Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-29No description of principal activityfalse42023-03-01false4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05549029 2023-03-01 2024-02-29 05549029 2022-03-01 2023-02-28 05549029 2024-02-29 05549029 2023-02-28 05549029 c:Director1 2023-03-01 2024-02-29 05549029 c:Director2 2023-03-01 2024-02-29 05549029 d:OfficeEquipment 2023-03-01 2024-02-29 05549029 d:OfficeEquipment 2024-02-29 05549029 d:OfficeEquipment 2023-02-28 05549029 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05549029 d:ComputerEquipment 2023-03-01 2024-02-29 05549029 d:ComputerEquipment 2024-02-29 05549029 d:ComputerEquipment 2023-02-28 05549029 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05549029 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 05549029 d:CurrentFinancialInstruments 2024-02-29 05549029 d:CurrentFinancialInstruments 2023-02-28 05549029 d:Non-currentFinancialInstruments 2024-02-29 05549029 d:Non-currentFinancialInstruments 2023-02-28 05549029 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 05549029 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 05549029 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 05549029 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 05549029 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 05549029 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 05549029 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 05549029 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 05549029 d:ShareCapital 2024-02-29 05549029 d:ShareCapital 2023-02-28 05549029 d:RetainedEarningsAccumulatedLosses 2024-02-29 05549029 d:RetainedEarningsAccumulatedLosses 2023-02-28 05549029 c:OrdinaryShareClass1 2023-03-01 2024-02-29 05549029 c:OrdinaryShareClass1 2024-02-29 05549029 c:OrdinaryShareClass1 2023-02-28 05549029 c:OrdinaryShareClass2 2023-03-01 2024-02-29 05549029 c:OrdinaryShareClass2 2024-02-29 05549029 c:OrdinaryShareClass2 2023-02-28 05549029 c:FRS102 2023-03-01 2024-02-29 05549029 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 05549029 c:FullAccounts 2023-03-01 2024-02-29 05549029 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 05549029 2 2023-03-01 2024-02-29 05549029 e:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 05549029














PEARL PRINT MANAGEMENT LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 29 FEBRUARY 2024

 
PEARL PRINT MANAGEMENT LIMITED
REGISTERED NUMBER:05549029

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
As restated
28 February
2024
2023
Note

FIXED ASSETS
  

Tangible assets
 4 
4,308
6,585

 
CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
300,790
373,356

Cash at bank and in hand
  
100,650
99,031

  
401,440
472,387

CURRENT LIABILITIES
  

Creditors: amounts falling due within one year
 6 
(373,789)
(378,257)

NET CURRENT ASSETS
  
 
 
27,651
 
 
94,130

TOTAL ASSETS LESS CURRENT LIABILITIES
  
31,959
100,715

Creditors: amounts falling due after more than one year
 7 
(12,501)
(22,501)

NET ASSETS
  
£19,458
£78,214


CAPITAL AND RESERVES
  

Called up share capital 
 9 
100
100

Profit and loss account
  
19,358
78,114

  
£19,458
£78,214


Page 1

 
PEARL PRINT MANAGEMENT LIMITED
REGISTERED NUMBER:05549029

BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 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 8 July 2024.


................................................
C N Vosper
................................................
P C G Cooper
Director
Director

The notes on pages 3 to 9 form part of these financial statements.
Page 2

 
PEARL PRINT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Pearl Print Management Limited is a private company, limited by shares, incorporated in England and Wales.
The company number is 05549029.
The registered office is Henwood House, Henwood, Ashford, Kent, TN24 8DH.

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 financial statements are presented in UK Sterling pounds (£) and rounded to the nearest pound.

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

 
PEARL PRINT MANAGEMENT LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

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.

 
2.6

Borrowing costs

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

 
2.7

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.

 
2.8

Taxation

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.

 
2.9

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
20%
Computer equipment
-
33%

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

 
PEARL PRINT MANAGEMENT LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
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.

 
2.13

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.

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.

 
2.14

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 4 (2023 - 4).

Page 5

 
PEARL PRINT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Office equipment
Computer equipment
Total



Cost or valuation


At 1 March 2023
10,181
29,757
39,938


Additions
635
-
635



At 29 February 2024

10,816
29,757
40,573



Depreciation


At 1 March 2023
7,236
26,117
33,353


Charge for the year on owned assets
916
1,996
2,912



At 29 February 2024

8,152
28,113
36,265



Net book value



At 29 February 2024
£2,664
£1,644
£4,308



At 28 February 2023
£2,945
£3,640
£6,585

Page 6

 
PEARL PRINT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023


Trade debtors
250,003
346,695

Other debtors
50,224
23,068

Prepayments and accrued income
563
3,593

£300,790
£373,356



6.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023

Bank loans
10,001
10,001

Trade creditors
249,431
299,850

Corporation tax
19,264
30,877

Other taxation and social security
9,302
8,314

Other creditors
279
3,446

Accruals and deferred income
85,512
25,769

£373,789
£378,257



7.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023

Bank loans
£12,501
£22,501


Page 7

 
PEARL PRINT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023

Amounts falling due within one year

Bank loans
10,001
10,001

Amounts falling due 1-2 years

Bank loans
10,000
10,000

Amounts falling due 2-5 years

Bank loans
2,501
12,501


£22,502
£32,502



9.


Share capital

29 February
28 February
2024
2023
Allotted, called up and fully paid



50 (2023 - 50) Ordinary shares of £1.00 each
50
50
50 (2023 - 50) A Ordinary shares of £1.00 each
50
50

£100

£100



10.


Prior year adjustment

An adjustment of the prior year financial statements has been recognised to reflect errors identified in respect of the directors loan accounts. The adjustment is set out below: 
 
Profit after tax as previously reported
142,988
Error in respect of pension contributions (Admin expenses)
(14,234)
Error in respect of expense claims (Admin expenses)
(5,586)
Corporation tax effect of errors
2,878 


Restated profit after tax
£126,046




Retained earnings previously reported
95,056
Restatement of comparatives
(16,942)


Restated retained earnings
£78,114


Page 8

 
PEARL PRINT MANAGEMENT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

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 £9,481 (2023 - £53,258). Contributions totalling £278 (2023 - £278) were payable to the fund at the balance sheet date.


12.


Related party transactions

During the year the company paid rent totalling £37,051 (2023 - £37,705) to a pension fund for the benefit of the directors. The amount due to the pension fund at the balance sheet date was £21,634 (2023 - £Nil).

Page 9