Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312024-03-31true2023-04-01falseNo description of principal activity10trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06795218 2023-04-01 2024-03-31 06795218 2022-04-01 2023-03-31 06795218 2024-03-31 06795218 2023-03-31 06795218 c:Director1 2023-04-01 2024-03-31 06795218 d:FurnitureFittings 2023-04-01 2024-03-31 06795218 d:OfficeEquipment 2023-04-01 2024-03-31 06795218 d:ComputerEquipment 2023-04-01 2024-03-31 06795218 d:CurrentFinancialInstruments 2024-03-31 06795218 d:CurrentFinancialInstruments 2023-03-31 06795218 d:Non-currentFinancialInstruments 2024-03-31 06795218 d:Non-currentFinancialInstruments 2023-03-31 06795218 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06795218 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06795218 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 06795218 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 06795218 d:ShareCapital 2024-03-31 06795218 d:ShareCapital 2023-03-31 06795218 d:SharePremium 2024-03-31 06795218 d:SharePremium 2023-03-31 06795218 d:RetainedEarningsAccumulatedLosses 2024-03-31 06795218 d:RetainedEarningsAccumulatedLosses 2023-03-31 06795218 c:FRS102 2023-04-01 2024-03-31 06795218 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06795218 c:FullAccounts 2023-04-01 2024-03-31 06795218 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06795218 c:Consolidated 2024-03-31 06795218 c:ConsolidatedGroupCompanyAccounts 2023-04-01 2024-03-31 06795218 6 2023-04-01 2024-03-31 06795218 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06795218









THE SORTING OFFICE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
304,370
363,425

Tangible assets
 6 
16,516
16,804

  
320,886
380,229

Current assets
  

Debtors due within one year
 7 
602,360
349,705

Cash at bank and in hand
  
149,356
284,685

  
751,716
634,390

Creditors due within one year
 8 
(494,100)
(436,975)

Net current assets
  
 
 
257,616
 
 
197,415

Total assets less current liabilities
  
578,502
577,644

Creditors due after more than one year
 9 
(9,622)
(21,483)

Net assets
  
568,880
556,161


Capital and reserves
  

Called up share capital 
  
160
160

Share premium account
  
839,907
839,907

Profit and loss account
  
(271,187)
(283,906)

  
568,880
556,161


Page 1

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 consolidated 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 on 7 October 2024.




P L Tanner
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 7 
222,687
222,687

  
222,687
222,687

Creditors: amounts falling due within one year
 8 
(34,370)
(34,370)

Net current assets
  
 
 
188,317
 
 
188,317

Total assets less current liabilities
  
188,317
188,317

  

Creditors: amounts falling due after more than one year
 9 
7,124
7,124

  

Net assets excluding pension asset
  
195,441
195,441


Capital and reserves
  

Called up share capital 
  
160
160

Share premium account
  
839,907
839,907

Profit and loss account carried forward
  
(644,626)
(644,626)

  
195,441
195,441


Page 3

 
THE SORTING OFFICE LIMITED
REGISTERED NUMBER: 06795218
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from the requirement to have an audit under the provisions of 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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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 consolidated 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 on 7 October 2024.


P L Tanner
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The principal activity of The Sorting Office Limited ("the Company") and its subsidiaries (together "the Group") is that of the provision of telecommunication services.
The Sorting Office Limited is a private company limited by shares and incorporated in England. The address of the registered office is 124 Finchley Road, London, NW3 5JS. The address of its principal place of business is Centa House, 61 Birkenhead Street, London, WC1H 8BB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own statement of income and retained earnings in these financial statements.

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

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the consolidated statement of income and retained earnings from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

Existing funding facilities, forecasts and projections indicate that the group has adequate resources to continue with some level of activity from minimal to full levels. 
After reviewing the group's forecasts and projections, the director has a reasonable expectation that the group has adequate resources to continue in operational existence for at least 12 months from the date of approval of the financial statements.  The group therefore continues to adopt the going concern basis in preparing its financial statements. 

Page 5

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group 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.
Turnover comprises revenue recognised by the Group in respect of IT and telecommunication services supplied during the year.
Revenue is recognised at the point at which the Group supplies the service. 

 
2.5

Borrowing costs

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

 
2.6

Pensions

Defined contribution pension plan

The Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group has no further payment obligations.

The contributions are recognised as an expense in profit or loss 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 Group in independently administered funds.

 
2.7

Intangible assets

The intangible fixed asset comprises the cost of developing computer systems and the website and is stated at historical cost less accumulated amortisation. The amortisation rate is calculated to write off the cost of the asset over its expected useful life on the following basis:
Development expenditure                              25% - straight line

 
2.8

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 6

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
reducing balance
Office equipment
-
25%
reducing balance
Computer equipment
-
25%
reducing balance

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.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.10

Debtors

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

 
2.11

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.

 
2.12

Creditors

Short term creditors are measured at the transaction price.

  
2.13

Taxation

Tax is recognised in the consolidated statement of income and retained earnings.
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 group operates and generates income.

  
2.14

Research and development

Deferred research and development costs are reviewed annually, and where future benefits are deemed to have ceased or to be in doubt, the balance of any related research and development is written off to profit or loss.

Page 7

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

Financial instruments

The Group only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.


3.


Other operating income

2024
2023
£
£

Research and development tax credit recoverable
41,781
55,787

41,781
55,787



4.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 9

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Intangible assets

Group 





Patent and Development costs

£



Cost


At 1 April 2023
590,554



At 31 March 2024

590,554



Amortisation


At 1 April 2023
227,129


Charge for the year on owned assets
59,055



At 31 March 2024

286,184



Net book value



At 31 March 2024
304,370



At 31 March 2023
363,425



Page 10

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Tangible fixed assets

Group






Fixtures & fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2023
17,118
34,536
566
52,220


Additions
-
4,651
-
4,651


Disposals
(17,118)
-
(566)
(17,684)



At 31 March 2024

-
39,187
-
39,187



Depreciation


At 1 April 2023
16,751
18,233
432
35,416


Charge for the year on owned assets
92
4,438
34
4,564


Disposals
(16,843)
-
(466)
(17,309)



At 31 March 2024

-
22,671
-
22,671



Net book value



At 31 March 2024
-
16,516
-
16,516



At 31 March 2023
367
16,303
134
16,804


7.


Debtors

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£


Trade debtors
92,573
21,327
-
-

Amounts owed by group undertakings
-
-
219,161
219,161

Other debtors
274,643
182,166
3,526
3,526

Prepayments and accrued income
100,202
90,425
-
-

Tax recoverable
48,042
55,787
-
-

Deferred taxation
86,900
-
-
-

602,360
349,705
222,687
222,687


Page 11

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
10,182
8,970
-
-

Trade creditors
37,053
48,026
-
-

Amounts owed to group undertakings
-
-
34,370
34,370

Corporation tax
6,261
-
-
-

Other taxation and social security
67,804
120,837
-
-

Other creditors
21,168
16,444
-
-

Accruals and deferred income
351,632
242,698
-
-

494,100
436,975
34,370
34,370



9.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2024
2023
2024
2023
£
£
£
£

Bank loans
16,746
28,607
-
-

Other creditors
7,124
7,124
7,124
7,124

(9,622)
(21,483)
7,124
7,124


Page 12

 
THE SORTING OFFICE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

10.


Loans


Analysis of the maturity of loans is given below:


Group
Group
2024
2023
£
£

Amounts falling due within one year

Bank loans
10,182
8,970


10,182
8,970

Amounts falling due 1-2 years

Bank loans
14,095
15,516


14,095
15,516

Amounts falling due 2-5 years

Bank loans
2,651
13,091


2,651
13,091


26,928
37,577



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 £8,788 (2023 - £52,931). Contributions totalling £2,162 (2023 - £2,125) were payable to the fund at the reporting date and are included in creditors.

Page 13