Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseInformation technology consultancy activities99truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03651449 2023-04-01 2024-03-31 03651449 2022-04-01 2023-03-31 03651449 2024-03-31 03651449 2023-03-31 03651449 c:Director2 2023-04-01 2024-03-31 03651449 d:MotorVehicles 2023-04-01 2024-03-31 03651449 d:MotorVehicles 2024-03-31 03651449 d:MotorVehicles 2023-03-31 03651449 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03651449 d:FurnitureFittings 2023-04-01 2024-03-31 03651449 d:FurnitureFittings 2024-03-31 03651449 d:FurnitureFittings 2023-03-31 03651449 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03651449 d:OfficeEquipment 2023-04-01 2024-03-31 03651449 d:OfficeEquipment 2024-03-31 03651449 d:OfficeEquipment 2023-03-31 03651449 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03651449 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03651449 d:CurrentFinancialInstruments 2024-03-31 03651449 d:CurrentFinancialInstruments 2023-03-31 03651449 d:Non-currentFinancialInstruments 2024-03-31 03651449 d:Non-currentFinancialInstruments 2023-03-31 03651449 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03651449 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03651449 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03651449 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03651449 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 03651449 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 03651449 d:ShareCapital 2024-03-31 03651449 d:ShareCapital 2023-03-31 03651449 d:RetainedEarningsAccumulatedLosses 2024-03-31 03651449 d:RetainedEarningsAccumulatedLosses 2023-03-31 03651449 c:FRS102 2023-04-01 2024-03-31 03651449 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03651449 c:FullAccounts 2023-04-01 2024-03-31 03651449 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03651449 2 2023-04-01 2024-03-31 03651449 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 03651449










KNIBBS COMPUTER SERVICES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
KNIBBS COMPUTER SERVICES LIMITED
REGISTERED NUMBER: 03651449

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
39,385
2,430

  
39,385
2,430

Current assets
  

Stocks
  
8,658
9,641

Debtors: amounts falling due within one year
 5 
121,557
75,571

Cash at bank and in hand
 6 
71,455
193,027

  
201,670
278,239

Creditors: amounts falling due within one year
 7 
(141,585)
(133,041)

Net current assets
  
 
 
60,085
 
 
145,198

Total assets less current liabilities
  
99,470
147,628

Creditors: amounts falling due after more than one year
 8 
(16,757)
(26,582)

  

Net assets
  
82,713
121,046


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
82,613
120,946

  
82,713
121,046


Page 1

 
KNIBBS COMPUTER SERVICES LIMITED
REGISTERED NUMBER: 03651449
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 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: 




T R Knibbs
Director

Date: 4 September 2024

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
KNIBBS COMPUTER SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Knibbs Computer Services Limited is a private company limited by shares and incorporated in England and Wales. The registered office is Ground Floor, 2/7 Horsted Square, Bellbrook Industrial Estate, Uckfield, TN22 1QG. The company number is 03651449.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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

Interest income

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

Page 3

 
KNIBBS COMPUTER SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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.

 
2.5

Borrowing costs

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

 
2.6

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.

 
2.7

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 balance sheet date in the countries where the Company operates and generates income.

 
2.8

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

 
KNIBBS COMPUTER SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
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:

Motor vehicles
-
14%
straight line
Fixtures and fittings
-
33%
straight line
Office 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.

 
2.9

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 weighted average 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.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.11

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.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. 

 
2.13

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.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

 

Page 5

 
KNIBBS COMPUTER SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due within the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is 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.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

Page 6

 
KNIBBS COMPUTER SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

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 9 (2023 - 9).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost


At 1 April 2023
-
2,371
15,241
17,612


Additions
29,291
6,160
12,993
48,444



At 31 March 2024

29,291
8,531
28,234
66,056



Depreciation


At 1 April 2023
-
2,371
12,811
15,182


Charge for the year on owned assets
4,184
2,036
5,269
11,489



At 31 March 2024

4,184
4,407
18,080
26,671



Net book value



At 31 March 2024
25,107
4,124
10,154
39,385



At 31 March 2023
-
-
2,430
2,430

Page 7

 
KNIBBS COMPUTER SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
111,307
75,071

Other debtors
3,938
500

Tax recoverable
6,312
-

121,557
75,571



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
71,455
193,027



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,648
10,648

Trade creditors
44,073
22,936

Corporation tax
-
28,323

Other taxation and social security
25,234
33,864

Other creditors
59,673
35,520

Accruals and deferred income
1,957
1,750

141,585
133,041



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
16,757
26,582


Page 8

 
KNIBBS COMPUTER SERVICES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,648
10,648


Amounts falling due 2-5 years

Bank loans
16,757
26,582


27,405
37,230


 
Page 9