Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01trueNo description of principal activity2422falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02289762 2023-07-01 2024-06-30 02289762 2022-07-01 2023-06-30 02289762 2024-06-30 02289762 2023-06-30 02289762 c:Director3 2023-07-01 2024-06-30 02289762 d:Buildings 2023-07-01 2024-06-30 02289762 d:Buildings 2024-06-30 02289762 d:Buildings 2023-06-30 02289762 d:Buildings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02289762 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-06-30 02289762 d:OfficeEquipment 2023-07-01 2024-06-30 02289762 d:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 02289762 d:OtherPropertyPlantEquipment 2024-06-30 02289762 d:OtherPropertyPlantEquipment 2023-06-30 02289762 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02289762 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 02289762 d:CurrentFinancialInstruments 2024-06-30 02289762 d:CurrentFinancialInstruments 2023-06-30 02289762 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 02289762 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02289762 d:ShareCapital 2024-06-30 02289762 d:ShareCapital 2023-06-30 02289762 d:SharePremium 2024-06-30 02289762 d:SharePremium 2023-06-30 02289762 d:CapitalRedemptionReserve 2024-06-30 02289762 d:CapitalRedemptionReserve 2023-06-30 02289762 d:RetainedEarningsAccumulatedLosses 2024-06-30 02289762 d:RetainedEarningsAccumulatedLosses 2023-06-30 02289762 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-06-30 02289762 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-06-30 02289762 c:OrdinaryShareClass1 2023-07-01 2024-06-30 02289762 c:OrdinaryShareClass1 2024-06-30 02289762 c:FRS102 2023-07-01 2024-06-30 02289762 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 02289762 c:FullAccounts 2023-07-01 2024-06-30 02289762 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 02289762 d:WithinOneYear 2024-06-30 02289762 d:WithinOneYear 2023-06-30 02289762 d:BetweenOneFiveYears 2024-06-30 02289762 d:BetweenOneFiveYears 2023-06-30 02289762 d:MoreThanFiveYears 2024-06-30 02289762 d:MoreThanFiveYears 2023-06-30 02289762 2 2023-07-01 2024-06-30 02289762 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 02289762 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02289762 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 02289762 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 02289762 d:EntityControlledByKeyManagementPersonnel1 2023-07-01 2024-06-30 02289762 d:EntityControlledByKeyManagementPersonnel1 2024-06-30 02289762 d:EntityControlledByKeyManagementPersonnel2 2023-07-01 2024-06-30 02289762 d:EntityControlledByKeyManagementPersonnel2 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02289762









COMPUFILE SYSTEMS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
COMPUFILE SYSTEMS LIMITED
REGISTERED NUMBER: 02289762

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024


2024

2023
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
40,072
72,107

Current assets
  

Debtors: amounts falling due within one year
 5 
700,585
682,092

Cash at bank and in hand
 6 
1,624,101
1,870,688

  
2,324,686
2,552,780

Creditors: amounts falling due within one year
 7 
(1,084,011)
(1,324,900)

Net current assets
  
 
 
1,240,675
 
 
1,227,880

Total assets less current liabilities
  
1,280,747
1,299,987

Provisions for liabilities
  

Deferred tax
 8 
(8,965)
(16,743)

Other provisions
 9 
(15,000)
(15,000)

Net assets
  
1,256,782
1,268,244


Capital and reserves
  

Called up share capital 
 10 
4,914
4,914

Share premium account
  
285,936
285,936

Capital redemption reserve
  
132
132

Profit and loss account
  
965,800
977,262

  
1,256,782
1,268,244


Page 1

 
COMPUFILE SYSTEMS LIMITED
REGISTERED NUMBER: 02289762
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

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 30 September 2024.




M J Beckett
Director


The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Compufile Systems Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is The Sussex Barn, Peper Harow Park, Godalming, Surrey, GU8 6BQ.
The company provides software and expertise in business intelligence and data management.  

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.


 
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.

Revenue is recognised when services are provided.

 
2.3

Going concern

The directors have taken consideration of the impact of inflationary pressures on the business and the withdrawal of the United Kingdom from the European Union. The directors note that the company is trading adequately and has sufficient working capital and other finance available to continue trading for a period of not less than 12 months from the date these financial statements are approved and authorised for issue. As such, the directors believe that there are no significant uncertainties in their assessment of whether the business is a going concern and therefore have prepared the accounts on a going concern basis.

Page 3

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

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 bases:

Leasehold improvements
-
25% Straight line
Other fixed assets
-
25-50% 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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

Page 4

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

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 and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

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 except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

 
2.9

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.

 
2.10

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.

Page 5

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

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 accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Interest income

Interest income is recognised in the Statement of comprehensive incomes using the effective interest method.

 
2.13

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 reporting 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 Statement of financial position.

 
2.14

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 reporting 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 24 (2023 - 22).

Page 6

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Leasehold improvements
Other fixed assets
Total

£
£
£



Cost


At 1 July 2023
44,479
354,322
398,801


Additions
-
5,120
5,120



At 30 June 2024

44,479
359,442
403,921



Depreciation


At 1 July 2023
44,479
282,215
326,694


Charge for the year
-
37,155
37,155



At 30 June 2024

44,479
319,370
363,849



Net book value



At 30 June 2024
-
40,072
40,072



At 30 June 2023
-
72,107
72,107

Page 7

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Debtors

2024
2023
£
£


Trade debtors
333,607
354,134

Other debtors
263,926
260,378

Prepayments and accrued income
103,052
67,580

700,585
682,092



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,624,101
1,870,688

1,624,101
1,870,688



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
19,286
23,456

Amounts owed to group undertakings
343,143
468,746

Corporation tax
118,290
120,093

Other taxation and social security
148,044
131,233

Other creditors
4,215
1,910

Accruals and deferred income
451,033
579,462

1,084,011
1,324,900


Page 8

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Deferred taxation




2024


£






At beginning of year
16,743


Credited to Statement of comprehensive income
(7,778)



At end of year
8,965

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
8,965
25,782

Tax losses carried forward
-
(9,039)

8,965
16,743


9.


Provisions




Provision for dilapidations

£





At 1 July 2023
15,000



At 30 June 2024
15,000


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



491,400 Ordinary shares of £0.01 each
4,914
4,914


Page 9

 
COMPUFILE SYSTEMS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

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 £144,379 (2023 - £127,490). Contributions totalling £3,408 (2023 - £737) were payable at the reporting date.


12.


Commitments under operating leases

At 30 June 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
76,900
76,900

Later than 1 year and not later than 5 years
211,475
230,700

Later than 5 years
-
57,675

288,375
365,275


13.


Transactions with directors

Included within other debtors is an amount of £184,803 (2023 - £184,803) due from M J Beckett, a director. The maximum amount outstanding during the year was £184,803. The loan is interest free and repayble on demand.


14.


Related party transactions

The company has taken advantage of the exemption allowed by Financial Reporting Standard 102 not to disclose any transactions with other wholly owned members of the group.
At 30 June 2024, the company had amounts receivable of £5,012 
(2023 - £16,155) from a company under common control. The amounts recharged in the year were £29,234 (2023 - £58,698).
 
Included within other debtors is an amount of £5,664 (2023 - £2,760) due from companies under common control.


15.


Ultimate parent undertaking and controlling party

Up to 25 October 2023, the immediate parent undertaking and the ultimate parent undertaking were Compufile Systems Enterprises Limited and CSL Holdings Limited, respectively. From 25 October 2023, the immediate and ultimate parent undertaking is CSL Holdings Limited. The ultimate controlling party has remained M J Beckett by virtue of his shareholding in CSL Holdings Limited throughout the year.

 
Page 10