Caseware UK (AP4) 2023.0.135 2023.0.135 2024-07-312024-07-3122023-08-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07694421 2023-08-01 2024-07-31 07694421 2022-08-01 2023-07-31 07694421 2024-07-31 07694421 2023-07-31 07694421 c:Director1 2023-08-01 2024-07-31 07694421 d:MotorVehicles 2023-08-01 2024-07-31 07694421 d:MotorVehicles 2024-07-31 07694421 d:MotorVehicles 2023-07-31 07694421 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07694421 d:FurnitureFittings 2023-08-01 2024-07-31 07694421 d:FurnitureFittings 2024-07-31 07694421 d:FurnitureFittings 2023-07-31 07694421 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07694421 d:ComputerEquipment 2023-08-01 2024-07-31 07694421 d:ComputerEquipment 2024-07-31 07694421 d:ComputerEquipment 2023-07-31 07694421 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07694421 d:OwnedOrFreeholdAssets 2023-08-01 2024-07-31 07694421 d:CurrentFinancialInstruments 2024-07-31 07694421 d:CurrentFinancialInstruments 2023-07-31 07694421 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 07694421 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07694421 d:ShareCapital 2024-07-31 07694421 d:ShareCapital 2023-07-31 07694421 d:RetainedEarningsAccumulatedLosses 2024-07-31 07694421 d:RetainedEarningsAccumulatedLosses 2023-07-31 07694421 c:OrdinaryShareClass1 2023-08-01 2024-07-31 07694421 c:OrdinaryShareClass1 2024-07-31 07694421 c:OrdinaryShareClass1 2023-07-31 07694421 c:OrdinaryShareClass2 2023-08-01 2024-07-31 07694421 c:OrdinaryShareClass2 2024-07-31 07694421 c:OrdinaryShareClass2 2023-07-31 07694421 c:OrdinaryShareClass3 2023-08-01 2024-07-31 07694421 c:OrdinaryShareClass3 2024-07-31 07694421 c:OrdinaryShareClass3 2023-07-31 07694421 c:OrdinaryShareClass4 2023-08-01 2024-07-31 07694421 c:OrdinaryShareClass4 2024-07-31 07694421 c:OrdinaryShareClass4 2023-07-31 07694421 c:OrdinaryShareClass5 2023-08-01 2024-07-31 07694421 c:OrdinaryShareClass5 2024-07-31 07694421 c:OrdinaryShareClass5 2023-07-31 07694421 c:FRS102 2023-08-01 2024-07-31 07694421 c:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 07694421 c:FullAccounts 2023-08-01 2024-07-31 07694421 c:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 07694421












SLG ECONOMICS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


 
REGISTERED NUMBER:07694421
SLG ECONOMICS LTD

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,282
11,043

  
8,282
11,043

Current assets
  

Debtors: amounts falling due within one year
 5 
2,456
-

Cash at bank and in hand
  
102,176
150,280

  
104,632
150,280

Creditors: amounts falling due within one year
 6 
(19,912)
(13,621)

Net current assets
  
 
 
84,720
 
 
136,659

Total assets less current liabilities
  
93,002
147,702

  

Net assets
  
93,002
147,702


Capital and reserves
  

Called up share capital 
 7 
103
103

Profit and loss account
  
92,899
147,599

Total equity
  
93,002
147,702


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 by:

 
S L Gibson
Director

Page 1


 
REGISTERED NUMBER:07694421
SLG ECONOMICS LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

Date: 20 October 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 

SLG ECONOMICS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

SLG Economics Ltd is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, United Kingdom, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. 

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

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
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

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

 

SLG ECONOMICS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.4
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:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
Computer equipment
-
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.


2.5

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including other debtors and cash and bank balances are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

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

Page 4

 

SLG ECONOMICS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.6

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.

  
2.7

Share capital

Ordinary shares are classified as equity.

Page 5

 

SLG ECONOMICS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
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 arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
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 2 (2023 - 2).

Page 6

 

SLG ECONOMICS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost 


At 1 August 2023
30,357
3,500
5,570
39,427



At 31 July 2024

30,357
3,500
5,570
39,427



Depreciation


At 1 August 2023
20,752
3,352
4,280
28,384


Charge for the year
2,401
37
323
2,761



At 31 July 2024

23,153
3,389
4,603
31,145



Net book value



At 31 July 2024
7,204
111
967
8,282



At 31 July 2023
9,605
148
1,290
11,043


5.


Debtors

2024
2023
£
£


Trade debtors
2,375
-

Other debtors
81
-

2,456
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,200
1,200

Corporation tax
-
8,829

Other taxation and social security
2,486
32

Other creditors
14,126
1,560

Accruals and deferred income
2,100
2,000

19,912
13,621


Page 7

 

SLG ECONOMICS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50 (2023 - 50) Ordinary Class A shares of £1.00 each
50
50
50 (2023 - 50) Ordinary Class B shares of £1.00 each
50
50
1 (2023 - 1) Ordinary Class C share of £1.00
1
1
1 (2023 - 1) Ordinary Class D share of £1.00
1
1
1 (2023 - 1) Ordinary Class E share of £1.00
1
1

103

103



8.


Related party transactions

Included within other creditors is the total amount of £5,126 (2023: £1,560) owed to the directors. The loans are provided interest free and are unsecured. There are no formal terms and conditions regarding repayment of the loans.

 
Page 8