Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3124No description of principal activity2023-01-01false20falsetrue SC502595 2023-01-01 2023-12-31 SC502595 2022-01-01 2022-12-31 SC502595 2023-12-31 SC502595 2022-12-31 SC502595 c:Director3 2023-01-01 2023-12-31 SC502595 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 SC502595 d:Buildings d:LongLeaseholdAssets 2023-12-31 SC502595 d:Buildings d:LongLeaseholdAssets 2022-12-31 SC502595 d:OfficeEquipment 2023-01-01 2023-12-31 SC502595 d:OfficeEquipment 2023-12-31 SC502595 d:OfficeEquipment 2022-12-31 SC502595 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC502595 d:ComputerEquipment 2023-01-01 2023-12-31 SC502595 d:ComputerEquipment 2023-12-31 SC502595 d:ComputerEquipment 2022-12-31 SC502595 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC502595 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC502595 d:CurrentFinancialInstruments 2023-12-31 SC502595 d:CurrentFinancialInstruments 2022-12-31 SC502595 d:Non-currentFinancialInstruments 2023-12-31 SC502595 d:Non-currentFinancialInstruments 2022-12-31 SC502595 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC502595 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC502595 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 SC502595 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 SC502595 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 SC502595 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 SC502595 d:ShareCapital 2023-12-31 SC502595 d:ShareCapital 2022-12-31 SC502595 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC502595 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC502595 c:OrdinaryShareClass1 2023-01-01 2023-12-31 SC502595 c:OrdinaryShareClass1 2023-12-31 SC502595 c:OrdinaryShareClass1 2022-12-31 SC502595 c:FRS102 2023-01-01 2023-12-31 SC502595 c:Audited 2023-01-01 2023-12-31 SC502595 c:FullAccounts 2023-01-01 2023-12-31 SC502595 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC502595 d:WithinOneYear 2023-12-31 SC502595 d:WithinOneYear 2022-12-31 SC502595 d:BetweenOneFiveYears 2023-12-31 SC502595 d:BetweenOneFiveYears 2022-12-31 SC502595 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC502595 2 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: SC502595










ALTIDO SCOTLAND LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ALTIDO SCOTLAND LIMITED
REGISTERED NUMBER: SC502595

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
59,484
41,516

  
59,484
41,516

Current assets
  

Debtors: amounts falling due within one year
 5 
1,274,429
530,640

Cash at bank and in hand
 6 
1,163,208
1,145,105

  
2,437,637
1,675,745

Creditors: amounts falling due within one year
 7 
(1,262,766)
(1,200,596)

Net current assets
  
 
 
1,174,871
 
 
475,149

Total assets less current liabilities
  
1,234,355
516,665

Creditors: amounts falling due after more than one year
  
(82,923)
(137,920)

Provisions for liabilities
  

Deferred tax
  
(8,594)
-

  
 
 
(8,594)
 
 
-

Net assets
  
1,142,838
378,745


Capital and reserves
  

Called up share capital 
  
37,000
37,000

Profit and loss account
  
1,105,838
341,745

  
1,142,838
378,745


Page 1

 
ALTIDO SCOTLAND LIMITED
REGISTERED NUMBER: SC502595
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 by: 





W. Parry
Director

Date: 28 March 2024

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
ALTIDO SCOTLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Altido Scotland Limited in a private company limited by shares incorporated in Scotland. The registered office is Arch 3 East Market Street, Edinburgh, United Kingdom, EH8 8FS.
The principal activity of the company continued to be that of management of real estate. 

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 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

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.

 
2.4

Interest income

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

 
2.5

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 3

 
ALTIDO SCOTLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
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.

 
2.8

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:

Leasehold Improvements
-
20%
Office equipment
-
33%
Computer equipment
-
33%

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.

Page 4

 
ALTIDO SCOTLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2022: 20).

Page 5

 
ALTIDO SCOTLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Long-term leasehold improvements
Office equipment
Computer equipment
Total

£
£
£
£



COST OR VALUATION


At 1 January 2023
27,479
37,979
12,465
77,923


Additions
24,223
1,686
4,110
30,019



At 31 December 2023

51,702
39,665
16,575
107,942



DEPRECIATION


At 1 January 2023
4,712
22,935
8,759
36,406


Charge for the year on owned assets
4,591
6,199
1,262
12,052



At 31 December 2023

9,303
29,134
10,021
48,458



NET BOOK VALUE



At 31 December 2023
42,399
10,531
6,554
59,484



At 31 December 2022
22,766
15,044
3,706
41,516


5.


Debtors

2023
2022
£
£


Trade debtors
280,308
100,433

Amounts owed by group undertakings
836,822
306,257

Other debtors
115,496
84,393

Prepayments
41,803
39,557

1,274,429
530,640


Page 6

 
ALTIDO SCOTLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,163,208
1,145,105

1,163,208
1,145,105



7.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
2022
£
£

Bank loans
55,000
55,000

Trade creditors
214,189
154,807

Amounts owed to group undertakings
310,464
126,374

Corporation tax
-
71,024

Other taxation and social security
48,845
77,763

Other creditors
561,928
611,528

Accruals and deferred income
72,340
104,100

1,262,766
1,200,596



8.


Creditors: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023
2022
£
£

Bank loans
82,923
137,920

82,923
137,920


Page 7

 
ALTIDO SCOTLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
55,000
55,000


55,000
55,000



AMOUNTS FALLING DUE AFTER MORE THAN 1 YEAR

Bank loans
82,923
137,920

82,923
137,920

137,923
192,920


At the year end the company had a bank loan outstanding amounting to £35,420 (2022: £60,420), repayable in monthly installments of £2,083. Interest is payable at a rate of 3.19% per annum. The total balance is due for repayment in May 2026.
Additionally, at the year end the company had a second bank loan outstanding amounting to £102,503, (2022: £132,500) repayable in monthly installments of £2,500. Interest is payable at a rate of 2.4% per annum. The total balance is due for repayment in April 2027.


10.


Share capital

2023
2022
£
£
Ordinary share capital issued and not fully paid



100,000 (2022: 100,000) Ordinary shares of £0.37 each
37,000
37,000


11.


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 £9,584 (2022: £8,594) . Contributions totalling £2,891 (2022: £3,109) were payable to the fund at the balance sheet date and are included in creditors.

Page 8

 
ALTIDO SCOTLAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


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
612,960
409,994

Later than 1 year and not later than 5 years
1,601,407
884,559

2,214,367
1,294,553


13.


Related party transactions

As a wholly owned subsidary undertaking of Altido Limited, the company has taken advantage of the exemption in Financial Reporting Standard 102 Section 33 'Related party disclosures' in not disclosing intra group transactions between two or more members of the group. 


14.


Controlling party

The 100% shareholder of the company was Altido Ltd incorporated in England and Wales. Altido Ltd is a 100% subsidary of Dovevivo S.P.A


15.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 10 April 2024 by Mark Munro FCA (Senior Statutory Auditor) on behalf of Bishop Fleming LLP.

 
Page 9