Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-08-01falseNo description of principal activity11truetruefalse 09686023 2023-08-01 2024-07-31 09686023 2022-08-01 2023-07-31 09686023 2024-07-31 09686023 2023-07-31 09686023 2022-08-01 09686023 3 2023-08-01 2024-07-31 09686023 d:Director1 2023-08-01 2024-07-31 09686023 e:MotorVehicles 2024-07-31 09686023 e:MotorVehicles 2023-07-31 09686023 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09686023 e:OfficeEquipment 2023-08-01 2024-07-31 09686023 e:OfficeEquipment 2024-07-31 09686023 e:OfficeEquipment 2023-07-31 09686023 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09686023 e:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 09686023 e:Goodwill 2024-07-31 09686023 e:Goodwill 2023-07-31 09686023 e:CurrentFinancialInstruments 2024-07-31 09686023 e:CurrentFinancialInstruments 2023-07-31 09686023 e:Non-currentFinancialInstruments 2024-07-31 09686023 e:Non-currentFinancialInstruments 2023-07-31 09686023 e:CurrentFinancialInstruments e:WithinOneYear 2024-07-31 09686023 e:CurrentFinancialInstruments e:WithinOneYear 2023-07-31 09686023 e:Non-currentFinancialInstruments e:AfterOneYear 2024-07-31 09686023 e:Non-currentFinancialInstruments e:AfterOneYear 2023-07-31 09686023 e:ShareCapital 2023-08-01 2024-07-31 09686023 e:ShareCapital 2024-07-31 09686023 e:ShareCapital 2022-08-01 2023-07-31 09686023 e:ShareCapital 2023-07-31 09686023 e:ShareCapital 2022-08-01 09686023 e:RetainedEarningsAccumulatedLosses 2023-08-01 2024-07-31 09686023 e:RetainedEarningsAccumulatedLosses 2024-07-31 09686023 e:RetainedEarningsAccumulatedLosses 3 2023-08-01 2024-07-31 09686023 e:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 09686023 e:RetainedEarningsAccumulatedLosses 2023-07-31 09686023 e:RetainedEarningsAccumulatedLosses 2022-08-01 09686023 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-07-31 09686023 e:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-07-31 09686023 d:OrdinaryShareClass1 2023-08-01 2024-07-31 09686023 d:OrdinaryShareClass1 2024-07-31 09686023 d:OrdinaryShareClass1 2023-07-31 09686023 d:FRS102 2023-08-01 2024-07-31 09686023 d:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 09686023 d:FullAccounts 2023-08-01 2024-07-31 09686023 d:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 09686023 e:HirePurchaseContracts e:WithinOneYear 2024-07-31 09686023 e:HirePurchaseContracts e:WithinOneYear 2023-07-31 09686023 e:HirePurchaseContracts e:BetweenOneFiveYears 2024-07-31 09686023 e:HirePurchaseContracts e:BetweenOneFiveYears 2023-07-31 09686023 2 2023-08-01 2024-07-31 09686023 e:MotorVehicles e:LeasedAssetsHeldAsLessee 2024-07-31 09686023 e:MotorVehicles e:LeasedAssetsHeldAsLessee 2023-07-31 09686023 e:LeasedAssetsHeldAsLessee 2024-07-31 09686023 e:LeasedAssetsHeldAsLessee 2023-07-31 09686023 f:PoundSterling 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 09686023






FINESEAL LIMITED

UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 JULY 2024

 
FINESEAL LIMITED
REGISTERED NUMBER: 09686023

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
14,494
18,891

  
14,494
18,891

Current assets
  

Debtors: amounts falling due within one year
 6 
9,482
8,097

Cash at bank and in hand
 7 
75,122
122,450

  
84,604
130,547

Creditors: amounts falling due within one year
 8 
(22,983)
(42,075)

Net current assets
  
 
 
61,621
 
 
88,472

Total assets less current liabilities
  
76,115
107,363

Creditors: amounts falling due after more than one year
 9 
(7,574)
(24,067)

  

Net assets
  
68,541
83,296


Capital and reserves
  

Called up share capital 
 12 
100
100

Profit and loss account
 13 
68,441
83,196

  
68,541
83,296


Page 1

 
FINESEAL LIMITED
REGISTERED NUMBER: 09686023
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The director considers 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 director acknowledges his 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 2 October 2024.




Alex Robert Grassby
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 2

 
FINESEAL LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 August 2022
100
77,834
77,934


Comprehensive income for the year

Profit for the year
-
45,362
45,362
Total comprehensive income for the year
-
45,362
45,362


Contributions by and distributions to owners

Dividends: Equity capital
-
(40,000)
(40,000)


Total transactions with owners
-
(40,000)
(40,000)



At 1 August 2023
100
83,196
83,296


Comprehensive income for the year

Profit for the year
-
25,245
25,245

Other movement type 3
-
-
-
Total comprehensive income for the year
-
25,245
25,245


Contributions by and distributions to owners

Dividends: Equity capital
-
(40,000)
(40,000)


Total transactions with owners
-
(40,000)
(40,000)


At 31 July 2024
100
68,441
68,541


The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
FINESEAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.Accounting policies

 
1.1

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
1.2

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.

 
1.3

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.

 
1.4

Interest income

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

 
1.5

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.

 
1.6

Borrowing costs

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

Page 4

 
FINESEAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.Accounting policies (continued)

 
1.7

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 reporting date in the countries where the Company operates and generates income.

 
1.8

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.

 
1.9

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

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.

 
1.10

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.

 
1.11

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.

Page 5

 
FINESEAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.Accounting policies (continued)

 
1.12

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.

 
1.13

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.


2.


Judgments in applying accounting policies and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimates are revised.
The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
Prepayments & Accrued Expenditure
The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the period end.


3.


Employees

2024
2023
£
£

Wages and salaries
9,100
9,097

9,100
9,097


The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 6

 
FINESEAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 August 2023
15,000



At 31 July 2024

15,000



Amortisation


At 1 August 2023
15,000



At 31 July 2024

15,000



Net book value



At 31 July 2024
-



At 31 July 2023
-



Page 7

 
FINESEAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 August 2023
18,534
3,743
22,277



At 31 July 2024

18,534
3,743
22,277



Depreciation


At 1 August 2023
1,545
1,841
3,386


Charge for the year on owned assets
3,707
690
4,397



At 31 July 2024

5,252
2,531
7,783



Net book value



At 31 July 2024
13,282
1,212
14,494



At 31 July 2023
16,989
1,902
18,891

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
13,282
16,989

13,282
16,989


6.


Debtors

2024
2023
£
£


Trade debtors
2,787
2,883

Other debtors
6,695
5,214

9,482
8,097


Page 8

 
FINESEAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
75,122
122,450

75,122
122,450



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
4,520
2,279

Other taxation and social security
437
437

Obligations under finance lease and hire purchase contracts
4,701
4,701

Other creditors
12,725
34,058

Accruals and deferred income
600
600

22,983
42,075



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
12,987

Net obligations under finance leases and hire purchase contracts
7,574
11,080

7,574
24,067



10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
4,701
4,701

Between 1-5 years
7,574
11,080

12,275
15,781

Page 9

 
FINESEAL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
75,122
75,122




Financial assets measured at fair value through profit or loss comprise...


12.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



13.


Reserves

Profit & loss account

The profit & loss reserve is fully distributable.

 
Page 10