Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312024-03-312024-09-12falseBarnes Roffe LLPNo description of principal activityElliot S J Arwas2023-04-01falsetrue 07138786 2023-04-01 2024-03-31 07138786 2022-04-01 2023-03-31 07138786 2024-03-31 07138786 2023-03-31 07138786 1 2023-04-01 2024-03-31 07138786 d:Director2 2023-04-01 2024-03-31 07138786 c:PlantMachinery 2023-04-01 2024-03-31 07138786 c:CurrentFinancialInstruments 2024-03-31 07138786 c:CurrentFinancialInstruments 2023-03-31 07138786 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 07138786 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 07138786 c:ShareCapital 2024-03-31 07138786 c:ShareCapital 2023-03-31 07138786 c:CapitalRedemptionReserve 2024-03-31 07138786 c:CapitalRedemptionReserve 2023-03-31 07138786 c:RetainedEarningsAccumulatedLosses 2024-03-31 07138786 c:RetainedEarningsAccumulatedLosses 2023-03-31 07138786 c:RetainedEarningsAccumulatedLosses 2022-04-01 07138786 d:OrdinaryShareClass1 2023-04-01 2024-03-31 07138786 d:OrdinaryShareClass1 2024-03-31 07138786 d:OrdinaryShareClass2 2023-04-01 2024-03-31 07138786 d:OrdinaryShareClass2 2024-03-31 07138786 d:FRS102 2023-04-01 2024-03-31 07138786 d:Audited 2023-04-01 2024-03-31 07138786 d:FullAccounts 2023-04-01 2024-03-31 07138786 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07138786 c:Subsidiary1 2023-04-01 2024-03-31 07138786 c:Subsidiary1 1 2023-04-01 2024-03-31 07138786 c:WithinOneYear 2024-03-31 07138786 c:WithinOneYear 2023-03-31 07138786 c:BetweenOneFiveYears 2024-03-31 07138786 c:BetweenOneFiveYears 2023-03-31 07138786 c:PlantEquipmentOtherAssetsUnderOperatingLeases 2024-03-31 07138786 c:PlantEquipmentOtherAssetsUnderOperatingLeases 2023-03-31 07138786 c:PlantEquipmentOtherAssetsUnderOperatingLeases c:WithinOneYear 2024-03-31 07138786 c:PlantEquipmentOtherAssetsUnderOperatingLeases c:WithinOneYear 2023-03-31 07138786 c:PlantEquipmentOtherAssetsUnderOperatingLeases c:BetweenOneFiveYears 2024-03-31 07138786 c:PlantEquipmentOtherAssetsUnderOperatingLeases c:BetweenOneFiveYears 2023-03-31 07138786 d:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 07138786 d:Consolidated 2024-03-31 07138786 d:ConsolidatedGroupCompanyAccounts 2023-04-01 2024-03-31 07138786 2 2023-04-01 2024-03-31 07138786 6 2023-04-01 2024-03-31 07138786 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07138786









INDECS CONSULTING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
INDECS CONSULTING LIMITED
REGISTERED NUMBER: 07138786

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
36,225
37,892

  
36,225
37,892

Current assets
  

Debtors: amounts falling due within one year
 7 
3,819,903
3,047,615

Cash at bank and in hand
 8 
1,072,029
347,994

  
4,891,932
3,395,609

Creditors: amounts falling due within one year
 9 
(1,907,550)
(800,755)

Net current assets
  
 
 
2,984,382
 
 
2,594,854

Net assets
  
3,020,607
2,632,746


Capital and reserves
  

Called up share capital 
 10 
1,079,766
1,079,766

Capital redemption reserve
  
359,922
359,922

Profit and loss account
  
1,580,919
1,193,058

  
3,020,607
2,632,746


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 Consolidated 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 11 September 2024.




B E L Williams
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 1

 
INDECS CONSULTING LIMITED
REGISTERED NUMBER: 07138786

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
-

Tangible assets
 5 
36,225
37,892

Investments
 6 
55,192
55,192

  
91,417
93,084

Current assets
  

Debtors: amounts falling due within one year
 7 
3,847,993
3,101,618

Cash at bank and in hand
 8 
1,007,043
284,798

  
4,855,036
3,386,416

Creditors: amounts falling due within one year
 9 
(1,878,049)
(795,202)

Net current assets
  
 
 
2,976,987
 
 
2,591,214

Net assets
  
3,068,404
2,684,298


Capital and reserves
  

Called up share capital 
 10 
1,079,766
1,079,766

Capital redemption reserve
  
359,922
359,922

Profit and loss account brought forward
  
1,244,610
1,404,481

Profit for the year
  
3,484,106
2,570,129

Other changes in the Profit and loss account

  

(3,100,000)
(2,730,000)

Profit and loss account carried forward
  
1,628,716
1,244,610

  
3,068,404
2,684,298


Page 2

 
INDECS CONSULTING LIMITED
REGISTERED NUMBER: 07138786
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

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 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 11 September 2024.




B E L Williams
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Indecs Consulting Limited is a company limited by shares, incorporated in England and Wales. The registered office is 3rd Floor 62 - 64 Cornhill, London, England, EC3V 3NH.
The principal activity of the company and group continued to be that of the provision of insurance consultancy services.

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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

  
2.2

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the factors which impact the company's future development, performance, cash flow, and financial position in forming their opinion on the going concern basis. The directors believe that the company has adequate resources to continue to operate and meet its obligations as they fall due for the foreseeable future, and for a period not less than 12 months from the date of approval of these financial statements, and therefore use of the going concern assumption is appropriate.

  
2.3

Business combinations

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

Page 4

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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 year 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 year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.
On consolidation, the results of overseas operations are translated into Sterling at rates approximating to those ruling when the transactions took place. All assets and liabilities of overseas operations are translated at the rate ruling at the reporting date. Exchange differences arising on translating the opening net assets at opening rate and the results of overseas operations at actual rate are recognised in other comprehensive income.

 
2.5

Turnover

Turnover represents amounts receivable for services net of VAT.
Turnover represents revenue earned under a wide variety of contracts to provide professional services.
Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. it is measured at the fair value of the right to consideration, which represent amounts chargeable to clients, including expenses and disbursements but excluding value added tax. Revenue earned but not billed to clients is included in accrued income within debtors, and payments on account in excess of the relevant amount of revenue are included in deferred income within creditors.

 
2.6

Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the Statement of comprehensive income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Page 5

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.7

Interest income

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

  
2.8

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the year in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

 
2.9

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

 
2.10

Taxation

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 and the Group operate and generate income.

  
2.11

Intangible fixed assets - goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years. This is based on the expectation that the entity will continue to generate economic benefits for at least 10 years from the acquisition of the goodwill.

 
2.12

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 6

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Fixtures and fittings
-
20% per annum on cost

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.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

 
2.15

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.

 
2.16

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.

 
2.17

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 28 (2023 - 22).

Page 7

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets

Group and Company





Goodwill

£



Cost


At 1 April 2023
2,145,000



At 31 March 2024

2,145,000



Amortisation


At 1 April 2023
2,145,000



At 31 March 2024

2,145,000



Net book value



At 31 March 2024
-



At 31 March 2023
-



Page 8

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets

Group and Company






Fixtures and fittings

£



Cost 


At 1 April 2023
208,004


Additions
13,690



At 31 March 2024

221,694



Depreciation


At 1 April 2023
170,112


Charge for the year
15,357



At 31 March 2024

185,469



Net book value



At 31 March 2024
36,225



At 31 March 2023
37,892

Page 9

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost 


At 1 April 2023
55,192



At 31 March 2024
55,192





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Indecs Consulting (EU) SA
Belgium
Ordinary
100%




7.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
1,983,535
1,807,465
1,855,037
1,775,546

Amounts owed by group undertakings
-
-
370,115
85,922

Other debtors
1,737,264
1,180,845
1,524,438
1,180,845

Prepayments and accrued income
99,104
59,305
98,403
59,305

3,819,903
3,047,615
3,847,993
3,101,618


Page 10

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Cash and cash equivalents

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Cash at bank and in hand
1,072,029
347,994
1,007,043
284,798

1,072,029
347,994
1,007,043
284,798



9.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Trade creditors
62,301
50,164
55,341
46,842

Corporation tax
642,009
304,233
642,009
304,233

Other taxation and social security
128,382
96,077
128,382
95,625

Other creditors
369,956
5,461
347,415
3,682

Accruals and deferred income
704,902
344,820
704,902
344,820

1,907,550
800,755
1,878,049
795,202



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



8,098,244 Ordinary A shares of £0.10 each
809,824
809,825
2,699,415 Ordinary B shares of £0.10 each
269,942
269,941

1,079,766

1,079,766

The Ordinary "A" £0.10 shares and Ordinary "B" £0.10 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" and Ordinary "B" shares rank pari passu in all other respects.



11.


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 £392,249 (2023 - £214,159). Contributions totalling £22,764 (2023 - £3,647) were payable to the fund at the reporting date.

Page 11

 
INDECS CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Commitments under operating leases

At 31 March 2024 the Group and the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:


Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Land and building

Not later than 1 year
20,488
122,928
20,488
122,928

Later than 1 year and not later than 5 years
-
20,488
-
20,488

20,488
143,416
20,488
143,416

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Other

Not later than 1 year
1,015
1,740
1,015
1,740

Later than 1 year and not later than 5 years
-
1,015
-
1,015

1,015
2,755
1,015
2,755


13.


Post balance sheet events

There have been no subsequent events that require disclosure or adjustments to the financial statements.


14.


Controlling party

The ultimate controlling parties are the directors by virtue of their majority shareholding in the company.


15.


Auditors' information

The auditors' report was unqualified and made no reference to any matters to which the auditor drew attention by way of emphasis. The Senior statutory auditor was , for and on behalf of .

 
Page 12