Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseThe principal activity of the company was that of the hire and supply of special equipment and services tothe film and television industry.34truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10008955 2023-04-01 2024-03-31 10008955 2022-04-01 2023-03-31 10008955 2024-03-31 10008955 2023-03-31 10008955 c:Director1 2023-04-01 2024-03-31 10008955 d:PlantMachinery 2023-04-01 2024-03-31 10008955 d:PlantMachinery 2024-03-31 10008955 d:PlantMachinery 2023-03-31 10008955 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10008955 d:MotorVehicles 2023-04-01 2024-03-31 10008955 d:MotorVehicles 2024-03-31 10008955 d:MotorVehicles 2023-03-31 10008955 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10008955 d:OfficeEquipment 2023-04-01 2024-03-31 10008955 d:OfficeEquipment 2024-03-31 10008955 d:OfficeEquipment 2023-03-31 10008955 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10008955 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 10008955 d:OtherPropertyPlantEquipment 2024-03-31 10008955 d:OtherPropertyPlantEquipment 2023-03-31 10008955 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10008955 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10008955 d:CurrentFinancialInstruments 2024-03-31 10008955 d:CurrentFinancialInstruments 2023-03-31 10008955 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10008955 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10008955 d:ShareCapital 2024-03-31 10008955 d:ShareCapital 2023-03-31 10008955 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10008955 d:RetainedEarningsAccumulatedLosses 2024-03-31 10008955 d:RetainedEarningsAccumulatedLosses 2023-03-31 10008955 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10008955 c:OrdinaryShareClass1 2024-03-31 10008955 c:FRS102 2023-04-01 2024-03-31 10008955 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10008955 c:FullAccounts 2023-04-01 2024-03-31 10008955 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10008955 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 10008955 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 10008955 d:TaxLossesCarry-forwardsDeferredTax 2024-03-31 10008955 d:TaxLossesCarry-forwardsDeferredTax 2023-03-31 10008955 2 2023-04-01 2024-03-31 10008955 6 2023-04-01 2024-03-31 10008955 d:Associate1 2023-04-01 2024-03-31 10008955 d:Associate1 1 2023-04-01 2024-03-31 10008955 e:PoundSterling 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10008955














DIRECT 2 ACTION LTD
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2024

 
DIRECT 2 ACTION LTD
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
DIRECT 2 ACTION LTD
REGISTERED NUMBER:10008955

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
132,629
180,091

Investments
 5 
722,989
656,896

  
855,618
836,987

Current assets
  

Stocks
  
150
200

Debtors: amounts falling due within one year
 6 
21,923
21,777

Cash at bank and in hand
  
561,219
714,213

  
583,292
736,190

  

Creditors: amounts falling due within one year
 7 
(18,216)
(74,338)

Net current assets
  
 
 
565,076
 
 
661,852

Total assets less current liabilities
  
1,420,694
1,498,839

Provisions for liabilities
  

Deferred tax
 8 
(50,903)
(32,004)

Net assets
  
1,369,791
1,466,835


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
 10 
1,369,691
1,466,735

  
1,369,791
1,466,835


Page 1

 
DIRECT 2 ACTION LTD
REGISTERED NUMBER:10008955
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 by: 




C Corbould
Director

Date: 16 October 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
DIRECT 2 ACTION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company's legal form is that of a limited company incorporated in the United Kingdom. The Company's registered office 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the company was that of the hire and supply of special equipment and services to the film and television industry.

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

Turnover

Turnover is measured at the fair value in respect of equipment hire, goods and services provided in the period, net of trade discounts and excluding VAT. The company recognises revenue from equipment hire on a straight line basis over the hire period, from goods when the goods are delivered to the customer, and from services when all contacted obligations have been met.

 
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, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% reducing balance
Land and buildings
-
4% 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.

Page 3

 
DIRECT 2 ACTION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

 
2.6

Debtors

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

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
DIRECT 2 ACTION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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

 
2.10

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.

 
2.11

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 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.

 
2.12

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
DIRECT 2 ACTION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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 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.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 4).

Page 6

 
DIRECT 2 ACTION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Land and buildings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
211,119
146,315
33,565
12,621
403,620


Additions
-
-
1,580
-
1,580


Disposals
(28,696)
-
(1,166)
-
(29,862)



At 31 March 2024

182,423
146,315
33,979
12,621
375,338



Depreciation


At 1 April 2023
140,440
59,636
21,940
1,515
223,531


Charge for the year on owned assets
15,798
21,670
3,209
505
41,182


Disposals
(21,207)
-
(797)
-
(22,004)



At 31 March 2024

135,031
81,306
24,352
2,020
242,709



Net book value



At 31 March 2024
47,392
65,009
9,627
10,601
132,629



At 31 March 2023
70,679
86,680
11,626
11,106
180,091


5.


Fixed asset investments





Investments in associates
Listed investments
Unlisted investments
Total

£
£
£
£



Cost or valuation


At 1 April 2023
50
651,343
5,503
656,896


Additions
-
242,969
-
242,969


Disposals
-
(243,916)
-
(243,916)


Foreign exchange movement
-
(10,353)
-
(10,353)


Revaluations
-
77,393
-
77,393



At 31 March 2024
50
717,436
5,503
722,989




Page 7

 
DIRECT 2 ACTION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

Associate


The following was an associate of the Company:


Name

Principal activity

Class of shares

Holding

Auto Action Developments Ltd
Restoration and selling of cars
Ordinary
50%


6.


Debtors

2024
2023
£
£


Trade debtors
1,289
3,936

Other debtors
9,770
-

Prepayments and accrued income
10,864
17,841

21,923
21,777



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,156
1,836

Taxation and social security
5,336
28,022

Other creditors
3,814
5,322

Accruals and deferred income
7,910
39,158

18,216
74,338


Page 8

 
DIRECT 2 ACTION LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Deferred taxation




2024


£






At beginning of year
(32,004)


Charged to profit or loss
(18,899)



At end of year
(50,903)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
30,512
32,004

Unrealised gains on investments
20,391
-

50,903
32,004


9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 Ordinary shares of £1 each
100
100



10.


Reserves

Profit and loss account

Included in profit and loss reserves are unrealised gains amounting to £61,174 (2023 - £7,252) which are not distributable.


11.


Charges

UBS AG has been granted a charge over all the cash and securities held in accounts with them.

 
Page 9