Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-3142023-01-01falseOnline media activities5truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09306540 2023-01-01 2023-12-31 09306540 1 2023-01-01 2023-12-31 09306540 2022-01-01 2022-12-31 09306540 2023-12-31 09306540 2022-12-31 09306540 2022-01-01 09306540 d:Director5 2023-01-01 2023-12-31 09306540 c:CurrentFinancialInstruments 2023-12-31 09306540 c:CurrentFinancialInstruments 2022-12-31 09306540 c:Non-currentFinancialInstruments 2023-12-31 09306540 c:Non-currentFinancialInstruments 2022-12-31 09306540 c:CurrentFinancialInstruments c:WithinOneYear 2023-12-31 09306540 c:CurrentFinancialInstruments c:WithinOneYear 2022-12-31 09306540 c:Non-currentFinancialInstruments c:AfterOneYear 2023-12-31 09306540 c:Non-currentFinancialInstruments c:AfterOneYear 2022-12-31 09306540 c:ShareCapital 2023-12-31 09306540 c:ShareCapital 2022-12-31 09306540 c:ShareCapital 2022-01-01 09306540 c:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09306540 c:RetainedEarningsAccumulatedLosses 2023-12-31 09306540 c:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09306540 c:RetainedEarningsAccumulatedLosses 2022-12-31 09306540 c:RetainedEarningsAccumulatedLosses 2022-01-01 09306540 d:OrdinaryShareClass1 2023-01-01 2023-12-31 09306540 d:OrdinaryShareClass1 2023-12-31 09306540 d:OrdinaryShareClass1 2022-12-31 09306540 d:OrdinaryShareClass2 2023-01-01 2023-12-31 09306540 d:OrdinaryShareClass2 2023-12-31 09306540 d:OrdinaryShareClass2 2022-12-31 09306540 d:OrdinaryShareClass3 2023-01-01 2023-12-31 09306540 d:OrdinaryShareClass3 2023-12-31 09306540 d:OrdinaryShareClass3 2022-12-31 09306540 d:OrdinaryShareClass4 2023-01-01 2023-12-31 09306540 d:OrdinaryShareClass4 2023-12-31 09306540 d:OrdinaryShareClass4 2022-12-31 09306540 d:OrdinaryShareClass5 2023-01-01 2023-12-31 09306540 d:OrdinaryShareClass5 2023-12-31 09306540 d:OrdinaryShareClass5 2022-12-31 09306540 d:FRS102 2023-01-01 2023-12-31 09306540 d:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09306540 d:FullAccounts 2023-01-01 2023-12-31 09306540 d:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09306540 c:WithinOneYear 2023-12-31 09306540 c:WithinOneYear 2022-12-31 09306540 c:BetweenOneFiveYears 2023-12-31 09306540 c:BetweenOneFiveYears 2022-12-31 09306540 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09306540









ON THE TOOLS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ON THE TOOLS LTD
REGISTERED NUMBER: 09306540

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
429,843
490,555

Cash at bank and in hand
  
53,346
21,783

  
483,189
512,338

Creditors: amounts falling due within one year
 5 
(135,725)
(106,129)

Net current assets
  
 
 
347,464
 
 
406,209

Total assets less current liabilities
  
347,464
406,209

Creditors: amounts falling due after more than one year
 6 
(78,852)
(134,513)

  

Net assets
  
268,612
271,696


Capital and reserves
  

Called up share capital 
 7 
100
100

Profit and loss account
  
268,512
271,596

  
268,612
271,696


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 20 September 2024.




Mr L Wilcox
Page 1

 
ON THE TOOLS LTD
REGISTERED NUMBER: 09306540
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

Director

The notes on pages 4 to 7 form part of these financial statements.

Page 2

 
ON THE TOOLS LTD
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
100
279,976
280,076


Comprehensive income for the year

Loss for the year
-
(8,380)
(8,380)



At 1 January 2023
100
271,596
271,696


Comprehensive income for the year

Loss for the year
-
(3,084)
(3,084)


At 31 December 2023
100
268,512
268,612


The notes on pages 4 to 7 form part of these financial statements.

Page 3

 
ON THE TOOLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

On The Tools Ltd, is a private company, limited by shares, registered in England and Wales. The Company's registered office address is 416, Fort Dunlop, Fort Parkway, Birmingham, B24, 9FD. The Company registration number is 09306540.

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

Transaction and balances

Functional and presentation currency

The Company's functional and presentational currency is GBP. Monetary amounts in these financial statements are rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction 

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

 
2.3

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.

Page 4

 
ON THE TOOLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of Comprehensive Income on a straight-line basis over the lease term.

 
2.5

Finance costs

Finance costs are charged to the Statement of Comprehensive Income 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

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.8

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.

 
2.9

Creditors

Short-term creditors are measured at the transaction price.

  
2.10

Financial instruments

The Company only enters into basis financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2022 - 5).

Page 5

 
ON THE TOOLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Debtors

2023
2022
£
£


Trade debtors
84,000
82,430

Amounts owed by group undertakings
340,451
392,284

Other debtors
5,392
15,841

429,843
490,555



5.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loan
55,660
55,660

Trade creditors
72,680
41,478

Other creditors
6,243
6,241

Accruals and deferred income
1,142
2,750

135,725
106,129


Secured Loans
The bank loan is secured by a fixed and floating charge over the assets of the company.


6.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loan
78,852
134,513


Secured Loans
The bank loan is secured by a fixed and floating charge over the assets of the company.

Page 6

 
ON THE TOOLS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Share capital

2023
2022
£
£
Authorised, allotted, called up and fully paid



22 (2022 - 22) A Ordinary shares of £1.00 each
22
22
22 (2022 - 22) B Ordinary shares of £1.00 each
22
22
23 (2022 - 23) C Ordinary shares of £1.00 each
23
23
14 (2022 - 14) D Ordinary shares of £1.00 each
14
14
19 (2022 - 19) E Ordinary shares of £1.00 each
19
19

100

100



8.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
133,951
146,128

Later than 1 year and not later than 5 years
-
133,951

133,951
280,079


9.Other financial commitments

A group VAT registration is in force. The company is jointly and severally liable for the amount of VAT owed by Electric House Group Limited. At the balance sheet date, this amounted to £156,855 (2022: £167,466). VAT is up to date and has been paid post year end.


10.


Related party transactions

The Company has taken advantage of the exemption not to disclose transactions entered into between two members of a group provided that any subsidiary which is a party to the transaction is wholly owned.


11.


Parent company

The Company is controlled by its parent Company, Electric House Group Limited, which owns 100% of the issued share capital. The parent's registered office address is 416 Fort Dunlop, Fort Parkway, Birmingham, West Midlands, B24 9FD. There is no single controlling party of the parent Company Electric House Group Limited.

 
Page 7