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.false 02971147 2022-12-01 2023-11-30 02971147 2021-12-01 2022-11-30 02971147 2023-11-30 02971147 2022-11-30 02971147 c:Director1 2022-12-01 2023-11-30 02971147 c:Director2 2022-12-01 2023-11-30 02971147 d:CurrentFinancialInstruments 2023-11-30 02971147 d:CurrentFinancialInstruments 2022-11-30 02971147 d:Non-currentFinancialInstruments 2023-11-30 02971147 d:Non-currentFinancialInstruments 2022-11-30 02971147 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 02971147 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 02971147 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 02971147 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 02971147 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-11-30 02971147 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-11-30 02971147 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-11-30 02971147 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-11-30 02971147 d:ShareCapital 2023-11-30 02971147 d:ShareCapital 2022-11-30 02971147 d:RetainedEarningsAccumulatedLosses 2023-11-30 02971147 d:RetainedEarningsAccumulatedLosses 2022-11-30 02971147 c:FRS102 2022-12-01 2023-11-30 02971147 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 02971147 c:FullAccounts 2022-12-01 2023-11-30 02971147 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02971147 2 2022-12-01 2023-11-30 02971147 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 02971147










MODELS DIRECT (UK) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
MODELS DIRECT (UK) LIMITED
REGISTERED NUMBER:02971147

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due after more than one year
 4 
107,465
125,086

Cash at bank and in hand
  
200
5,230

  
107,665
130,316

Creditors: amounts falling due within one year
 5 
(29,951)
(19,649)

Net current assets
  
 
 
77,714
 
 
110,667

Total assets less current liabilities
  
77,714
110,667

Creditors: amounts falling due after more than one year
 6 
(28,138)
(28,333)

  

Net assets
  
49,576
82,334


Capital and reserves
  

Called up share capital 
  
45,144
45,144

Profit and loss account
  
4,432
37,190

  
49,576
82,334


Page 1

 
MODELS DIRECT (UK) LIMITED
REGISTERED NUMBER:02971147
    
STATEMENT OF FINANCIAL POSITION (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 income statement 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 21 August 2024.




................................................
D O'Connor
................................................
S O'Connor
Director
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
MODELS DIRECT (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Models Direct (UK) Limited is a private company limited by shares and incorporated in England and Wales, registration number 02971147. The registered office is 232 Fakenham Road, Taverham, Norwich, NR8 6QW

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 financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
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:

Rendering of services

Turnover 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 turnover 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.

 
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

 
MODELS DIRECT (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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.

 
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

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 (2022 - 2).

Page 4

 
MODELS DIRECT (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Debtors

2023
2022
£
£

Due after more than one year

Amounts owed by group undertakings
107,465
125,086

107,465
125,086



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
17,414
5,742

Accruals and deferred income
2,537
3,907

29,951
19,649



6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
18,332
28,333

Amounts owed to group undertakings
9,806
-

28,138
28,333


Page 5

 
MODELS DIRECT (UK) LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

7.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
8,332
18,333


8,332
18,333


28,332
38,333


 
Page 6