Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31truetrue2023-02-01falseprovision of urban landscape architectural services4950The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04583067 2023-02-01 2024-01-31 04583067 2022-02-01 2023-01-31 04583067 2024-01-31 04583067 2023-01-31 04583067 c:Director2 2023-02-01 2024-01-31 04583067 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 04583067 d:Buildings d:LongLeaseholdAssets 2024-01-31 04583067 d:Buildings d:LongLeaseholdAssets 2023-01-31 04583067 d:FurnitureFittings 2023-02-01 2024-01-31 04583067 d:FurnitureFittings 2024-01-31 04583067 d:FurnitureFittings 2023-01-31 04583067 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04583067 d:OfficeEquipment 2023-02-01 2024-01-31 04583067 d:OfficeEquipment 2024-01-31 04583067 d:OfficeEquipment 2023-01-31 04583067 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04583067 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 04583067 d:Goodwill 2023-02-01 2024-01-31 04583067 d:Goodwill 2024-01-31 04583067 d:Goodwill 2023-01-31 04583067 d:CurrentFinancialInstruments 2024-01-31 04583067 d:CurrentFinancialInstruments 2023-01-31 04583067 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 04583067 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 04583067 d:ShareCapital 2024-01-31 04583067 d:ShareCapital 2023-01-31 04583067 d:RetainedEarningsAccumulatedLosses 2024-01-31 04583067 d:RetainedEarningsAccumulatedLosses 2023-01-31 04583067 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-01-31 04583067 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-01-31 04583067 c:OrdinaryShareClass4 2023-02-01 2024-01-31 04583067 c:OrdinaryShareClass4 2024-01-31 04583067 c:OrdinaryShareClass4 2023-01-31 04583067 c:FRS102 2023-02-01 2024-01-31 04583067 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 04583067 c:FullAccounts 2023-02-01 2024-01-31 04583067 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 04583067 2 2023-02-01 2024-01-31 04583067 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 04583067 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 04583067 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 04583067 e:PoundSterling 2023-02-01 2024-01-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04583067










FABRIK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
FABRIK LIMITED
REGISTERED NUMBER: 04583067

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
32,000
36,000

Tangible assets
 5 
87,816
119,360

  
119,816
155,360

Current assets
  

Work in progress
  
7,145
13,780

Debtors: amounts falling due within one year
 6 
1,342,404
1,091,988

Cash at bank and in hand
 7 
526,713
401,094

  
1,876,262
1,506,862

Creditors: amounts falling due within one year
 8 
(511,128)
(435,871)

Net current assets
  
 
 
1,365,134
 
 
1,070,991

Total assets less current liabilities
  
1,484,950
1,226,351

Provisions for liabilities
  

Deferred tax
 10 
(22,307)
(26,477)

  
 
 
(22,307)
 
 
(26,477)

Net assets
  
1,462,643
1,199,874


Capital and reserves
  

Called up share capital 
 11 
106
106

Profit and loss account
  
1,462,537
1,199,768

  
1,462,643
1,199,874


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 profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
FABRIK LIMITED
REGISTERED NUMBER: 04583067
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 October 2024.




Mr. A. Smith
Director

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

Page 2

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

The entity is a private limited company, incorporated in England and Wales. The Registered Office is located at Lenten House, 16 Lenten Street, Alton, Hampshire, GU34 1HG. The principal activities are that of landscape and urban design.

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

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

Page 3

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
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.

 
2.4

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

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.

Page 4

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Profit and loss account over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.10

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 5

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.10
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 and the reducing balance basis.

Depreciation is provided on the following basis:

L/Term Leasehold Property
-
10 years straight line
Fixtures and fittings
-
25% reducing balance
Computer 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.

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

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.

Basic financial assets

Page 6

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 49 (2023 - 50).

Page 7

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
90,000



At 31 January 2024

90,000



Amortisation


At 1 February 2023
54,000


Charge for the year on owned assets
4,000



At 31 January 2024

58,000



Net book value



At 31 January 2024
32,000



At 31 January 2023
36,000



Page 8

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

5.


Tangible fixed assets





L/Term Leasehold Property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 February 2023
24,280
97,424
206,955
328,659


Additions
-
3,732
2,215
5,947


Disposals
(20)
-
-
(20)



At 31 January 2024

24,260
101,156
209,170
334,586



Depreciation


At 1 February 2023
12,835
76,803
119,661
209,299


Charge for the year on owned assets
2,426
5,631
29,414
37,471



At 31 January 2024

15,261
82,434
149,075
246,770



Net book value



At 31 January 2024
8,999
18,722
60,095
87,816



At 31 January 2023
11,445
20,621
87,294
119,360


6.


Debtors

2024
2023
£
£


Trade debtors
753,089
739,583

Amounts owed by group undertakings
509,226
259,823

Other debtors
52,891
53,305

Prepayments and accrued income
27,198
39,277

1,342,404
1,091,988


Page 9

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
526,713
401,094

526,713
401,094



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
35,811
31,666

Corporation tax
93,924
58,326

Other taxation and social security
245,174
256,513

Other creditors
55,987
55,119

Accruals and deferred income
80,232
34,247

511,128
435,871



9.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
526,713
401,094




Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.


10.


Deferred taxation




2024


£






At beginning of year
(26,477)


Charged to profit or loss
4,170



At end of year
(22,307)

Page 10

 
FABRIK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
10.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(22,307)
(26,477)

(22,307)
(26,477)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



106 (2023 - 106) Ordinary shares of £1.00 each
106
106

The previous categories of Ordinary 'A', 'B', and 'C' shares were all exchanged for Ordinary shares during the previous year as part of the acquisition agreement. 



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £138,902 (2023 - £138,552). Contributions totalling £18,400 (2023 - £17,552) were payable to the fund at the balance sheet date.


13.


Related party transactions

 The company is a fully owned subsidiary. FRS 102 does not require disclosure of transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is party to the transaction is wholly owned by such a member. 


14.


Controlling party

The ultimate parent company is Fabrik Trustees Limited, which is owned entirely by a trust, which is known as 'the fabrik Employee Ownership Trust'. That company has the same Registered Office address as Fabrik Limited. 

 
Page 11