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 2006.22023-01-01falseNo description of principal activity2falsetrue 06173240 2023-01-01 2023-12-31 06173240 2022-01-01 2022-12-31 06173240 2023-12-31 06173240 2022-12-31 06173240 c:Director2 2023-01-01 2023-12-31 06173240 d:ComputerEquipment 2023-01-01 2023-12-31 06173240 d:ComputerEquipment 2023-12-31 06173240 d:ComputerEquipment 2022-12-31 06173240 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 06173240 d:CurrentFinancialInstruments 2023-12-31 06173240 d:CurrentFinancialInstruments 2022-12-31 06173240 d:Non-currentFinancialInstruments 2023-12-31 06173240 d:Non-currentFinancialInstruments 2022-12-31 06173240 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 06173240 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 06173240 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 06173240 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 06173240 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 06173240 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 06173240 d:ShareCapital 2023-12-31 06173240 d:ShareCapital 2022-12-31 06173240 d:RetainedEarningsAccumulatedLosses 2023-12-31 06173240 d:RetainedEarningsAccumulatedLosses 2022-12-31 06173240 c:FRS102 2023-01-01 2023-12-31 06173240 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06173240 c:FullAccounts 2023-01-01 2023-12-31 06173240 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

06173240







LITTLE FINLAND LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED
31 DECEMBER 2023

































LITTLE FINLAND LIMITED
REGISTERED NUMBER:06173240

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
229

  
-
229

Current assets
  

Debtors: amounts falling due within one year
 5 
7,942
30,780

Bank and cash balances
  
8,535
3,453

  
16,477
34,233

Creditors: amounts falling due within one year
 6 
(164,839)
(163,140)

Net current liabilities
  
 
 
(148,362)
 
 
(128,907)

Total assets less current liabilities
  
(148,362)
(128,678)

Creditors: amounts falling due after more than one year
 7 
(14,862)
(23,951)

  

Net liabilities
  
(163,224)
(152,629)


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(163,226)
(152,631)

  
(163,224)
(152,629)


Page 1

LITTLE FINLAND LIMITED
REGISTERED NUMBER:06173240
    
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: 




C. R. Simmons
Director

Date: 26 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

LITTLE FINLAND LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Little Finland Limited ("the company") is a private limited company, limited by shares and incorporated and domiciled in England and Wales.
The address of its registered office is Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, Kent, TN4 8BS.
The address of its principal place of business is Telham Lane, Battle, East Sussex, TN33 0SL.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

Monetary amounts in these financial statements are stated in sterling and rounded to the nearest whole £1.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has secured a bank overdraft facility in order to finance its current working capital requirements.  The bank overdraft facility is secured by fixed and floating charges over all of the assets and undertaking of Little Finland Limited. In addition, a director of the company has provided a personal guarantee regarding the facility as detailed in note 10 to the accounts.
The directors have pledged their ongoing support for the company and will provide the resources to ensure that the company continues in operational existence for the foreseeable future.  The financial statements have therefore been prepared on a going concern basis. 

 
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. 

 
2.4

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

 
2.5

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 3

LITTLE FINLAND LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Computer equipment
-
25%
straight-line

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 the Statement of Income and Retained Earnings.

 
2.6

Debtors

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

 
2.7

Financial instruments

The Company only enters into basic 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.

 
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. 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.

 
2.10

 Taxation

Tax is recognised in the Statement of Income and Retained Earnings, 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 -2).

Page 4

LITTLE FINLAND LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 January 2023
916



At 31 December 2023

916



Depreciation


At 1 January 2023
687


Charge for the year on owned assets
229



At 31 December 2023

916



Net book value



At 31 December 2023
-



At 31 December 2022
229

Page 5

LITTLE FINLAND LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
4,786
15,767

Tax recoverable
3,156
15,013

7,942
30,780



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,089
8,864

Other creditors
151,150
150,151

Accruals
4,600
4,125

164,839
163,140



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,862
23,951



8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,089
8,864


Amounts falling due 2-5 years

Bank loans
14,862
23,951


23,951
32,815


The bank loan is repayable over the course of six years at an interest rate of 2.5%. The loan is guaranteed by the UK Government under the Bounce Back Loan Scheme.  

Page 6

LITTLE FINLAND LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Related party transactions

As at the year-end, the directors were owed £129,245 (2022: £129,245) by the company.  In addition, the company owed £21,906 (2022: £20,906) to related companies.  These loans are unsecured, interest-free and repayable on demand. These loans are included within other creditors.  

 
Page 7