Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2023-05-01falseNo description of principal activity7669falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04112853 2023-05-01 2024-04-30 04112853 2022-05-01 2023-04-30 04112853 2024-04-30 04112853 2023-04-30 04112853 2022-05-01 04112853 c:Director1 2023-05-01 2024-04-30 04112853 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 04112853 d:Buildings d:LongLeaseholdAssets 2024-04-30 04112853 d:Buildings d:LongLeaseholdAssets 2023-04-30 04112853 d:FurnitureFittings 2023-05-01 2024-04-30 04112853 d:FurnitureFittings 2024-04-30 04112853 d:FurnitureFittings 2023-04-30 04112853 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04112853 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 04112853 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 04112853 d:CurrentFinancialInstruments 2024-04-30 04112853 d:CurrentFinancialInstruments 2023-04-30 04112853 d:CurrentFinancialInstruments 4 2024-04-30 04112853 d:CurrentFinancialInstruments 4 2023-04-30 04112853 d:Non-currentFinancialInstruments 2024-04-30 04112853 d:Non-currentFinancialInstruments 2023-04-30 04112853 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 04112853 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 04112853 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 04112853 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 04112853 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 04112853 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 04112853 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 04112853 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 04112853 d:ShareCapital 2024-04-30 04112853 d:ShareCapital 2023-04-30 04112853 d:RetainedEarningsAccumulatedLosses 2024-04-30 04112853 d:RetainedEarningsAccumulatedLosses 2023-04-30 04112853 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-05-01 2024-04-30 04112853 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-04-30 04112853 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-30 04112853 c:OrdinaryShareClass2 2023-05-01 2024-04-30 04112853 c:OrdinaryShareClass2 2024-04-30 04112853 c:OrdinaryShareClass3 2023-05-01 2024-04-30 04112853 c:OrdinaryShareClass3 2024-04-30 04112853 c:OrdinaryShareClass4 2023-05-01 2024-04-30 04112853 c:OrdinaryShareClass4 2024-04-30 04112853 c:FRS102 2023-05-01 2024-04-30 04112853 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 04112853 c:FullAccounts 2023-05-01 2024-04-30 04112853 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 04112853 d:WithinOneYear 2024-04-30 04112853 d:WithinOneYear 2023-04-30 04112853 d:BetweenOneFiveYears 2024-04-30 04112853 d:BetweenOneFiveYears 2023-04-30 04112853 d:MoreThanFiveYears 2024-04-30 04112853 d:MoreThanFiveYears 2023-04-30 04112853 2 2023-05-01 2024-04-30 04112853 6 2023-05-01 2024-04-30 04112853 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 04112853 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 04112853 d:Buildings d:LeasedAssetsHeldAsLessee 2024-04-30 04112853 d:Buildings d:LeasedAssetsHeldAsLessee 2023-04-30 04112853 d:LeasedAssetsHeldAsLessee 2024-04-30 04112853 d:LeasedAssetsHeldAsLessee 2023-04-30 04112853 d:EntityControlledByKeyManagementPersonnel3 2023-05-01 2024-04-30 04112853 d:EntityControlledByKeyManagementPersonnel3 2024-04-30 04112853 d:EntityControlledByKeyManagementPersonnel5 2023-05-01 2024-04-30 04112853 d:EntityControlledByKeyManagementPersonnel5 2024-04-30 04112853 d:EntityControlledByKeyManagementPersonnel1 2023-05-01 2024-04-30 04112853 d:EntityControlledByKeyManagementPersonnel1 2024-04-30 04112853 f:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04112853









GAS LOGIC LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
GAS LOGIC LIMITED
REGISTERED NUMBER: 04112853

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,133,951
1,078,493

  
1,133,951
1,078,493

Current assets
  

Debtors: amounts falling due after more than one year
 6 
40,938
40,181

Debtors: amounts falling due within one year
 6 
2,808,340
2,778,536

Cash at bank and in hand
 7 
409,769
462,282

  
3,259,047
3,280,999

Creditors: amounts falling due within one year
 8 
(3,228,220)
(3,224,402)

Net current assets
  
 
 
30,827
 
 
56,597

Total assets less current liabilities
  
1,164,778
1,135,090

Creditors: amounts falling due after more than one year
 9 
(321,700)
(375,933)

Provisions for liabilities
  

Deferred tax
 11 
(175,768)
(169,230)

Other provisions
 12 
(88,000)
(64,000)

  
 
 
(263,768)
 
 
(233,230)

Net assets
  
579,310
525,927


Capital and reserves
  

Called up share capital 
 13 
2,000
2,000

Profit and loss account
  
577,310
523,927

  
579,310
525,927


Page 1

 
GAS LOGIC LIMITED
REGISTERED NUMBER: 04112853
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

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 on 5 September 2024.




K J Budd
Director


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

Page 2

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Gas Logic Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Unit 7 Belvue Business Centre, Belvue Road, Northolt, Middlesex, England, UB5 5QQ.
The company specialises in training and assessment of engineers within the building services industry.

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 company is a parent undertaking of a small group and as such it is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

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.
Revenue in respect of training courses is recognised in the year the course is provided. 
Where revenue is directly linked to specific achievements, such as payments in respect of learner registration and assessment, this revenue is only recognised when the specific achievement is met. 

 
2.3

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

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.3
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
Other fixed assets
-
20% - 33% 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 the Statement of comprehensive income.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Debtors

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.

 
2.6

Creditors

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.

 
2.7

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.

 
2.8

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.

Page 4

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

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 years. The finance element of the rental payment is charged to the Statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each year.

 
2.10

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 the Statement of comprehensive income 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.

 
2.11

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.

 
2.12

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

 
2.13

Finance costs

Finance costs are charged to the Statement of comprehensive income 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 5

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.14

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 the Statement of comprehensive income.

 
2.15

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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 reporting 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 reporting 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 reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 76 (2023 - 69).

Page 6

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Long term leasehold property
Other fixed assets
Total

£
£
£



Cost 


At 1 May 2023
1,649,360
1,665,992
3,315,352


Additions
104,303
203,546
307,849


Disposals
-
(86,245)
(86,245)



At 30 April 2024

1,753,663
1,783,293
3,536,956



Depreciation


At 1 May 2023
820,099
1,416,760
2,236,859


Charge for the year
109,700
140,295
249,995


Disposals
-
(83,849)
(83,849)



At 30 April 2024

929,799
1,473,206
2,403,005



Net book value



At 30 April 2024
823,864
310,087
1,133,951



At 30 April 2023
829,261
249,232
1,078,493

Page 7

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

           4.Tangible fixed assets (continued)

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


2024
2023
£
£



Other fixed assets
125,751
104,491

125,751
104,491


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 May 2023
376,630



At 30 April 2024

376,630



Impairment


At 1 May 2023
376,630



At 30 April 2024

376,630



Net book value



At 30 April 2024
-



At 30 April 2023
-

Page 8

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
40,938
40,181

40,938
40,181


2024
2023
£
£

Due within one year

Trade debtors
1,036,729
1,120,128

Amounts owed by group undertakings
1,067,591
1,088,591

Other debtors
336,717
241,192

Prepayments and accrued income
367,303
328,625

2,808,340
2,778,536



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
409,769
462,282

409,769
462,282


Page 9

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
83,860
87,040

Trade creditors
497,796
579,468

Corporation tax
19,506
13,572

Other taxation and social security
543,296
520,195

Obligations under finance lease and hire purchase contracts
32,510
64,000

Other creditors
177,410
138,371

Accruals
200,940
186,435

Deferred income
1,672,902
1,635,321

3,228,220
3,224,402



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
90,848
174,708

Obligations under finance leases and hire purchase contracts
111,416
48,887

Deferred income
119,436
152,338

321,700
375,933


Security
Bank loans are secured by a debenture over the assets of the company.
An unlimited guarantee has also been given by a related company in respect of the bank loan.
There is a deed of postponement in place by a director limited to £92,000.
Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.

Page 10

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
83,860
87,040

Amounts falling due 1-2 years

Bank loans
83,860
83,860

Amounts falling due 2-5 years

Bank loans
6,988
90,848


174,708
261,748



11.


Deferred taxation




2024
2023


£

£






At beginning of year
169,230
126,898


Charged to the Statement of comprehensive income
6,538
42,332



At end of year
175,768
169,230

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
175,768
169,230

175,768
169,230

Page 11

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Provisions




Dilapidation provision

£





At 1 May 2023
64,000


Charged to the Statement of comprehensive income
24,000



At 30 April 2024
88,000


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



900 Ordinary "A" shares of £1 each
900
900
900 Ordinary "B" shares of £1 each
900
900
200 Ordinary "C" shares of £1 each
200
200

2,000

2,000


The Ordinary "A" £1 shares, Ordinary "B" £1 shares and Ordinary "C" £1 shares are separate classes of shares for the purpose of declaration of dividends. The declaration of a dividend in respect of one class of share shall not compel a dividend at the same rate to be declared in respect of any other class of shares. The Ordinary "A" £1 shares, Ordinary "B" £1 shares and Ordinary "C" £1 shares rank pari passu in all other respects.



14.


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 £60,700 (2023 - £53,643). Contributions totaling £Nil (2023 - £Nil) were outstanding at the reporting date.

Page 12

 
GAS LOGIC LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

15.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
630,232
616,000

Later than 1 year and not later than 5 years
1,570,322
1,853,508

Later than 5 years
658,708
869,920

2,859,262
3,339,428


16.


Related party transactions

During the year, the company made purchases of £480,594 (2023 - £492,448) from a company under common control. Also during the year, the company made sales of £121,832 (2023 - £14,899) to the same related party. The company received management charges of £519,000 (2023 - £440,000) from the same related party. At the year end, the company was owed £328,171 (2023 - £211,756) from the related party.
 
Included within other debtors is an amount of £Nil (2023 - £21,319) owed by a company under common control
 
During the year, the company made purchases of £48,000 (2023 - £34,500) from a company under common control. At the reporting date, the company was owed £1,067,591 (2023 - £1,088,591) from that company, included within amounts owed by group undertakings.
 
During the year, an amount of £Nil (2023 - £164,318) owed by a subsidiary was waived by means of a deed of waiver. The balance was transferred to the Profit and loss account. During the year, an amount of £523 (2023 - £Nil) was written back to the Statement of comprehensive income. 
 
Included within other debtors are amounts of £Nil (2023 - £2,124) due from the directors.
 
Included within other creditors are amounts of £4,469 (2023 - £4,469) accrued as interest due to directors.


17.


Ultimate parent undertaking and controlling party

The immediate and ultimate parent company is Marlo Holdings Limited, a company incorporated in England and Wales.
The ultimate controlling parties are the directors by virtue of their majority shareholding in the ultimate  parent company.

 
Page 13