Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30falsefalsefalse26true2022-12-01No description of principal activity23The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05457989 2023-11-30 05457989 2022-12-01 2023-11-30 05457989 2021-12-01 2022-11-30 05457989 2022-11-30 05457989 1 2022-12-01 2023-11-30 05457989 d:Director3 2022-12-01 2023-11-30 05457989 c:Buildings c:LongLeaseholdAssets 2022-12-01 2023-11-30 05457989 c:Buildings c:LongLeaseholdAssets 2023-11-30 05457989 c:Buildings c:LongLeaseholdAssets 2022-11-30 05457989 c:MotorVehicles 2022-12-01 2023-11-30 05457989 c:MotorVehicles 2023-11-30 05457989 c:MotorVehicles 2022-11-30 05457989 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05457989 c:FurnitureFittings 2022-12-01 2023-11-30 05457989 c:FurnitureFittings 2023-11-30 05457989 c:FurnitureFittings 2022-11-30 05457989 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05457989 c:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 05457989 c:PatentsTrademarksLicencesConcessionsSimilar 2022-12-01 2023-11-30 05457989 c:PatentsTrademarksLicencesConcessionsSimilar 2023-11-30 05457989 c:PatentsTrademarksLicencesConcessionsSimilar 2022-11-30 05457989 c:CurrentFinancialInstruments 2023-11-30 05457989 c:CurrentFinancialInstruments 2022-11-30 05457989 c:CurrentFinancialInstruments c:WithinOneYear 2023-11-30 05457989 c:CurrentFinancialInstruments c:WithinOneYear 2022-11-30 05457989 c:ShareCapital 2023-11-30 05457989 c:ShareCapital 2022-11-30 05457989 c:SharePremium 2023-11-30 05457989 c:SharePremium 2022-11-30 05457989 c:CapitalRedemptionReserve 2023-11-30 05457989 c:CapitalRedemptionReserve 2022-11-30 05457989 c:RetainedEarningsAccumulatedLosses 2023-11-30 05457989 c:RetainedEarningsAccumulatedLosses 2022-11-30 05457989 c:AcceleratedTaxDepreciationDeferredTax 2023-11-30 05457989 c:AcceleratedTaxDepreciationDeferredTax 2022-11-30 05457989 c:OtherDeferredTax 2023-11-30 05457989 c:OtherDeferredTax 2022-11-30 05457989 d:OrdinaryShareClass1 2022-12-01 2023-11-30 05457989 d:OrdinaryShareClass1 2023-11-30 05457989 d:OrdinaryShareClass1 2022-11-30 05457989 d:OrdinaryShareClass2 2022-12-01 2023-11-30 05457989 d:OrdinaryShareClass2 2023-11-30 05457989 d:OrdinaryShareClass2 2022-11-30 05457989 d:OrdinaryShareClass3 2022-12-01 2023-11-30 05457989 d:OrdinaryShareClass3 2023-11-30 05457989 d:OrdinaryShareClass3 2022-11-30 05457989 d:FRS102 2022-12-01 2023-11-30 05457989 d:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 05457989 d:FullAccounts 2022-12-01 2023-11-30 05457989 d:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 05457989 c:WithinOneYear 2023-11-30 05457989 c:WithinOneYear 2022-11-30 05457989 c:BetweenOneFiveYears 2023-11-30 05457989 c:BetweenOneFiveYears 2022-11-30 05457989 c:PatentsTrademarksLicencesConcessionsSimilar c:ExternallyAcquiredIntangibleAssets 2022-12-01 2023-11-30 05457989 2 2022-12-01 2023-11-30 05457989 c:PatentsTrademarksLicencesConcessionsSimilar c:OwnedIntangibleAssets 2022-12-01 2023-11-30 05457989 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 05457989










SMART NUMBERS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
SMART NUMBERS LIMITED
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SMART NUMBERS 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 Smart Numbers Limited for the year ended 30 November 2023 which comprise  the Balance Sheet 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 Smart Numbers 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 Smart Numbers Limited and state those matters that we have agreed to state to the Board of Directors of Smart Numbers 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 Smart Numbers Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Smart Numbers 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 Smart Numbers Limited. You consider that Smart Numbers 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 Smart Numbers 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.

  



James Cowper Kreston
 
Chartered Accountants
2 Chawley Park
Cumnor Hill
Oxford
Oxfordshire
OX2 9GG
24 August 2024
Page 1

 
SMART NUMBERS LIMITED
REGISTERED NUMBER: 05457989

BALANCE SHEET
AS AT 30 NOVEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
151,872
-

Tangible assets
 5 
199,178
233,312

  
351,050
233,312

Current assets
  

Debtors: amounts falling due within one year
 6 
787,491
781,215

Cash at bank and in hand
  
2,295,120
391,855

  
3,082,611
1,173,070

Current liability
  

Creditors: amounts falling due within one year
 7 
(1,061,182)
(237,071)

Net current assets
  
 
 
2,021,429
 
 
935,999

Total assets less current liabilities
  
2,372,479
1,169,311

Provisions for liabilities
  

Deferred tax
 8 
(28,260)
(26,482)

  
 
 
(28,260)
 
 
(26,482)

Net assets
  
2,344,219
1,142,829


Capital and reserves
  

Called up share capital 
 9 
3
3

Share premium account
  
5,400
5,400

Capital redemption reserve
  
101
101

Profit and loss account
  
2,338,715
1,137,325

  
2,344,219
1,142,829

Page 2

 
SMART NUMBERS LIMITED
REGISTERED NUMBER: 05457989

BALANCE SHEET (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 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 by: 




T D R Hutchings
Director

Date: 23 August 2024

The notes on pages 4 to 13 form part of these financial statements.
Page 3

 
SMART NUMBERS LIMITED
 

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

1.


General information

The company is a private company limited by share capital, incorporated in England and Wales. The address of its registered office is 1 & 2 The Exchange Beaulieu Road, Dibden Purlieu, Southampton, England, SO45 4PX

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:

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.

 
2.4

Interest income

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

 
2.5

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 4

 
SMART NUMBERS LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

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.

 
2.8

Intangible assets

The purchased customer list is recognised as an intangible asset at its acquisition cost. The asset is initially measured at cost, which includes the purchase price and any directly attributable costs necessary to bring the asset to its intended use.
The customer list is amortised on a straight line basis over its estimated useful life, which is determined based on the expected period over which economic benefits from the customer list will be realised. The useful life is reviewed annually and adjusted if necessary.

 The estimated useful lives range as follows:

Customer list
-
5
years

Page 5

 
SMART NUMBERS LIMITED
 

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

2.Accounting policies (continued)

 
2.9

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 basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
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.

 
2.10

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  loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

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.

 
2.14

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.

Page 6

 
SMART NUMBERS LIMITED
 

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

2.Accounting policies (continued)


2.14
Financial instruments (continued)

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 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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments
Page 7

 
SMART NUMBERS LIMITED
 

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

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.15

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 26 (2022 - 23).

Page 8

 
SMART NUMBERS LIMITED
 

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

4.


Intangible assets




Customer list

£



Cost


Additions
182,246



At 30 November 2023

182,246



Amortisation


Charge for the year on owned assets
30,374



At 30 November 2023

30,374



Net book value



At 30 November 2023
151,872



At 30 November 2022
-



Page 9

 
SMART NUMBERS LIMITED
 

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

5.


Tangible fixed assets





Long-term leasehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 December 2022
120,383
263,979
70,357
454,719


Additions
-
59,995
4,346
64,341


Disposals
-
(43,000)
(3,472)
(46,472)



At 30 November 2023

120,383
280,974
71,231
472,588



Depreciation


At 1 December 2022
68,458
126,741
26,208
221,407


Charge for the year on owned assets
12,981
42,730
11,346
67,057


Disposals
-
(12,739)
(2,315)
(15,054)



At 30 November 2023

81,439
156,732
35,239
273,410



Net book value



At 30 November 2023
38,944
124,242
35,992
199,178



At 30 November 2022
51,925
137,238
44,149
233,312


6.


Debtors

As restated
2023
2022
£
£


Trade debtors
14,588
5,380

Other debtors
700,000
771,025

Prepayments and accrued income
72,903
4,810

787,491
781,215


Page 10

 
SMART NUMBERS LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
206,232
17,702

Corporation tax
447,194
115,271

Other taxation and social security
167,979
35,196

Other creditors
3,844
29,675

Accruals and deferred income
235,933
39,227

1,061,182
237,071



8.


Deferred taxation




2023


£






At beginning of year
(26,482)


Charged to profit or loss
(1,778)



At end of year
(28,260)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(28,756)
(26,482)

Short term timing differences
496
-

(28,260)
(26,482)

Page 11

 
SMART NUMBERS LIMITED
 

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

9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1 (2022 - 1) Ordinary A share of £1.00
1
1
1 (2022 - 1) Ordinary C share of £1.00
1
1
1 (2022 - 1) Ordinary D share of £1.00
1
1

3

3



10.


Prior year adjustment

A prior year adjustment has been made to correct the classification of a £700,000 debtor at the year ended 30 November 2022. The effect of this adjustment on the year ended 30 November 2022 is to increase other debtors by £700,000, and reduce cash at bank by £700,000. There is no impact on the profit and loss account at 30 November 2022 as a result of this adjustment.
A prior year adjustment has been made to correct a historical error in the value of share capital for the year ended 30 November 2022 and year ended 30 November 2023. The effect of this adjustment is to decrease share capital by £99, and increase the profit and loss account by £99.


11.


Commitments under operating leases

At 30 November 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
4,710
4,710

Later than 1 year and not later than 5 years
14,130
12,953

18,840
17,663


12.


Related party transactions

At 30 November 2023, Mrs C E Woolaway was owed £Nil (2022: £24,176) by the company in the form of a director's loan account. The loan is unsecured, repayable on demand and no interest is payable.
At 30 November 2023, Mr S Woolaway owed the company £700,000 (2022: £766,834) in the form of a director's loan account. The maximum amount owed by Mr S Woolaway to the company during the year was £766,834. The loan is unsecured, repayable on demand and interest is payable at market rate.


13.


Post balance sheet events

Subsequent to the year end, Smart Numbers Limited was acquired by Ensco 1525 Limited on 23 February 2024.

Page 12

 
SMART NUMBERS LIMITED
 

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

14.


Controlling party

During the year the controlling parties were the shareholders during the year.
As described in the post balance sheet events note (note 13), Smart Numbers Limited was acquired by Ensco 1525 Limited on 23 February 2024. From this date, the ultimate parent entity and controlling party is YFM Equity Partners LLP, incorporated in England and Wales.


Page 13