Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30false2023-07-01falseNo description of principal activity2524truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05520001 2023-07-01 2024-06-30 05520001 2022-07-01 2023-06-30 05520001 2024-06-30 05520001 2023-06-30 05520001 c:Director1 2023-07-01 2024-06-30 05520001 c:Director2 2023-07-01 2024-06-30 05520001 d:MotorVehicles 2023-07-01 2024-06-30 05520001 d:MotorVehicles 2024-06-30 05520001 d:MotorVehicles 2023-06-30 05520001 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05520001 d:FurnitureFittings 2023-07-01 2024-06-30 05520001 d:FurnitureFittings 2024-06-30 05520001 d:FurnitureFittings 2023-06-30 05520001 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05520001 d:ComputerEquipment 2023-07-01 2024-06-30 05520001 d:ComputerEquipment 2024-06-30 05520001 d:ComputerEquipment 2023-06-30 05520001 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05520001 d:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 05520001 d:FreeholdInvestmentProperty 2024-06-30 05520001 d:FreeholdInvestmentProperty 2023-06-30 05520001 d:CurrentFinancialInstruments 2024-06-30 05520001 d:CurrentFinancialInstruments 2023-06-30 05520001 d:Non-currentFinancialInstruments 2024-06-30 05520001 d:Non-currentFinancialInstruments 2023-06-30 05520001 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 05520001 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 05520001 d:ShareCapital 2024-06-30 05520001 d:ShareCapital 2023-06-30 05520001 d:OtherMiscellaneousReserve 2023-07-01 2024-06-30 05520001 d:OtherMiscellaneousReserve 2024-06-30 05520001 d:OtherMiscellaneousReserve 2023-06-30 05520001 d:RetainedEarningsAccumulatedLosses 2024-06-30 05520001 d:RetainedEarningsAccumulatedLosses 2023-06-30 05520001 d:AcceleratedTaxDepreciationDeferredTax 2024-06-30 05520001 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 05520001 d:TaxLossesCarry-forwardsDeferredTax 2024-06-30 05520001 d:TaxLossesCarry-forwardsDeferredTax 2023-06-30 05520001 c:FRS102 2023-07-01 2024-06-30 05520001 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 05520001 c:FullAccounts 2023-07-01 2024-06-30 05520001 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05520001 2 2023-07-01 2024-06-30 05520001 6 2023-07-01 2024-06-30 05520001 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: 05520001










NEW LEAF DISTRIBUTION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2024

 
NEW LEAF DISTRIBUTION LIMITED
REGISTERED NUMBER: 05520001

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
130,851
54,923

Investments
 5 
38,000
38,000

Investment property
 6 
516,411
516,411

  
685,262
609,334

Current assets
  

Debtors: amounts falling due after more than one year
 7 
12,000
-

Debtors: amounts falling due within one year
 7 
929,626
531,384

Cash at bank and in hand
  
1,959,638
1,953,767

  
2,901,264
2,485,151

Creditors: amounts falling due within one year
 8 
(830,201)
(510,719)

Net current assets
  
 
 
2,071,063
 
 
1,974,432

Total assets less current liabilities
  
2,756,325
2,583,766

Provisions for liabilities
  

Deferred tax
 9 
(22,685)
(10,435)

  
 
 
(22,685)
 
 
(10,435)

Net assets
  
2,733,640
2,573,331


Capital and reserves
  

Called up share capital 
  
30,010
30,010

Other reserves
 10 
15,414
15,827

Profit and loss account
 10 
2,688,216
2,527,494

  
2,733,640
2,573,331


Page 1

 
NEW LEAF DISTRIBUTION LIMITED
REGISTERED NUMBER: 05520001

BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 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 on 22 October 2024.







M A Hobbs
D Hobbs
Director
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

New Leaf Distribution 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.

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

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

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

Page 3

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 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 Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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 balance sheet 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 balance sheet 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 balance sheet date.


 
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.

Page 4

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

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:

Motor vehicles
-
25%
Fixtures and fittings
-
25%
Computer 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.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

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 income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.13

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.

 
2.14

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 25 (2023 - 24).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 July 2023
3,899
56,737
128,137
188,773


Additions
50,000
32,387
15,416
97,803



At 30 June 2024

53,899
89,124
143,553
286,576



Depreciation


At 1 July 2023
1,843
32,828
99,180
133,851


Charge for the year on owned assets
6,764
6,242
8,868
21,874



At 30 June 2024

8,607
39,070
108,048
155,725



Net book value



At 30 June 2024
45,292
50,054
35,505
130,851



At 30 June 2023
2,057
23,909
28,957
54,923

Page 6

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


At 1 July 2023
38,000



At 30 June 2024
38,000





6.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
516,411



At 30 June 2024
516,411

The 2024 valuations were made by Hopson Property Service, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
499,275
499,275

499,275
499,275


7.


Debtors

2024
2023
£
£

Due after more than one year

Other debtors
12,000
-

12,000
-


2024
2023
£
£

Due within one year
Page 7

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

7.Debtors (continued)


Trade debtors
685,028
262,410

Amounts owed by joint ventures and associated undertakings
45,986
45,913

Prepayments and accrued income
198,612
223,061

929,626
531,384



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
547,034
223,048

Corporation tax
126,173
144,364

Other taxation and social security
94,203
107,934

Other creditors
9,639
3,664

Accruals and deferred income
53,152
31,709

830,201
510,719



9.


Deferred taxation




2024


£






At beginning of year
(10,435)


Charged to profit or loss
(12,250)



At end of year
(22,685)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(20,963)
(10,435)

Tax on property revaluations
(1,722)
-

(22,685)
(10,435)

Page 8

 
NEW LEAF DISTRIBUTION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Reserves

Other reserves

This is a non distributable reserve which contains fair value gains on investment properties and the associated deferred tax.


11.


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 £186,491 (2023 - £209,493).Contributions totalling £9,391 (2023 - £3,416) were payable to the fund at the balance sheet date and are included in creditors


12.


Related party transactions

At the year end the company was owed £45,479 (2023: £45,406) from New Leaf (WWF) Ltd a company with directors and shareholders in common.


Page 9