Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false SC468663 2023-04-01 2024-03-31 SC468663 2022-04-01 2023-03-31 SC468663 2024-03-31 SC468663 2023-03-31 SC468663 c:CompanySecretary1 2023-04-01 2024-03-31 SC468663 c:Director2 2023-04-01 2024-03-31 SC468663 c:Director3 2023-04-01 2024-03-31 SC468663 c:RegisteredOffice 2023-04-01 2024-03-31 SC468663 d:Buildings 2023-04-01 2024-03-31 SC468663 d:Buildings 2024-03-31 SC468663 d:Buildings 2023-03-31 SC468663 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC468663 d:MotorVehicles 2023-04-01 2024-03-31 SC468663 d:MotorVehicles 2024-03-31 SC468663 d:MotorVehicles 2023-03-31 SC468663 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC468663 d:FurnitureFittings 2023-04-01 2024-03-31 SC468663 d:FurnitureFittings 2024-03-31 SC468663 d:FurnitureFittings 2023-03-31 SC468663 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC468663 d:OfficeEquipment 2023-04-01 2024-03-31 SC468663 d:OfficeEquipment 2024-03-31 SC468663 d:OfficeEquipment 2023-03-31 SC468663 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC468663 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 SC468663 d:Goodwill 2023-04-01 2024-03-31 SC468663 d:Goodwill 2024-03-31 SC468663 d:Goodwill 2023-03-31 SC468663 d:CurrentFinancialInstruments 2024-03-31 SC468663 d:CurrentFinancialInstruments 2023-03-31 SC468663 c:OrdinaryShareClass1 2023-04-01 2024-03-31 SC468663 c:OrdinaryShareClass1 2024-03-31 SC468663 c:OrdinaryShareClass1 2023-03-31 SC468663 c:FRS102 2023-04-01 2024-03-31 SC468663 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 SC468663 c:FullAccounts 2023-04-01 2024-03-31 SC468663 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC468663 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 SC468663 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC468663










MAIL ORDER CORALS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 
MAIL ORDER CORALS LIMITED
 

COMPANY INFORMATION


Directors
Donna McNeil 
Gary McNeil 




Company secretary
Donna McNeil



Registered number
SC468663



Registered office
67 Forker Avenue

Rosyth

Fife

KY11 2UQ




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
MAIL ORDER CORALS LIMITED
REGISTERED NUMBER:SC468663

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
£
£

  

Fixed assets
  

Intangible assets
  
-
4,000

Tangible assets
 5 
6,200
7,121

  
6,200
11,121

Current assets
  

Stocks
  
10,000
4,500

Debtors: amounts falling due within one year
 6 
446
581

Cash at bank and in hand
  
2,347
737

  
12,793
5,818

Creditors: amounts falling due within one year
 7 
(12,452)
(15,203)

Net current assets/(liabilities)
  
 
 
341
 
 
(9,385)

Total assets less current liabilities
  
6,541
1,736

  

Provisions for liabilities
  

Deferred taxation
  
(407)
(445)

  
 
 
(407)
 
 
(445)

  

Net assets
  
6,134
1,291


Capital and reserves
  

Called up share capital 
 8 
1,000
1,000

Profit and loss account
  
5,134
291

  
6,134
1,291

Page 1

 
MAIL ORDER CORALS LIMITED
REGISTERED NUMBER:SC468663

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 19 August 2024.




Donna McNeil
Gary McNeil
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
MAIL ORDER CORALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Mail Order Corals Limited is a company, limited by shares and incorporated in Scotland, registration number SC468663. The registered office address is 67 Forker Avenue, Rosyth, Fife, KY11 2UQ.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

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.

Page 3

 
MAIL ORDER CORALS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting 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 reporting 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 reporting date.

 
2.5

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
MAIL ORDER CORALS LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Property improvements
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Office equipment
-
33.33% 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.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting 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.

 
2.8

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 2 (2023 - 2).

Page 5

 
MAIL ORDER CORALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
40,000



At 31 March 2024

40,000



Amortisation


At 1 April 2023
36,000


Charge for the year on owned assets
4,000



At 31 March 2024

40,000



Net book value



At 31 March 2024
-



At 31 March 2023
4,000



Page 6

 
MAIL ORDER CORALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Property improve-ments
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
11,494
222
14,310
507
26,533


Additions
-
-
-
466
466


Disposals
-
-
-
(507)
(507)



At 31 March 2024

11,494
222
14,310
466
26,492



Depreciation


At 1 April 2023
6,737
201
11,967
507
19,412


Charge for the year on owned assets
713
5
586
83
1,387


Disposals
-
-
-
(507)
(507)



At 31 March 2024

7,450
206
12,553
83
20,292



Net book value



At 31 March 2024
4,044
16
1,757
383
6,200



At 31 March 2023
4,757
21
2,343
-
7,121

Page 7

 
MAIL ORDER CORALS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
102
255

Prepayments and accrued income
344
326

446
581



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
398
357

Other taxation and social security
9,619
13,394

Other creditors
1,680
697

Accruals and deferred income
755
755

12,452
15,203



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



Page 8