Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity2023-01-01false9081falsetruefalse 01016132 2023-01-01 2023-12-31 01016132 2022-01-01 2022-12-31 01016132 2023-12-31 01016132 2022-12-31 01016132 c:Director1 2023-01-01 2023-12-31 01016132 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 01016132 d:Buildings d:ShortLeaseholdAssets 2023-12-31 01016132 d:Buildings d:ShortLeaseholdAssets 2022-12-31 01016132 d:FurnitureFittings 2023-01-01 2023-12-31 01016132 d:FurnitureFittings 2023-12-31 01016132 d:FurnitureFittings 2022-12-31 01016132 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01016132 d:OfficeEquipment 2023-01-01 2023-12-31 01016132 d:OfficeEquipment 2023-12-31 01016132 d:OfficeEquipment 2022-12-31 01016132 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01016132 d:ComputerEquipment 2023-01-01 2023-12-31 01016132 d:ComputerEquipment 2023-12-31 01016132 d:ComputerEquipment 2022-12-31 01016132 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01016132 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 01016132 d:CurrentFinancialInstruments 2023-12-31 01016132 d:CurrentFinancialInstruments 2022-12-31 01016132 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01016132 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 01016132 d:ShareCapital 2023-12-31 01016132 d:ShareCapital 2022-12-31 01016132 d:RetainedEarningsAccumulatedLosses 2023-12-31 01016132 d:RetainedEarningsAccumulatedLosses 2022-12-31 01016132 c:FRS102 2023-01-01 2023-12-31 01016132 c:Audited 2023-01-01 2023-12-31 01016132 c:FullAccounts 2023-01-01 2023-12-31 01016132 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 01016132 d:WithinOneYear 2023-12-31 01016132 d:WithinOneYear 2022-12-31 01016132 c:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 01016132 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 01016132










Kings Colleges Ltd










Financial statements

Information for filing with the registrar

For the Year Ended 31 December 2023

 
Kings Colleges Ltd
Registered number: 01016132

Balance Sheet
As at 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
679,957
505,057

  
679,957
505,057

Current assets
  

Stocks
 5 
-
1,693

Debtors: amounts falling due within one year
 6 
2,050,375
3,051,571

Cash at bank and in hand
 7 
753,283
711,818

  
2,803,658
3,765,082

Creditors: amounts falling due within one year
 8 
(5,398,560)
(5,939,789)

Net current liabilities
  
 
 
(2,594,902)
 
 
(2,174,707)

Total assets less current liabilities
  
(1,914,945)
(1,669,650)

  

Net liabilities
  
(1,914,945)
(1,669,650)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(1,915,045)
(1,669,750)

  
(1,914,945)
(1,669,650)


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 profit and loss account 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: 




N F Pamplin
Director

Date: 5 September 2024

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
Kings Colleges Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

1.


General information

The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The Old Casino
28 Fourth Avenue
Hove
East Sussex
BN3 2PJ

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

Going concern

These financial statements have been prepared on the basis that the company will continue to be a
going concern. If this assumption is not considered valid, then adjustments would need to be made to
reduce the value of assets to their recoverable amount, to provide for any further liabilities that might
arise and to reclassify fixed assets and long term liabilities as current assets and liabilities.
The directors have reviewed current trading, future forecasts and the availability of cash. On the
basis of these consideration, they are satisfied the Company can continue as a going concern for the
foreseeable future and at least twelve months from the date these accounts are approved.

Page 2

 
Kings Colleges Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

For the rendering of services where a customer receives consideration over a period of more than
one day, turnover is recognised on a straight-line basis over the duration of the period of
consideration.
For the rendering of services where a customer receives all the consideration of the sale on one day,
turnover is recognised on that day.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Amounts paid and payable as an incentive to sign an operating lease are recognised as a reduction to income over the lease term on a straight-line basis, unless another systematic basis is representative of the time pattern over which the lessor's benefit from the leased asset is diminished.

 
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

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.

 
2.7

Pensions

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Page 3

 
Kings Colleges Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.8

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.

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.

 
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.

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:

Short-term leasehold property
-
over the life of the lease
Fixtures and fittings
-
20% on cost
Office equipment
-
20% on cost
Computer equipment
-
25% 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 profit or loss.

 
2.10

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. 

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.

Page 4

 
Kings Colleges Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

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

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 with 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 instruments 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, 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.

Page 5

 
Kings Colleges Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 90 (2022 - 81).


4.


Tangible fixed assets





Short-term leasehold property
Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 January 2023
751,390
515,306
-
205,471
1,472,167


Additions
128,598
7,155
20,200
105,514
261,467


Disposals
(52,079)
-
-
(84,820)
(136,899)



At 31 December 2023

827,909
522,461
20,200
226,165
1,596,735



Depreciation


At 1 January 2023
286,412
512,981
-
167,717
967,110


Charge for the year on owned assets
49,687
1,779
1,668
25,996
79,130


Disposals
(44,642)
-
-
(84,820)
(129,462)



At 31 December 2023

291,457
514,760
1,668
108,893
916,778



Net book value



At 31 December 2023
536,452
7,701
18,532
117,272
679,957



At 31 December 2022
464,978
2,325
-
37,754
505,057


There are Group loans which are secured by fixed and floating charges over the Company's assets.


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
-
1,693

-
1,693


There are Group loans which are secured by fixed and floating charges over the Company's assets.

Page 6

 
Kings Colleges Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
653,608
759,495

Amounts owed by group undertakings
1,118,903
2,160,779

Other debtors
16,231
-

Prepayments and accrued income
261,633
131,297

2,050,375
3,051,571



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
753,283
711,818

753,283
711,818



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Payments received on account
980,595
997,027

Trade creditors
115,431
77,228

Amounts owed to group undertakings
1,357,343
2,309,209

Other taxation and social security
75,526
79,941

Other creditors
279,889
332,457

Accruals
699,251
326,477

Deferred income
1,890,525
1,817,450

5,398,560
5,939,789



9.


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
£
£


Operating leases
6,372,888
6,526,405

6,372,888
6,526,405

Page 7

 
Kings Colleges Ltd
 

 
Notes to the Financial Statements
For the Year Ended 31 December 2023

10.


Related party transactions

The Company has taken advantage of the exemption in FRS 102 paragraph 33.1A from disclosing transactions with other members of the group.


11.


Controlling party

The parent of the smallest and largest group which draws up consolidated financial statements is Prime Education and Training Ltd.
The address of its registered office is:
The Old Market Unit N2
Upper Market Street
Hove
East Sussex
BN3 1AS


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2023 was unqualified.

The audit report was signed on 5 September 2024 by Christian Heeger BSc FCA (Senior Statutory Auditor) on behalf of Galloways Accounting.


Page 8