Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30falsetrue12022-12-01No description of principal activity1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 12315783 2022-12-01 2023-11-30 12315783 2021-12-01 2022-11-30 12315783 2023-11-30 12315783 2022-11-30 12315783 c:Director1 2022-12-01 2023-11-30 12315783 d:OfficeEquipment 2022-12-01 2023-11-30 12315783 d:OfficeEquipment 2023-11-30 12315783 d:OfficeEquipment 2022-11-30 12315783 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 12315783 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 12315783 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 12315783 d:ShareCapital 2023-11-30 12315783 d:ShareCapital 2022-11-30 12315783 d:RetainedEarningsAccumulatedLosses 2023-11-30 12315783 d:RetainedEarningsAccumulatedLosses 2022-11-30 12315783 c:OrdinaryShareClass1 2022-12-01 2023-11-30 12315783 c:OrdinaryShareClass1 2023-11-30 12315783 c:OrdinaryShareClass1 2022-11-30 12315783 c:FRS102 2022-12-01 2023-11-30 12315783 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 12315783 c:AbridgedAccounts 2022-12-01 2023-11-30 12315783 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 12315783 d:IncreaseDecreaseDueToTransitionFromPreviousStandard 2022-11-30 12315783 d:IncreaseDecreaseDueToTransitionFromPreviousStandard 2021-12-01 2022-11-30 12315783 2 2022-12-01 2023-11-30 12315783 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 12315783









ACL TRADING LTD








FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
ACL TRADING LTD
REGISTERED NUMBER: 12315783

BALANCE SHEET
AS AT 30 NOVEMBER 2023

As restated
2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,977
9,450

  
6,977
9,450

Current assets
  

Debtors
  
8,144
6,906

Cash at bank and in hand
  
1,329,069
813,785

  
1,337,213
820,691

Creditors: amounts falling due within one year
  
(209,345)
(177,513)

Net current assets
  
 
 
1,127,868
 
 
643,178

Total assets less current liabilities
  
1,134,845
652,628

Provisions for liabilities
  
(1,744)
(1,796)

Net assets
  
1,133,101
650,832

Page 1

 
ACL TRADING LTD
REGISTERED NUMBER: 12315783
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

As restated
2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
 5 
100
100

Profit and loss account
  
1,133,001
650,732

  
1,133,101
650,832


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 profit and loss account 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 29 August 2024.




A. G. Crawley
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ACL TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

ACL Trading Ltd is a private company, limited by shares, registered in England and Wales, registration number 12315783. The registered office is Unit 6, Wheatley Business Centre, Old London Road, Wheatley, Oxford, OX33 1XW and principal place of business is Berrybushes Farm, Lanleybury, Kings Langley WD4 8RL.

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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

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. 

 
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 3

 
ACL TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

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. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
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:

Office equipment
-
25%

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

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

 
ACL TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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.

 
2.11

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.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

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 1 (2022 - 1).

Page 5

 
ACL TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 December 2022
10,893



At 30 November 2023

10,893



Depreciation


At 1 December 2022
1,443


Charge for the year on owned assets
2,473



At 30 November 2023

3,916



Net book value



At 30 November 2023
6,977



At 30 November 2022
9,450


5.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



6.


Prior year adjustment

The prior year adjustment relates to the provision of deferred tax on transition to FRS 102. The effect of transition is detailed in note 8 First time adoption of FRS 102 .


7.


First time adoption of FRS 102

The Company transitioned to FRS 102 from previously extant UK GAAP as at 1 December 2021. The impact of the transition to FRS 102 is as follows:

Reconciliation of equity at 1 December 2021

Note
        £
Equity at 1 December 2021 under previous UK GAAP

  
282,973

Page 6

 
ACL TRADING LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

           7.First time adoption of FRS 102 (continued)

Equity shareholders funds at 1 December 2021 under FRS 102

  
 
282,973



Reconciliation of equity at 30 November 2022

Note
        £
Equity at 30 November 2022 under previous UK GAAP

  
652,628

Provision for deferred tax

  
(1,796)

Equity shareholders funds at 30 November 2022 under FRS 102

  
 
650,832


Reconciliation of profit and loss account for the year ended 30 November 2022

        £
Profit for the year under previous UK GAAP

  
379,655

Provision for deferred tax

  
(1,796)

Profit for the year ended 30 November 2022 under FRS 102

  
 
377,859


The following were changes in accounting policies arising from the transition to FRS 102:

1

On transition to FRS 102, provision is made for deferred tax liabilities in respect of timing differences. Further policy details are provided in note 2.6.

 
Page 7