Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3142023-01-01falseNo description of principal activity4truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03594215 2023-01-01 2023-12-31 03594215 2022-01-01 2022-12-31 03594215 2023-12-31 03594215 2022-12-31 03594215 c:CompanySecretary1 2023-01-01 2023-12-31 03594215 c:Director1 2023-01-01 2023-12-31 03594215 c:Director2 2023-01-01 2023-12-31 03594215 c:Director3 2023-01-01 2023-12-31 03594215 c:Director4 2023-01-01 2023-12-31 03594215 c:Director4 2023-12-31 03594215 c:RegisteredOffice 2023-01-01 2023-12-31 03594215 d:FurnitureFittings 2023-01-01 2023-12-31 03594215 d:FurnitureFittings 2023-12-31 03594215 d:FurnitureFittings 2022-12-31 03594215 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03594215 d:CurrentFinancialInstruments 2023-12-31 03594215 d:CurrentFinancialInstruments 2022-12-31 03594215 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03594215 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03594215 d:ShareCapital 2023-12-31 03594215 d:ShareCapital 2022-12-31 03594215 d:RetainedEarningsAccumulatedLosses 2023-12-31 03594215 d:RetainedEarningsAccumulatedLosses 2022-12-31 03594215 c:FRS102 2023-01-01 2023-12-31 03594215 c:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03594215 c:FullAccounts 2023-01-01 2023-12-31 03594215 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03594215 6 2023-01-01 2023-12-31 03594215 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 03594215







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


SCTE LIMITED






































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SCTE LIMITED
 


 
COMPANY INFORMATION


Directors
C Swires 
A Basham 
P J Sealey 
D L Hodges (appointed 8 November 2023)




Company secretary
B K Walker



Registered number
03594215



Registered office
Communications House
41a Market Street

Watford

Herts

WD18 0PN




Accountants
Menzies LLP
Chartered Accountants

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


SCTE LIMITED
 



CONTENTS



Page
Accountants' Report
1
Statement of Financial Position
2
Notes to the Financial Statements
3 - 7


 


SCTE LIMITED
 

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CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SCTE LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SCTE Limited for the year ended 31 December 2023 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given to us.
 

As a member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at:
www.icaew.com/en/members/regulations-standards-and-guidance/.


This report is made solely to the Board of Directors of SCTE Limited, as a body, in accordance with the terms of our engagement letter dated 6 June 2023Our work has been undertaken solely to prepare for your approval the financial statements of SCTE Limited and state those matters that we have agreed to state to the Board of Directors of SCTE Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SCTE Limited and its Board of Directors, as a body, for our work or for this report.
 
 
It is your duty to ensure that SCTE Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the Company's assets, liabilities, financial position and profit. You consider that SCTE Limited is exempt from the statutory audit requirement for the year.
 
 
We have not been instructed to carry out an audit or review of the financial statements of SCTE Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.




$AccRepSigner

Menzies LLP
 
Chartered Accountants
  
Lynton House
7-12 Tavistock Square
London
WC1H 9LT


17 September 2024
$AccRepSignerDate

Page 1

 


SCTE LIMITED
REGISTERED NUMBER:03594215



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
  
659
1,336

Investments
 6 
24,080
24,080

  
24,739
25,416

Current assets
  

Debtors: amounts falling due within one year
 7 
373,657
328,096

Cash at bank and in hand
  
295,723
173,753

  
669,380
501,849

Creditors: amounts falling due within one year
 8 
(121,990)
(251,228)

Net current assets
  
 
 
547,390
 
 
250,621

Total assets less current liabilities
  
572,129
276,037

  

Net assets
  
572,129
276,037


Capital and reserves
  

Called up share capital 
  
500
500

Profit and loss account
  
571,629
275,537

  
572,129
276,037


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: 


P J Sealey
Director
Date: 17 September 2024

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 


SCTE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

SCTE Limited is a private company limited by shares, incorporated in England and Wales under the Companies Act 2006. The address of its registered office is disclosed on the company information page.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

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:

 
2.3

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:

Fixtures and fittings
-
3 years

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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 3

 


SCTE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

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

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

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.

Page 4

 


SCTE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Financial instruments (continued)

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.

Other financial instruments

Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss.

Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Parent company profit for the year

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 Income and Retained Earnings in these financial statements. The profit after tax of the parent Company for the year was £296,092NIL (2022 - £334,739).

Page 5

 


SCTE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
4,062



At 31 December 2023

4,062



Depreciation


At 1 January 2023
2,726


Charge for the year on owned assets
677



At 31 December 2023

3,403



Net book value



At 31 December 2023
659



At 31 December 2022
1,336

Page 6

 


SCTE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2023
24,080



At 31 December 2023
24,080




On 29 November 2023, the members of the International Broadcasting Convention agreed to convert this partnership to an LLP. Their interests were exchanged to become a member of the International Broadcasting Convention LLP. All trade and assets were transferred to this entity on 31 December 2023.


7.


Debtors

2023
2022
£
£


Trade debtors
17,313
17,522

Other debtors
354,838
309,162

Prepayments and accrued income
1,506
1,412

373,657
328,096



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
11,706
2,776

Amounts owed to group undertakings
1,655
151,545

Corporation tax
93,552
80,203

Other taxation and social security
2,052
1,248

Accruals and deferred income
13,025
15,456

121,990
251,228



9.
 

Parent Company

Society of Cable Telecommunications Engineers is the parent company forming a small group. As such there are no group financial statements available. The registered address of the parent company is Communications House, 41A Market Street, Watford, Hertfordshire, WD18 0PN.

 
Page 7