Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-3125false2023-02-01falseNo description of principal activity40truefalse 09971751 2023-02-01 2024-01-31 09971751 2022-02-01 2023-01-31 09971751 2024-01-31 09971751 2023-01-31 09971751 c:Director1 2023-02-01 2024-01-31 09971751 d:Buildings d:LongLeaseholdAssets 2023-02-01 2024-01-31 09971751 d:Buildings d:LongLeaseholdAssets 2024-01-31 09971751 d:Buildings d:LongLeaseholdAssets 2023-01-31 09971751 d:PlantMachinery 2023-02-01 2024-01-31 09971751 d:PlantMachinery 2024-01-31 09971751 d:PlantMachinery 2023-01-31 09971751 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09971751 d:MotorVehicles 2023-02-01 2024-01-31 09971751 d:MotorVehicles 2024-01-31 09971751 d:MotorVehicles 2023-01-31 09971751 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09971751 d:OfficeEquipment 2023-02-01 2024-01-31 09971751 d:OfficeEquipment 2024-01-31 09971751 d:OfficeEquipment 2023-01-31 09971751 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09971751 d:ComputerEquipment 2023-02-01 2024-01-31 09971751 d:ComputerEquipment 2024-01-31 09971751 d:ComputerEquipment 2023-01-31 09971751 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09971751 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 09971751 d:Goodwill 2024-01-31 09971751 d:Goodwill 2023-01-31 09971751 d:CurrentFinancialInstruments 2024-01-31 09971751 d:CurrentFinancialInstruments 2023-01-31 09971751 d:Non-currentFinancialInstruments 2024-01-31 09971751 d:Non-currentFinancialInstruments 2023-01-31 09971751 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 09971751 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09971751 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 09971751 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 09971751 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 09971751 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 09971751 d:ShareCapital 2024-01-31 09971751 d:ShareCapital 2023-01-31 09971751 d:RetainedEarningsAccumulatedLosses 2024-01-31 09971751 d:RetainedEarningsAccumulatedLosses 2023-01-31 09971751 d:AcceleratedTaxDepreciationDeferredTax 2024-01-31 09971751 d:AcceleratedTaxDepreciationDeferredTax 2023-01-31 09971751 c:OrdinaryShareClass1 2023-02-01 2024-01-31 09971751 c:OrdinaryShareClass1 2024-01-31 09971751 c:OrdinaryShareClass1 2023-01-31 09971751 c:FRS102 2023-02-01 2024-01-31 09971751 c:Audited 2023-02-01 2024-01-31 09971751 c:FullAccounts 2023-02-01 2024-01-31 09971751 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 09971751 d:WithinOneYear 2024-01-31 09971751 d:BetweenOneFiveYears 2024-01-31 09971751 d:MoreThanFiveYears 2024-01-31 09971751 d:HirePurchaseContracts d:WithinOneYear 2024-01-31 09971751 d:HirePurchaseContracts d:WithinOneYear 2023-01-31 09971751 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-01-31 09971751 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-01-31 09971751 c:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 09971751 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-31 09971751 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-31 09971751 d:LeasedAssetsHeldAsLessee 2024-01-31 09971751 d:LeasedAssetsHeldAsLessee 2023-01-31 09971751 d:Goodwill d:OwnedIntangibleAssets 2023-02-01 2024-01-31 09971751 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure
Company registration number: 09971751







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JANUARY 2024


THE SAUSAGE MAN UK LIMITED






































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THE SAUSAGE MAN UK LIMITED
REGISTERED NUMBER:09971751



BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
  
65,000
97,500

Tangible assets
  
529,427
671,325

  
594,427
768,825

Current assets
  

Stocks
  
673,322
812,560

Debtors Within One Year
 8 
547,567
784,122

Cash at bank and in hand
  
867,213
231,722

  
2,088,102
1,828,404

Creditors: amounts falling due within one year
  
(885,763)
(1,851,131)

Net current assets/(liabilities)
  
 
 
1,202,339
 
 
(22,727)

Total assets less current liabilities
  
1,796,766
746,098

Creditors: amounts falling due after more than one year
  
(155,366)
(203,753)

Provisions for liabilities
  

Deferred tax
 14 
(148,164)
-

Other provisions
  
(6,850)
(6,850)

Net assets
  
 
 
1,486,386
 
 
535,495


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
1,486,286
535,395

  
1,486,386
535,495


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 comprehensive income 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 23 October 2024.

C L Halvorsen
Director

The notes on pages 2 to 9 form part of these financial statements.

Page 1

 


THE SAUSAGE MAN UK LIMITED
 


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

1.


General information

The Sausage Man UK Limited is a private company, limited by shares, registered in England and Wales.The company's registered number and registered office address can be found on the Company Information page.
The presentation currency of the financial statements is the Pound Sterling (£).


2.


Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "TheFinancial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section1A "Small Entities" and the Companies Act 2006

3.Accounting policies

 
3.1

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:

  
3.2

Significant Judgements and estimates

No significant judgements or estimates have had to be made by the directors in preparing these financial statements

  
3.3

Revenue

Revenue represents the total invoice value, excluding value added tax, trade discounts and all other direct taxes made during the year.

  
3.4

Revenue recognition

Revenue is recognised when goods have been delivered or services supplied to customers such that risks and rewards of ownership have transferred to them.

  
3.5

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

  
3.6

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Page 2

 


THE SAUSAGE MAN UK LIMITED
 


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

3.Accounting policies (continued)

  
3.7

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property        - 25% on cost
Plant and machinery                 - 10% on cost
Motor vehicles                            - 25% on reducing balance

  
3.8

Inventories

Inventories and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

  
3.9

Tax

Tax for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred tax assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

  
3.10

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result

  
3.11

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

  
3.12

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

  
3.13

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.

Page 3

 


THE SAUSAGE MAN UK LIMITED
 


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

4.


Employees

The average monthly number of employees, including directors, during the year was 25 (2023 - 40).


5.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £950,905 (2023 - loss £435,214).


6.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
325,000



At 31 January 2024

325,000



Amortisation


At 1 February 2023
227,500


Charge for the year on owned assets
32,500



At 31 January 2024

260,000



Net book value



At 31 January 2024
65,000



At 31 January 2023
97,500



Page 4

 


THE SAUSAGE MAN UK LIMITED
 


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

7.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£
£
£



Cost or valuation


At 1 February 2023
167,369
255,488
184,692
217,919
148,315
973,783


Additions
-
-
35,900
-
-
35,900


Disposals
-
(1,224)
-
-
-
(1,224)



At 31 January 2024

167,369
254,264
220,592
217,919
148,315
1,008,459



Depreciation


At 1 February 2023
26,295
64,525
65,795
129,514
16,331
302,460


Charge for the year on owned assets
41,842
26,162
38,266
22,101
49,439
177,810


Disposals
-
(1,238)
-
-
-
(1,238)



At 31 January 2024

68,137
89,449
104,061
151,615
65,770
479,032



Net book value



At 31 January 2024
99,232
164,815
116,531
66,304
82,545
529,427



At 31 January 2023
141,075
190,963
118,897
88,406
131,984
671,325

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
90,583
87,477

90,583
87,477

Page 5

 


THE SAUSAGE MAN UK LIMITED
 


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

8.


Debtors

2024
2023
£
£


Trade debtors
312,497
460,898

Other debtors
139,231
143,754

Prepayments and accrued income
90,436
95,200

Tax recoverable
5,403
2,853

Deferred taxation
-
81,417

547,567
784,122



9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
867,213
231,722

867,213
231,722



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
43,532
39,277

Trade creditors
238,508
749,809

Corporation tax
159,009
42,233

Other taxation and social security
47,834
61,989

Hire purchase contacts
30,594
20,106

Other creditors
13,251
651,877

Accruals and deferred income
353,035
285,840

885,763
1,851,131


Page 6

 


THE SAUSAGE MAN UK LIMITED
 


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

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
94,733
138,264

Net obligations under finance leases and hire purchase contracts
60,633
65,489

155,366
203,753


The following liabilities were secured:




Details of security provided:

Bank loans above are secured by way of a fixed charge over the freehold property and long leasehold property owned by the company and included within property, plant and equipment.
Amounts falling due under hire purchase contracts are secured against the assets concerned.
Security has also been provided to the company bankers by way of a fixed and floating charge over all assets of the company.


12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Other loans
43,532
39,277


43,532
39,277


Amounts falling due 2-5 years

Bank loans
94,733
138,264


94,733
138,264


138,265
177,541


Page 7

 


THE SAUSAGE MAN UK LIMITED
 


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

13.


Hire purchases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
30,594
20,106

Between 1-5 years
60,633
65,489

91,227
85,595


14.


Deferred taxation




2024


£






At beginning of year
81,417


Charged to profit or loss
(229,581)



At end of year
(148,164)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(148,164)
81,417

(148,164)
81,417


15.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary Share Capital shares of £1.00 each
100
100


Page 8

 


THE SAUSAGE MAN UK LIMITED
 


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

16.


Commitments under operating leases

At 31 January 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
£


Not later than 1 year
244,696

Later than 1 year and not later than 5 years
978,784

Later than 5 years
1,088,484

2,311,964


17.


Related party transactions

At the year end nil (2023: £110,000) was owed to one director in the form of a directors loan and
nil (2023: £143,900) was owed to the shareholder in the form of a loan. Both loans are interest free and repayable on demand


18.


Auditors' information

The auditors' report on the financial statements for the year ended 31 January 2024 was unqualified.

The audit report was signed on 29 October 2024 by James Fox ACA FCCA (Senior statutory auditor) on behalf of Menzies LLP.

 
Page 9