Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31142023-06-01falseNo description of principal activity13truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04420757 2023-06-01 2024-05-31 04420757 2022-06-01 2023-05-31 04420757 2024-05-31 04420757 2023-05-31 04420757 c:Director6 2023-06-01 2024-05-31 04420757 d:CurrentFinancialInstruments 2024-05-31 04420757 d:CurrentFinancialInstruments 2023-05-31 04420757 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 04420757 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 04420757 d:ShareCapital 2024-05-31 04420757 d:ShareCapital 2023-05-31 04420757 d:CapitalRedemptionReserve 2024-05-31 04420757 d:CapitalRedemptionReserve 2023-05-31 04420757 d:RetainedEarningsAccumulatedLosses 2024-05-31 04420757 d:RetainedEarningsAccumulatedLosses 2023-05-31 04420757 c:OrdinaryShareClass1 2023-06-01 2024-05-31 04420757 c:OrdinaryShareClass1 2024-05-31 04420757 c:OrdinaryShareClass1 2023-05-31 04420757 c:FRS102 2023-06-01 2024-05-31 04420757 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 04420757 c:FullAccounts 2023-06-01 2024-05-31 04420757 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 04420757 2 2023-06-01 2024-05-31 04420757 6 2023-06-01 2024-05-31 04420757 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 04420757
















FLEMING FINANCIAL LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2024

































FLEMING FINANCIAL LIMITED
REGISTERED NUMBER:04420757

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 4 
50
50

  
50
50

Current assets
  

Debtors: amounts falling due within one year
 5 
45,939
36,576

Cash at bank and in hand
  
919,920
712,440

  
965,859
749,016

Creditors: amounts falling due within one year
 6 
(190,535)
(157,848)

Net current assets
  
 
 
775,324
 
 
591,168

Total assets less current liabilities
  
775,374
591,218

  

Net assets
  
775,374
591,218


Capital and reserves
  

Called up share capital 
 7 
1,584
1,584

Capital redemption reserve
  
1,937
1,937

Profit and loss account
  
771,853
587,697

  
775,374
591,218

Page 1


FLEMING FINANCIAL LIMITED
REGISTERED NUMBER:04420757
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 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 by: 





A E Browne
Director

Date: 25 October 2024

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

Page 2


FLEMING FINANCIAL LIMITED

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

1.


GENERAL INFORMATION

Fleming Financial Limited is a private limited liability company incorporated in England and Wales. The company's principal activity is financial intermediation.
The company’s registered number is 04420757.

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

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.

 
2.3

INTEREST INCOME

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

 
2.4

FINANCE COSTS

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3


FLEMING FINANCIAL LIMITED

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

2.ACCOUNTING POLICIES (continued)

 
2.5

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
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.

 
2.7

VALUATION OF INVESTMENTS

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 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.

 
2.8

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

Page 4


FLEMING FINANCIAL LIMITED

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

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 14 (2023: 13).


4.


FIXED ASSET INVESTMENTS





Investment in joint ventures

£



COST OR VALUATION


At 1 June 2023
50



At 31 May 2024
50





5.


DEBTORS

2024
2023
£
£


Trade debtors
19,806
8,427

Prepayments and accrued income
26,133
28,149

45,939
36,576



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Amounts owed to associates
18,633
10,762

Corporation tax
100,847
-

Other taxation and social security
17,619
19,227

Other creditors
21,532
78,901

Accruals and deferred income
31,904
48,958

190,535
157,848



7.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



1,584 (2023: 1,584) A Ordinary shares of £1.00 each
1,584
1,584


Page 5


FLEMING FINANCIAL LIMITED

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

8.


PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £45,781 (2023: £44,452). Contributions totalling £9,904 (2023: £11,331) were payable to the fund at the balance sheet date and are included in creditors.


9.


RELATED PARTY TRANSACTIONS

At the year end, the parent company was Bishop Fleming Investments Limited. After the year end, the ownership of the Company was transferred to Fleming Financial Holdings Limited.
The following entities are related to Fleming Financial Limited by virtue of being under common control:
    - Bishop Fleming LLP
The following entitles are related to Fleming Financial Limited by virtue of a joint venture investment:
    - I Financial Solutions Limited 
The following transactions and balances existed with related parties:

2024
2023
£
£
Bishop Fleming LLP (LLP)
Balance at year end owed to LLP (other creditors)

11,628

67,570
 
Bishop Fleming Investments Limited (BFI)
Management charges from BFI

78,000

78,000
 
I Financial Solutions Limited (IFS)
Management charges from IFS

4,842

5,019
 
Balance at year end owed to IFS

18,633

10,762
 

 
Page 6