Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseprovision of specialist digital solutions to the automotive industry.146truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 13916564 2023-01-01 2023-12-31 13916564 2022-02-15 2022-12-31 13916564 2023-12-31 13916564 2022-12-31 13916564 c:Director2 2023-01-01 2023-12-31 13916564 d:PlantMachinery 2023-01-01 2023-12-31 13916564 d:PlantMachinery 2023-12-31 13916564 d:PlantMachinery 2022-12-31 13916564 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13916564 d:MotorVehicles 2023-01-01 2023-12-31 13916564 d:MotorVehicles 2023-12-31 13916564 d:MotorVehicles 2022-12-31 13916564 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13916564 d:FurnitureFittings 2023-01-01 2023-12-31 13916564 d:FurnitureFittings 2023-12-31 13916564 d:FurnitureFittings 2022-12-31 13916564 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13916564 d:OfficeEquipment 2023-01-01 2023-12-31 13916564 d:OfficeEquipment 2023-12-31 13916564 d:OfficeEquipment 2022-12-31 13916564 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13916564 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 13916564 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 13916564 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 13916564 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 13916564 d:Goodwill 2023-01-01 2023-12-31 13916564 d:Goodwill 2023-12-31 13916564 d:Goodwill 2022-12-31 13916564 d:CurrentFinancialInstruments 2023-12-31 13916564 d:CurrentFinancialInstruments 2022-12-31 13916564 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13916564 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 13916564 d:ShareCapital 2023-12-31 13916564 d:ShareCapital 2022-12-31 13916564 d:RetainedEarningsAccumulatedLosses 2023-12-31 13916564 d:RetainedEarningsAccumulatedLosses 2022-12-31 13916564 c:FRS102 2023-01-01 2023-12-31 13916564 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 13916564 c:FullAccounts 2023-01-01 2023-12-31 13916564 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 13916564 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 13916564 d:Goodwill d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 13916564 2 2023-01-01 2023-12-31 13916564 d:ExternallyAcquiredIntangibleAssets 2023-01-01 2023-12-31 13916564 d:Goodwill d:OwnedIntangibleAssets 2023-01-01 2023-12-31 13916564 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 13916564






HUDSON KAPEL 101 LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










img4228.png

 
HUDSON KAPEL 101 LIMITED
REGISTERED NUMBER:13916564

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
261,014
143,111

Tangible assets
 5 
150,433
31,390

  
411,447
174,501

Current assets
  

Debtors: amounts falling due within one year
 6 
827,950
480,734

Cash at bank and in hand
 7 
3,018,718
952,635

  
3,846,668
1,433,369

Creditors: amounts falling due within one year
 8 
(2,582,693)
(1,411,895)

Net current assets
  
 
 
1,263,975
 
 
21,474

Total assets less current liabilities
  
1,675,422
195,975

  

Net assets
  
1,675,422
195,975


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,675,322
195,875

  
1,675,422
195,975


Page 1

 
HUDSON KAPEL 101 LIMITED
REGISTERED NUMBER:13916564
    
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 by: 




S Withey
Director

Date: 25 September 2024

Page 2

 
HUDSON KAPEL 101 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Hudson Kapel 101 Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Building 101, Thurleigh Airfield Business Park, Thurleigh, Bedfordshire, MK44 2YP.

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

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

Interest income

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

Page 3

 
HUDSON KAPEL 101 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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 Income and Retained Earnings 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.

 The estimated useful lives range as follows:

Development expenditure
-
3
years

Page 4

 
HUDSON KAPEL 101 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
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.

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

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Motor vehicles
-
33%
reducing balance
Fixtures and fittings
-
33%
reducing balance
Office equipment
-
33%
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.

 
2.10

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.

 
2.13

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 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,
Page 5

 
HUDSON KAPEL 101 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

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.

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 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 14 (2022 -6).

Page 6

 
HUDSON KAPEL 101 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Development expenditure
Goodwill
Total

£
£
£



Cost


At 1 January 2023
55,739
100,000
155,739


Additions
184,756
-
184,756



At 31 December 2023

240,495
100,000
340,495



Amortisation


At 1 January 2023
2,628
10,000
12,628


Charge for the year on owned assets
56,854
9,999
66,853



At 31 December 2023

59,482
19,999
79,481



Net book value



At 31 December 2023
181,013
80,001
261,014



At 31 December 2022
53,111
90,000
143,111



Page 7

 
HUDSON KAPEL 101 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
20,379
-
-
14,675
35,054


Additions
12,263
73,610
38,284
17,681
141,838



At 31 December 2023

32,642
73,610
38,284
32,356
176,892



Depreciation


At 1 January 2023
1,156
-
-
2,508
3,664


Charge for the year on owned assets
6,488
6,809
3,226
6,272
22,795



At 31 December 2023

7,644
6,809
3,226
8,780
26,459



Net book value



At 31 December 2023
24,998
66,801
35,058
23,576
150,433



At 31 December 2022
19,223
-
-
12,167
31,390

Page 8

 
HUDSON KAPEL 101 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
783,963
281,378

Other debtors
27,335
196,023

Prepayments and accrued income
16,652
3,333

827,950
480,734



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
3,018,718
952,635

3,018,718
952,635



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
130,214
165,885

Other taxation and social security
582,966
88,025

Other creditors
1,680,021
1,150,460

Accruals and deferred income
189,492
7,525

2,582,693
1,411,895



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £8,493 (2022: £5,800). Contributions totalling £3,117 (2022: £1,663) were payable to the fund at the balance sheet date and are included in creditors.

 
Page 9