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Registered number: 12490660














NORTHPEAK ADVISORY LTD

 
UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
NORTHPEAK ADVISORY LTD
REGISTERED NUMBER:12490660

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,014
4,554

  
1,014
4,554

Current assets
  

Debtors: amounts falling due within one year
 5 
85,043
87,450

Cash at bank and in hand
 6 
439,499
5,237

  
524,542
92,687

Creditors: amounts falling due within one year
 7 
(672,694)
(75,791)

Net current (liabilities)/assets
  
 
 
(148,152)
 
 
16,896

Total assets less current liabilities
  
(147,138)
21,450

Creditors: amounts falling due after more than one year
 8 
-
(69,914)

  

Net liabilities
  
(147,138)
(48,464)


Capital and reserves
  

Called up share capital 
 11 
100
100

Share premium account
  
509,950
509,950

Profit and loss account
  
(657,188)
(558,514)

  
(147,138)
(48,464)


1

 
NORTHPEAK ADVISORY LTD
REGISTERED NUMBER:12490660
    
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 profit and loss account 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 26 November 2024.




P E Dismorr
Director

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

2

 
NORTHPEAK ADVISORY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Northpeak Advisory Ltd is a private company, limited by shares, registered in England and Wales, registration number 12490660. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE.
 
The principal activity of the company continued to be environmental, social and governance advisory services to asset managers.

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

Going concern

The financial statements have been prepared on the going concern basis as the directors have confirmed they will continue to provide necessary funding in order for the company to maintain operations and meet liabilities in full for at least the next 12 months. On this basis, the directors are satisfied that the financial statements should be prepared on a going concern basis.

 
2.3

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

3

 
NORTHPEAK ADVISORY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Turnover

Turnover from environmental, social and governance advisory services 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. Turnover from environmental, social and governance advisory services 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

Turnover from environmental, social and governance advisory services 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.

 
2.5

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

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.

4

 
NORTHPEAK ADVISORY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.7

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 corporation 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.

 
2.8

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:

Computer equipment
-
3 years 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 profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.10

 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.

5

 
NORTHPEAK ADVISORY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.11

 Creditors

Short-term creditors are measured at the transaction price.

 
2.12

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).


4.


Tangible fixed assets







Computer equipment

£



Cost or valuation


At 1 March 2023
34,607


Additions
320



At 29 February 2024

34,927



Depreciation


At 1 March 2023
30,053


Charge for the year
3,860



At 29 February 2024

33,913



Net book value



At 29 February 2024
1,014



At 28 February 2023
4,554

6

 
NORTHPEAK ADVISORY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
72,660
77,500

Other debtors
485
-

Prepayments and accrued income
11,898
9,950

85,043
87,450



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
439,499
5,237



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
13,370
15,971

Other taxation and social security
72,703
53,654

Other creditors
581,231
666

Accruals and deferred income
5,390
5,500

672,694
75,791



8.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Other loans
-
69,914


7

 
NORTHPEAK ADVISORY LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Loans


29 February
28 February
2024
2023
£
£


Amounts falling due 1-2 years

Other loans
-
69,914





10.


Deferred taxation

The deferred tax  is made up as the following:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(254)
(1,139)

Tax losses carried forward
-
513

Short term timing defferences
254
626

-
-


11.


Share capital

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



50,000 (2023 - 50,000) Ordinary shares of £0.001 each
50
50
50,001 (2023 - 50,001) Ordinary A shares of £0.001 each
50
50

100

100



12.


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 £41,130 (2023- £32,277). Contributions totalling £4,167 (2023 - £2,504) were payable to the fund at the balance sheet date and are included in creditors.


13.


Related party transactions

Included within other creditors at the year is £77,064 (2022 - £666) due to the directors. The loans are interest free, unsecured and repayable on demand.

 
8