Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-01falseNo description of principal activity11truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 05280184 2022-12-01 2023-11-30 05280184 2021-12-01 2022-11-30 05280184 2023-11-30 05280184 2022-11-30 05280184 2021-12-01 05280184 c:PriorPeriodIncreaseDecrease 2021-12-01 2022-11-30 05280184 1 2022-12-01 2023-11-30 05280184 1 2021-12-01 2022-11-30 05280184 e:Director1 2022-12-01 2023-11-30 05280184 c:CurrentFinancialInstruments 2023-11-30 05280184 c:CurrentFinancialInstruments 2022-11-30 05280184 c:Non-currentFinancialInstruments 2023-11-30 05280184 c:Non-currentFinancialInstruments 2022-11-30 05280184 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 05280184 c:CurrentFinancialInstruments c:WithinOneYear 2022-11-30 05280184 c:Non-currentFinancialInstruments c:AfterOneYear 2023-11-30 05280184 c:Non-currentFinancialInstruments c:AfterOneYear 2022-11-30 05280184 c:ShareCapital 2023-11-30 05280184 c:ShareCapital 2022-11-30 05280184 c:ShareCapital 2021-12-01 05280184 c:OtherMiscellaneousReserve 2022-12-01 2023-11-30 05280184 c:OtherMiscellaneousReserve 2023-11-30 05280184 c:OtherMiscellaneousReserve 1 2022-12-01 2023-11-30 05280184 c:OtherMiscellaneousReserve 2022-11-30 05280184 c:OtherMiscellaneousReserve c:PriorPeriodIncreaseDecrease 2021-12-01 2022-11-30 05280184 c:OtherMiscellaneousReserve 2021-12-01 05280184 c:OtherMiscellaneousReserve 1 2021-12-01 2022-11-30 05280184 c:RetainedEarningsAccumulatedLosses 2022-12-01 2023-11-30 05280184 c:RetainedEarningsAccumulatedLosses 2023-11-30 05280184 c:RetainedEarningsAccumulatedLosses 1 2022-12-01 2023-11-30 05280184 c:RetainedEarningsAccumulatedLosses 2021-12-01 2022-11-30 05280184 c:RetainedEarningsAccumulatedLosses 2022-11-30 05280184 c:RetainedEarningsAccumulatedLosses c:PriorPeriodIncreaseDecrease 2021-12-01 2022-11-30 05280184 c:RetainedEarningsAccumulatedLosses 2021-12-01 05280184 c:RetainedEarningsAccumulatedLosses 1 2021-12-01 2022-11-30 05280184 e:FRS102 2022-12-01 2023-11-30 05280184 e:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 05280184 e:FullAccounts 2022-12-01 2023-11-30 05280184 e:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05280184 c:Subsidiary1 2022-12-01 2023-11-30 05280184 c:Subsidiary1 1 2022-12-01 2023-11-30 05280184 c:Subsidiary2 2022-12-01 2023-11-30 05280184 c:Subsidiary2 1 2022-12-01 2023-11-30 05280184 c:Subsidiary3 2022-12-01 2023-11-30 05280184 c:Subsidiary3 1 2022-12-01 2023-11-30 05280184 c:Subsidiary4 2022-12-01 2023-11-30 05280184 c:Subsidiary4 1 2022-12-01 2023-11-30 05280184 c:Subsidiary5 2022-12-01 2023-11-30 05280184 c:Subsidiary5 1 2022-12-01 2023-11-30 05280184 2 2022-12-01 2023-11-30 05280184 6 2022-12-01 2023-11-30 05280184 f:PoundSterling 2022-12-01 2023-11-30 05280184 c:ShareCapital c:PriorPeriodErrorIncreaseDecrease 2021-12-01 2022-11-30 iso4217:GBP xbrli:pure

Registered number: 05280184









PRINCIPLE CAPITAL LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
PRINCIPLE CAPITAL LTD
REGISTERED NUMBER: 05280184

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022 (As restated)
Note
£
£

Fixed assets
  

Investments
 4 
1,488,038
1,204,349

  
1,488,038
1,204,349

Current assets
  

Debtors: amounts falling due within one year
 5 
1,264,764
760,349

Cash at bank and in hand
  
161,169
271,480

  
1,425,933
1,031,829

Creditors: amounts falling due within one year
 6 
(388,223)
(260,173)

Net current assets
  
 
 
1,037,710
 
 
771,656

Total assets less current liabilities
  
2,525,748
1,976,005

Creditors: amounts falling due after more than one year
 7 
(35,774)
(1,149)

  

Net assets
  
2,489,974
1,974,856


Capital and reserves
  

Called up share capital 
  
2
2

Other reserves
 8 
1,346,493
1,062,804

Profit and loss account
 8 
1,143,479
912,050

  
2,489,974
1,974,856


Page 1

 
PRINCIPLE CAPITAL LTD
REGISTERED NUMBER: 05280184
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2023

The director considers 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 director acknowledges his 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 22 August 2024.


R A Stitcher
Director

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 

 
PRINCIPLE CAPITAL LTD


 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2023



Called up share capital
Other reserves
Profit and loss account
Total equity


£
£
£
£



At 1 December 2021 (as previously stated)
2
-
672,051
672,053


Prior year adjustment
-
1,558,077
-
1,558,077



At 1 December 2021 (as restated)
2
1,558,077
672,051
2,230,130





Profit for the year

-
-
419,665
419,665


Loss on revaluation of investments
-
(495,273)
-
(495,273)


Dividends: Equity capital
-
-
(179,666)
(179,666)





At 1 December 2022
2
1,062,804
912,050
1,974,856





Profit for the year

-
-
255,429
255,429


Gain on revaluation of investments
-
283,689
-
283,689


Dividends: Equity capital
-
-
(24,000)
(24,000)



At 30 November 2023
2
1,346,493
1,143,479
2,489,974

The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
PRINCIPLE CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Principle Capital Ltd is a private company limited by shares and registered in England & Wales. The address of its registered office is 38 Cromwell Road, Luton, LU3 1DN.

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 is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

The following principal accounting policies have been applied:

 
2.2

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.

 
2.3

Interest income

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

 
2.4

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 reporting date in the countries where the company operates and generates income.

Page 4

 
PRINCIPLE CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Investments

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Debtors

Short term debtors are measured at transaction price, 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.

 
2.8

Creditors

Short term creditors are measured at the transaction price. 

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 December 2022
1,204,349


Revaluations
283,689



At 30 November 2023
1,488,038




Page 5

 
PRINCIPLE CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Class of shares

Holding

Optikinetics Limited
Ordinary
100%
Opti-Lighting Limited
Ordinary
92.5%
Kelsey Acoustics Limited
Ordinary
90%
LBA Fabrication Limited
Ordinary
90%
Bripat Engineering Limited
Ordinary
100%

The carrying value of the investments and the aggregate of the share capital and reserves as at 30 November 2023 and the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)
£
£

Optikinetics Limited
501,333
42,170

Opti-Lighting Limited
444,722
228,900

Kelsey Acoustics Limited
49,627
32,168

LBA Fabrication Limited
25,295
(860)

Bripat Engineering Limited*
79,067
1,961

*Bripat Engineering Limited as at 31 December 2023.


5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
816,236
518,188

Other debtors
248,528
241,959

Prepayments and accrued income
200,000
202

1,264,764
760,349


Page 6

 
PRINCIPLE CAPITAL LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
350,097
152,745

Corporation tax
1,273
-

Other creditors
36,003
106,628

Accruals and deferred income
850
800

388,223
260,173



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
35,774
1,149

35,774
1,149



8.


Reserves

Other reserves

Other reserves relates to the accumulated gains and losses from the remeasurement of investments in subsidaries. 


9.


Prior year adjustment

Comparatives have been restated due to a change in accounting policy for investments in subsidaries. They were previosuly measured at cost less impairment and have now been retrospectively adjusted to be measured at market value at the year end.


10.


Related party transactions

At the reporting date £Nil (2022: £600) was due to Little Media Consulting Ltd, a company under common control.
At the reporting date £71,774 (2022: £106,632) was owed to the director of the company. Interest of £nil
(2022: £nil) was charged on this balance.
The company is exempt from disclosing other related party transactions as they are with companies that
are wholly owed within the group.

 
Page 7