Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01false55truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10018478 2023-04-01 2024-03-31 10018478 2022-04-01 2023-03-31 10018478 2024-03-31 10018478 2023-03-31 10018478 2022-04-01 10018478 c:Director1 2023-04-01 2024-03-31 10018478 d:PlantMachinery 2023-04-01 2024-03-31 10018478 d:PlantMachinery 2024-03-31 10018478 d:PlantMachinery 2023-03-31 10018478 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10018478 d:OfficeEquipment 2023-04-01 2024-03-31 10018478 d:OfficeEquipment 2024-03-31 10018478 d:OfficeEquipment 2023-03-31 10018478 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10018478 d:ComputerEquipment 2023-04-01 2024-03-31 10018478 d:ComputerEquipment 2024-03-31 10018478 d:ComputerEquipment 2023-03-31 10018478 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10018478 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10018478 d:Goodwill 2023-04-01 2024-03-31 10018478 d:Goodwill 2024-03-31 10018478 d:Goodwill 2023-03-31 10018478 d:CurrentFinancialInstruments 2024-03-31 10018478 d:CurrentFinancialInstruments 2023-03-31 10018478 d:Non-currentFinancialInstruments 2024-03-31 10018478 d:Non-currentFinancialInstruments 2023-03-31 10018478 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10018478 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10018478 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10018478 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10018478 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10018478 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10018478 d:ShareCapital 2023-04-01 2024-03-31 10018478 d:ShareCapital 2024-03-31 10018478 d:ShareCapital 2022-04-01 2023-03-31 10018478 d:ShareCapital 2023-03-31 10018478 d:ShareCapital 2022-04-01 10018478 d:CapitalRedemptionReserve 2023-04-01 2024-03-31 10018478 d:CapitalRedemptionReserve 2024-03-31 10018478 d:CapitalRedemptionReserve 2022-04-01 2023-03-31 10018478 d:CapitalRedemptionReserve 2023-03-31 10018478 d:CapitalRedemptionReserve 2022-04-01 10018478 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10018478 d:RetainedEarningsAccumulatedLosses 2024-03-31 10018478 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10018478 d:RetainedEarningsAccumulatedLosses 2023-03-31 10018478 d:RetainedEarningsAccumulatedLosses 2022-04-01 10018478 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10018478 c:OrdinaryShareClass1 2024-03-31 10018478 c:OrdinaryShareClass1 2023-03-31 10018478 c:FRS102 2023-04-01 2024-03-31 10018478 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10018478 c:FullAccounts 2023-04-01 2024-03-31 10018478 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10018478 d:HirePurchaseContracts d:WithinOneYear 2024-03-31 10018478 d:HirePurchaseContracts d:WithinOneYear 2023-03-31 10018478 d:HirePurchaseContracts d:BetweenOneFiveYears 2024-03-31 10018478 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-03-31 10018478 2 2023-04-01 2024-03-31 10018478 6 2023-04-01 2024-03-31 10018478 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 10018478 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 10018478










THATCOPYSHOP LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
THATCOPYSHOP LIMITED
REGISTERED NUMBER: 10018478

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
 4 
6,800
10,200

Tangible fixed assets
 5 
40,334
52,727

  
47,134
62,927

Current assets
  

Stocks
 6 
14,300
14,300

Debtors: amounts falling due after more than one year
 7 
375
-

Debtors: amounts falling due within one year
 7 
103,019
84,352

Bank and cash balances
  
2,910
11,560

  
120,604
110,212

Creditors: amounts falling due within one year
 8 
(76,376)
(63,003)

Net current assets
  
 
 
44,228
 
 
47,209

Total assets less current liabilities
  
91,362
110,136

Creditors: amounts falling due after more than one year
 9 
(80,820)
(99,651)

Provisions for liabilities
  

Deferred tax
  
(10,018)
(10,018)

  
 
 
(10,018)
 
 
(10,018)

Net assets
  
524
467


Capital and reserves
  

Called up share capital 
 12 
65
65

Capital redemption reserve
  
35
35

Profit and loss account
  
424
367

  
524
467


Page 1

 
THATCOPYSHOP LIMITED
REGISTERED NUMBER: 10018478

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 on 18 November 2024.




Jeremy Byron Franklin
Director

The notes on pages 5 to 13 form part of these financial statements.

Page 2

 
THATCOPYSHOP LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2023
65
35
367
467


Comprehensive income for the year

Profit for the year

-
-
15,057
15,057


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
15,057
15,057


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(15,000)
(15,000)


Total transactions with owners
-
-
(15,000)
(15,000)


At 31 March 2024
65
35
424
524


The notes on pages 5 to 13 form part of these financial statements.

Page 3

 
THATCOPYSHOP LIMITED
 

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


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£

At 1 April 2022
100
-
279
379


Comprehensive income for the year

Profit for the year

-
-
42,758
42,758


Other comprehensive income for the year
-
-
-
-


Total comprehensive income for the year
-
-
42,758
42,758


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(670)
(670)

Purchase of own shares
-
35
-
35

Shares cancelled during the year
(35)
-
-
(35)

Transfer to/from profit and loss account
-
-
(42,000)
(42,000)


Total transactions with owners
(35)
35
(42,670)
(42,670)


At 31 March 2023
65
35
367
467


The notes on pages 5 to 13 form part of these financial statements.

Page 4

 
THATCOPYSHOP LIMITED
 

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

1.


GENERAL INFORMATION

ThatCopyShop Limited is a UK company incorporated in England and Wales with a registered number of 10018478 and registered office of 14 Alexandra Road, Clevedon, BS21 7QE.

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:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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.

Page 5

 
THATCOPYSHOP LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.5

INTEREST INCOME

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

 
2.6

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.

 
2.7

BORROWING COSTS

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

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 6

 
THATCOPYSHOP LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

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.


 
2.10

INTANGIBLE ASSETS

GOODWILL

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of Income and Retained Earnings over its useful economic life.

OTHER INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

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 7

 
THATCOPYSHOP LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)


2.11
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:

Plant and machinery
-
25%
reducing balance
Office equipment
-
15%
reducing balance
Computer equipment
-
33%
straight line basis

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.

 
2.12

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 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.

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.13

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.14

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.

 
2.15

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.

Page 8

 
THATCOPYSHOP LIMITED
 

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.16

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.

 
2.17

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.

 
2.18

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

2024
£

Wages and salaries
68,485

Cost of defined contribution scheme
957

69,442


The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 9

 
THATCOPYSHOP LIMITED
 

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

4.


INTANGIBLE ASSETS



Goodwill

£



COST


At 1 April 2023
34,000



At 31 March 2024

34,000



AMORTISATION


At 1 April 2023
23,800


Charge for the year on owned assets
3,400



At 31 March 2024

27,200



NET BOOK VALUE



At 31 March 2024
6,800




5.


TANGIBLE FIXED ASSETS





Plant and machinery
Office equipment
Computer equipment
Total

£
£
£
£



COST OR VALUATION


At 1 April 2023
47,613
23,866
8,762
80,241


Additions
251
-
466
717



At 31 March 2024

47,864
23,866
9,228
80,958



DEPRECIATION


At 1 April 2023
8,367
10,905
8,242
27,514


Charge for the year on owned assets
9,848
1,944
1,318
13,110



At 31 March 2024

18,215
12,849
9,560
40,624



NET BOOK VALUE



At 31 March 2024
29,649
11,017
(332)
40,334

Page 10

 
THATCOPYSHOP LIMITED
 

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

6.


STOCKS

2024
2023
£
£

Stock
14,300
14,300

14,300
14,300



7.


DEBTORS

2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
375
-

375
-


2024
2023
£
£

DUE WITHIN ONE YEAR

Trade debtors
20,078
33,961

Other debtors
54,299
43,287

Prepayments and accrued income
10,316
7,104

Tax recoverable
18,326
-

103,019
84,352



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Bank overdrafts
9,276
10,745

Bank loans
7,177
6,166

Trade creditors
19,675
23,834

Corporation tax
25,743
-

Other taxation and social security
6,270
9,722

Obligations under finance lease and hire purchase contracts
7,369
7,369

Other creditors
155
167

Accruals and deferred income
711
5,000

76,376
63,003


Page 11

 
THATCOPYSHOP LIMITED
 

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

9.


CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024
2023
£
£

Bank loans
61,965
73,426

Net obligations under finance leases and hire purchase contracts
18,855
26,225

80,820
99,651



10.


LOANS


Analysis of the maturity of loans is given below:


2024
2023
£
£

AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans
7,177
6,166


7,177
6,166


AMOUNTS FALLING DUE 2-5 YEARS

Bank loans
61,965
73,426


61,965
73,426


69,142
79,592



11.


HIRE PURCHASE AND FINANCE LEASES


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
-
7,369

Between 1-5 years
-
26,225

-
33,594


12.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



65 (2023 - 65) Ordinary Class A shares of £1.00 each
65
65
Page 12

 
THATCOPYSHOP LIMITED
 

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

12.SHARE CAPITAL (CONTINUED)




13.


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 £1,303 (2023 - £1,303). Contributions totalling £155 (2023 - £168) were payable to the fund at the reporting date and are included in creditors.


14.


COMMITMENTS UNDER OPERATING LEASES

The company had no commitments under non-cancellable operating leases at the reporting date.


Page 13