Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-3112022-09-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12163417 2022-09-01 2023-08-31 12163417 2021-09-01 2022-08-31 12163417 2023-08-31 12163417 2022-08-31 12163417 c:Director1 2022-09-01 2023-08-31 12163417 d:MotorVehicles 2022-09-01 2023-08-31 12163417 d:MotorVehicles 2023-08-31 12163417 d:MotorVehicles 2022-08-31 12163417 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12163417 d:OfficeEquipment 2022-09-01 2023-08-31 12163417 d:OfficeEquipment 2023-08-31 12163417 d:OfficeEquipment 2022-08-31 12163417 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12163417 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 12163417 d:CurrentFinancialInstruments 2023-08-31 12163417 d:CurrentFinancialInstruments 2022-08-31 12163417 d:Non-currentFinancialInstruments 2023-08-31 12163417 d:Non-currentFinancialInstruments 2022-08-31 12163417 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 12163417 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 12163417 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 12163417 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 12163417 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-08-31 12163417 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-08-31 12163417 d:ShareCapital 2023-08-31 12163417 d:ShareCapital 2022-08-31 12163417 d:RetainedEarningsAccumulatedLosses 2023-08-31 12163417 d:RetainedEarningsAccumulatedLosses 2022-08-31 12163417 c:FRS102 2022-09-01 2023-08-31 12163417 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 12163417 c:FullAccounts 2022-09-01 2023-08-31 12163417 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 12163417 d:HirePurchaseContracts d:WithinOneYear 2023-08-31 12163417 d:HirePurchaseContracts d:WithinOneYear 2022-08-31 12163417 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-08-31 12163417 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-08-31 12163417 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 12163417









JUST1SEAT LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
JUST1SEAT LTD
 

CONTENTS



Page
Balance Sheet
1 - 2
Notes to the Financial Statements
3 - 8


 
JUST1SEAT LTD
REGISTERED NUMBER: 12163417

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
13,517
18,103

  
13,517
18,103

Current assets
  

Stocks
  
42,500
11,361

Debtors: amounts falling due within one year
 5 
11,463
4,334

Cash at bank and in hand
 6 
3
23,653

  
53,966
39,348

Creditors: amounts falling due within one year
 7 
(127,754)
(76,635)

Net current liabilities
  
 
 
(73,788)
 
 
(37,287)

Total assets less current liabilities
  
(60,271)
(19,184)

Creditors: amounts falling due after more than one year
 8 
(32,523)
(39,226)

  

Net liabilities
  
(92,794)
(58,410)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(92,795)
(58,411)

  
(92,794)
(58,410)


Page 1

 
JUST1SEAT LTD
REGISTERED NUMBER: 12163417
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 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 by: 




................................................
J Saunders
Director

Date: 29 August 2024

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

Page 2

 
JUST1SEAT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

JUST1SEAT Ltd is a private company limited by shares. The Company is incorporated in England & Wales and its registered address is 3 Overstand Close Beckenham Kent BR3 3JY. The registered company number is 12163417. 

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

Going concern

The director considers it appropriate to prepare the financial statements on a going concern basis. 
The company continues to pay its debts as they fall due and retains the support of the director and sole shareholder..

 
2.3

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.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 3

 
JUST1SEAT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
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.

 
2.6

Borrowing costs

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

 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Reducing Balance
Office equipment
-
25%
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.

 
2.8

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 balance sheet 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.

 
2.9

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.

Page 4

 
JUST1SEAT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

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.

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.


3.


Employees

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

Page 5

 
JUST1SEAT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 September 2022
16,750
1,942
18,692



At 31 August 2023

16,750
1,942
18,692



Depreciation


At 1 September 2022
349
240
589


Charge for the year on owned assets
4,100
486
4,586



At 31 August 2023

4,449
726
5,175



Net book value



At 31 August 2023
12,301
1,216
13,517



At 31 August 2022
16,401
1,702
18,103

Page 6

 
JUST1SEAT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Other debtors
11,463
4,334

11,463
4,334



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3
23,653

3
23,653



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
8,000
8,000

Trade creditors
1,186
-

Obligations under finance lease and hire purchase contracts
3,015
3,015

Other creditors
114,553
64,620

Accruals and deferred income
1,000
1,000

127,754
76,635



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,832
27,166

Net obligations under finance leases and hire purchase contracts
8,691
12,060

32,523
39,226


Page 7

 
JUST1SEAT LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
8,000
8,000


8,000
8,000

Amounts falling due after more than 5 years

Bank loans
23,832
27,166

23,832
27,166

31,832
35,166



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
3,015
3,015

Between 1-5 years
8,691
12,060

11,706
15,075

 
Page 8