Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-292023-03-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09777308 2023-03-01 2024-02-29 09777308 2022-03-01 2023-02-28 09777308 2024-02-29 09777308 2023-02-28 09777308 c:Director1 2023-03-01 2024-02-29 09777308 c:Director2 2023-03-01 2024-02-29 09777308 d:MotorVehicles 2023-03-01 2024-02-29 09777308 d:MotorVehicles 2024-02-29 09777308 d:MotorVehicles 2023-02-28 09777308 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09777308 d:FurnitureFittings 2023-03-01 2024-02-29 09777308 d:FurnitureFittings 2024-02-29 09777308 d:FurnitureFittings 2023-02-28 09777308 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09777308 d:ComputerEquipment 2023-03-01 2024-02-29 09777308 d:ComputerEquipment 2024-02-29 09777308 d:ComputerEquipment 2023-02-28 09777308 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09777308 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-29 09777308 d:CurrentFinancialInstruments 2024-02-29 09777308 d:CurrentFinancialInstruments 2023-02-28 09777308 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 09777308 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09777308 d:ShareCapital 2024-02-29 09777308 d:ShareCapital 2023-02-28 09777308 d:RetainedEarningsAccumulatedLosses 2024-02-29 09777308 d:RetainedEarningsAccumulatedLosses 2023-02-28 09777308 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-02-29 09777308 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-02-28 09777308 c:OrdinaryShareClass1 2023-03-01 2024-02-29 09777308 c:OrdinaryShareClass1 2024-02-29 09777308 c:OrdinaryShareClass1 2023-02-28 09777308 c:OrdinaryShareClass2 2023-03-01 2024-02-29 09777308 c:OrdinaryShareClass2 2024-02-29 09777308 c:OrdinaryShareClass2 2023-02-28 09777308 c:OrdinaryShareClass3 2023-03-01 2024-02-29 09777308 c:OrdinaryShareClass3 2024-02-29 09777308 c:OrdinaryShareClass3 2023-02-28 09777308 c:OrdinaryShareClass4 2023-03-01 2024-02-29 09777308 c:OrdinaryShareClass4 2024-02-29 09777308 c:OrdinaryShareClass4 2023-02-28 09777308 c:OrdinaryShareClass5 2023-03-01 2024-02-29 09777308 c:OrdinaryShareClass5 2024-02-29 09777308 c:OrdinaryShareClass5 2023-02-28 09777308 c:FRS102 2023-03-01 2024-02-29 09777308 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 09777308 c:FullAccounts 2023-03-01 2024-02-29 09777308 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 09777308 2 2023-03-01 2024-02-29 09777308 d:AcceleratedTaxDepreciationDeferredTax 2024-02-29 09777308 d:AcceleratedTaxDepreciationDeferredTax 2023-02-28 09777308 d:TaxLossesCarry-forwardsDeferredTax 2024-02-29 09777308 d:TaxLossesCarry-forwardsDeferredTax 2023-02-28 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 09777308










DEBRA PRICE ASSOCIATES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024



 
DEBRA PRICE ASSOCIATES LIMITED
REGISTERED NUMBER: 09777308

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
28,578
37,414

Current assets
  

Debtors: amounts falling due within one year
 5 
5,429
-

Cash at bank and in hand
 6 
63,336
86,550

  
68,765
86,550

Creditors: amounts falling due within one year
 7 
(51,885)
(40,075)

Net current assets
  
 
 
16,880
 
 
46,475

Total assets less current liabilities
  
45,458
83,889

Provisions for liabilities
  

Deferred tax
 9 
-
(722)

  
 
 
-
 
 
(722)

Net assets
  
45,458
83,167


Capital and reserves
  

Called up share capital 
 10 
300
300

Profit and loss account
  
45,158
82,867

  
45,458
83,167


Page 1

 
DEBRA PRICE ASSOCIATES LIMITED
REGISTERED NUMBER: 09777308

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 by: 




C J Price
D Price
Director
Director


Date: 25 November 2024

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

Page 2

 
DEBRA PRICE ASSOCIATES LIMITED
 

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

1.ACCOUNTING POLICIES

 
1.1

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:

 
1.2

TURNOVER

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:

Rendering of services

Turnover 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 turnover 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.

 
1.3

INTEREST INCOME

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

 
1.4

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.

Page 3

 
DEBRA PRICE ASSOCIATES LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)

 
1.5

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, as follows.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance
Fixtures and fittings
-
25%
reducing balance
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 profit or loss.

 
1.6

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.

 
1.7

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.

 
1.8

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.

 
1.9

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
1.10

FINANCIAL INSTRUMENTS

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS
Page 4

 
DEBRA PRICE ASSOCIATES LIMITED
 

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

1.ACCOUNTING POLICIES (CONTINUED)


1.10
FINANCIAL INSTRUMENTS (continued)

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.

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.

 
1.11

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.


GENERAL INFORMATION

Debra Price Associates Limited is a limited company incorporated in England and Wales. The Company’s  registered office address is The Stables, Little Coldharbour Farm, Tong Lane, Lamberhurst, Tunbridge Wells, Kent, TN3 8AD.

Page 5

 
DEBRA PRICE ASSOCIATES LIMITED
 

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

3.


EMPLOYEES

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


4.


TANGIBLE FIXED ASSETS







Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 March 2023
49,990
993
3,061
54,044


Additions
-
-
799
799



At 29 February 2024

49,990
993
3,860
54,843



Depreciation


At 1 March 2023
13,279
781
2,570
16,630


Charge for the year on owned assets
9,178
54
403
9,635



At 29 February 2024

22,457
835
2,973
26,265



Net book value



At 29 February 2024
27,533
158
887
28,578



At 28 February 2023
36,711
212
491
37,414


5.


DEBTORS

29 February
28 February
2024
2023
£
£


Other debtors
5,429
-



6.


CASH AND CASH EQUIVALENTS

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
63,336
86,551


Page 6

 
DEBRA PRICE ASSOCIATES LIMITED
 

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

7.


CREDITORS: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Taxation and social security
905
992

Directors' loan account
49,680
36,931

Other creditors
1,300
2,152

51,885
40,075



8.


FINANCIAL INSTRUMENTS

29 February
28 February
2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
63,336
86,551




Financial assets measured at fair value through profit or loss comprise cash held.


9.


DEFERRED TAXATION






2024


£






At beginning of year
(722)


Charged to profit or loss
5,737



At end of year
5,015

The deferred taxation balance is made up as follows:

29 February
28 February
2024
2023
£
£


Accelerated capital allowances
(193)
(722)

Tax losses carried forward
5,208
-

5,015
(722)

Page 7

 
DEBRA PRICE ASSOCIATES LIMITED
 

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

10.


SHARE CAPITAL

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



150 (2023 - 150) Ordinary shares of £1.00 each
150
150
50 (2023 - 50) A Ordinary shares of £1.00 each
50
50
50 (2023 - 50) B Ordinary shares of £1.00 each
50
50
25 (2023 - 25) C Ordinary shares of £1.00 each
25
25
25 (2023 - 25) D Ordinary shares of £1.00 each
25
25

300

300



Page 8