Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity99trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03277217 2023-01-01 2023-12-31 03277217 2022-01-01 2022-12-31 03277217 2023-12-31 03277217 2022-12-31 03277217 c:CompanySecretary1 2023-01-01 2023-12-31 03277217 c:Director1 2023-01-01 2023-12-31 03277217 c:Director2 2023-01-01 2023-12-31 03277217 c:RegisteredOffice 2023-01-01 2023-12-31 03277217 d:MotorVehicles 2023-01-01 2023-12-31 03277217 d:MotorVehicles 2023-12-31 03277217 d:MotorVehicles 2022-12-31 03277217 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03277217 d:OfficeEquipment 2023-01-01 2023-12-31 03277217 d:OfficeEquipment 2023-12-31 03277217 d:OfficeEquipment 2022-12-31 03277217 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03277217 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03277217 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03277217 d:CurrentFinancialInstruments 2023-12-31 03277217 d:CurrentFinancialInstruments 2022-12-31 03277217 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03277217 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03277217 d:ShareCapital 2023-12-31 03277217 d:ShareCapital 2022-12-31 03277217 d:CapitalRedemptionReserve 2023-12-31 03277217 d:CapitalRedemptionReserve 2022-12-31 03277217 d:RetainedEarningsAccumulatedLosses 2023-12-31 03277217 d:RetainedEarningsAccumulatedLosses 2022-12-31 03277217 c:FRS102 2023-01-01 2023-12-31 03277217 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03277217 c:FullAccounts 2023-01-01 2023-12-31 03277217 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03277217 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 03277217







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


FAST CALC LIMITED






































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FAST CALC LIMITED
 


 
COMPANY INFORMATION


Directors
B D Masters 
S J Joyce 




Company secretary
B D Masters



Registered number
03277217



Registered office
39 Baffins Road

Portsmouth

Hampshire

PO3 6BD




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


FAST CALC LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 6


 


FAST CALC LIMITED
REGISTERED NUMBER:03277217



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,003
4,005

  
3,003
4,005

Current assets
  

Stocks
  
5,568
4,520

Debtors: amounts falling due within one year
 5 
35,158
22,116

Cash at bank and in hand
  
141,594
136,119

  
182,320
162,755

Creditors: amounts falling due within one year
 6 
(63,634)
(65,765)

Net current assets
  
 
 
118,686
 
 
96,990

Total assets less current liabilities
  
121,689
100,995

  

Net assets
  
121,689
100,995

Page 1

 


FAST CALC LIMITED
REGISTERED NUMBER:03277217


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Capital and reserves
  

Called up share capital 
  
99
99

Capital redemption reserve
  
25
25

Profit and loss account
  
121,565
100,871

  
121,689
100,995


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 J Joyce
Director

Date: 20 September 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 


FAST CALC LIMITED
 


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

1.


General information

Fast Calc Limited is a private company limited by shares, registered in England. The address of its registered office is disclosed on the company information page.
The presentation currency is GBP rounded to the nearest £1.

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

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

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

 


FAST CALC LIMITED
 


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

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor Vehicles
-
25%
Reducing balance
Office Equipment
-
25%
Reducing balance
Tools & Equipment
-
25%
Reducing balance

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

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.

  
2.5

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for an forseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

 
2.6

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.

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.

Page 4

 


FAST CALC LIMITED
 


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

2.Accounting policies (continued)

 
2.7

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 9 (2022 - 9).


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
7,500
26,156
33,656



At 31 December 2023

7,500
26,156
33,656



Depreciation


At 1 January 2023
6,974
22,677
29,651


Charge for the year on owned assets
132
870
1,002



At 31 December 2023

7,106
23,547
30,653



Net book value



At 31 December 2023
394
2,609
3,003



At 31 December 2022
526
3,479
4,005

Page 5

 


FAST CALC LIMITED
 


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

5.


Debtors

2023
2022
£
£


Trade debtors
27,072
14,184

Other debtors
24
24

Prepayments and accrued income
8,062
7,908

35,158
22,116



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,461
1,395

Corporation tax
18,917
23,740

Other taxation and social security
31,771
33,500

Other creditors
9,285
4,930

Accruals and deferred income
2,200
2,200

63,634
65,765



7.


Related party transactions

Included within the creditors due within one year are amounts owed to director from the company amounting to £6,872 (2022 - £3,655). This loan is undated and interest free.

 
Page 6