Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30No description of principal activity43The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrue2022-12-01false42false 08203824 2022-12-01 2023-11-30 08203824 2021-12-01 2022-11-30 08203824 2023-11-30 08203824 2022-11-30 08203824 c:Director1 2022-12-01 2023-11-30 08203824 c:Director2 2022-12-01 2023-11-30 08203824 c:RegisteredOffice 2022-12-01 2023-11-30 08203824 d:Buildings 2022-12-01 2023-11-30 08203824 d:Buildings 2023-11-30 08203824 d:Buildings 2022-11-30 08203824 d:Buildings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08203824 d:Buildings d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 08203824 d:PlantMachinery 2022-12-01 2023-11-30 08203824 d:PlantMachinery 2023-11-30 08203824 d:PlantMachinery 2022-11-30 08203824 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08203824 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 08203824 d:FurnitureFittings 2022-12-01 2023-11-30 08203824 d:FurnitureFittings 2023-11-30 08203824 d:FurnitureFittings 2022-11-30 08203824 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08203824 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 08203824 d:OfficeEquipment 2022-12-01 2023-11-30 08203824 d:OfficeEquipment 2023-11-30 08203824 d:OfficeEquipment 2022-11-30 08203824 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08203824 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 08203824 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 08203824 d:LeasedAssetsHeldAsLessee 2022-12-01 2023-11-30 08203824 d:CurrentFinancialInstruments 2023-11-30 08203824 d:CurrentFinancialInstruments 2022-11-30 08203824 d:Non-currentFinancialInstruments 2023-11-30 08203824 d:Non-currentFinancialInstruments 2022-11-30 08203824 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 08203824 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 08203824 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 08203824 d:Non-currentFinancialInstruments d:AfterOneYear 2022-11-30 08203824 d:ShareCapital 2023-11-30 08203824 d:ShareCapital 2022-11-30 08203824 d:RetainedEarningsAccumulatedLosses 2023-11-30 08203824 d:RetainedEarningsAccumulatedLosses 2022-11-30 08203824 c:FRS102 2022-12-01 2023-11-30 08203824 c:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 08203824 c:FullAccounts 2022-12-01 2023-11-30 08203824 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 08203824 d:HirePurchaseContracts d:WithinOneYear 2023-11-30 08203824 d:HirePurchaseContracts d:WithinOneYear 2022-11-30 08203824 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-11-30 08203824 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-11-30 08203824 2 2022-12-01 2023-11-30 08203824 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-11-30 08203824 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-11-30 08203824 d:LeasedAssetsHeldAsLessee 2023-11-30 08203824 d:LeasedAssetsHeldAsLessee 2022-11-30 08203824 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 08203824










617 LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
617 LIMITED
 
 
COMPANY INFORMATION


Directors
R Fielding 
G Lennox 




Registered number
08203824



Registered office
The Inn at Woodhall Spa
The Broadway

Woodhall Spa

Lincolnshire

LN10 6ST




Accountants
P M & G Limited
Chartered Accountants

Mainwood Farm

Kneesall

Newark

Nottinghamshire

NG22 0AH





 
617 LIMITED
 

CONTENTS



Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 9


 
617 LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF 617 LIMITED
FOR THE YEAR ENDED 30 NOVEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 617 Limited for the year ended 30 November 2023 which comprise  the Statement of financial position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of 617 Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of 617 Limited and state those matters that we have agreed to state to the Board of directors of 617 Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 617 Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that 617 Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 617 Limited. You consider that 617 Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of 617 Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



P M & G Limited
Chartered Accountants
Newark
23 August 2024
Page 1

 
617 LIMITED
REGISTERED NUMBER: 08203824

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,837,170
1,869,904

  
1,837,170
1,869,904

Current assets
  

Stocks
  
18,833
17,929

Debtors: amounts falling due within one year
 5 
57,491
21,955

Cash at bank and in hand
 6 
163,716
146,349

  
240,040
186,233

Creditors: amounts falling due within one year
 7 
(135,924)
(142,091)

Net current assets
  
 
 
104,116
 
 
44,142

Total assets less current liabilities
  
1,941,286
1,914,046

Creditors: amounts falling due after more than one year
 8 
(2,326,876)
(2,331,162)

  

Net liabilities
  
(385,590)
(417,116)


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
(385,594)
(417,120)

  
(385,590)
(417,116)


Page 2

 
617 LIMITED
REGISTERED NUMBER: 08203824
    
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 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 23 August 2024.




R Fielding
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 3

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

1.


General information

617 Limited is a private company limited by shares and registered in England and Wales.  The company's registered number and office address are detailed on the company information page.

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

Revenue

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

Sale of goods

Revenue 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 revenue 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.

Rendering of services

Revenue 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 revenue 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

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.

Page 4

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

2.Accounting policies (continued)

 
2.4

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.5

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 Statement of income and retained earnings in the same period as the related expenditure.

 
2.6

Interest income

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 5

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

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
100 years
Plant and machinery
-
15% reducing balance
Furniture and fittings
-
15% reducing balance
Office equipment
-
15% reducing balance

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 42 (2022 -43).

Page 6

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

4.


Tangible fixed assets





Freehold property
Plant and machinery
Furniture and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 December 2022
1,938,292
77,930
216,749
47,160
2,280,131


Additions
-
4,140
-
-
4,140



At 30 November 2023

1,938,292
82,070
216,749
47,160
2,284,271



Depreciation


At 1 December 2022
183,272
38,031
152,267
36,657
410,227


Charge for the year on owned assets
19,383
4,905
9,672
1,575
35,535


Charge for the year on financed assets
-
1,339
-
-
1,339



At 30 November 2023

202,655
44,275
161,939
38,232
447,101



Net book value



At 30 November 2023
1,735,637
37,795
54,810
8,928
1,837,170



At 30 November 2022
1,755,020
39,899
64,482
10,503
1,869,904

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
7,590
8,930

7,590
8,930

Page 7

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

5.


Debtors

2023
2022
£
£


Trade debtors
23,084
18,592

Prepayments and accrued income
34,407
3,363

57,491
21,955



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
163,716
146,349

163,716
146,349



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
81,656
69,735

Other taxation and social security
34,359
39,944

Obligations under finance lease and hire purchase contracts
4,286
5,715

Other creditors
2,043
1,605

Accruals and deferred income
13,580
25,092

135,924
142,091



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
-
4,286

Other creditors
2,326,876
2,326,876

2,326,876
2,331,162


Page 8

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

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
4,286
-

Between 1-5 years
-
10,001


10.


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 £10,032 (2022 - £9,201). Contributions totalling £876 (2022 - £688) were payable to the fund at the reporting date and are included in creditors.


11.


Related party transactions

The following details relate to companies in which the directors (and/or their spouses) have a shareholding in and are directors:


2023
2022
£
£

Pre-Eminent Solutions LLP:
- Supply of accountancy services
37,600
36,000
- Recharged expenses
675
336
- Creditor
-
3,600
-
-

Creditors due after more than one year relate to interest free loans provided by the directors, Mr Fielding and Mr Lennox.  They do not propose to demand the repayment of the loans within the next 12 months.

 
Page 9