Caseware UK (AP4) 2023.0.135 2023.0.135 2023-08-312023-08-31true2022-09-01falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity11truefalse 11529197 2022-09-01 2023-08-31 11529197 2021-09-01 2022-08-31 11529197 2023-08-31 11529197 2022-08-31 11529197 c:Director1 2022-09-01 2023-08-31 11529197 d:FurnitureFittings 2022-09-01 2023-08-31 11529197 d:OfficeEquipment 2022-09-01 2023-08-31 11529197 d:OfficeEquipment 2023-08-31 11529197 d:OfficeEquipment 2022-08-31 11529197 d:CurrentFinancialInstruments 2023-08-31 11529197 d:CurrentFinancialInstruments 2022-08-31 11529197 d:Non-currentFinancialInstruments 2023-08-31 11529197 d:Non-currentFinancialInstruments 2022-08-31 11529197 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 11529197 d:CurrentFinancialInstruments d:WithinOneYear 2022-08-31 11529197 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 11529197 d:Non-currentFinancialInstruments d:AfterOneYear 2022-08-31 11529197 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-08-31 11529197 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-08-31 11529197 d:ShareCapital 2023-08-31 11529197 d:ShareCapital 2022-08-31 11529197 d:RetainedEarningsAccumulatedLosses 2023-08-31 11529197 d:RetainedEarningsAccumulatedLosses 2022-08-31 11529197 c:FRS102 2022-09-01 2023-08-31 11529197 c:AuditExempt-NoAccountantsReport 2022-09-01 2023-08-31 11529197 c:FullAccounts 2022-09-01 2023-08-31 11529197 c:PrivateLimitedCompanyLtd 2022-09-01 2023-08-31 11529197 2 2022-09-01 2023-08-31 11529197 e:PoundSterling 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure

Registered number: 11529197









CT1 FINANCE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2023

 
CT1 FINANCE LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7


 
CT1 FINANCE LIMITED
REGISTERED NUMBER: 11529197

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1
1

  
1
1

Current assets
  

Debtors: amounts falling due within one year
 5 
1,994,304
1,286,124

Cash at bank and in hand
 6 
8
1,178

  
1,994,312
1,287,302

Creditors: amounts falling due within one year
 7 
(1,459,593)
(1,027,046)

Net current assets
  
 
 
534,719
 
 
260,256

Total assets less current liabilities
  
534,720
260,257

Creditors: amounts falling due after more than one year
 8 
(11,401)
(17,413)

  

Net assets
  
523,319
242,844


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
523,318
242,843

  
523,319
242,844


Page 1

 
CT1 FINANCE LIMITED
REGISTERED NUMBER: 11529197
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2023

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 by: 




................................................
C Taylor
Director

Date: 28 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
CT1 FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1.


General information

CT1 Finance Limited is a private company, limited by shares, domiciled in England and Wales, registration number 11529197. The registered office is Aston House, Cornwall Avenue, London, England, N3 1LF.

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:

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

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

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

Page 3

 
CT1 FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)

 
2.6

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.

 
2.7

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, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Straight Line
Office equipment
-

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.

 
2.8

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.

 
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

Page 4

 
CT1 FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

2.Accounting policies (continued)


2.11
Financial instruments (continued)

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 September 2022
1,986



At 31 August 2023

1,986



Depreciation


At 1 September 2022
1,985



At 31 August 2023

1,985



Net book value



At 31 August 2023
1



At 31 August 2022
1

Page 5

 
CT1 FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

5.


Debtors

2023
2022
£
£


Other debtors
1,994,304
1,286,124

1,994,304
1,286,124



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
8
1,178

8
1,178



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
6,300
6,300

Corporation tax
687,021
402,386

Other creditors
762,372
614,460

Accruals and deferred income
3,900
3,900

1,459,593
1,027,046



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
11,401
17,413

11,401
17,413


Page 6

 
CT1 FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
6,300
6,300


6,300
6,300


Amounts falling due 2-5 years

Bank loans
11,401
17,413


11,401
17,413


17,701
23,713



10.


Transactions with directors

Included in other debtors is an amount of £1,495,831 (2022:  £966,351) owed from the director. 
Interest has been applied at the official rate of 2% and 2.25% during the year in regards to this. 

 
Page 7