Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31false2023-04-01falseNo description of principal activity3023truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04086014 2023-04-01 2024-03-31 04086014 2022-04-01 2023-03-31 04086014 2024-03-31 04086014 2023-03-31 04086014 2022-04-01 04086014 c:Director3 2023-04-01 2024-03-31 04086014 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 04086014 d:Buildings d:LongLeaseholdAssets 2023-03-31 04086014 d:OfficeEquipment 2023-04-01 2024-03-31 04086014 d:OfficeEquipment 2023-03-31 04086014 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04086014 d:ComputerEquipment 2023-04-01 2024-03-31 04086014 d:ComputerEquipment 2023-03-31 04086014 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04086014 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04086014 d:OtherResidualIntangibleAssets 2023-04-01 2024-03-31 04086014 d:CurrentFinancialInstruments 2024-03-31 04086014 d:CurrentFinancialInstruments 2023-03-31 04086014 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 04086014 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 04086014 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 04086014 c:FRS102 2023-04-01 2024-03-31 04086014 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04086014 c:FullAccounts 2023-04-01 2024-03-31 04086014 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04086014 d:ComputerSoftware 2024-03-31 04086014 d:ComputerSoftware 2023-03-31 04086014 d:Subsidiary1 2023-04-01 2024-03-31 04086014 d:Subsidiary2 2023-04-01 2024-03-31 04086014 d:Subsidiary3 2023-04-01 2024-03-31 04086014 d:Subsidiary4 2023-04-01 2024-03-31 04086014 d:Buildings d:LongLeaseholdAssets d:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 04086014 d:OfficeEquipment d:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 04086014 d:ComputerEquipment d:PriorPeriodIncreaseDecrease 2023-04-01 2024-03-31 04086014 d:Subsidiary1 1 2023-04-01 2024-03-31 04086014 d:Subsidiary2 1 2023-04-01 2024-03-31 04086014 d:Subsidiary3 1 2023-04-01 2024-03-31 04086014 d:Subsidiary4 1 2023-04-01 2024-03-31 04086014 d:WithinOneYear 2024-03-31 04086014 d:WithinOneYear 2023-03-31 04086014 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-04-01 2024-03-31 04086014 6 2023-04-01 2024-03-31 04086014 7 2023-04-01 2024-03-31 04086014 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 04086014 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04086014 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 04086014 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 04086014 d:OtherDeferredTax 2024-03-31 04086014 d:OtherDeferredTax 2023-03-31 04086014 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 04086014 e:PoundSterling 2023-04-01 2024-03-31 04086014 d:PriorPeriodErrorIncreaseDecrease 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 04086014










CRONDALL ENERGY CONSULTANTS LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CRONDALL ENERGY CONSULTANTS LTD
REGISTERED NUMBER: 04086014

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
28,568
-

Tangible assets
 5 
62,519
41,036

Investments
 6 
12,248
17,927

  
103,335
58,963

Current assets
  

Debtors: amounts falling due within one year
 7 
3,713,873
3,290,723

Cash at bank and in hand
  
897,057
504,700

  
4,610,930
3,795,423

Creditors: amounts falling due within one year
 8 
(1,443,193)
(1,578,137)

Net current assets
  
 
 
3,167,737
 
 
2,217,286

Provisions for liabilities
  

Deferred taxation
 9 
-
(6,305)

Other provisions
 10 
(10,250)
(7,250)

  
 
 
(10,250)
 
 
(13,555)

Net assets
  
3,260,822
2,262,694


Capital and reserves
  

Called up share capital 
  
100
100

Capital redemption reserve
  
1
1

Profit and loss account
  
3,260,721
2,262,593

  
3,260,822
2,262,694


Page 1

 
CRONDALL ENERGY CONSULTANTS LTD
REGISTERED NUMBER: 04086014
    
STATEMENT OF FINANCIAL POSITION (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: 






A-L Peters
Director

Date: 29 July 2024

Page 2

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Crondall Energy Consultants Ltd is a private company limited by shares. It is incorporated in England and its registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT. Its registered number is 04086014.

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

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

The results of the company are included in the consolidated financial statements prepared by the parent company, Crondall Energy Ltd.

 
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.

Page 3

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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.

 
2.6

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102.
Grants of a revenue nature are recognised in the Income statement in the same period as the related expenditure.

Page 4

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the statement of comprehensive income over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each Statement of financial position date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

 
2.10

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.

Page 5

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.11

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:

Computer software
-
5
years

 
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.

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
-
over the life of the lease
Office equipment
-
20%, 33% and 50% straight line
Computer equipment
-
20% and 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.

 
2.13

Valuation of investments

Investments in subsidiaries and associates are measured at cost less accumulated impairment in the company accounts.

 
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.

Page 6

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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

Holiday pay and time in lieu accrual

A liability is recognised to the extent of any unused holiday pay entitlement and accumulated time in lieu which is accrued at the Statement of financial position date and carried forward to future periods. This is measured at the undiscounted salary cost of the future entitlement so accrued at the Statement of financial position date.

 
2.18

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.

 
2.19

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 23).

Page 7

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Computer software

£



Cost


Additions
29,305



At 31 March 2024

29,305



Amortisation


Charge for the year on owned assets
737



At 31 March 2024

737



Net book value



At 31 March 2024
28,568



At 31 March 2023
-



Page 8

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Leasehold improvements
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
13,211
12,930
81,068
107,209


Additions
-
6,734
40,538
47,272



At 31 March 2024
13,211
19,664
121,606
154,481



Depreciation


At 1 April 2023
9,439
5,618
51,116
66,173


Charge for the year on owned assets
2,718
3,264
19,807
25,789



At 31 March 2024
12,157
8,882
70,923
91,962



Net book value



At 31 March 2024
1,054
10,782
50,683
62,519



At 31 March 2023
3,772
7,312
29,952
41,036

Page 9

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Total

£
£
£



Cost or valuation


At 1 April 2023
66,898
24
66,922


Disposals
(51)
-
(51)



At 31 March 2024

66,847
24
66,871



Impairment


At 1 April 2023
48,995
-
48,995


Charge for the period
5,628
-
5,628



At 31 March 2024

54,623
-
54,623



Net book value



At 31 March 2024
12,224
24
12,248



At 31 March 2023
17,903
24
17,927


Subsidiary undertakings


The following were subsidiary undertakings of the company:

Name

Registered office

Class of shares

Holding

Crondall Energy Consultants PTE Ltd, including a permanent establishment in Indonesia
Singapore
Ordinary
100%
Crondall Energy Consultants Inc
USA
Ordinary
100%
Crondall Energy Consultants AS
Norway
Ordinary
100%
Buoyant Production Technologies Limited
UK
Ordinary
100%

Crondall Training Ltd was dissolved in the year.

Page 10

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

.


Interest in Associates

The company holds a 20% interest in Crondall Energy Subsea Ltd. The parent company, Crondall Energy Ltd, holds the remaining 80% interest in Crondall Energy Subsea Ltd.


7.


Debtors




2024
2023
£
£

Due within one year

Trade debtors
1,380,263
894,890

Amounts owed by group undertakings
1,710,602
2,148,209

Other debtors
65,803
46,396

Prepayments and accrued income
427,838
201,228

Deferred taxation
129,367
-

3,713,873
3,290,723



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
354,717
114,368

Amounts owed to group undertakings
471,425
1,055,619

Other taxation and social security
362,662
188,739

Other creditors
4,339
40,345

Accruals and deferred income
250,050
179,066

1,443,193
1,578,137


Page 11

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Deferred taxation




2024
2023


£

£






At beginning of year
(6,305)
(2,520)


Charged to the profit or loss
135,672
(3,785)



At end of year
129,367
(6,305)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(22,772)
(10,259)

Tax losses carried forward
152,139
-

Short term timing differences
-
3,954

129,367
(6,305)


10.


Provisions




Dilapidation provision

£





At 1 April 2023
7,250


Charged to profit or loss
3,000



At 31 March 2024
10,250

Page 12

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Share based payments

In June 2022, the company issued new Enterprise Management Incentive share option contracts (CE2) to certain employees. Each option under CE2 gives the right, subject to certain terms and conditions, to subscribe for a maximum number of ‘C’ or ‘D’ ordinary shares of £0.001 each at £1.78 per share. All the shares vested on the date of grant.  The options over the vested shares are eligible for exercise after the occurrence of certain events and may not be exercised after 21 June 2032.  
 
Details of the number of shares on options outstanding during the year are as follows:

Number of shares on options (CE2)

Outstanding at the beginning of the year

37,233

Granted during the year

-

Forfeited during the year

-

Exercised during the year

(37,233)

Cancelled during the year

-

Outstanding at the end of the year

-

Exercisable at the end of the year

-



12.


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 £385,642 (2023 - £270,811). Contributions totalling £nil (2023 - £37,677) were payable to the fund at the reporting date.


13.


Commitments under operating leases

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

2024
2023
£
£

Land and buildings


Not later than 1 year
62,639
40,541

62,639
40,541

Page 13

 
CRONDALL ENERGY CONSULTANTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

14.


Related party transactions

TC Loans Limited holds a fixed and floating charge over the company's assets as security against a loan made to Crondall Energy Holdings Ltd.


15.


Controlling party

The immediate parent company is Crondall Energy Ltd, a company incorporated in England, by virtue of its 100% holding. 
The ultimate parent company is Crondall Energy Holdings Ltd, a company incorporated in England, by virtue of it 100% holding of Crondall Energy Ltd.
The smallest and largest group for which consolidated accounts are drawn up is that headed by Crondall Energy Ltd and its registered office address is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

 
Page 14