Caseware UK (AP4) 2023.0.135 2023.0.135 2023-03-312023-03-31false2022-04-01falsehe principal activity of the company is that of providing computer and software consultancy.44falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04280176 2022-04-01 2023-03-31 04280176 2021-04-01 2022-03-31 04280176 2023-03-31 04280176 2022-03-31 04280176 c:Director2 2022-04-01 2023-03-31 04280176 d:Buildings 2022-04-01 2023-03-31 04280176 d:Buildings 2023-03-31 04280176 d:Buildings 2022-03-31 04280176 d:Buildings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04280176 d:PlantMachinery 2022-04-01 2023-03-31 04280176 d:PlantMachinery 2023-03-31 04280176 d:PlantMachinery 2022-03-31 04280176 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04280176 d:FurnitureFittings 2022-04-01 2023-03-31 04280176 d:ComputerEquipment 2022-04-01 2023-03-31 04280176 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04280176 d:CurrentFinancialInstruments 2023-03-31 04280176 d:CurrentFinancialInstruments 2022-03-31 04280176 d:Non-currentFinancialInstruments 2023-03-31 04280176 d:Non-currentFinancialInstruments 2022-03-31 04280176 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04280176 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 04280176 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 04280176 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 04280176 d:ShareCapital 2023-03-31 04280176 d:ShareCapital 2022-03-31 04280176 d:CapitalRedemptionReserve 2023-03-31 04280176 d:CapitalRedemptionReserve 2022-03-31 04280176 d:RetainedEarningsAccumulatedLosses 2023-03-31 04280176 d:RetainedEarningsAccumulatedLosses 2022-03-31 04280176 c:OrdinaryShareClass1 2022-04-01 2023-03-31 04280176 c:OrdinaryShareClass1 2023-03-31 04280176 c:OrdinaryShareClass1 2022-03-31 04280176 c:FRS102 2022-04-01 2023-03-31 04280176 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 04280176 c:FullAccounts 2022-04-01 2023-03-31 04280176 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04280176 2 2022-04-01 2023-03-31 04280176 e:PoundSterling 2022-04-01 2023-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04280176









NETEC GLOBAL CONSULTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
NETEC GLOBAL CONSULTING LIMITED
REGISTERED NUMBER: 04280176

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
221,043
217,180

  
221,043
217,180

Current assets
  

Debtors: amounts falling due within one year
 5 
374,975
330,188

Cash at bank and in hand
  
40,847
58,619

  
415,822
388,807

Creditors: amounts falling due within one year
 6 
(354,616)
(204,640)

Net current assets
  
 
 
61,206
 
 
184,167

Total assets less current liabilities
  
282,249
401,347

Creditors: amounts falling due after more than one year
 7 
(25,705)
(34,513)

Provisions for liabilities
  

Deferred tax
  
(2,959)
(1,024)

  
 
 
(2,959)
 
 
(1,024)

Net assets
  
253,585
365,810


Capital and reserves
  

Called up share capital 
 8 
50
50

Capital redemption reserve
  
50
50

Profit and loss account
  
253,485
365,710

  
253,585
365,810


Page 1

 
NETEC GLOBAL CONSULTING LIMITED
REGISTERED NUMBER: 04280176
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 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 income and retained earnings 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: 




I Doctors
Director

Date: 13 September 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NETEC GLOBAL CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales under
company number 04280176.
The principal activity of the company is that of providing computer and software consultancy.
The Registered Office address is 35 Ballards Lane, London N3 1XW.

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, 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.

 
2.3

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.

 
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

 
NETEC GLOBAL CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

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 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.

 
2.9

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 4

 
NETEC GLOBAL CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.9
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.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Fixtures & fittings
-
15%
reducing balance
Computer equipment
-
25%
reducing balance

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.

 
2.10

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.

 
2.11

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.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of
Page 5

 
NETEC GLOBAL CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 
2.13

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 4 (2022 - 4).

Page 6

 
NETEC GLOBAL CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 April 2022
248,683
49,915
298,598


Additions
-
11,626
11,626



At 31 March 2023

248,683
61,541
310,224



Depreciation


At 1 April 2022
35,757
45,662
81,419


Charge for the year on owned assets
3,973
3,789
7,762



At 31 March 2023

39,730
49,451
89,181



Net book value



At 31 March 2023
208,953
12,090
221,043



At 31 March 2022
212,926
4,254
217,180

Included in land and buildings is freehold land at a valuation of £50,000 (2022: £50,000) which is not
depreciated.


5.


Debtors

2023
2022
£
£


Trade debtors
141,890
87,940

Other debtors
233,085
242,248

374,975
330,188


Page 7

 
NETEC GLOBAL CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
7,500
7,500

Trade creditors
209,667
80,002

Corporation tax
103,766
70,854

Other taxation and social security
2,640
18,177

Other creditors
25,042
25,106

Accruals and deferred income
6,001
3,001

354,616
204,640



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
25,705
34,513




Page 8

 
NETEC GLOBAL CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary shares of £1.00 each
50
50



9.


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. 
An amount of £594 (2022: £364) (of which the employer's portion is £254 (2022: £156) was outstanding at the year end and is included in other creditors.


10.


Related party transactions

Included in other debtors is £191,667 (2022: £226,400) owed by the directors. This balance is unsecured and repayable on demand. Interest has been charged at the official rate.

 
Page 9