Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3122023-04-01falsefalseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11701876 2023-04-01 2024-03-31 11701876 2022-04-01 2023-03-31 11701876 2024-03-31 11701876 c:KeyManagementIndividualGroup1 c:OtherTransactionType1 2024-03-31 11701876 c:KeyManagementIndividualGroup1 2023-04-01 2024-03-31 11701876 2023-03-31 11701876 d:Director2 2023-04-01 2024-03-31 11701876 c:CurrentFinancialInstruments 2024-03-31 11701876 c:CurrentFinancialInstruments 2023-03-31 11701876 c:Non-currentFinancialInstruments 2024-03-31 11701876 c:Non-currentFinancialInstruments 2023-03-31 11701876 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 11701876 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 11701876 c:ShareCapital 2024-03-31 11701876 c:ShareCapital 2023-03-31 11701876 c:RetainedEarningsAccumulatedLosses 2024-03-31 11701876 c:RetainedEarningsAccumulatedLosses 2023-03-31 11701876 d:FRS102 2023-04-01 2024-03-31 11701876 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11701876 d:FullAccounts 2023-04-01 2024-03-31 11701876 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11701876 2 2023-04-01 2024-03-31 11701876 6 2023-04-01 2024-03-31 11701876 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11701876










NOTTUD LTD








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
NOTTUD LTD
REGISTERED NUMBER: 11701876

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Fixed asset investments
 4 
8,412,210
7,611,944

Current assets
  

Debtors: amounts falling due after more than one year
 5 
4,304,722
5,875,607

Debtors: amounts falling due within one year
 5 
1,062,018
-

Cash at bank and in hand
  
609,430
678,387

  
5,976,170
6,553,994

Creditors: amounts falling due within one year
 6 
(1,953,510)
(1,857,654)

Net current assets
  
 
 
4,022,660
 
 
4,696,340

Total assets less current liabilities
  
12,434,870
12,308,284

  

Net assets
  
12,434,870
12,308,284


Capital and reserves
  

Called up share capital 
  
9,731,015
9,731,015

Profit and loss account
  
2,703,855
2,577,269

  
12,434,870
12,308,284


Page 1

 
NOTTUD LTD
REGISTERED NUMBER: 11701876
    
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 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 by: 




................................................
Mr J E Dutton
Director

Date: 29 October 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

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

1.


General information

NOTTUD Ltd (“the Company”) is a private company limited by shares, incorporated in England and Wales under the Companies Act. 
The registered number and address of the registered office are given in the company information.
The functional and presentational currency of the Company is pounds sterling (£) and rounded to the nearest whole pound.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Interest income

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

Page 3

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

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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 balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.6

Associates and joint ventures

Associates and Joint Ventures are held at cost less impairment.

 
2.7

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.

 
2.8

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.

 
2.9

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.

 
2.10

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows 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
Page 4

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

2.Accounting policies (continued)


2.10
Financial instruments (continued)

or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Investments in non-derivative instruments that are equity to the issuer are measured:
at fair value with changes recognised in the Statement of Comprehensive Income if the shares are publicly traded or their fair value can otherwise be measured reliably;
at cost less impairment for all other investments.

Financial assets that are 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 Statement of Comprehensive Income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

 
2.11

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).

Page 5

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

4.


Fixed asset investments





Investments in subsidiary companies
Investments in associates
Other fixed asset investments
Total

£
£
£
£



Cost or valuation


At 1 April 2023
999,000
5,920,200
692,744
7,611,944


Additions
-
-
782,640
782,640


Revaluations
-
-
17,626
17,626



At 31 March 2024
999,000
5,920,200
1,493,010
8,412,210




Cley Investments Limited is wholly owned subsidiary of NOTTUD Ltd.
 


5.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
4,304,722
5,875,607

4,304,722
5,875,607


2024
2023
£
£

Due within one year

Other debtors
1,056,018
-

Prepayments and accrued income
6,000
-

1,062,018
-


Page 6

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
12,420
11,506

Amounts owed to group undertakings
1,009,500
1,319,500

Corporation tax
44,475
10,013

Other creditors
882,855
513,665

Accruals and deferred income
4,260
2,970

1,953,510
1,857,654


Amounts owed to group undertakings are unsecured, interest free and repayable on demand. 


7.


Related party transactions

During the year transactions took place with the director. At the year end £582,855 (2023: £513,665) was due to the director, this balance is included within other creditors. No interest is charged on this loan and the loan is repayable on demand.
During the year the company loaned money to Rannoch Food Group Limited, a company under common control. The balance due from Rannoch Food Group Limited at the year end was £1,545,713 (2023: £1,428,000). This balance is included within other debtors due after more than one year and interest is charged on the loan at a rate of 8%. Rannoch Food Group Limited also made a short term loan to NOTTUD Ltd of £300,000, which was outstanding at the year end. This balance is included within other creditors is unsecured, repayable on demand and no interest has been charged. 

 
Page 7