573672 c:OrdinaryShareClass1 2022-12-31 06573672 c:FRS102 2023-01-01 2023-12-31 06573672 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06573672 c:FullAccounts 2023-01-01 2023-12-31 06573672 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06573672 d:WithinOneYear 2023-12-31 06573672 d:WithinOneYear 2022-12-31 06573672 d:BetweenOneFiveYears 2023-12-31 06573672 d:BetweenOneFiveYears 2022-12-31 06573672 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 06573672 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 06573672 2 2023-01-01 2023-12-31 06573672 6 2023-01-01 2023-12-31 06573672 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 06573672 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 06573672










JPES PARTNERS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




















 
JPES PARTNERS LIMITED
 
 
Company Information


Directors
J P E Samways 
M N Donohoe 




Company secretary
M Harpham



Registered number
06573672



Registered office
4 Coldbath Square

London

EC1R 5HL





 
JPES PARTNERS LIMITED
Registered number: 06573672

Balance sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
28,188
36,859

Tangible assets
 5 
41,445
36,788

  
69,633
73,647

Current assets
  

Debtors: amounts falling due within one year
 6 
216,248
172,886

Current asset investments
 7 
583,258
407,232

Cash at bank and in hand
  
455,423
526,443

  
1,254,929
1,106,561

Creditors: amounts falling due within one year
 8 
(815,949)
(716,492)

Net current assets
  
 
 
438,980
 
 
390,069

Total assets less current liabilities
  
508,613
463,716

Provisions for liabilities
  

Deferred tax
 9 
(10,363)
(6,990)

  
 
 
(10,363)
 
 
(6,990)

Net assets
  
498,250
456,726


Capital and reserves
  

Called up share capital 
 10 
100
100

Other reserves
 11 
49,207
49,207

Profit and loss account
 11 
448,943
407,419

  
498,250
456,726


Page 1

 
JPES PARTNERS LIMITED
Registered number: 06573672
    
Balance sheet (continued)
As at 31 December 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 comprehensive income 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 12 July 2024.




J P E Samways
Director

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

Page 2

 
JPES PARTNERS LIMITED
 

Statement of changes in equity
For the year ended 31 December 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
100
49,207
475,583
524,890


Comprehensive income for the year

Profit for the year
-
-
206,795
206,795

Exercise of share options
-
-
73,041
73,041
Total comprehensive income for the year
-
-
279,836
279,836


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(348,000)
(348,000)


Total transactions with owners
-
-
(348,000)
(348,000)



At 1 January 2023
100
49,207
407,419
456,726


Comprehensive income for the year

Profit for the year
-
-
223,524
223,524
Total comprehensive income for the year
-
-
223,524
223,524


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(182,000)
(182,000)


At 31 December 2023
100
49,207
448,943
498,250


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

Page 3

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

1.


General information

JPES Partners Limited ("the Company") is a private company limited by share capital, incorporated in the United Kingdom, and registered in England and Wales with registration number 06573672. The registered office address is 4 Coldbath Square, London, EC1R 5HL.

The principal activity of the Company is that of communications consultancy.

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

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 Profit and loss account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Turnover comprises revenue recognised by the Company in respect of services supplied during the year, exclusive of Value Added Tax.
Turnover is recognised in the period in which the service is supplied.

Page 4

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
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

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.

 
2.7

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 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.

Page 5

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life of 10 years.

 
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:

S/Term Leasehold Property
-
over 5 years
Fixtures & fittings
-
25% straight line
Office equipment
-
25% straight line
Artwork
-
not depreciated due to indefinite useful life

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 listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Debtors

Short-term debtors are measured at transaction price, 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.

 
2.13

Creditors

Short-term creditors are measured at the transaction price.

Page 6

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

2.Accounting policies (continued)

 
2.14

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.

 
2.15

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 16 (2022 - 15).

Page 7

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
86,722



At 31 December 2023

86,722



Amortisation


At 1 January 2023
49,863


Charge for the year on owned assets
8,671



At 31 December 2023

58,534



Net book value



At 31 December 2023
28,188



At 31 December 2022
36,859



Page 8

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

5.


Tangible fixed assets





S/Term Leasehold Property
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2023
88,603
106,899
195,502


Additions
-
9,675
9,675



At 31 December 2023

88,603
116,574
205,177



Depreciation


At 1 January 2023
88,603
70,111
158,714


Charge for the year on owned assets
-
5,018
5,018



At 31 December 2023

88,603
75,129
163,732



Net book value



At 31 December 2023
-
41,445
41,445



At 31 December 2022
-
36,789
36,789


6.


Debtors

2023
2022
£
£


Trade debtors
185,599
146,576

Other debtors
1,272
-

Prepayments and accrued income
29,377
26,310

216,248
172,886


Page 9

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

7.


Current asset investments

2023
2022
£
£

Listed investments
583,258
407,232

583,258
407,232



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
22,218
32,154

Amounts owed to group undertakings
300,752
240,047

Corporation tax
72,993
55,328

Other taxation and social security
134,501
90,207

Other creditors
226,501
264,752

Accruals and deferred income
58,984
34,004

815,949
716,492



9.


Deferred taxation




2023


£






At beginning of year
(6,990)


Charged to profit or loss
(3,373)



At end of year
(10,363)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(10,363)
(6,990)

(10,363)
(6,990)

Page 10

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and unpaid



10,000 (2022 - 10,000) Ordinary shares shares of £0.01 each
100
100



11.


Reserves

Other reserves

Other reserves comprise a capital contribution reserve arising on the acquisition of goodwill.

Profit & loss account

On 14 December 2022, the company’s parent company issued 3,207 Ordinary shares at their nominal value to certain employees of the company pursuant to the exercise of EMI share options. A share based payment charge equal to the market value of the shares at the date of exercise has been recognised within the profit and loss account and profit and loss reserve.


12.


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 £43,276 (2022: £43,918). Contributions totalling £9,063 (2022: £10,130) were payable to the fund at the balance sheet date and are included in creditors.


13.


Commitments under operating leases

At 31 December 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
84,000
84,000

Later than 1 year and not later than 5 years
12,658
96,658

96,658
180,658

Page 11

 
JPES PARTNERS LIMITED
 
 
 
Notes to the financial statements
For the year ended 31 December 2023

14.


Related party transactions

During the year, the Company operated a loan account with a director. At the year end, the Company owed the director £163,563 (2022: £227,233). The loan is interest free and repayable on demand.

During the year, the Company operated a loan account with another director. At the year end, the Company owed the director £31 (2022: £13). The loan is interest free and repayable on demand.

During the year, the Company operated a loan account with a company under common control. At the year end, JPES Partners Limited owed £106,260 (2022: £46,260). The loan is interest free and repayable on demand.

The Company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.

 
Page 12