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Registered number: 07703367










ASSURE CONSULTING (BEDFORD) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ASSURE CONSULTING (BEDFORD) LIMITED
REGISTERED NUMBER: 07703367

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 4 
35,963
43,840

Current assets
  

Debtors: amounts falling due within one year
 5 
1,437,853
1,211,023

Cash at bank and in hand
 6 
1,152,961
1,242,437

  
2,590,814
2,453,460

Creditors: amounts falling due within one year
 7 
(916,181)
(531,266)

Net current assets
  
 
 
1,674,633
 
 
1,922,194

Total assets less current liabilities
  
1,710,596
1,966,034

Provisions for liabilities
  

Deferred tax
 8 
(2,920)
(724)

Net assets
  
1,707,676
1,965,310


Capital and reserves
  

Called up share capital 
 9 
116
116

Share premium account
  
115,459
115,459

Profit and loss account
  
1,592,101
1,849,735

  
1,707,676
1,965,310

Page 1

 
ASSURE CONSULTING (BEDFORD) LIMITED
REGISTERED NUMBER: 07703367
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

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: 




................................................
Lee Mason
Director

Date: 7 November 2024


The notes on pages 4 to 10 form part of these financial statements.
Page 2

 
ASSURE CONSULTING (BEDFORD) LIMITED
 

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


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£


At 1 January 2022
116
115,459
377,883
493,458


Comprehensive income for the year

Profit for the year
-
-
1,971,812
1,971,812


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(499,960)
(499,960)



At 1 January 2023
116
115,459
1,849,735
1,965,310


Comprehensive income for the year

Profit for the year
-
-
2,142,823
2,142,823


Contributions to Employee Ownership Trust

Contributions paid
-
-
(2,400,457)
(2,400,457)


At 31 December 2023
116
115,459
1,592,101
1,707,676


The notes on pages 4 to 10 form part of these financial statements.
Page 3

 
ASSURE CONSULTING (BEDFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Assure Consulting (Bedford) Limited is a private limited Company, incorporated in England and Wales.
The registered office is Moorgate House, 201 Silbury Boulevard, Milton Keynes, MK9 1LZ.
The principal place of business is Princeton Court, The Pilgrim Centre, Brickhill Drive, Bedford, 
MK41 7PZ.

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 rounded to the nearest £1.

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.

Page 4

 
ASSURE CONSULTING (BEDFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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

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.

 
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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

  
2.6

Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing difference are expected to reverse.
Deferred tax assets and liabilities are not discounted.

Page 5

 
ASSURE CONSULTING (BEDFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25% per annum
Computer equipment
-
33% per annum

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.

 
2.8

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

Financial instruments

The Company only enters into basic financial instruments 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.

 
2.12

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 6

 
ASSURE CONSULTING (BEDFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 50 (2022 - 47).


4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2023
29,650
137,316
166,966


Additions
5,284
11,935
17,219



At 31 December 2023

34,934
149,251
184,185



Depreciation


At 1 January 2023
28,379
94,747
123,126


Charge for the year on owned assets
1,537
23,559
25,096



At 31 December 2023

29,916
118,306
148,222



Net book value



At 31 December 2023
5,018
30,945
35,963



At 31 December 2022
1,271
42,569
43,840


5.


Debtors

2023
2022
£
£


Trade debtors
1,103,380
1,023,215

Amounts owed by group undertakings
6,030
-

Prepayments and accrued income
328,443
187,808

1,437,853
1,211,023



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,152,961
1,242,437


Page 7

 
ASSURE CONSULTING (BEDFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
59,338
29,858

Amounts owed to group undertakings
-
2,704

Corporation tax
397,805
128,398

Other taxation and social security
419,580
333,591

Other creditors
30
30

Accruals and deferred income
39,428
36,685

916,181
531,266


2023
2022
£
£

Other taxation and social security

PAYE/NI control
153,081
76,963

VAT
266,499
256,628

419,580
333,591


Page 8

 
ASSURE CONSULTING (BEDFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Deferred taxation




2023
2022


£

£






At beginning of year
724
724


Charged to profit or loss
2,196
-



At end of year
2,920
724

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
2,920
724


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



116 (2020 :116) Ordinary shares of £1.00 each
116
116



10.


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 £135,881 (2022: £136,272). Contributions totalling £27,494 (2022: £13,944) were payable to the fund at the balance sheet date.


11.


Commitments under operating leases

At 31 December 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
57,000
52,800

Later than 1 year and not later than 5 years
38,000
92,417

95,000
145,217

Page 9

 
ASSURE CONSULTING (BEDFORD) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

12.


Related party transactions

As at the year end, there was an intercompany balance outstanding from Assure Consulting (Holdings) Limited, the ultimate parent company of £6,030 (2022 - £2,704 owing to). 
Dividends paid to the parent company Assure Consulting (Holdings) Limited amount to £Nil (2022 - £431,000).
Intercompany management charges paid to Assure Consulting (Holdings) Limited amounted to £Nil (2022 - £35,000).
During the year the company made contributions totalling £2,400,457 to Assure Consulting EOT Limited

 
Page 10