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Company registration number: 07797893







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024


STEWARDSHIP WILLS AND PROBATE LIMITED






































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STEWARDSHIP WILLS AND PROBATE LIMITED
 


 
COMPANY INFORMATION


Director
A E Brinded 




Company secretary
R M Potter



Registered number
07797893



Registered office
The Technopole
Kingston Crescent

Portsmouth

Hampshire

PO2 8FA




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX




Bankers
Royal Bank of Scotland Plc
3A Edinburgh Road

Portsmouth

PO1 1DA





 


STEWARDSHIP WILLS AND PROBATE LIMITED
 



CONTENTS



Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 7


 


STEWARDSHIP WILLS AND PROBATE LIMITED
REGISTERED NUMBER:07797893



STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,586
1,193

  
1,586
1,193

Current assets
  

Debtors: amounts falling due within one year
 5 
8,168
25,251

Cash at bank and in hand
  
18,332
37,433

  
26,500
62,684

Creditors: amounts falling due within one year
 6 
(11,722)
(28,037)

Net current assets
  
 
 
14,778
 
 
34,647

Total assets less current liabilities
  
16,364
35,840

Provisions for liabilities
  

Deferred tax
  
-
(227)

  
 
 
-
 
 
(227)

Net assets
  
16,364
35,613


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
16,264
35,513

  
16,364
35,613


Page 1

 


STEWARDSHIP WILLS AND PROBATE LIMITED
REGISTERED NUMBER:07797893


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

The director considers 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 director acknowledges his 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 Brinded
Director

Date: 31 October 2024

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

Page 2

 


STEWARDSHIP WILLS AND PROBATE LIMITED
 


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

1.


General information

Stewardship Wills and Probate Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.

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

Going concern

The directors have reviewed the Company's financial position for a period in excess of 12 months from the date that the accounts are authorised for issue and have formed a reasonable expectation that it has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

 
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:

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.

 
2.4

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.

Page 3

 


STEWARDSHIP WILLS AND PROBATE LIMITED
 


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

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

 
2.6

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, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%

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.

Page 4

 


STEWARDSHIP WILLS AND PROBATE LIMITED
 


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

2.Accounting policies (continued)

 
2.7

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.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

 
2.9

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 4 (2023 - 4).

Page 5

 


STEWARDSHIP WILLS AND PROBATE LIMITED
 


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

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 April 2023
3,460


Additions
920



At 31 March 2024

4,380



Depreciation


At 1 April 2023
2,266


Charge for the year on owned assets
528



At 31 March 2024

2,794



Net book value



At 31 March 2024
1,586



At 31 March 2023
1,193


5.


Debtors

2024
2023
£
£


Trade debtors
4,129
13,107

Other debtors
3,163
10,881

Prepayments and accrued income
876
1,263

8,168
25,251


Page 6

 


STEWARDSHIP WILLS AND PROBATE LIMITED
 


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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
369
-

Corporation tax
-
2,063

Other taxation and social security
9,238
13,765

Other creditors
-
4,025

Accruals and deferred income
2,115
8,184

11,722
28,037



7.


Related party transactions

There are no material related party transactions that require disclosure under Financial Reporting Standard 102 Small Entities 1A.

 
Page 7