Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01falseNo description of principal activity1318truetrue 07797911 2023-04-01 2024-03-31 07797911 2022-04-01 2023-03-31 07797911 2024-03-31 07797911 2023-03-31 07797911 2022-04-01 07797911 c:Director1 2023-04-01 2024-03-31 07797911 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 07797911 d:OfficeEquipment 2023-04-01 2024-03-31 07797911 d:OfficeEquipment 2024-03-31 07797911 d:OfficeEquipment 2023-03-31 07797911 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07797911 d:ComputerEquipment 2023-04-01 2024-03-31 07797911 d:ComputerEquipment 2024-03-31 07797911 d:ComputerEquipment 2023-03-31 07797911 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07797911 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 07797911 d:OtherPropertyPlantEquipment 2024-03-31 07797911 d:OtherPropertyPlantEquipment 2023-03-31 07797911 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07797911 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 07797911 d:CurrentFinancialInstruments 2024-03-31 07797911 d:CurrentFinancialInstruments 2023-03-31 07797911 d:Non-currentFinancialInstruments 2024-03-31 07797911 d:Non-currentFinancialInstruments 2023-03-31 07797911 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07797911 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07797911 d:ShareCapital 2024-03-31 07797911 d:ShareCapital 2023-03-31 07797911 d:SharePremium 2024-03-31 07797911 d:SharePremium 2023-03-31 07797911 d:RetainedEarningsAccumulatedLosses 2024-03-31 07797911 d:RetainedEarningsAccumulatedLosses 2023-03-31 07797911 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 07797911 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 07797911 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 07797911 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 07797911 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2024-03-31 07797911 d:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2023-03-31 07797911 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07797911 c:OrdinaryShareClass1 2024-03-31 07797911 c:OrdinaryShareClass2 2023-04-01 2024-03-31 07797911 c:OrdinaryShareClass2 2023-03-31 07797911 c:OrdinaryShareClass3 2023-04-01 2024-03-31 07797911 c:OrdinaryShareClass3 2023-03-31 07797911 c:FRS102 2023-04-01 2024-03-31 07797911 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07797911 c:FullAccounts 2023-04-01 2024-03-31 07797911 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07797911 d:WithinOneYear 2024-03-31 07797911 d:WithinOneYear 2023-03-31 07797911 d:BetweenOneFiveYears 2024-03-31 07797911 d:BetweenOneFiveYears 2023-03-31 07797911 4 2023-04-01 2024-03-31 07797911 6 2023-04-01 2024-03-31 07797911 1 2024-03-31 07797911 1 2023-03-31 07797911 f:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07797911









THIS PLACE LIMITED







UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
THIS PLACE LIMITED
REGISTERED NUMBER: 07797911

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
21,904
23,180

Investments
 5 
2,421
1,734,592

  
24,325
1,757,772

Current assets
  

Debtors: amounts falling due after more than one year
 6 
624,000
-

Debtors: amounts falling due within one year
 6 
459,260
374,005

Cash at bank and in hand
  
2,110,371
997,137

  
3,193,631
1,371,142

Creditors: amounts falling due within one year
 7 
(427,160)
(385,351)

Net current assets
  
 
 
2,766,471
 
 
985,791

Total assets less current liabilities
  
2,790,796
2,743,563

Provisions for liabilities
  

Other provisions
 9 
(178,170)
(312,259)

  
 
 
(178,170)
 
 
(312,259)

Net assets
  
2,612,626
2,431,304


Capital and reserves
  

Called up share capital 
 10 
4
4

Share premium account
  
20
20

Profit and loss account
  
2,612,602
2,431,280

  
2,612,626
2,431,304


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 income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
Page 1

 
THIS PLACE LIMITED
REGISTERED NUMBER: 07797911
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D Hamlin
Director
Date: 10 October 2024

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The Company is a private company, limited by shares, and is incorporated in England and Wales.
The address of its Registered Office is Unit 2.02 High Weald House, Glovers End, Bexhill-On-Sea, East Sussex, TN39 5ES.
The principal activity of the Company is that of digital media design and strategy consulting. The Company specialises in optimising digital experience using both design and strategy expertise. The Company helps brands solve complex problems, build connections with customers and create long term communities.

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

Revenue

Revenue is invoiced as per the stage of completion, relative to an agreed timeline whereby a checkpoint or deliverable has been achieved, with the stage of completion being agreed with the client.
Design projects often follow the design thinking stages of discover, define, design and deliver in a series of iterative timed sprints to ensure full engagement with the client. Stage of completion is deemed to be the marker at which the project is at along the design thinking journey and mutually agreed in writing with the client.

Page 3

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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:

Leasehold improvements
-
33%
Office equipment
-
33%
Computer 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.

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.5

Financial instruments

The company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
 
Page 4

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.5
Financial instruments (continued)

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

 
2.6

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 profit or loss 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 Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.7

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.

Page 5

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

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.

 
2.9

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 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 Company in independently administered funds.

 
2.10

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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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 reporting date.

 
2.11

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 6

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 18).


4.


Tangible fixed assets





Office equipment
Computer equipment
Leasehold improvements
Total

£
£
£
£



Cost or valuation


At 1 April 2023
77,788
94,101
194,059
365,948


Additions
-
13,586
-
13,586


Disposals
-
(12,628)
-
(12,628)



At 31 March 2024

77,788
95,059
194,059
366,906



Depreciation


At 1 April 2023
74,993
92,390
175,385
342,768


Charge for the year on owned assets
2,432
1,953
10,477
14,862


Disposals
-
(12,628)
-
(12,628)



At 31 March 2024

77,425
81,715
185,862
345,002



Net book value



At 31 March 2024
363
13,344
8,197
21,904



At 31 March 2023
2,795
1,711
18,674
23,180

Page 7

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 April 2023
1,732,278
2,314
1,734,592


Disposals
(1,732,169)
-
(1,732,169)



At 31 March 2024
109
2,314
2,423






Net book value



At 31 March 2024
109
2,314
2,423



At 31 March 2023
1,732,278
2,314
1,734,592

The fair value of listed investments at 31 March 2024 was £2,314 (2023 -  £2,314).
The listed investment relates to an employee share ownership scheme. More information on the scheme can be found in note 13 of these accounts.

Page 8

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
624,000
-


2024
2023
£
£

Due within one year

Trade debtors
165,166
235,987

Amounts owed by group undertakings
196,898
50,069

Other debtors
35,520
54,848

Prepayments and accrued income
61,676
33,101

459,260
374,005



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
46,374
74,200

Amounts owed to group undertakings
-
446

Other taxation and social security
26,437
40,626

Other creditors
12,606
31,665

Accruals and deferred income
341,743
238,414

427,160
385,351


Page 9

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation


2023


£






At beginning of year
37,539


Charged to profit or loss
(37,539)



At end of year
-


9.


Provisions


Dilapidation  provision
Onerous lease provision
Total

£
£
£





At 1 April 2023
14,803
297,456
312,259


Charged to profit or loss
-
(134,089)
(134,089)



At 31 March 2024
14,803
163,367
178,170


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



33,496 (2023 - NIL) Ordinary shares of £0.0001 each
4
-
NIL (2023 - 27,900) Ordinary A shares of £0.0001 each
-
3
NIL (2023 - 5,596) Ordinary B shares of £0.0001 each
-
1

4

4

During the year, the Company redesignated 27,900 £0.0001 Ordinary A shares and 5,596 £0.0001 Ordinary B shares as 33,496 Ordinary shares.


Page 10

 
THIS PLACE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Employee Share Incentive Plan

Included within investments is an amount contributed by the company to an Employee Share Incentive Plan (SIP). The vesting period for the share allocations is 3 years, over which time the cost of this plan will be expensed to the profit and loss on a straight line basis. The charge in the year was £NIL (2023: £34,336).
The shares held within the SIP are held in Trust, however, the company has de facto control over these shares for the first 3 years they are held by an employee.
In 2023, the company terminated any future schemes and all shares not vested will continue on their 3-year cycle and be held by the trustee until then. The balance of the general pool for historical leavers was refundable to the company and as at the year-end, an amount of £2,314 was still due. This amount is included in fixed asset investments (note 7).


12.


Pension commitments

The company operates a defined contribution retirement benefit scheme for all qualifying employees. The funds of the scheme are held and administered separately from those of the company. Amounts due to the fund as at the reporting date amounted to £11,834 (2023: £6,634).


13.


Commitments under operating leases

At 31 March 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
77,760
89,705

Later than 1 year and not later than 5 years
77,530
80,290

155,290
169,995


14.


Related party transactions

Included within debtors is an amount due from a director of £1,528 (2023 - £NIL). The balance was repayable on demand and interest free. The balance was repaid in full in April 2024.


15.


Ultimate controlling party

The ultimate parent undertaking of the company is This Place Holdings Limited, a company incorporated in England and Wales at Unit 2.02 High Weald House, Glovers End, Bexhill-On-Sea, East Sussex, TN39 5ES.

 
Page 11