Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-316true2023-01-01falseNo description of principal activity7falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00530358 2023-01-01 2023-12-31 00530358 2022-01-01 2022-12-31 00530358 2023-12-31 00530358 2022-12-31 00530358 c:Director2 2023-01-01 2023-12-31 00530358 d:MotorVehicles 2023-01-01 2023-12-31 00530358 d:MotorVehicles 2023-12-31 00530358 d:MotorVehicles 2022-12-31 00530358 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00530358 d:FurnitureFittings 2023-01-01 2023-12-31 00530358 d:FurnitureFittings 2023-12-31 00530358 d:FurnitureFittings 2022-12-31 00530358 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00530358 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 00530358 d:FreeholdInvestmentProperty 2023-12-31 00530358 d:FreeholdInvestmentProperty 2022-12-31 00530358 d:FreeholdInvestmentProperty 2 2023-01-01 2023-12-31 00530358 d:CurrentFinancialInstruments 2023-12-31 00530358 d:CurrentFinancialInstruments 2022-12-31 00530358 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00530358 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00530358 d:ShareCapital 2023-12-31 00530358 d:ShareCapital 2022-12-31 00530358 d:InvestmentPropertiesRevaluationReserve 2023-12-31 00530358 d:InvestmentPropertiesRevaluationReserve 2022-12-31 00530358 d:RetainedEarningsAccumulatedLosses 2023-12-31 00530358 d:RetainedEarningsAccumulatedLosses 2022-12-31 00530358 c:FRS102 2023-01-01 2023-12-31 00530358 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00530358 c:FullAccounts 2023-01-01 2023-12-31 00530358 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00530358 2 2023-01-01 2023-12-31 00530358 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00530358 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 00530358 d:OtherDeferredTax 2023-12-31 00530358 d:OtherDeferredTax 2022-12-31 00530358 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 00530358









JOHN POLLOCK (OUTFITTERS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
JOHN POLLOCK (OUTFITTERS) LIMITED
REGISTERED NUMBER: 00530358

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
55,357
42,837

Investment property
 5 
375,000
350,000

  
430,357
392,837

Current assets
  

Debtors: amounts falling due within one year
 6 
3,425
3,212

Cash at bank and in hand
 7 
10,472
28,086

  
13,897
31,298

Creditors: amounts falling due within one year
 8 
(33,510)
(31,448)

Net current liabilities
  
 
 
(19,613)
 
 
(150)

Total assets less current liabilities
  
410,744
392,687

Provisions for liabilities
  

Deferred tax
 9 
(59,013)
(39,266)

  
 
 
(59,013)
 
 
(39,266)

Net assets
  
351,731
353,421


Capital and reserves
  

Called up share capital 
  
14,647
14,647

Investment property reserve
  
220,108
211,908

Profit and loss account
  
116,976
126,866

  
351,731
353,421


Page 1

 
JOHN POLLOCK (OUTFITTERS) LIMITED
REGISTERED NUMBER: 00530358
    
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 2 August 2024.



C L Pollock
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

John Pollock (Outfitters) Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 00530358. The address of the registered office is Haslers, Old Station Road, Essex, IG10 4PL. The nature of the company's operations and principal activity is that of hiring of marquees.

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 presentational currency is sterling. The figures have been rounded to the nearest £1. 

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.

Turnover represents the hiring of marquees and income is recognised on completion of the marquee rental.

 
2.3

Interest income

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

 
2.4

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

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 4

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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
Fixtures & Fittings
-
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.

 
2.8

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
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.

Page 5

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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 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.

Derecognition of financial instruments
Page 6

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

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 6 (2022 - 7).

Page 7

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Motor Vehicles
Fixtures & Fittings
Total

£
£
£



Cost or valuation


At 1 January 2023
86,309
239,444
325,753


Additions
-
28,744
28,744


Disposals
(25,190)
-
(25,190)



At 31 December 2023

61,119
268,188
329,307



Depreciation


At 1 January 2023
57,393
225,523
282,916


Charge for the year on owned assets
7,230
7,620
14,850


Disposals
(23,816)
-
(23,816)



At 31 December 2023

40,807
233,143
273,950



Net book value



At 31 December 2023
20,312
35,045
55,357



At 31 December 2022
28,916
13,921
42,837

Page 8

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
350,000


Surplus on revaluation
25,000



At 31 December 2023
375,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.

2023
2022
£
£

Revaluation reserves


At 1 January 2023
211,908
211,908

At 31 December 2023
211,908
211,908





6.


Debtors

2023
2022
£
£


Prepayments and accrued income
3,425
3,212

3,425
3,212



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
10,472
28,086

10,472
28,086


Page 9

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
4,324
2,658

Corporation tax
94
8,196

Other taxation and social security
8,613
1,507

Other creditors
2,231
936

Accruals and deferred income
18,248
18,151

33,510
31,448



9.


Deferred taxation




2023


£






At beginning of year
(39,266)


Charged to profit or loss
(19,747)



At end of year
(59,013)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(5,982)
(3,036)

Revalued Investment property gain
(53,031)
(36,230)

(59,013)
(39,266)


10.


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 £4,229 (2022 - £12,815).

Page 10

 
JOHN POLLOCK (OUTFITTERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

11.


Related party transactions

Related party £31 (2022 : £793) was due to key management personnel.
Dividends of £22,800 (2022 : £35,000) were paid during the year.
Compensation of £24,000 (2022 : £24,000) was paid to key management personnel.


12.


Controlling party

The ultimate controlling party during the year and as at the year end is I Pollock by virtue of his directorship and shareholding.

Page 11