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Company Registration Number:  14001063



















RE:GEN ACADEMY LIMITED
(FORMERLY RE:GEON TRAINING LIMITED)
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
 31 MARCH 2024


















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RE:GEN ACADEMY LIMITED
 
(FORMERLY RE:GEON TRAINING LIMITED)
REGISTERED NUMBER: 14001063

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,990
7,167

  
6,990
7,167

Current assets
  

Debtors: amounts falling due within one year
 5 
109,784
294,721

Cash at bank and in hand
 6 
23,039
36,550

  
132,823
331,271

Creditors: amounts falling due within one year
 7 
(589,186)
(451,546)

Net current liabilities
  
 
 
(456,363)
 
 
(120,275)

Total assets less current liabilities
  
(449,373)
(113,108)

Provisions for liabilities
  

Deferred tax
  
(1,212)
-

  
 
 
(1,212)
 
 
-

Net liabilities
  
(450,585)
(113,108)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(450,685)
(113,208)

  
(450,585)
(113,108)


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 by: 




G L Francis
R B Sheridan
Director
Director


Date: 7 October 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 1

 
RE:GEN ACADEMY LIMITED
 
(FORMERLY RE:GEON TRAINING LIMITED)
REGISTERED NUMBER: 14001063

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024


Page 2

 
RE:GEN ACADEMY LIMITED

(FORMERLY RE:GEON TRAINING LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

RE:GEN Academy Limited (Formerly Re:Geon Training Ltd) is a private company limited by shares incorporated in England. The address of the registered office and principal place of business is Regen House Azure Court, Doxford International Business Park, Sunderland, England, SR3 3BEE.
The company's principal activity is the provision of training services.

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 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:

 
2.2

Going concern

Management and the Directors have considered a period of at least twelve months from the date of sign off when making their assessment with regards to going concern. After consideration of all factors, including review of forecasted future profitability, pipeline of work, and wider economic conditions, the Directors have continued to adopt the going concern basis in preparing the financial statements.

 
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. 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.

Page 3

 
RE:GEN ACADEMY LIMITED

(FORMERLY RE:GEON TRAINING LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 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.

 
2.6

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 4

 
RE:GEN ACADEMY LIMITED

(FORMERLY RE:GEON TRAINING LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6
Tangible fixed assets (continued)

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:

Fixtures and fittings
-
25%
Straight-line
Office 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 profit or loss.

 
2.7

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.

 
2.8

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. 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.

 
2.9

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

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.

 
2.11

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 5

 
RE:GEN ACADEMY LIMITED

(FORMERLY RE:GEON TRAINING LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


3.


Employees

The average monthly employees, including directors, during the year was 9 (2023 - 9).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
7,876
401
8,277


Additions
2,358
-
2,358



At 31 March 2024

10,234
401
10,635



Depreciation


At 1 April 2023
1,035
75
1,110


Charge for the year on owned assets
2,435
100
2,535



At 31 March 2024

3,470
175
3,645



Net book value



At 31 March 2024
6,764
226
6,990



At 31 March 2023
6,841
326
7,167

Page 6

 
RE:GEN ACADEMY LIMITED

(FORMERLY RE:GEON TRAINING LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
41,790
21,657

Other debtors
3,297
3,591

Called up share capital not paid
100
100

Prepayments and accrued income
64,597
269,373

109,784
294,721



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
23,039
36,550



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
17,315
10,980

Amounts owed to group undertakings
550,000
425,023

Other taxation and social security
6,994
9,851

Other creditors
2,163
2,595

Accruals and deferred income
12,714
3,097

589,186
451,546



8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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




Page 7

 
RE:GEN ACADEMY LIMITED

(FORMERLY RE:GEON TRAINING LIMITED)
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Pension commitments

The Company operates a defined contribution 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 £11,544 (2023: £9,280). Contributions totalling £2,143 (2023: £2,595) were payable to the fund at the reporting date.


10.


Controlling party

The company's immediate parent company and the only group to consolidate these financial statements is RE:GEN Group Limited.
There is no ultimate controlling party.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 7 October 2024 by Simon Turner (Senior Statutory Auditor) on behalf of Armstrong Watson Audit Limited.

Page 8