Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31truefalse22023-04-01falseNo description of principal activity2falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04593883 2023-04-01 2024-03-31 04593883 2022-04-01 2023-03-31 04593883 2024-03-31 04593883 2023-03-31 04593883 2022-04-01 04593883 c:Director1 2023-04-01 2024-03-31 04593883 d:CurrentFinancialInstruments 2024-03-31 04593883 d:CurrentFinancialInstruments 2023-03-31 04593883 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 04593883 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 04593883 d:ShareCapital 2023-04-01 2024-03-31 04593883 d:ShareCapital 2024-03-31 04593883 d:ShareCapital 2022-04-01 2023-03-31 04593883 d:ShareCapital 2023-03-31 04593883 d:ShareCapital 2022-04-01 04593883 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 04593883 d:CapitalRedemptionReserve 2024-03-31 04593883 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 04593883 d:CapitalRedemptionReserve 2023-03-31 04593883 d:CapitalRedemptionReserve 2022-04-01 04593883 d:RevaluationReserve 2023-04-01 2024-03-31 04593883 d:RevaluationReserve 2024-03-31 04593883 d:RevaluationReserve 2022-04-01 2023-03-31 04593883 d:RevaluationReserve 2023-03-31 04593883 d:RevaluationReserve 2022-04-01 04593883 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04593883 d:RetainedEarningsAccumulatedLosses 2024-03-31 04593883 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04593883 d:RetainedEarningsAccumulatedLosses 2023-03-31 04593883 d:RetainedEarningsAccumulatedLosses 2022-04-01 04593883 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-01 2024-03-31 04593883 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-03-31 04593883 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-03-31 04593883 c:FRS102 2023-04-01 2024-03-31 04593883 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04593883 c:FullAccounts 2023-04-01 2024-03-31 04593883 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04593883 2 2023-04-01 2024-03-31 04593883 6 2023-04-01 2024-03-31 04593883 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 04593883

























DISCUS MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
For the year ended 31 MARCH 2024













Fletcher & Partners
Chartered Accountants
Salisbury

 
DISCUS MANAGEMENT LIMITED
REGISTERED NUMBER: 04593883

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
12,886,697
11,018,667

  
12,886,697
11,018,667

Current assets
  

Stocks
  
-
819,248

Debtors: amounts falling due within one year
 6 
-
2,355

Cash at bank and in hand
 7 
1,049,346
491,516

  
1,049,346
1,313,119

Creditors: amounts falling due within one year
 8 
(62,017)
(50,844)

Net current assets
  
 
 
987,329
 
 
1,262,275

Total assets less current liabilities
  
13,874,026
12,280,942

Provisions for liabilities
  

Other provisions
 9 
(249,393)
(142,500)

  
 
 
(249,393)
 
 
(142,500)

Net assets
  
13,624,633
12,138,442


Capital and reserves
  

Called up share capital 
  
114
114

Revaluation reserve
  
701,501
701,501

Capital redemption reserve
  
6
6

Profit and loss account
  
12,923,012
11,436,821

  
13,624,633
12,138,442


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 income statement 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: 

D G Lingafelter
Page 1

 
DISCUS MANAGEMENT LIMITED
REGISTERED NUMBER: 04593883

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

Director
Date: 11 October 2024

The notes on pages 5 to 9 form part of these financial statements.

Page 2

 
DISCUS MANAGEMENT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 April 2023
114
6
701,501
11,436,821
12,138,442


Comprehensive income for the year

Profit for the year

-
-
-
1,848,991
1,848,991


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
1,848,991
1,848,991


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(362,800)
(362,800)


Total transactions with owners
-
-
-
(362,800)
(362,800)


At 31 March 2024
114
6
701,501
12,923,012
13,624,633


The notes on pages 5 to 9 form part of these financial statements.

Page 3

 
DISCUS MANAGEMENT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2023


Called up share capital
Capital redemption reserve
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£
£

At 1 April 2022
114
6
701,501
10,690,824
11,392,445


Comprehensive income for the year

Profit for the year

-
-
-
882,797
882,797


Other comprehensive income for the year
-
-
-
-
-


Total comprehensive income for the year
-
-
-
882,797
882,797


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
(136,800)
(136,800)


Total transactions with owners
-
-
-
(136,800)
(136,800)


At 31 March 2023
114
6
701,501
11,436,821
12,138,442


The notes on pages 5 to 9 form part of these financial statements.

Page 4

 
DISCUS MANAGEMENT LIMITED
 

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

1.


General information

Discus Management Limited is a private company limited by shares and incorporated in England and Wales with the registered number 04593883. Its registered office is York House, Castlewood, Ashley, Ringwood, Hampshire, BH24 2AX.

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

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.

 
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:

 
2.4

Interest income

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

 
2.5

Borrowing costs

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

Page 5

 
DISCUS MANAGEMENT LIMITED
 

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

2.Accounting policies (continued)

 
2.6

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 reporting 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 reporting 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 reporting date.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

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

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
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 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.

 
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.

Page 6

 
DISCUS MANAGEMENT LIMITED
 

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

2.Accounting policies (continued)

 
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

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.

 
2.13

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

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Turnover

2024
2023
£
£

Turnover includes the following


Income from shares in group undertakings
1,144,000
944,000

Income from other fixed asset investments
125,243
95,947

Interest received on listed investments
98,753
22,840

Other interest received
20,753
2,161

1,388,749
1,064,948

Page 7

 
DISCUS MANAGEMENT LIMITED
 

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

5.


Fixed asset investments





Investments in subsidiary companies
Listed investments
Total

£
£
£



Cost or valuation


At 1 April 2023
1,760,895
9,257,772
11,018,667


Additions
-
2,705,556
2,705,556


Disposals
-
(1,533,106)
(1,533,106)


Revaluations
-
695,580
695,580



At 31 March 2024
1,760,895
11,125,802
12,886,697





6.


Debtors

2024
2023
£
£


Other debtors
-
2,355

-
2,355



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,049,346
491,516

Less: bank overdrafts
(122)
-

1,049,224
491,516



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
122
-

Corporation tax
61,895
48,544

Other creditors
-
2,300

62,017
50,844


Page 8

 
DISCUS MANAGEMENT LIMITED
 

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

9.


Provisions



£





At 1 April 2023
142,500


Charged to profit or loss
106,893



At 31 March 2024
249,393


Page 9