Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity1715falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03469245 2023-01-01 2023-12-31 03469245 2022-01-01 2022-12-31 03469245 2023-12-31 03469245 2022-12-31 03469245 c:Director3 2023-01-01 2023-12-31 03469245 d:MotorVehicles 2023-01-01 2023-12-31 03469245 d:MotorVehicles 2023-12-31 03469245 d:MotorVehicles 2022-12-31 03469245 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03469245 d:FurnitureFittings 2023-01-01 2023-12-31 03469245 d:FurnitureFittings 2023-12-31 03469245 d:FurnitureFittings 2022-12-31 03469245 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03469245 d:OfficeEquipment 2023-01-01 2023-12-31 03469245 d:OfficeEquipment 2023-12-31 03469245 d:OfficeEquipment 2022-12-31 03469245 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03469245 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03469245 d:Goodwill 2023-01-01 2023-12-31 03469245 d:Goodwill 2023-12-31 03469245 d:Goodwill 2022-12-31 03469245 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 03469245 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 03469245 d:CurrentFinancialInstruments 2023-12-31 03469245 d:CurrentFinancialInstruments 2022-12-31 03469245 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03469245 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03469245 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03469245 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03469245 d:ShareCapital 2023-12-31 03469245 d:ShareCapital 2022-12-31 03469245 d:RetainedEarningsAccumulatedLosses 2023-12-31 03469245 d:RetainedEarningsAccumulatedLosses 2022-12-31 03469245 c:FRS102 2023-01-01 2023-12-31 03469245 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03469245 c:FullAccounts 2023-01-01 2023-12-31 03469245 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03469245 d:CopyrightsPatentsTrademarksServiceOperatingRights d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 03469245 d:ComputerSoftware d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 03469245 2 2023-01-01 2023-12-31 03469245 d:InternallyGeneratedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03469245









PUBLIC SECTOR INFORMATION LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
PUBLIC SECTOR INFORMATION LIMITED
REGISTERED NUMBER: 03469245

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
3,750
-

Tangible assets
 5 
39,113
45,252

  
42,863
45,252

Current assets
  

Debtors: amounts falling due within one year
 6 
943,832
785,693

Cash at bank and in hand
 7 
323,677
430,479

  
1,267,509
1,216,172

Creditors: amounts falling due within one year
 8 
(1,018,261)
(864,990)

Net current assets
  
 
 
249,248
 
 
351,182

Total assets less current liabilities
  
292,111
396,434

Creditors: amounts falling due after more than one year
  
(138,750)
(183,750)

  

Net assets
  
153,361
212,684


Capital and reserves
  

Called up share capital 
  
130
130

Profit and loss account
  
153,231
212,554

  
153,361
212,684


Page 1

 
PUBLIC SECTOR INFORMATION LIMITED
REGISTERED NUMBER: 03469245
    
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 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 on 6 September 2024.




J W Devoto
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Public Sector Information Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 03469245. The address of the registered office is 226 High Road, Loughton, Essex, IG10 1ET. 

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

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

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.

 
2.4

Interest income

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

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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.

 
2.8

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 Comprehensive Income over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
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.

Page 4

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.9
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 basis
Fixtures and fittings
-
25%
reducing balance basis
Office equipment
-
25%
reducing balance basis

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

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.

 
2.11

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.

 
2.12

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.

Page 5

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet 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.

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.

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
Page 6

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

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.

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.

 
2.14

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 17 (2022 - 15).

Page 7

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Trademarks
Goodwill
Total

£
£
£



Cost


At 1 January 2023
-
318,462
318,462


Additions - internal
3,750
-
3,750



At 31 December 2023

3,750
318,462
322,212



Amortisation


At 1 January 2023
-
318,462
318,462



At 31 December 2023

-
318,462
318,462



Net book value



At 31 December 2023
3,750
-
3,750



At 31 December 2022
-
-
-



Page 8

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
15,871
17,727
227,918
261,516


Additions
-
-
5,847
5,847



At 31 December 2023

15,871
17,727
233,765
267,363



Depreciation


At 1 January 2023
10,189
17,601
188,473
216,263


Charge for the year on owned assets
1,420
32
10,535
11,987



At 31 December 2023

11,609
17,633
199,008
228,250



Net book value



At 31 December 2023
4,262
94
34,757
39,113



At 31 December 2022
5,682
126
39,445
45,253


6.


Debtors

2023
2022
£
£


Trade debtors
722,443
538,296

Other debtors
126,955
189,592

Prepayments and accrued income
94,434
57,805

943,832
785,693



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
323,677
430,479

323,677
430,479


Page 9

 
PUBLIC SECTOR INFORMATION LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
91,704
123,376

Corporation tax
57,175
73,391

Other taxation and social security
133,350
93,458

Other creditors
26,147
19,958

Accruals and deferred income
709,885
554,807

1,018,261
864,990



9.


Related party transactions

At year end the following amounts were due from/(to) related parties


2023
2022
£
£

Key management personnel
86,583
150,548
86,583
150,548


10.


Controlling party

The ultimate controlling party is D Devoto by virtue of shareholding.

 
Page 10