Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseNo description of principal activity4680truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11692818 2023-01-01 2023-12-31 11692818 2022-01-01 2022-12-31 11692818 2023-12-31 11692818 2022-12-31 11692818 c:Director6 2023-01-01 2023-12-31 11692818 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 11692818 d:Buildings d:LongLeaseholdAssets 2023-12-31 11692818 d:Buildings d:LongLeaseholdAssets 2022-12-31 11692818 d:OfficeEquipment 2023-01-01 2023-12-31 11692818 d:OfficeEquipment 2023-12-31 11692818 d:OfficeEquipment 2022-12-31 11692818 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11692818 d:ComputerEquipment 2023-01-01 2023-12-31 11692818 d:ComputerEquipment 2023-12-31 11692818 d:ComputerEquipment 2022-12-31 11692818 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11692818 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11692818 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 11692818 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 11692818 d:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 11692818 d:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 11692818 d:ComputerSoftware 2023-01-01 2023-12-31 11692818 d:ComputerSoftware 2023-12-31 11692818 d:ComputerSoftware 2022-12-31 11692818 d:CurrentFinancialInstruments 2023-12-31 11692818 d:CurrentFinancialInstruments 2022-12-31 11692818 d:Non-currentFinancialInstruments 2023-12-31 11692818 d:Non-currentFinancialInstruments 2022-12-31 11692818 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11692818 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11692818 d:ShareCapital 2023-12-31 11692818 d:ShareCapital 2022-12-31 11692818 d:SharePremium 2023-01-01 2023-12-31 11692818 d:SharePremium 2023-12-31 11692818 d:SharePremium 2022-12-31 11692818 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11692818 d:RetainedEarningsAccumulatedLosses 2023-12-31 11692818 d:RetainedEarningsAccumulatedLosses 2022-12-31 11692818 c:FRS102 2023-01-01 2023-12-31 11692818 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11692818 c:FullAccounts 2023-01-01 2023-12-31 11692818 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11692818 d:Subsidiary1 2023-01-01 2023-12-31 11692818 d:Subsidiary1 1 2023-01-01 2023-12-31 11692818 2 2023-01-01 2023-12-31 11692818 6 2023-01-01 2023-12-31 11692818 7 2023-01-01 2023-12-31 11692818 d:CopyrightsPatentsTrademarksServiceOperatingRights d:OwnedIntangibleAssets 2023-01-01 2023-12-31 11692818 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 11692818 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11692818









ELECTRIC HOUSE GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ELECTRIC HOUSE GROUP LIMITED
REGISTERED NUMBER: 11692818

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
44,690
63,466

Tangible assets
 5 
193,640
287,187

Investments
 6 
100
175

  
238,430
350,828

Current assets
  

Debtors: amounts falling due after more than one year
 7 
-
2,333

Debtors: amounts falling due within one year
 7 
573,737
618,816

Cash at bank and in hand
  
119,299
550,880

  
693,036
1,172,029

Creditors: amounts falling due within one year
 8 
(1,576,168)
(1,167,175)

Net current (liabilities)/assets
  
 
 
(883,132)
 
 
4,854

Total assets less current liabilities
  
(644,702)
355,682

Provisions for liabilities
  

Deferred tax
  
(36,790)
(54,565)

Net (liabilities)/assets
  
(681,492)
301,117


Capital and reserves
  

Called up share capital 
 9 
111
117

Share premium account
 10 
1,074,972
999,984

Profit and loss account
 10 
(1,756,575)
(698,984)

  
(681,492)
301,117


Page 1

 
ELECTRIC HOUSE GROUP LIMITED
REGISTERED NUMBER: 11692818
    
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 20 September 2024.




Mr L Wilcox
Director

The notes on pages 3 to 13 form part of these financial statements.

Page 2

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Electric House Group Limited, is a private company, limited by shares, registered in England and Wales. The company's registered office address is 102, Fort Dunlop, Fort Parkway, Birmingham, B24, 9FD. The company registration number is 11692818.

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

Financial Reporting Standard 102 - reduced disclosure exemptions

The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
the requirements of Section 33 Related Party Disclosures paragraph 33.7.

This permits the company to not disclose transactions entered into between two members of a group provided that any subsidiary which is a party to the transaction is wholly owned.

 
2.3

Exemption from preparing consolidated financial statements

The Company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by section 402 of the Companies Act 2006.

 
2.4

Foreign currency translation

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 Statement of Comprehensive Income.

Page 3

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.5

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.

 
2.6

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.

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.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to the Statement of Comprehensive Income at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.8

Interest income

Interest income is recognised in the Statement of Comprehensive Income using the effective interest method.

Page 4

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

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 the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in other creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred 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.

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.

 
2.11

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.

 The estimated useful lives range as follows:

Website development
-
15
years
Trademarks
-
15
years

Page 5

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.12

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 provided on the following basis:

Leasehold property improvements
-
20% straight line
Office equipment
-
15% reducing balance
Computer equipment
-
33% 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 Comprehensive Income.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the Statement of Comprehensive Income.

 
2.14

Debtors

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

 
2.15

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.

 
2.16

Creditors

Short-term creditors are measured at the transaction price.

 
2.17

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet date.

Page 6

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

  
2.18

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

 
2.19

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, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 46 (2022 - 80).

Page 7

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Intangible assets




Trademarks
Website develop-ment
Total

£
£
£



Cost


At 1 January 2023
3,866
67,387
71,253


Disposals
(1,379)
(15,000)
(16,379)



At 31 December 2023

2,487
52,387
54,874



Amortisation


At 1 January 2023
604
7,183
7,787


Charge for the year
309
4,726
5,035


On disposals
(263)
(2,375)
(2,638)



At 31 December 2023

650
9,534
10,184



Net book value



At 31 December 2023
1,837
42,853
44,690



At 31 December 2022
3,262
60,204
63,466



Page 8

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Leasehold property improve-ments
Office equipment
Computer equipment
Total

£
£
£
£



Cost


At 1 January 2023
126,318
251,623
120,420
498,361


Disposals
(6,107)
-
(50,113)
(56,220)



At 31 December 2023

120,211
251,623
70,307
442,141



Depreciation


At 1 January 2023
65,584
63,549
82,041
211,174


Charge for the year
30,586
28,211
28,956
87,753


Disposals
(4,818)
-
(45,608)
(50,426)



At 31 December 2023

91,352
91,760
65,389
248,501



Net book value



At 31 December 2023
28,859
159,863
4,918
193,640



At 31 December 2022
60,734
188,074
38,379
287,187


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


At 1 January 2023
175


Disposals
(75)



At 31 December 2023
100




Page 9

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Class of shares

Holding

On The Tools Ltd*
A,B,C,D & E
100%

*denotes the company holds the same registered office address.
On 6 April 2023, the Company disposed of its investment in DIYOAB Limited.
Page 10

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
-
2,333


2023
2022
£
£

Due within one year

Trade debtors
245,672
376,982

Amounts owed by group undertakings
-
379

Other debtors
140,382
138,289

Prepayments and accrued income
158,433
73,916

Tax recoverable
29,250
29,250

573,737
618,816



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
189,996
42,827

Amounts owed to group undertakings
340,451
392,284

Corporation tax
29,250
29,250

Other taxation and social security
207,168
341,352

Other creditors
157,632
56,972

Accruals and deferred income
651,671
304,490

1,576,168
1,167,175


Page 11

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Share capital

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



20,823 (2022 - 21,000) A Ordinary shares of £0.001 each
21
21
20,823 (2022 - 21,000) B Ordinary shares of £0.001 each
21
21
21,815 (2022 - 22,000) C Ordinary shares of £0.001 each
22
22
6,633 (2022 - 13,000) D Ordinary shares of £0.001 each
7
13
17,848 (2022 - 18,000) E Ordinary shares of £0.001 each
18
18
21,000 (2022 - 21,000) F Ordinary shares of £0.001 each
21
21
1,383 (2022 - 1,000) G Ordinary shares of £0.001 each
1
1

111

117

On 16 March 2023, the company re-purchased 8,005 D Ordinary shares in year for total consideration of £1. These shares were then subsequently cancelled.
On 5 October 2023, the company issued 1,165 D Ordinary shares of £0.001p each.
On 24 December 2023, the company issued 582 D Ordinary Shares of £0.001p each.



10.


Reserves

Share premium account

This reserve records the value of allotted and fully paid share capital, paid inexcess of nominal value.

Profit and loss account

This reserve records all current and prior period retained profits and losses.


11.


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 £51,246 (2022 - £84,525). Contributions totaling £6,315 (2022 - £11,348) were payable to the fund at the balance sheet date and are included in creditors.


12.Other financial commitments

A group VAT registration is in force. The Company is jointly and severally liable for the amount of VAT owed by On The Tools Ltd. At the balance sheet date, this amounted to £6,187 (2022: £nil).

Page 12

 
ELECTRIC HOUSE GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

13.


Related party transactions

The Company has taken advantage of exemption, under the terms of the Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland", not to disclose related party transactions with wholly owned subsidiaries within the group.


14.


Transactions with directors

During the year, the Company advanced £nil (2022: £7,000) to directors of the business. At the balance sheet date the amount due to the Company from its directors was £97,000 (2022: £97,000) and is included within other debtors. The amount advanced is interest free and holds no conditions.

 
Page 13