Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-04-01false88truetruefalse 06876390 2023-04-01 2024-03-31 06876390 2022-04-01 2023-03-31 06876390 2024-03-31 06876390 2023-03-31 06876390 c:Director1 2023-04-01 2024-03-31 06876390 c:Director2 2023-04-01 2024-03-31 06876390 d:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 06876390 d:OtherPropertyPlantEquipment 2024-03-31 06876390 d:OtherPropertyPlantEquipment 2023-03-31 06876390 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06876390 d:Goodwill 2023-04-01 2024-03-31 06876390 d:Goodwill 2024-03-31 06876390 d:Goodwill 2023-03-31 06876390 d:CurrentFinancialInstruments 2024-03-31 06876390 d:CurrentFinancialInstruments 2023-03-31 06876390 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 06876390 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 06876390 d:ShareCapital 2024-03-31 06876390 d:ShareCapital 2023-03-31 06876390 d:RetainedEarningsAccumulatedLosses 2024-03-31 06876390 d:RetainedEarningsAccumulatedLosses 2023-03-31 06876390 c:FRS102 2023-04-01 2024-03-31 06876390 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 06876390 c:FullAccounts 2023-04-01 2024-03-31 06876390 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06876390 2 2023-04-01 2024-03-31 06876390 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 06876390 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 06876390









ONE STOP FINANCE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
ONE STOP FINANCE LIMITED
REGISTERED NUMBER: 06876390

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
223
297

Tangible assets
 5 
96
128

  
319
425

Current assets
  

Stocks
  
42,554
90,204

Debtors: amounts falling due within one year
 6 
-
10,682

Cash at bank and in hand
 7 
174,164
102,259

  
216,718
203,145

Creditors: amounts falling due within one year
 8 
(36,792)
(11,945)

Net current assets
  
 
 
179,926
 
 
191,200

Total assets less current liabilities
  
180,245
191,625

  

Net assets
  
180,245
191,625


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
180,244
191,624

  
180,245
191,625


Page 1

 
ONE STOP FINANCE LIMITED
REGISTERED NUMBER: 06876390
    
BALANCE SHEET (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 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 15 October 2024.




................................................
S Burkin
................................................
M Rolle
Director
Director

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

Page 2

 
ONE STOP FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

One Stop Finance Limited is a private company limited by shares. The company is incorporated in England & Wales and its trading address is Elwood House, 42 Lytton Road, New Barnet, Herts, EN5 5BY. The registered number is 06876390.

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

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.

 
2.3

Interest income

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

 
2.4

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 3

 
ONE STOP FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

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 balance sheet date in the countries where the Company operates and generates income.

 
2.6

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 Statement of income and retained earnings 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.

 
2.7

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:

Other fixed assets
-
25% 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.

Page 4

 
ONE STOP FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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 balance sheet 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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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

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
Page 5

 
ONE STOP FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

initially measured at their transaction price after transaction costs. 



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. 

 
2.13

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.


3.


Employees

2024
2023
£
£

Wages and salaries
219,934
236,936

Social security costs
14,197
17,336

Cost of defined contribution scheme
4,300
11,476

238,431
265,748


The average monthly number of employees, including directors, during the year was 8 (2023 - 8).

Page 6

 
ONE STOP FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
10,000



At 31 March 2024

10,000



Amortisation


At 1 April 2023
9,703


Charge for the year on owned assets
74



At 31 March 2024

9,777



Net book value



At 31 March 2024
223



At 31 March 2023
297



Page 7

 
ONE STOP FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Other fixed assets

£



Cost or valuation


At 1 April 2023
2,843



At 31 March 2024

2,843



Depreciation


At 1 April 2023
2,715


Charge for the year on owned assets
32



At 31 March 2024

2,747



Net book value



At 31 March 2024
96



At 31 March 2023
128


6.


Debtors

2024
2023
£
£


Amounts owed by group undertakings
-
10,682

-
10,682



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
174,164
102,259

174,164
102,259


Page 8

 
ONE STOP FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to group undertakings
27,238
-

Corporation tax
3,056
4,938

Other taxation and social security
4,498
5,507

Accruals and deferred income
2,000
1,500

36,792
11,945



9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £4,300 (2023 - 11,476). 


10.


Related party transactions

At the balance sheet date, an amount of £27,238 (2023: £Nil) was owed to One Stop Finance Group Limited, the parent company. This loan is unsecured, interest free and there are no set repayment terms.
During the year, dividends totalling £24,223 (2023: £50,501) were paid to One Stop Finance Group Limited, the parent company.





11.


Controlling party

The company is a wholly owned subsidiary of One Stop Finance Group Limited, the parent company.

 
Page 9