Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-3022022-12-01falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11508477 2022-12-01 2023-11-30 11508477 2021-12-01 2022-11-30 11508477 2023-11-30 11508477 2022-11-30 11508477 c:Director1 2022-12-01 2023-11-30 11508477 d:PlantMachinery 2022-12-01 2023-11-30 11508477 d:PlantMachinery 2023-11-30 11508477 d:PlantMachinery 2022-11-30 11508477 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11508477 d:MotorVehicles 2022-12-01 2023-11-30 11508477 d:MotorVehicles 2023-11-30 11508477 d:MotorVehicles 2022-11-30 11508477 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11508477 d:OfficeEquipment 2022-12-01 2023-11-30 11508477 d:OfficeEquipment 2023-11-30 11508477 d:OfficeEquipment 2022-11-30 11508477 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11508477 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 11508477 d:CurrentFinancialInstruments 2023-11-30 11508477 d:CurrentFinancialInstruments 2022-11-30 11508477 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11508477 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 11508477 d:ShareCapital 2023-11-30 11508477 d:ShareCapital 2022-11-30 11508477 d:RetainedEarningsAccumulatedLosses 2023-11-30 11508477 d:RetainedEarningsAccumulatedLosses 2022-11-30 11508477 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-11-30 11508477 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-11-30 11508477 c:OrdinaryShareClass1 2022-12-01 2023-11-30 11508477 c:OrdinaryShareClass1 2023-11-30 11508477 c:OrdinaryShareClass1 2022-11-30 11508477 c:OrdinaryShareClass2 2022-12-01 2023-11-30 11508477 c:OrdinaryShareClass2 2023-11-30 11508477 c:OrdinaryShareClass2 2022-11-30 11508477 c:OrdinaryShareClass3 2022-12-01 2023-11-30 11508477 c:OrdinaryShareClass3 2023-11-30 11508477 c:OrdinaryShareClass3 2022-11-30 11508477 c:FRS102 2022-12-01 2023-11-30 11508477 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 11508477 c:FullAccounts 2022-12-01 2023-11-30 11508477 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11508477 6 2022-12-01 2023-11-30 11508477 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 11508477














SELLING DEVELOPMENTS (GROUP) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2023

 
SELLING DEVELOPMENTS (GROUP) LIMITED
REGISTERED NUMBER: 11508477

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note

Fixed assets
  

Tangible assets
 4 
14,375
18,378

Investments
 5 
124
124

  
14,499
18,502

Current assets
  

Debtors: amounts falling due within one year
 6 
2,356,043
2,405,697

Cash at bank and in hand
 7 
797
2,168

  
2,356,840
2,407,865

Creditors: amounts falling due within one year
 8 
(2,363,352)
(2,396,778)

Net current (liabilities)/assets
  
 
 
(6,512)
 
 
11,087

Total assets less current liabilities
  
7,987
29,589

Net assets
  
£7,987
£29,589


Capital and reserves
  

Called up share capital 
 10 
126
126

Profit and loss account
  
7,861
29,463

  
£7,987
£29,589


Page 1

 
SELLING DEVELOPMENTS (GROUP) LIMITED
REGISTERED NUMBER: 11508477

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 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 7 March 2024.




___________________________
J R Selling
Director

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

Page 2

 
SELLING DEVELOPMENTS (GROUP) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Selling Developments (Group) Limited is a private company limited by shares and is incorporated in England and Wales. The registered number is 11508477 and the registered address is Henwood House, Henwood, Ashford, Kent, TN24 8DH. 

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

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.

 
2.3

Taxation

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.

 
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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance basis
Motor vehicles
-
15%
reducing balance basis
Office equipment
-
25%
straight line basis

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.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 
SELLING DEVELOPMENTS (GROUP) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

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
Page 4

 
SELLING DEVELOPMENTS (GROUP) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.9
Financial instruments (continued)

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

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.

 
2.10

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.

Page 5

 
SELLING DEVELOPMENTS (GROUP) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

3.


Employees

2023
2022

Wages and salaries
-
12,752

£-
£12,752


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total



Cost or valuation


At 1 December 2022
34,993
11,678
2,179
48,850



At 30 November 2023

34,993
11,678
2,179
48,850



Depreciation


At 1 December 2022
23,759
5,228
1,485
30,472


Charge for the year on owned assets
2,810
967
226
4,003



At 30 November 2023

26,569
6,195
1,711
34,475



Net book value



At 30 November 2023
£8,424
£5,483
£468
£14,375



At 30 November 2022
£11,234
£6,450
£694
£18,378


5.


Fixed asset investments





Investments in subsidiary companies



Cost or valuation


At 1 December 2022
124



At 30 November 2023
£124




Page 6

 
SELLING DEVELOPMENTS (GROUP) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Debtors

2023
2022


Amounts owed by group undertakings
1,364
-

Other debtors
2,354,679
2,405,697

£2,356,043
£2,405,697



7.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
£797
£2,168



8.


Creditors: Amounts falling due within one year

2023
2022

Amounts owed to group undertakings
2,355,232
2,392,322

Corporation tax
-
1,956

Accruals and deferred income
8,120
2,500

£2,363,352
£2,396,778



9.


Financial instruments

2023
2022

Financial assets


Financial assets measured at fair value through profit or loss
£797
£2,168




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Share capital

2023
2022
Allotted, called up and fully paid



42 (2022 - 42) Ordinary A shares of £1.00 each
42
42
42 (2022 - 42) Ordinary B shares of £1.00 each
42
42
42 (2022 - 42) Ordinary C shares of £1.00 each
42
42

£126

£126


Page 7

 
SELLING DEVELOPMENTS (GROUP) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

11.


Related party transactions

At the balance sheet date £2,351,091 (2022 - £2,402,471) was owed to the company by companies under the control of the directors and their family members.

Page 8

 
SELLING DEVELOPMENTS (GROUP) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

12.

Controlling party

The parent undertaking of the company is Selling Developments (Holdings) Limited, a company incorporated in England and Wales. 
There is no controlling party of the parent company.
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.



Page 9