Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falseNo description of principal activity2023-01-011515falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04589109 2023-01-01 2023-12-31 04589109 2022-01-01 2022-12-31 04589109 2023-12-31 04589109 2022-12-31 04589109 2022-01-01 04589109 c:Director2 2023-01-01 2023-12-31 04589109 d:PlantMachinery 2023-01-01 2023-12-31 04589109 d:PlantMachinery 2023-12-31 04589109 d:PlantMachinery 2022-12-31 04589109 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04589109 d:MotorVehicles 2023-01-01 2023-12-31 04589109 d:MotorVehicles 2023-12-31 04589109 d:MotorVehicles 2022-12-31 04589109 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04589109 d:FurnitureFittings 2023-01-01 2023-12-31 04589109 d:FurnitureFittings 2023-12-31 04589109 d:FurnitureFittings 2022-12-31 04589109 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04589109 d:ComputerEquipment 2023-01-01 2023-12-31 04589109 d:ComputerEquipment 2023-12-31 04589109 d:ComputerEquipment 2022-12-31 04589109 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04589109 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04589109 d:Goodwill 2023-12-31 04589109 d:Goodwill 2022-12-31 04589109 d:CurrentFinancialInstruments 2023-12-31 04589109 d:CurrentFinancialInstruments 2022-12-31 04589109 d:Non-currentFinancialInstruments 2023-12-31 04589109 d:Non-currentFinancialInstruments 2022-12-31 04589109 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04589109 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04589109 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04589109 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04589109 d:ShareCapital 2023-12-31 04589109 d:ShareCapital 2022-12-31 04589109 d:RetainedEarningsAccumulatedLosses 2023-12-31 04589109 d:RetainedEarningsAccumulatedLosses 2022-12-31 04589109 c:FRS102 2023-01-01 2023-12-31 04589109 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04589109 c:FullAccounts 2023-01-01 2023-12-31 04589109 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04589109 d:WithinOneYear 2023-12-31 04589109 d:WithinOneYear 2022-12-31 04589109 2 2023-01-01 2023-12-31 04589109 d:AcceleratedTaxDepreciationDeferredTax 2023-12-31 04589109 d:AcceleratedTaxDepreciationDeferredTax 2022-12-31 04589109 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 04589109










I. D. LLOYD & SONS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
I. D. LLOYD & SONS LIMITED
REGISTERED NUMBER: 04589109

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
-
2,395

Tangible assets
 5 
12,144
6,161

  
12,144
8,556

Current assets
  

Stocks
  
8,094
9,801

Debtors: amounts falling due within one year
 6 
366,755
556,374

Cash at bank and in hand
 7 
107,611
150,392

  
482,460
716,567

Creditors: amounts falling due within one year
 8 
(209,341)
(207,913)

Net current assets
  
 
 
273,119
 
 
508,654

Total assets less current liabilities
  
285,263
517,210

Creditors: amounts falling due after more than one year
 9 
(25,085)
(43,076)

Provisions for liabilities
  

Deferred tax
 11 
(2,811)
(1,540)

  
 
 
(2,811)
 
 
(1,540)

Net assets
  
257,367
472,594


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
257,267
472,494

  
257,367
472,594


Page 1

 
I. D. LLOYD & SONS LIMITED
REGISTERED NUMBER: 04589109
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 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: 






S D Lloyd
Director

Date: 7 March 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
I. D. LLOYD & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

I D Lloyd & Sons Limited is a company limited by shares, domiciled in England and Wales, registered number 04589109.
The registered office is Century House, The Lakes, Northampton, NN4 7HD.

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:

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

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the Statement of Income and Retained Earnings over its useful economic life.

 
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

 
I. D. LLOYD & SONS 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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
15% Straight line
Motor vehicles
-
25% Straight line
Fixtures and fittings
-
15% Straight line
Computer equipment
-
25% 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 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.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid
Page 4

 
I. D. LLOYD & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

 
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

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.

 
2.11

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

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.

 
2.13

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.

Page 5

 
I. D. LLOYD & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Interest income

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

 
2.15

Borrowing costs

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

 
2.16

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 15 (2022 - 15).

Page 6

 
I. D. LLOYD & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2023
59,880



At 31 December 2023

59,880



Amortisation


At 1 January 2023
57,485


Charge for the year on owned assets
2,395



At 31 December 2023

59,880



Net book value



At 31 December 2023
-



At 31 December 2022
2,395



Page 7

 
I. D. LLOYD & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
12,636
97,815
882
17,136
128,469


Additions
-
12,495
-
-
12,495


Disposals
-
(13,348)
-
-
(13,348)



At 31 December 2023

12,636
96,962
882
17,136
127,616



Depreciation


At 1 January 2023
11,978
93,103
882
16,345
122,308


Charge for the year on owned assets
245
5,537
-
730
6,512


Disposals
-
(13,348)
-
-
(13,348)



At 31 December 2023

12,223
85,292
882
17,075
115,472



Net book value



At 31 December 2023
413
11,670
-
61
12,144



At 31 December 2022
658
4,712
-
791
6,161


6.


Debtors

2023
2022
£
£


Trade debtors
28,633
16,944

Other debtors
142,852
178,979

Prepayments and accrued income
195,270
360,451

366,755
556,374



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
107,611
150,392


Page 8

 
I. D. LLOYD & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,648
9,648

Other loans
19,785
21,608

Trade creditors
46,396
42,519

Corporation tax
51,194
64,056

Other taxation and social security
21,477
31,590

Other creditors
46,481
24,307

Accruals and deferred income
14,360
14,185

209,341
207,913



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
17,090

Other loans
25,085
25,986

25,085
43,076


The bank loans and other loans fall due for repayment within 5 years.


10.


Financial instruments

All debtors and creditors are basic financial instruments held at amortised cost.


11.


Deferred taxation




2023
2022


£

£






At beginning of year
(1,540)
(2,863)


Charged to profit or loss
(1,271)
1,323



At end of year
(2,811)
(1,540)

Page 9

 
I. D. LLOYD & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
 
11.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(2,811)
(1,540)

(2,811)
(1,540)


12.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
-
9,037

-
9,037

 
Page 10