Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity1212truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04578364 2023-01-01 2023-12-31 04578364 2022-01-01 2022-12-31 04578364 2023-12-31 04578364 2022-12-31 04578364 2022-01-01 04578364 c:Director1 2023-01-01 2023-12-31 04578364 d:Buildings 2023-01-01 2023-12-31 04578364 d:Buildings 2023-12-31 04578364 d:Buildings 2022-12-31 04578364 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04578364 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 04578364 d:Buildings d:ShortLeaseholdAssets 2023-12-31 04578364 d:Buildings d:ShortLeaseholdAssets 2022-12-31 04578364 d:MotorVehicles 2023-01-01 2023-12-31 04578364 d:MotorVehicles 2023-12-31 04578364 d:MotorVehicles 2022-12-31 04578364 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04578364 d:FurnitureFittings 2023-01-01 2023-12-31 04578364 d:FurnitureFittings 2023-12-31 04578364 d:FurnitureFittings 2022-12-31 04578364 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04578364 d:OfficeEquipment 2023-01-01 2023-12-31 04578364 d:OfficeEquipment 2023-12-31 04578364 d:OfficeEquipment 2022-12-31 04578364 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04578364 d:ComputerEquipment 2023-01-01 2023-12-31 04578364 d:ComputerEquipment 2023-12-31 04578364 d:ComputerEquipment 2022-12-31 04578364 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04578364 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04578364 d:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 04578364 d:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 04578364 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 04578364 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 04578364 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 04578364 d:OtherResidualIntangibleAssets 2023-01-01 2023-12-31 04578364 d:CurrentFinancialInstruments 2023-12-31 04578364 d:CurrentFinancialInstruments 2022-12-31 04578364 d:Non-currentFinancialInstruments 2023-12-31 04578364 d:Non-currentFinancialInstruments 2022-12-31 04578364 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04578364 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04578364 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04578364 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04578364 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 04578364 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 04578364 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 04578364 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 04578364 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 04578364 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 04578364 d:ShareCapital 2023-12-31 04578364 d:ShareCapital 2022-12-31 04578364 d:RetainedEarningsAccumulatedLosses 2023-12-31 04578364 d:RetainedEarningsAccumulatedLosses 2022-12-31 04578364 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04578364 c:OrdinaryShareClass1 2023-12-31 04578364 c:OrdinaryShareClass1 2022-12-31 04578364 c:FRS102 2023-01-01 2023-12-31 04578364 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04578364 c:FullAccounts 2023-01-01 2023-12-31 04578364 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04578364 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 04578364 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 04578364 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 04578364 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 04578364 2 2023-01-01 2023-12-31 04578364 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04578364 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04578364 d:RetirementBenefitObligationsDeferredTax 2023-12-31 04578364 d:RetirementBenefitObligationsDeferredTax 2022-12-31 04578364 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04578364 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04578364 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04578364










CONTROLSOFT LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
CONTROLSOFT LIMITED
REGISTERED NUMBER: 04578364

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
857
1,065

Tangible assets
 5 
915,846
963,026

  
916,703
964,091

Current assets
  

Stocks
 6 
286,713
286,900

Debtors: amounts falling due within one year
 7 
952,477
893,078

Cash at bank and in hand
  
415,020
211,544

  
1,654,210
1,391,522

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(482,198)
(397,439)

Net current assets
  
 
 
1,172,012
 
 
994,083

Total assets less current liabilities
  
2,088,715
1,958,174

Creditors: amounts falling due after more than one year
 9 
(382,663)
(426,719)

Provisions for liabilities
  

Deferred tax
 12 
(33,579)
(31,369)

  
 
 
(33,579)
 
 
(31,369)

Net assets
  
1,672,473
1,500,086


Capital and reserves
  

Called up share capital 
 13 
1,000
1,000

Profit and loss account
  
1,671,473
1,499,086

  
1,672,473
1,500,086


Page 1

 
CONTROLSOFT LIMITED
REGISTERED NUMBER: 04578364

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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 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: 






J P Summers
Director

Date: 5 September 2024

Page 2

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Controlsoft Limited is a private company, limited by share capital and incorporated in England and Wales. 
The company's registered office and principal place of business is Security House, 82C Chesterton Lane, Cirencester, GL7 1YD.

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

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 for services during the year, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Development expenditure
-
3
years
Other intangible fixed assets
-
10
years

 
2.4

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

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.


Freehold property
-
2%
straight line
Improvements to property
-
10%
straight line
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
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 profit or loss.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

Page 4

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
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.

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
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

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.

 
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.

 
2.12

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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

Interest income

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

Page 5

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

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 profit or loss.

 
2.15

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 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 balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 12).

Page 6

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Other intangible assets
Development costs
Total

£
£
£



Cost


At 1 January 2023
112,881
35,511
148,392



At 31 December 2023

112,881
35,511
148,392



Amortisation


At 1 January 2023
111,816
35,511
147,327


Charge for the year on owned assets
208
-
208



At 31 December 2023

112,024
35,511
147,535



Net book value



At 31 December 2023
857
-
857



At 31 December 2022
1,065
-
1,065




Page 7

 


 
CONTROLSOFT LIMITED


 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


5.


Tangible fixed assets






Freehold property
Improvements to property
Motor vehicles
Fixtures & fittings
Office equipment
Computer equipment
Total

£
£
£
£
£
£
£



Cost or valuation


At 1 January 2023
869,938
41,273
108,230
42,904
6,474
30,862
1,099,681


Additions
-
-
-
2,735
-
1,672
4,407



At 31 December 2023

869,938
41,273
108,230
45,639
6,474
32,534
1,104,088



Depreciation


At 1 January 2023
31,364
33,092
26,257
19,652
5,941
20,349
136,655


Charge for the year on owned assets
17,399
2,760
20,493
6,164
133
4,638
51,587



At 31 December 2023

48,763
35,852
46,750
25,816
6,074
24,987
188,242



Net book value



At 31 December 2023
821,175
5,421
61,480
19,823
400
7,547
915,846



At 31 December 2022
838,574
8,181
81,973
23,252
533
10,513
963,026

Page 8

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
286,713
286,900

286,713
286,900



7.


Debtors

2023
2022
£
£

Trade debtors
852,685
854,616

Other debtors
99,792
38,462

952,477
893,078



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Bank loans
35,106
34,258

Trade creditors
252,366
199,804

Corporation tax
85,764
54,514

Other taxation and social security
91,386
95,060

Obligations under finance lease and hire purchase contracts
8,950
8,950

Other creditors
4,964
1,503

Accruals and deferred income
3,662
3,350

482,198
397,439


The bank loan is secured against the property to which it relates.
Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.

Page 9

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Bank loans
370,843
405,949

Net obligations under finance leases and hire purchase contracts
11,820
20,770

382,663
426,719


The bank loan is secured against the property to which it relates.
Obligations under finance lease and hire purchase contracts are secured against the assets to which they relate.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
35,106
34,258

Amounts falling due 1-2 years

Bank loans
36,269
35,107

Amounts falling due 2-5 years

Bank loans
89,287
96,070

Amounts falling due after more than 5 years

Bank loans
245,287
274,772

405,949
440,207



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
8,950
8,950

Between 1-5 years
11,820
20,770

20,770
29,720
Page 10

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Deferred taxation




2023
2022


£

£






At beginning of year
(31,369)
(592)


Charged to profit or loss
(2,210)
(30,777)



At end of year
(33,579)
(31,369)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(33,579)
(31,415)

Short term timing differences
-
46

(33,579)
(31,369)


13.


Share capital

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



1,000 (2022 - 1,000) Ordinary Shares shares of £1 each
1,000
1,000



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 £70,153 (2022: £21,133). Contributions totalling £nil (2022: £733) were payable to the fund at the balance sheet date and are included in creditors. 


15.


Related party transactions

During the year dividends of £64,559 (2022: £2,750) were paid to the parent company, Meadowbrook Holdings Limited.
During the year sales of £136,236 (2022: £117,877) were made to Controlsoft Acess Inc, a company under common control, at the year end Controlsoft Acess Inc owed Controlsoft Limited £167,549 (2022: £211,977).
During the year sales of £42,810 (2022: £71,095) were made to Controlsoft (PTY) Ltd, a company under common control, at the year end Controlsoft (PTY) Ltd owed Controlsoft Limited £30,883 (2022: £28,306).

Page 11

 
CONTROLSOFT LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

16.


Controlling party

Meadowbrook Holdings Limited owns 100% of the issued share capital of the Company.

Page 12