Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31false32022-09-01No description of principal activity3falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08467533 2022-09-01 2023-08-31 08467533 2021-09-01 2022-08-31 08467533 2023-08-31 08467533 2022-08-31 08467533 c:Director1 2022-09-01 2023-08-31 08467533 d:Buildings d:LongLeaseholdAssets 2022-09-01 2023-08-31 08467533 d:Buildings d:LongLeaseholdAssets 2023-08-31 08467533 d:Buildings d:LongLeaseholdAssets 2022-08-31 08467533 d:LandBuildings 2023-08-31 08467533 d:LandBuildings 2022-08-31 08467533 d:FurnitureFittings 2022-09-01 2023-08-31 08467533 d:FurnitureFittings 2023-08-31 08467533 d:FurnitureFittings 2022-08-31 08467533 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08467533 d:ComputerEquipment 2022-09-01 2023-08-31 08467533 d:ComputerEquipment 2023-08-31 08467533 d:ComputerEquipment 2022-08-31 08467533 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08467533 d:OwnedOrFreeholdAssets 2022-09-01 2023-08-31 08467533 d:CurrentFinancialInstruments 2023-08-31 08467533 d:CurrentFinancialInstruments 2022-08-31 08467533 d:Non-currentFinancialInstruments 2023-08-31 08467533 d:Non-currentFinancialInstruments 2022-08-31 08467533 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 08467533 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 08467533 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 08467533 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 08467533 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-08-31 08467533 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-08-31 08467533 d:ShareCapital 2023-08-31 08467533 d:ShareCapital 2022-08-31 08467533 d:RetainedEarningsAccumulatedLosses 2023-08-31 08467533 d:RetainedEarningsAccumulatedLosses 2022-08-31 08467533 c:EntityHasNeverTraded 2022-09-01 2023-08-31 08467533 c:FRS102 2022-09-01 2023-08-31 08467533 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 08467533 c:FullAccounts 2022-09-01 2023-08-31 08467533 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 08467533 2 2022-09-01 2023-08-31 08467533 6 2022-09-01 2023-08-31 08467533 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 08467533









EDUSTAFF HOLDINGS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
EDUSTAFF HOLDINGS LIMITED
REGISTERED NUMBER: 08467533

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
17,300
27,624

Investments
 5 
256,286
256,286

  
273,586
283,910

Current assets
  

Debtors: amounts falling due after more than one year
 6 
51,055
-

Debtors: amounts falling due within one year
 6 
161,182
562

Cash at bank and in hand
 7 
1,461
3,329

  
213,698
3,891

Creditors: amounts falling due within one year
 8 
(283,030)
(100,572)

Net current liabilities
  
 
 
(69,332)
 
 
(96,681)

Total assets less current liabilities
  
204,254
187,229

Creditors: amounts falling due after more than one year
 9 
(69,080)
-

Provisions for liabilities
  

Deferred tax
  
(4,159)
(4,159)

  
 
 
(4,159)
 
 
(4,159)

Net assets
  
131,015
183,070


Capital and reserves
  

Called up share capital 
  
1,930
1,930

Profit and loss account
  
129,085
181,140

  
131,015
183,070


Page 1

 
EDUSTAFF HOLDINGS LIMITED
REGISTERED NUMBER: 08467533
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 28 August 2024.




D C Cobb
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

EduStaff Holdings Limited is a private company, limited by shares and incorporated in England and Wales, with a registration number 08467533. The registered office is 6th Floor, 4 Cam Road, Stratford, London, E15 2SN. The principal activity of the company is that of a holding company.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.

The following principal accounting policies have been applied:

 
2.2

Interest income

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

 
2.3

Borrowing costs

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

 
2.4

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.

 
2.5

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 3

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

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:

Long-term leasehold property
-
10%
straight line
Fixtures and fittings
-
25%
straight line
Computer 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.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

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.
Page 4

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)


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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

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 5

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.10
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.

 
2.11

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 the directors, during the year was as follows:


        2023
        2022
            No.
            No.







No. of employees
3
3

Page 6

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 September 2022
99,269
163,321
78,398
340,988


Disposals
-
(131,295)
-
(131,295)



At 31 August 2023

99,269
32,026
78,398
209,693



Depreciation


At 1 September 2022
72,042
163,249
78,073
313,364


Charge for the year on owned assets
9,927
72
325
10,324


Disposals
-
(131,295)
-
(131,295)



At 31 August 2023

81,969
32,026
78,398
192,393



Net book value



At 31 August 2023
17,300
-
-
17,300



At 31 August 2022
27,227
72
325
27,624




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
17,300
27,227

17,300
27,227


Page 7

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 September 2022
256,286



At 31 August 2023
256,286





6.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
51,055
-

51,055
-


2023
2022
£
£

Due within one year

Amounts owed by group undertakings
9,345
-

Other debtors
151,837
562

161,182
562



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,461
3,329

1,461
3,329


Page 8

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
179,528
-

Trade creditors
5,948
-

Amounts owed to group undertakings
-
91,807

Amounts owed to related parties
45,001
-

Corporation tax
52,553
-

Other creditors
-
8,765

283,030
100,572



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
69,080
-

69,080
-



10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
179,528
-


179,528
-

Amounts falling due 1-2 years

Bank loans
69,080
-


69,080
-



248,608
-


Page 9

 
EDUSTAFF HOLDINGS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

11.


Controlling party

The ultimate parent company is EduStaff Group Limited, a company incorporated in England and Wales.
The ultimate controlling party is D C Cobb by virtue of his majority shareholding in the ultimate parent company.

 
Page 10