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Registered number: 02079929










FENWICK ENGINEERING TECHNOLOGY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
FENWICK ENGINEERING TECHNOLOGY LIMITED
REGISTERED NUMBER:02079929

BALANCE SHEET
AS AT 30 APRIL 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
-
106,360

Current assets
  

Debtors: amounts falling due after more than one year
 5 
237,401
231,611

Debtors: amounts falling due within one year
 5 
162,820
161,728

Cash at bank and in hand
  
308,398
319,321

  
708,619
712,660

Creditors: amounts falling due within one year
 6 
(177,807)
(297,149)

Net current assets
  
 
 
530,812
 
 
415,511

Provisions for liabilities
  

Deferred tax
  
-
(4,040)

Net assets
  
530,812
517,831


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
530,810
517,829

  
530,812
517,831


Page 1

 
FENWICK ENGINEERING TECHNOLOGY LIMITED
REGISTERED NUMBER:02079929
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 10 October 2024.




V G Gallagher
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
FENWICK ENGINEERING TECHNOLOGY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Fenwick Engineering Technology Limited is a private company limited by shares, incorporated in England and Wales (registered number: 02079929). Its registered office is 2 Ashgate Road, Chesterfield, Derbyshire, S40 4AA. The principal activity of the Company throughout the year continued to be that of investment.

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 company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Valuation of investments

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

 
2.3

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction,  the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Page 3

 
FENWICK ENGINEERING TECHNOLOGY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.4

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.


3.


Employees

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

Page 4

 
FENWICK ENGINEERING TECHNOLOGY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Fixed asset investments





Unlisted investments

£





At 1 May 2023
106,360


Disposals
(106,360)



At 30 April 2024

-






Net book value



At 30 April 2024
-



At 30 April 2023
106,360

Page 5

 
FENWICK ENGINEERING TECHNOLOGY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Debtors

As restated
2024
2023
£
£

Due after more than one year

Other debtors
237,401
231,611


As restated
2024
2023
£
£

Due within one year

Other debtors
162,820
161,728



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
7,542
9,302

Other creditors
168,386
286,056

Accruals and deferred income
1,879
1,791

177,807
297,149



7.


Prior year adjustment

During the preparation of the accounts for the year ended 30 April 2024, we have amended the treatment of a loan made by the Company, which was previously shown under fixed asset investments, and is now shown within current assets.

 
Page 6