Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-311false2023-02-01falseNo description of principal activity1truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04641088 2023-02-01 2024-01-31 04641088 2022-02-01 2023-01-31 04641088 2024-01-31 04641088 2023-01-31 04641088 c:Director1 2023-02-01 2024-01-31 04641088 d:PlantMachinery 2023-02-01 2024-01-31 04641088 d:PlantMachinery 2024-01-31 04641088 d:PlantMachinery 2023-01-31 04641088 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04641088 d:MotorVehicles 2023-02-01 2024-01-31 04641088 d:MotorVehicles 2024-01-31 04641088 d:MotorVehicles 2023-01-31 04641088 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04641088 d:FurnitureFittings 2023-02-01 2024-01-31 04641088 d:FurnitureFittings 2024-01-31 04641088 d:FurnitureFittings 2023-01-31 04641088 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04641088 d:OfficeEquipment 2023-02-01 2024-01-31 04641088 d:OfficeEquipment 2024-01-31 04641088 d:OfficeEquipment 2023-01-31 04641088 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04641088 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04641088 d:CurrentFinancialInstruments 2024-01-31 04641088 d:CurrentFinancialInstruments 2023-01-31 04641088 d:Non-currentFinancialInstruments 2024-01-31 04641088 d:Non-currentFinancialInstruments 2023-01-31 04641088 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04641088 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04641088 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 04641088 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 04641088 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 04641088 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 04641088 c:FRS102 2023-02-01 2024-01-31 04641088 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04641088 c:FullAccounts 2023-02-01 2024-01-31 04641088 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04641088 6 2023-02-01 2024-01-31 04641088 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:pure

Registered number: 04641088










SOURCEC.COM LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024



 
SOURCEC.COM LIMITED
REGISTERED NUMBER: 04641088

STATEMENT OF FINANCIAL POSITION
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

  

Fixed assets
  

Tangible assets
 4 
12,016
15,087

Investments
 5 
540,850
180,850

  
552,866
195,937

Current assets
  

Stocks
  
107,752
185,901

Debtors
 6 
131,991
419,766

Cash at bank and in hand
  
995
690

  
240,738
606,357

Creditors: amounts falling due within one year
 7 
(2,707,550)
(2,673,193)

Net current liabilities
  
 
 
(2,466,812)
 
 
(2,066,836)

Total assets less current liabilities
  
(1,913,946)
(1,870,899)

  

Creditors: amounts falling due after more than one year
 8 
(13,333)
(23,331)

  
(1,927,279)
(1,894,230)

  

  

Net assets excluding pension asset
  
(1,927,279)
(1,894,230)

Net liabilities
  
(1,927,279)
(1,894,230)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(1,927,280)
(1,894,231)

  
(1,927,279)
(1,894,230)


Page 1

 
SOURCEC.COM LIMITED
REGISTERED NUMBER: 04641088
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JANUARY 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 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 26 September 2024.




C T G Williams
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
SOURCEC.COM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies

 
1.1

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 presentational currency of the Company is GBP.

The following principal accounting policies have been applied:

 
1.2

Going concern

At 31 January 2024, the company had net liabilities of £1,927,279. The company is reliant on the support of the director. It is the intention of the director to support the company and therefore these accounts have been prepared on a going concern basis.

 
1.3

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.

 
1.4

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.

 
1.5

Borrowing costs

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

 
1.6

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 3

 
SOURCEC.COM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.Accounting policies (continued)


1.6
Tangible fixed assets (continued)

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

Depreciation is provided on the following basis:

Plant & machinery
-
25%
reducing balance
Motor vehicles
-
25%
reducing balance
Fixtures & fittings
-
15%
reducing balance
Office equipment
-
33%
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.

 
1.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.9

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.

 
1.10

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 4

 
SOURCEC.COM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.


General information

SourceC.com Limited is a private company, limited by shares and incorporated in England.
Its registered number is: 04641088
The address of its Registered Office is: 
Invision House
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 February 2023
392
22,750
55
4,075
27,272



At 31 January 2024

392
22,750
55
4,075
27,272



Depreciation


At 1 February 2023
226
8,190
55
3,712
12,183


Charge for the year on owned assets
41
2,912
-
120
3,073



At 31 January 2024

267
11,102
55
3,832
15,256



Net book value



At 31 January 2024
125
11,648
-
243
12,016



At 31 January 2023
165
14,560
-
362
15,087

Page 5

 
SOURCEC.COM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 February 2023
180,850


Additions
360,000



At 31 January 2024
540,850





6.


Debtors

2024
2023
£
£



Amounts owed by related parties
131,991
419,766

131,991
419,766



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Other taxation and social security
43,648
31,319

Other creditors
2,652,152
2,630,574

Accruals and deferred income
1,750
1,300

2,707,550
2,673,193



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,333
23,331

13,333
23,331


Page 6

 
SOURCEC.COM LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
3,333
13,333


3,333
13,333


23,333
33,333


 
Page 7