Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312024-05-102023-12-312024-05-10true2023-01-01falseAcademy management support11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 09312898 2023-01-01 2023-12-31 09312898 2022-01-01 2022-12-31 09312898 2023-12-31 09312898 2022-12-31 09312898 2022-01-01 09312898 c:Director1 2023-01-01 2023-12-31 09312898 d:PlantMachinery 2023-01-01 2023-12-31 09312898 d:PlantMachinery 2023-12-31 09312898 d:PlantMachinery 2022-12-31 09312898 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09312898 d:MotorVehicles 2023-01-01 2023-12-31 09312898 d:MotorVehicles 2023-12-31 09312898 d:MotorVehicles 2022-12-31 09312898 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09312898 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09312898 d:CurrentFinancialInstruments 2023-12-31 09312898 d:CurrentFinancialInstruments 2022-12-31 09312898 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09312898 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09312898 d:ShareCapital 2023-12-31 09312898 d:ShareCapital 2022-12-31 09312898 d:RetainedEarningsAccumulatedLosses 2023-12-31 09312898 d:RetainedEarningsAccumulatedLosses 2022-12-31 09312898 c:FRS102 2023-01-01 2023-12-31 09312898 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09312898 c:FullAccounts 2023-01-01 2023-12-31 09312898 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09312898 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 09312898 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 09312898 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 09312898 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 09312898 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 09312898










SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE
PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
FOR THE YEAR ENDED 31 DECEMBER 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 Scaife Finance and Business Solutions Ltd for the year ended 31 December 2023 which comprise the Statement of Income and Retained Earnings, 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 director of Scaife Finance and Business Solutions Ltd in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Scaife Finance and Business Solutions Ltd and state those matters that we have agreed to state to the director of Scaife Finance and Business Solutions Ltd 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 Scaife Finance and Business Solutions Ltd and its director for our work or for this report. 

It is your duty to ensure that Scaife Finance and Business Solutions Ltd 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 loss of Scaife Finance and Business Solutions Ltd. You consider that Scaife Finance and Business Solutions Ltd 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 Scaife Finance and Business Solutions Ltd. 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.

  



Shorts
 
Chartered Accountants
  
Cedar House
63 Napier Street
Sheffield
South Yorkshire
S11 8HA
10 May 2024
Page 1

 
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
REGISTERED NUMBER: 09312898

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,919
27,159

Current assets
  

Debtors: amounts falling due within one year
 5 
6,101
2,332

Cash at bank and in hand
  
8,209
19,611

  
14,310
21,943

Creditors: amounts falling due within one year
 6 
(16,699)
(16,578)

Net current (liabilities)/assets
  
 
 
(2,389)
 
 
5,365

Total assets less current liabilities
  
20,530
32,524

Provisions for liabilities
  

Deferred tax
 7 
(2,035)
(4,219)

Net assets
  
18,495
28,305


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
18,395
28,205

  
18,495
28,305


Page 2

 
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
REGISTERED NUMBER: 09312898
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 on 10 May 2024.




P Scaife
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Scaife Finance and Business Solutions Ltd is a private Company limited by shares, incorporated in England and Wales (registered number: 09312898). Its registered office is 63 Napier Street, Sheffield, South Yorkshire, S11 8HA. The principal activity of the Company throughout the year continued to be that of academy management support.

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 Company's functional and presentation currency is pounds sterling.

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

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 the Statement of Income and Retained Earnings 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 4

 
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

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, as follows.

The depreciation rates used are:

Plant and machinery
-
33%
Straight Line
Motor vehicles
-
15%
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 the Statement of Income and Retained Earnings.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties. 
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Page 5

 
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.6

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.
The current 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 January 2023
3,002
36,305
39,307



At 31 December 2023

3,002
36,305
39,307



Depreciation


At 1 January 2023
2,807
9,341
12,148


Charge for the year on owned assets
195
4,045
4,240



At 31 December 2023

3,002
13,386
16,388



Net book value



At 31 December 2023
-
22,919
22,919



At 31 December 2022
195
26,964
27,159

Page 6

 
SCAIFE FINANCE AND BUSINESS SOLUTIONS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
5,000
-

Other debtors
-
1,337

Prepayments and accrued income
1,101
995

6,101
2,332



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
750
671

Other creditors
13,649
13,907

Accruals and deferred income
2,300
2,000

16,699
16,578



7.


Deferred taxation




2023
2022


£

£






At beginning of year
4,219
5,145


Charged to Statement of Income and Retained Earnings
(2,184)
(926)



At end of year
2,035
4,219

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
3,583
4,219

Tax losses carried forward
(1,548)
-

2,035
4,219

 
Page 7