Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312024-05-152023-04-01falseNo description of principal activity22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08458307 2023-04-01 2024-03-31 08458307 2022-04-01 2023-03-31 08458307 2024-03-31 08458307 2023-03-31 08458307 c:Director1 2023-04-01 2024-03-31 08458307 d:ComputerEquipment 2023-04-01 2024-03-31 08458307 d:ComputerEquipment 2024-03-31 08458307 d:ComputerEquipment 2023-03-31 08458307 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 08458307 d:CurrentFinancialInstruments 2024-03-31 08458307 d:CurrentFinancialInstruments 2023-03-31 08458307 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 08458307 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 08458307 d:ShareCapital 2024-03-31 08458307 d:ShareCapital 2023-03-31 08458307 d:RetainedEarningsAccumulatedLosses 2024-03-31 08458307 d:RetainedEarningsAccumulatedLosses 2023-03-31 08458307 c:OrdinaryShareClass1 2023-04-01 2024-03-31 08458307 c:OrdinaryShareClass1 2024-03-31 08458307 c:OrdinaryShareClass1 2023-03-31 08458307 c:FRS102 2023-04-01 2024-03-31 08458307 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 08458307 c:FullAccounts 2023-04-01 2024-03-31 08458307 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08458307 2 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure


Registered number: 08458307












MONTENERO CONSULTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


MONTENERO CONSULTING LIMITED

CONTENTS



Page
Balance sheet
 
 
1 - 2
Notes to the financial statements
 
 
3 - 8

        REGISTERED NUMBER:08458307
MONTENERO CONSULTING LIMITED

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
278
708

  
278
708

Current assets
  

Debtors: amounts falling due within one year
 5 
15,950
26,424

Cash at bank and in hand
  
1,686
4,631

  
17,636
31,055

Creditors: amounts falling due within one year
 6 
(3,953)
(15,134)

Net current assets
  
 
 
13,683
 
 
15,921

Total assets less current liabilities
  
13,961
16,629

  

Net assets
  
13,961
16,629


Capital and reserves
  

Called up share capital 
 7 
10
10

Profit and loss account
  
13,951
16,619

Total equity
  
13,961
16,629

Page 1

        REGISTERED NUMBER:08458307
MONTENERO CONSULTING LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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: 




J L Morgan
Director

Date: 15 May 2024

The notes on pages 3 to 8 form part of these financial statements.
Page 2


MONTENERO CONSULTING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Montenero Consulting Limited is a private company limited by shares incorporated in England and Wales. Its registered office is 119 Florence Road, London, N4 4DL.
The financial statements are presented in Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed a period of 12 months from the date of approving the financial statements with regard to the appropriateness of the going concern assumption in preparing the financial statements. The company has continued to trade and the directors have formed the view that it is appropriate to prepare the accounts on a going concern basis.

 
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 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

Interest income

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

Page 3


MONTENERO CONSULTING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 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 the statement of income and retained earnings 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

Taxation

Tax is recognised in the statement of income and retained earnings, 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.

 
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.

Depreciation is provided on the following basis:

Computer equipment
-
33%
straight line

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 the statement of income and retained earnings.

 
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.

Page 4


MONTENERO CONSULTING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
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 has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 5


MONTENERO CONSULTING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)





Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
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.

  
2.13

Share capital

Ordinary shares are classified as equity.

Page 6


MONTENERO CONSULTING LIMITED
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 April 2023
3,090



At 31 March 2024

3,090



Depreciation


At 1 April 2023
2,382


Charge for the year on owned assets
430



At 31 March 2024

2,812



Net book value



At 31 March 2024
278



At 31 March 2023
708


5.


Debtors

2024
2023
£
£


Trade debtors
2,924
26,424

Other debtors
13,026
-

15,950
26,424


Page 7


MONTENERO CONSULTING 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
-
1,000

Corporation tax
296
4,564

Other taxation and social security
2,657
8,546

Other creditors
-
24

Accruals and deferred income
1,000
1,000

3,953
15,134



7.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



10 (2023 - 10) Ordinary shares of £1.00 each
10
10


8.


Directors' transactions

Included within other debtors is an amount of £9,801 (2023: £24 creditor) due from the directors. The loans are provided interest free and are unsecured. The full amount of the loans was repaid within 9 months of the year end.
 
Page 8