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Financial Statements
Community Counselling Service (UK) Limited
For the financial year ended 31 December 2023





































Registered number: 09361934

 
Community Counselling Service (UK) Limited
 

Contents



Page
Company information
1
Statement of financial position
2
Statement of changes in equity
3
Notes to the financial statements
4 - 11


 
Community Counselling Service (UK) Limited
 

Company information


Directors
Charles Michaud 
Jonathan Kane 




Registered number
09361934



Registered office
54 Halton Garden
5th Floor

London

EC1N 8HN




Independent auditor
Grant Thornton
Chartered Accountants & Statutory Auditors

Mill House

Henry Street

Limerick




Bankers
AIB
Mayfair Business Centre

10 Berkley Square

Mayfair

London

W1J 8DP




Solicitors
Edwin Coe LLP
2 Stone Buildings

Lincolns Inn

Holborn

London

WC2A 3TH




Page 1

 
Community Counselling Service (UK) Limited
Registered number:09361934

Statement of financial position
As at 31 December 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
20,535
19,060

  
20,535
19,060

Current assets
  

Debtors: amounts falling due within one year
 5 
941,075
1,463,839

Cash at bank and in hand
 6 
740,289
187,109

  
1,681,364
1,650,948

Creditors: amounts falling due within one year
  
(321,869)
(374,542)

Net current assets
  
 
 
1,359,495
 
 
1,276,406

Total assets less current liabilities
  
1,380,030
1,295,466

  

Net assets
  
1,380,030
1,295,466


Capital and reserves
  

Called up share capital 
 7 
1
1

Capital redemption reserve
 8 
863,467
863,467

Profit and loss account
 8 
516,562
431,998

  
1,380,030
1,295,466


The company's 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 FRS102 Section 1A for 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: 




Jonathan Kane
Charles Michaud
Director
Director


Date: 25 July 2024

The notes on pages 4 to 11 form part of these financial statements.

Page 2

 
Community Counselling Service (UK) Limited
 

Statement of changes in equity
For the financial year ended 31 December 2023


Called up share capital
Capital contribution reserve
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
1
863,467
347,586
1,211,054


Comprehensive income for the financial year

Profit for the financial year
-
-
84,412
84,412


Total transactions with owners
-
-
-
-



At 1 January 2023
1
863,467
431,998
1,295,466


Comprehensive income for the financial year

Profit for the financial year
-
-
84,564
84,564
Total comprehensive income for the financial year
-
-
84,564
84,564


Total transactions with owners
-
-
-
-


At 31 December 2023
1
863,467
516,562
1,380,030


Page 3

 
Community Counselling Service (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

1.


General information

The company is a private company limited by shares with registered address at 54 Hatton Garden, 5th Floor, London, EC1N 8HN. The company’s registered number is 09361934. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements are presented in Sterling (£).

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 in the United Kingdom 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 judgment in applying the company's accounting policies.

These financial statements have been prepared in accordance with applicable accounting standards, including Section 1A of Financial Reporting Standard 102 – 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis unless otherwise specified within these accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis which assumes that the company will continue in existence for the foreseeable future. 
The directors have reviewed budgets and forecasted projections and consider that the company will have sufficient working capital resources to continue trading and with the continued support of the ultimate parent company consider it appropriate to prepare the financial statements on the going concern basis.

Page 4

 
Community Counselling Service (UK) Limited
 

Notes to the financial statements
For the financial year ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.4

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.

 
2.5

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.

Page 5

 
Community Counselling Service (UK) Limited
 

Notes to the financial statements
For the financial year ended 31 December 2023

2.Accounting policies (continued)

 
2.6

Interest income

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

 
2.7

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.

 
2.8

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 Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.9

Taxation

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 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.

Page 6

 
Community Counselling Service (UK) Limited
 

Notes to the financial statements
For the financial year ended 31 December 2023

2.Accounting policies (continued)

 
2.10

 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.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

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:

Leasehold improvements
-
20%
Fixtures and fittings
-
25%
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.

 
2.11

 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.

 
2.12

 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.

 
2.13

 Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, inclusive transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
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 7

 
Community Counselling Service (UK) Limited
 

Notes to the financial statements
For the financial year ended 31 December 2023

2.Accounting policies (continued)


2.14
 Financial instruments (continued)

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's Statement of financial position 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.

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.


3.


Employees

The average monthly number of employees, including the directors, during the financial year was as follows:


        2023
        2022
            No.
            No.







Management
1
1



Administration
9
7

10
8

Page 8

 
Community Counselling Service (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

4.


Tangible fixed assets





Leasehold improvements
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
24,555
8,379
108,999
141,933


Additions
-
-
11,142
11,142



At 31 December 2023

24,555
8,379
120,141
153,075



Depreciation


At 1 January 2023
24,555
8,379
89,939
122,873


Charge for the financial year on owned assets
-
-
9,667
9,667



At 31 December 2023

24,555
8,379
99,606
132,540



Net book value



At 31 December 2023
-
-
20,535
20,535



At 31 December 2022
-
-
19,060
19,060


5.


Debtors: Amounts falling due within one year

2023
2022
£
£


Trade debtors
274,198
773,434

Amounts owed by group undertakings
557,856
647,061

Other debtors
8,683
12,363

Prepayments and accrued income
100,338
30,981

941,075
1,463,839


Amounts owned by group undertakings are unsecured, interest free and repayable on demand.


6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
740,289
187,109

740,289
187,109


Page 9

 
Community Counselling Service (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023
2023
2022
£
£

Other taxation and social security


VAT
51,831
48,757

51,831
48,757

Trade creditors and accruals are payable at various dates over the coming months in accordance with the suppliers’ usual and customary credit terms. 
Corporation tax and other taxes including social insurance are repayable at various dates over the coming months in accordance with the applicable statutory provisions. 


7.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



1 Ordinary share of £1.00
1
1



8.


Reserves

Capital contribution reserve

Capital contribution reserve represents amounts contributed to equity by related companies.

Profit and loss account

Profit and loss account includes all current and prior period retained profits and losses.


9.


Capital commitments

The company had no capital commitments at year end (2022: £Nil).


10.


Related party transactions

The company has taken advantage of the exemption conferred by FRS 102 Section 33, removing the requirement to disclose transactions with other members of the Community Counselling Service Co, LLC Group of companies as all of the subsidiaries are wholly owned.


11.


Post balance sheet events

There have been no significant events affecting the company since the year end.

Page 10

 
Community Counselling Service (UK) Limited
 
 
Notes to the financial statements
For the financial year ended 31 December 2023

12.


Controlling party

100% of the ordinary share capital of the company is owned by Community Counselling Service Co., LLC. Community Counselling Service Co., LLC operates as a limited liability company incorporated in the United States of America, making the latter the ultimate parent company. Its principal place of business is 527 Madison Avenue, Fifth Floor, New York, NY, 10022, USA. The results of the company are consolidated into the results of Community Counselling Services Co., LLC, the smallest and largest group company to prepare consolidated accounts. The consolidated accounts of Community Counselling Services Co., LLC are publicly available.


13.


Approval of financial statements

The board of directors approved these financial statements for issue on 25 July 2024.

14.


Auditor's information

The auditor's report on the financial statements for the financial year ended 31 December 2023 was unqualified.

The audit report was signed on 25 July 2024 by Damian Gleeson (Senior statutory auditor) on behalf of Grant Thornton.


Page 11