Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31falseNo description of principal activity2023-01-011518truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04930449 2023-01-01 2023-12-31 04930449 2022-01-01 2022-12-31 04930449 2023-12-31 04930449 2022-12-31 04930449 2022-01-01 04930449 c:Director2 2023-01-01 2023-12-31 04930449 c:Director3 2023-01-01 2023-12-31 04930449 d:Buildings 2023-01-01 2023-12-31 04930449 d:Buildings 2023-12-31 04930449 d:Buildings 2022-12-31 04930449 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04930449 d:OfficeEquipment 2023-01-01 2023-12-31 04930449 d:OfficeEquipment 2023-12-31 04930449 d:OfficeEquipment 2022-12-31 04930449 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04930449 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04930449 d:OtherPropertyPlantEquipment 2023-12-31 04930449 d:OtherPropertyPlantEquipment 2022-12-31 04930449 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04930449 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04930449 d:Goodwill 2023-01-01 2023-12-31 04930449 d:Goodwill 2023-12-31 04930449 d:Goodwill 2022-12-31 04930449 d:CurrentFinancialInstruments 2023-12-31 04930449 d:CurrentFinancialInstruments 2022-12-31 04930449 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04930449 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04930449 d:ShareCapital 2023-12-31 04930449 d:ShareCapital 2022-12-31 04930449 d:RetainedEarningsAccumulatedLosses 2023-12-31 04930449 d:RetainedEarningsAccumulatedLosses 2022-12-31 04930449 c:FRS102 2023-01-01 2023-12-31 04930449 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04930449 c:FullAccounts 2023-01-01 2023-12-31 04930449 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 04930449 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 04930449 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 04930449 2 2023-01-01 2023-12-31 04930449 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 04930449 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 04930449














STEPHEN LOWER INSURANCE SERVICES LTD
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 DECEMBER 2023

 
STEPHEN LOWER INSURANCE SERVICES LTD
REGISTERED NUMBER:04930449

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022

FIXED ASSETS
  

Intangible assets
 4 
700,000
750,000

Tangible assets
 5 
663,105
609,433

  
1,363,105
1,359,433

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
902,598
712,428

Cash at bank and in hand
 7 
1,095,848
950,270

  
1,998,446
1,662,698

Creditors: amounts falling due within one year
 8 
(1,846,089)
(1,589,817)

NET CURRENT ASSETS
  
 
 
152,357
 
 
72,881

TOTAL ASSETS LESS CURRENT LIABILITIES
  
1,515,462
1,432,314

PROVISIONS FOR LIABILITIES
  

Deferred tax
 9 
(14,549)
(6,549)

  
 
 
(14,549)
 
 
(6,549)

NET ASSETS
  
£1,500,913
£1,425,765


CAPITAL AND RESERVES
  

Called up share capital 
  
100
100

Profit and loss account
  
1,500,813
1,425,665

  
£1,500,913
£1,425,765


Page 1

 
STEPHEN LOWER INSURANCE SERVICES LTD
REGISTERED NUMBER:04930449

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 on 24 September 2024.




................................................
P M Plews
................................................
S E Plews
Director
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
STEPHEN LOWER INSURANCE SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The company is a private limited company incorporated in England and Wales. The registered office of the company is 145 New Dover Road, Capel-le-Ferne, Folkestone, Kent, CT18 7JR.

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

Interest income

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

 
2.4

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.

 
2.5

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 3

 
STEPHEN LOWER INSURANCE SERVICES LTD
 

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

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 The estimated useful lives range as follows:

Goodwill
-
20
years

 
2.8

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 4

 
STEPHEN LOWER INSURANCE SERVICES LTD
 

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

2.Accounting policies (continued)


2.8
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:

Office equipment
-
20%
Other fixed assets
-
20%

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 15 (2022 -18).

Page 5

 
STEPHEN LOWER INSURANCE SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Goodwill



Cost


At 1 January 2023
1,000,000



At 31 December 2023

1,000,000



Amortisation


At 1 January 2023
250,000


Charge for the year on owned assets
50,000



At 31 December 2023

300,000



Net book value



At 31 December 2023
£700,000



At 31 December 2022
£750,000




5.


Tangible fixed assets





Freehold property
Office equipment
Other fixed assets
Total



Cost or valuation


At 1 January 2023
555,241
206,291
35,000
796,532


Additions
49,673
42,499
-
92,172



At 31 December 2023

604,914
248,790
35,000
888,704



Depreciation


At 1 January 2023
-
180,099
7,000
187,099


Charge for the year on owned assets
-
10,501
27,999
38,500



At 31 December 2023

-
190,600
34,999
225,599



Net book value



At 31 December 2023
£604,914
£58,190
£1
£663,105



At 31 December 2022
£555,241
£26,192
£28,000
£609,433

Page 6

 
STEPHEN LOWER INSURANCE SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022


Trade debtors
496,629
433,175

Other debtors
386,929
276,249

Prepayments and accrued income
19,040
3,004

£902,598
£712,428



7.


Cash and cash equivalents

2023
2022

Cash at bank and in hand
£1,095,848
£950,270



8.


Creditors: Amounts falling due within one year

2023
2022

Trade creditors
1,329,994
1,123,183

Amounts owed to group undertakings
190,886
190,886

Corporation tax
188,583
135,975

Other taxation and social security
8,768
14,670

Other creditors
2,484
-

Accruals and deferred income
125,374
125,103

£1,846,089
£1,589,817



9.


Deferred taxation




2023
2022





At beginning of year
6,549
3,490


Charged to profit or loss
8,000
3,059



At end of year
£14,549
£6,549

The provision for deferred taxation is made up as follows:

2023
2022


Accelerated capital allowances
14,549
6,549

£14,549
£6,549

Page 7

 
STEPHEN LOWER INSURANCE SERVICES LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Pension commitments

The company operates a defined conbtributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The total pension cost of the company amounted to £73,474 (2022 - £131,758). 


11.
Ultimate parent undertaking and controlling party

At the balance sheet date, the immediate parent undertaking is Stephen Lower Insurance Services Holdings Limited, a company incorporated in England and Wales. 
Stephen Lower Insurance Services Limited is the controlling party of the company.
Mr and Mrs Plews are the ultimate controlling party of the company. The controlling party of the parent undertaking is Mr and Mrs Plews..
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.


Page 8