Caseware UK (AP4) 2023.0.135 2023.0.135 1true2023-05-01No description of principal activity2truetrue 06218561 2023-05-01 2024-04-30 06218561 2022-05-01 2023-04-30 06218561 2024-04-30 06218561 2023-04-30 06218561 c:Director2 2023-05-01 2024-04-30 06218561 d:CurrentFinancialInstruments 2024-04-30 06218561 d:CurrentFinancialInstruments 2023-04-30 06218561 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06218561 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06218561 d:ShareCapital 2024-04-30 06218561 d:ShareCapital 2023-04-30 06218561 d:SharePremium 2024-04-30 06218561 d:SharePremium 2023-04-30 06218561 d:RetainedEarningsAccumulatedLosses 2024-04-30 06218561 d:RetainedEarningsAccumulatedLosses 2023-04-30 06218561 c:EntityHasNeverTraded 2023-05-01 2024-04-30 06218561 c:FRS102 2023-05-01 2024-04-30 06218561 c:Audited 2023-05-01 2024-04-30 06218561 c:FullAccounts 2023-05-01 2024-04-30 06218561 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06218561 c:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06218561 6 2023-05-01 2024-04-30 06218561 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 06218561









CMS Business Development Limited









Financial statements

Information for filing with the registrar

For the year ended 30 April 2024

 
CMS Business Development Limited
Registered number: 06218561

Balance Sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 3 
2,667,151
2,667,151

  
2,667,151
2,667,151

  

Creditors: amounts falling due within one year
 4 
(865,516)
(865,516)

Net current liabilities
  
 
 
(865,516)
 
 
(865,516)

Total assets less current liabilities
  
1,801,635
1,801,635

  

Net assets
  
1,801,635
1,801,635


Capital and reserves
  

Called up share capital 
  
12,542
12,542

Share premium account
  
1,789,000
1,789,000

Profit and loss account
  
93
93

  
1,801,635
1,801,635


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 profit and loss account 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 15 October 2024.




A M Brooks
Director

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
CMS Business Development Limited
 
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

1.


General information

CMS Business Development Limited a private company limited by members capital is incorporated in the United Kingdom, with its registered office being The Lexicon, Mount Street, Manchester, M2 5NT. 

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.

 
2.2

Exemption from preparing consolidated financial statements

The company, and the group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

Going concern

At 30 April 2024 the company had net current liabilities of £865,516 (2023 - £865,516), of which £864,516 (2023 - £864,516) relates to amounts owed to a subsidiary company. The balance payable has been classified as a current liability as the amounts are legally repayable on demand. The subsidiary company will not be permitted to seek repayment of this balance within 12 months from the date of approval of these financial statements. The directors are therefore confident that the company will be able to meet its debts as they fall due.
As a result of the above assurances, the directors have deemed it appropriate to prepare the accounts on a going concern basis.

 
2.4

Share-based payments

Where share options are awarded to employees, the fair value of the options at the date of grant is charged to the statement of income and retained earnings over the vesting period where the charge is material to the company. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each balance sheet date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. 

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

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 2

 
CMS Business Development Limited
 
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.7

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company only enters into basic financial instruments 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.


3.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
2,667,151



At 30 April 2024
2,667,151





4.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
864,516
864,516

Accruals and deferred income
1,000
1,000

865,516
865,516


Page 3

 
CMS Business Development Limited
 
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

5.


Share-based payments

On 3 March 2022, the company granted options to certain employees of its trading subsidiary, which upon exercise would have led to the issue of new F shares in the company. The option holders had the option to acquire shares at 38 pence per share, and the shares were able to vest once all deferred consideration had been been paid to the original shareholders. The amount that would have been chargeable as a share-based payment charge is deemed immaterial for the current year.
During the year, a total of 169,491 share options were forfeited during the year as a result of an employee leaving the company. No expense had previously been recognised for these shares as it was deemed to be immaterial.
On 4 December 2023, the company granted additional options to an employee of its trading subsidiary, which upon exercise would have led to the issue of new F shares in the parent company. The option holder had the option to acquire shares at 79 pence per share, and the shares are able to vest over a ten year period from the date of grant. The amount that would have been chargeable as a share-based payment charge is deemed immaterial for the current year.

Weighted average exercise price (pence)
2024
Number
2024
Weighted average exercise price
(pence)
2023
Number
2023

Outstanding at the beginning of the year

38

440,676

38.00
 
440,676
 
Granted during the year

79

169,491

 
-
 
Forfeited during the year

38

(169,491)

 
-
 
Exercised during the year


-

 
-
 
Expired during the year


-

 
-
 
Outstanding at the end of the year

440,676

38.00
 
440,676
 





6.


Controlling party

The controlling party is CMS (EOT) Limited by virtue of their 75% stake in the voting share capital in the company


7.
 

Provisions available for audits of small entities

In common with many other businesses of our size and nature, we use our auditor to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

Page 4

 
CMS Business Development Limited
 
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

8.


Auditors' information

The auditors' report on the financial statements for the year ended 30 April 2024 was unqualified.

The audit report was signed on 15 October 2024 by Jo Gibson (senior statutory auditor) on behalf of Hurst Accountants Limited.

Page 5