Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseNo description of principal activity11falsetruefalse SC077169 2023-01-01 2023-12-31 SC077169 2022-01-01 2022-12-31 SC077169 2023-12-31 SC077169 2022-12-31 SC077169 c:Director1 2023-01-01 2023-12-31 SC077169 c:RegisteredOffice 2023-01-01 2023-12-31 SC077169 d:FurnitureFittings 2023-01-01 2023-12-31 SC077169 d:FurnitureFittings 2023-12-31 SC077169 d:FurnitureFittings 2022-12-31 SC077169 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 SC077169 d:CurrentFinancialInstruments 2023-12-31 SC077169 d:CurrentFinancialInstruments 2022-12-31 SC077169 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 SC077169 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 SC077169 d:ShareCapital 2023-12-31 SC077169 d:ShareCapital 2022-12-31 SC077169 d:RevaluationReserve 2023-12-31 SC077169 d:RevaluationReserve 2022-12-31 SC077169 d:RetainedEarningsAccumulatedLosses 2023-12-31 SC077169 d:RetainedEarningsAccumulatedLosses 2022-12-31 SC077169 c:OrdinaryShareClass2 2023-01-01 2023-12-31 SC077169 c:OrdinaryShareClass2 2023-12-31 SC077169 c:OrdinaryShareClass2 2022-12-31 SC077169 c:OrdinaryShareClass3 2023-01-01 2023-12-31 SC077169 c:OrdinaryShareClass3 2023-12-31 SC077169 c:OrdinaryShareClass3 2022-12-31 SC077169 c:OrdinaryShareClass4 2023-01-01 2023-12-31 SC077169 c:OrdinaryShareClass4 2023-12-31 SC077169 c:OrdinaryShareClass4 2022-12-31 SC077169 c:OrdinaryShareClass5 2023-01-01 2023-12-31 SC077169 c:OrdinaryShareClass5 2023-12-31 SC077169 c:OrdinaryShareClass5 2022-12-31 SC077169 c:FRS102 2023-01-01 2023-12-31 SC077169 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 SC077169 c:FullAccounts 2023-01-01 2023-12-31 SC077169 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC077169 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC077169










ITKEN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

 
ITKEN LIMITED
 

COMPANY INFORMATION


Director
J M Jasper 




Registered number
SC077169



Registered office
Pentland House
Saltire Centre

Glenrothes

Fife

KY6 2AH




Accountants
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
ITKEN LIMITED
REGISTERED NUMBER: SC077169

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
5
7

Fixed Asset Investments
 5 
690,000
690,000

  
690,005
690,007

Current assets
  

Debtors Within One Year
 6 
9,864
3,413

Cash at bank and in hand
  
47,847
49,488

  
57,711
52,901

Creditors: Amounts Falling Due Within One Year
 7 
(10,056)
(5,007)

Net current assets
  
 
 
47,655
 
 
47,894

Total assets less current liabilities
  
737,660
737,901

Provisions for liabilities
  

Deferred tax
  
(108,240)
(108,241)

  
 
 
(108,240)
 
 
(108,241)

Net assets
  
629,420
629,660


Capital and reserves
  

Called up share capital 
 8 
100
100

Revaluation reserve
  
516,960
516,960

Profit and loss account
  
112,360
112,600

  
629,420
629,660


Page 1

 
ITKEN LIMITED
REGISTERED NUMBER: SC077169

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

The director considers 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 director acknowledges her 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 comprehensive income 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: 




J M Jasper
Director

Date: 17 September 2024

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

Page 2

 
ITKEN LIMITED
 

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

1.


General information

Itken Limited is a private company, limited by shares, incorporated in Scotland, registration number SC077169. The registered office is Pentland House, Saltire Centre, Glenrothes, Fife, KY6 2AH.
The financial statements are presented in Sterling, which is the functional currency of the company, and presented to the nearest £.

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

Rental Income

Rental income  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. Rental income  is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.

 
2.3

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 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 3

 
ITKEN LIMITED
 

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

2.Accounting policies (continued)

 
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.

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:

Fixtures and fittings
-
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.

  
2.5

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 4

 
ITKEN LIMITED
 

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

4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 January 2023
3,800



At 31 December 2023

3,800



Depreciation


At 1 January 2023
3,793


Charge for the year on owned assets
2



At 31 December 2023

3,795



Net book value



At 31 December 2023
5



At 31 December 2022
7


5.


Fixed asset investments





Investment property

£



Cost or valuation


At 1 January 2023
690,000



At 31 December 2023
690,000




The properties were revalued in February 2021 by Falconer Property Consultants by way of a drive by valuation.


6.


Debtors

2023
2022
£
£


Prepayments and accrued income
9,864
3,413

9,864
3,413


Page 5

 
ITKEN LIMITED
 

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

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
4,504
845

Other creditors
1,882
1,855

Accruals and deferred income
3,670
2,307

10,056
5,007



8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



55 (2022 - 55) Ordinary A shares of £1.00 each
55
55
15 (2022 - 15) Ordinary B shares of £1.00 each
15
15
15 (2022 - 15) Ordinary C shares of £1.00 each
15
15
15 (2022 - 15) Ordinary D shares of £1.00 each
15
15

100

100



Page 6