Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01truefalseNo description of principal activity1714trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00218842 2023-01-01 2023-12-31 00218842 2022-01-01 2022-12-31 00218842 2023-12-31 00218842 2022-12-31 00218842 c:Director4 2023-01-01 2023-12-31 00218842 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 00218842 d:PlantMachinery 2023-01-01 2023-12-31 00218842 d:MotorVehicles 2023-01-01 2023-12-31 00218842 d:FurnitureFittings 2023-01-01 2023-12-31 00218842 d:OfficeEquipment 2023-01-01 2023-12-31 00218842 d:CurrentFinancialInstruments 2023-12-31 00218842 d:CurrentFinancialInstruments 2022-12-31 00218842 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 00218842 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 00218842 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 00218842 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 00218842 d:ShareCapital 2023-12-31 00218842 d:ShareCapital 2022-12-31 00218842 d:RetainedEarningsAccumulatedLosses 2023-12-31 00218842 d:RetainedEarningsAccumulatedLosses 2022-12-31 00218842 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2023-12-31 00218842 d:FinancialLiabilitiesFairValueThroughProfitOrLoss d:ListedExchangeTraded 2022-12-31 00218842 c:FRS102 2023-01-01 2023-12-31 00218842 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 00218842 c:FullAccounts 2023-01-01 2023-12-31 00218842 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00218842 d:WithinOneYear 2023-12-31 00218842 d:WithinOneYear 2022-12-31 00218842 d:BetweenOneFiveYears 2023-12-31 00218842 d:BetweenOneFiveYears 2022-12-31 00218842 d:MoreThanFiveYears 2023-12-31 00218842 d:MoreThanFiveYears 2022-12-31 00218842 d:CurrentFinancialInstruments 6 2023-12-31 00218842 d:CurrentFinancialInstruments 6 2022-12-31 00218842 6 2023-01-01 2023-12-31 00218842 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 00218842 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 00218842 f:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 00218842









JOSEPH FLACH & SONS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
JOSEPH FLACH & SONS LIMITED
REGISTERED NUMBER: 00218842

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
238,784
234,007

Investments
 5 
10,246
10,246

  
249,030
244,253

Current assets
  

Stocks
  
1,280,185
885,793

Debtors: amounts falling due within one year
 6 
1,139,092
942,539

Cash at bank and in hand
  
929,408
967,522

  
3,348,685
2,795,854

Creditors: amounts falling due within one year
 7 
(1,069,281)
(826,845)

Net current assets
  
 
 
2,279,404
 
 
1,969,009

Total assets less current liabilities
  
2,528,434
2,213,262

Creditors: amounts falling due after more than one year
 8 
(8,333)
-

Provisions for liabilities
  

Deferred tax
 10 
(56,013)
(56,348)

Net assets
  
2,464,088
2,156,914


Capital and reserves
  

Called up share capital 
  
21,200
21,200

Profit and loss account
  
2,442,888
2,135,714

  
2,464,088
2,156,914


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.

Page 1

 
JOSEPH FLACH & SONS LIMITED
REGISTERED NUMBER: 00218842

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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 profit and loss account 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 19 July 2024.




................................................
Mrs J Dobson
Director

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

Page 2

 
JOSEPH FLACH & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Joseph Flach & Sons Limited is a private company limited by shares incorporated in England and Wales under the Companies Act 2006. The address of its registered office is 24/25 Maxwell Road, Peterborough, England, PE2 7JD.

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

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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 3

 
JOSEPH FLACH & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

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.

The estimated useful lives range as follows:

L/hold property improvements
-
Over the term of the lease
Plant and machinery
-
10% straight line
Motor vehicles
-
25% straight line
Fixtures and fittings
-
10% straight line
Office equipment
-
33% straight line

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.

 
2.4

Valuation of investments

Investments whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

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
Page 4

 
JOSEPH FLACH & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.6
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.8

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.

 
2.9

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

 
JOSEPH FLACH & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2022 - 14).

Page 6

 
JOSEPH FLACH & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£
£



Cost


At 1 January 2023
43,623
110,801
79,218
7,089
72,230
312,961


Additions
6,738
11,464
-
2,135
46,431
66,768


Disposals
-
(3,177)
-
-
-
(3,177)



At 31 December 2023

50,361
119,088
79,218
9,224
118,661
376,552



Depreciation


At 1 January 2023
6,725
27,136
4,781
1,874
38,438
78,954


Charge for the year on owned assets
8,856
11,296
19,804
791
18,067
58,814



At 31 December 2023

15,581
38,432
24,585
2,665
56,505
137,768



Net book value



At 31 December 2023
34,780
80,656
54,633
6,559
62,156
238,784



At 31 December 2022
36,898
83,665
74,437
5,215
33,792
234,007


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 January 2023
10,246



At 31 December 2023
10,246




Page 7

 
JOSEPH FLACH & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
272,376
238,477

Prepayments
79,080
47,261

Amounts owed by group undertakings
787,636
656,644

Other debtors
-
157

1,139,092
942,539



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
680,152
605,488

Accruals and deferred income
98,890
79,470

Corporation tax
207,763
103,980

Other taxation and social security
69,682
27,574

Other creditors
11,549
5,434

Financial instruments
1,245
4,899

1,069,281
826,845



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Accruals and deferred income
8,333
-



9.


Financial instruments

2023
2022
£
£



Financial liabilities


Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio
1,245
4,899


Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio comprise forward contracts on Euro currency with a value of €75,000. As at 31 December 2023 movements in exchange rates have resulted in a loss of £1,245.
Page 8

 
JOSEPH FLACH & SONS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






At beginning of year
56,348


Charged to profit or loss
(335)



At end of year
56,013

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
56,013
56,348


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 £41,718 (2022 - £21,765). Contributions totalling £5,519 (2022 - £4,801) were payable to the fund at the balance sheet date and are included in creditors.


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
92,500
92,500

Later than 1 year and not later than 5 years
192,708
277,500

Later than 5 years
-
7,708

285,208
377,708


13.


Exemption from producing consolidated accounts

The company is part of a group for which no consolidated accounts have been prepared, as the parent company has taken the small group exemptions available under Section 399 of the Companies Act 2006.

Page 9