Caseware UK (AP4) 2023.0.135 2023.0.135 sale and management of property2023-04-01false2219truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03723843 2023-04-01 2024-03-31 03723843 2022-04-01 2023-03-31 03723843 2024-03-31 03723843 2023-03-31 03723843 2022-04-01 03723843 c:Director3 2023-04-01 2024-03-31 03723843 d:FurnitureFittings 2023-04-01 2024-03-31 03723843 d:FurnitureFittings 2024-03-31 03723843 d:FurnitureFittings 2023-03-31 03723843 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03723843 d:Goodwill 2023-04-01 2024-03-31 03723843 d:Goodwill 2024-03-31 03723843 d:Goodwill 2023-03-31 03723843 d:CurrentFinancialInstruments 2024-03-31 03723843 d:CurrentFinancialInstruments 2023-03-31 03723843 d:Non-currentFinancialInstruments 2024-03-31 03723843 d:Non-currentFinancialInstruments 2023-03-31 03723843 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03723843 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03723843 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03723843 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03723843 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 03723843 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 03723843 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 03723843 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 03723843 d:ShareCapital 2024-03-31 03723843 d:ShareCapital 2023-03-31 03723843 d:CapitalRedemptionReserve 2024-03-31 03723843 d:CapitalRedemptionReserve 2023-03-31 03723843 d:RetainedEarningsAccumulatedLosses 2024-03-31 03723843 d:RetainedEarningsAccumulatedLosses 2023-03-31 03723843 c:FRS102 2023-04-01 2024-03-31 03723843 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03723843 c:FullAccounts 2023-04-01 2024-03-31 03723843 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03723843 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 03723843 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 03723843 d:Goodwill d:OwnedIntangibleAssets 2023-04-01 2024-03-31 03723843 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
Registered number: 03723843





 
Clarke Hillyer Limited          
 
Financial statements          

For the year ended 31 March 2024          

 
Clarke Hillyer Limited
Registered number:03723843

Balance Sheet
As at 31 March 2024


2024

2023
                                                                                 Note
£
£
£
£

Fixed assets
  

Intangible assets
 4 
36,302
43,562

Tangible assets
 5 
30,053
23,967

  
66,355
67,529

Current assets
  

Debtors
 6 
543,707
483,217

Cash at bank and in hand
 7 
122,046
133,148

  
665,753
616,365

Creditors: amounts falling due within one year
 8 
(145,321)
(126,011)

Net current assets
  
 
 
520,432
 
 
490,354

Total assets less current liabilities
  
586,787
557,883

Creditors: amounts falling due after more than one year
 9 
(24,130)
(39,410)

Provisions for liabilities
  

Deferred tax
 12 
(6,218)
(4,614)

Net assets
  
556,439
513,859


Capital and reserves
  

Called up share capital 
  
120
120

Capital redemption reserve
  
50,000
50,000

Profit and loss account
  
506,319
463,739

  
556,439
513,859


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 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.


 
Page 1

 
Clarke Hillyer Limited
Registered number:03723843
    
Balance Sheet (continued)
As at 31 March 2024

The financial statements were approved and authorised for issue by the board; and were signed on its behalf on 27 June 2024.



N Wilson
Director
























The notes on pages 3 to 12 form part of these financial statements.
Page 2

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

1.


General information

Clarke Hillyer Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is Construction House, Runwell Road, Wickford, Essex, England, SS11 7HQ.

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

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

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.
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.

 
2.4

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 3

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)


2.4
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 at the following rate:

Fixtures and fittings
-
15%
reducing balance

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.

 
2.5

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.

 
2.6

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.

 
2.7

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 Balance Sheet when the company becomes party to the contractual provisions of the instrument.

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 
 

Page 4

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument 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.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

 
2.8

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

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.9

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.

 
2.10

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. 

 
2.11

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.

 
2.12

Borrowing costs

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

 
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.

Page 6

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

2.Accounting policies (continued)

 
2.14

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 22 (2023 - 19).

Page 7

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

4.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
987,427



At 31 March 2024

987,427



Amortisation


At 1 April 2023
943,865


Charge for the year
7,260



At 31 March 2024

951,125



Net book value



At 31 March 2024
36,302



At 31 March 2023
43,562



Page 8

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

5.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 April 2023
60,932


Additions
11,389



At 31 March 2024

72,321



Depreciation


At 1 April 2023
36,965


Charge for the year
5,303



At 31 March 2024

42,268



Net book value



At 31 March 2024
30,053



At 31 March 2023
23,967

Page 9

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

6.


Debtors

2024
2023
£
£



Trade debtors
117,380
104,826

Amounts owed by group undertakings
340,939
295,209

Other debtors
2,433
2,433

Prepayments and accrued income
82,955
80,749

543,707
483,217



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
122,046
133,148



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
15,284
14,672

Trade creditors
21,501
5,735

Corporation tax
13,684
18,514

Other taxation and social security
85,837
76,609

Other creditors
1,571
327

Accruals and deferred income
7,444
10,154

145,321
126,011



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
24,130
39,410


Page 10

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
15,284
14,672

Amounts falling due 1-2 years

Bank loans
15,921
31,205

Amounts falling due 2-5 years

Bank loans
8,208
8,208


39,413
54,085


The bank loan was issued in September 2020 and is repayable in 60 monthly instalments starting October 2021 with interest payable at 4.09%. This loan is unsecured.


11.


Related party transactions

During the year the company was charged management charges by Junction Holdings Limited, the parent company, of £12,189 (2023 - £12,480). At the balance sheet date the company was owed £340,939 (2023 - £295,209) by Junction Holdings Limited. No interest was charged on this loan. 

Page 11

 
Clarke Hillyer Limited
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2024

12.


Deferred taxation




2024
2023


£

£






At beginning of year
4,614
4,104


Charge for the year
1,604
510



At end of year
6,218
4,614

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
6,218
4,614


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 administered fund. The pension charge represents contributions payable by the company to the fund and amounted to £57,572 (2023 - £31,208).

 
Page 12