Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-30truefalse2023-12-0170229 - Management consultancy activities other than financial management7667trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11088176 2023-12-01 2024-11-30 11088176 2024-11-30 11088176 2022-12-01 2023-11-30 11088176 2023-11-30 11088176 c:Director2 2023-12-01 2024-11-30 11088176 d:Buildings d:LongLeaseholdAssets 2023-12-01 2024-11-30 11088176 d:Buildings d:LongLeaseholdAssets 2024-11-30 11088176 d:Buildings d:LongLeaseholdAssets 2023-11-30 11088176 d:OfficeEquipment 2023-12-01 2024-11-30 11088176 d:OfficeEquipment 2024-11-30 11088176 d:OfficeEquipment 2023-11-30 11088176 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 11088176 d:ComputerEquipment 2023-12-01 2024-11-30 11088176 d:ComputerEquipment 2024-11-30 11088176 d:ComputerEquipment 2023-11-30 11088176 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 11088176 d:OwnedOrFreeholdAssets 2023-12-01 2024-11-30 11088176 d:CurrentFinancialInstruments 2024-11-30 11088176 d:CurrentFinancialInstruments 2023-11-30 11088176 d:Non-currentFinancialInstruments 2024-11-30 11088176 d:Non-currentFinancialInstruments 2023-11-30 11088176 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 11088176 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 11088176 d:Non-currentFinancialInstruments d:AfterOneYear 2024-11-30 11088176 d:Non-currentFinancialInstruments d:AfterOneYear 2023-11-30 11088176 d:ShareCapital 2024-11-30 11088176 d:ShareCapital 2023-11-30 11088176 d:SharePremium 2024-11-30 11088176 d:SharePremium 2023-11-30 11088176 d:CapitalRedemptionReserve 2024-11-30 11088176 d:CapitalRedemptionReserve 2023-11-30 11088176 d:RetainedEarningsAccumulatedLosses 2024-11-30 11088176 d:RetainedEarningsAccumulatedLosses 2023-11-30 11088176 c:FRS102 2023-12-01 2024-11-30 11088176 c:AuditExempt-NoAccountantsReport 2023-12-01 2024-11-30 11088176 c:FullAccounts 2023-12-01 2024-11-30 11088176 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 11088176 e:PoundSterling 2023-12-01 2024-11-30 iso4217:GBP xbrli:pure
Registered number: 11088176


PRINCIPLE ONE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED NOVEMBER 30, 2024

 
PRINCIPLE ONE
REGISTERED NUMBER: 11088176

BALANCE SHEET
AS AT NOVEMBER 30, 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
557,951
717,940

  
557,951
717,940

Current assets
  

Debtors: amounts falling due within one year
 5 
1,776,563
1,973,160

Cash at bank and in hand
 6 
1,609,239
804,564

  
3,385,802
2,777,724

Creditors: amounts falling due within one year
 7 
(1,549,098)
(1,683,018)

Net current assets
  
 
 
1,836,704
 
 
1,094,706

Total assets less current liabilities
  
2,394,655
1,812,646

Creditors: amounts falling due after more than one year
 8 
(263,094)
-

  

Net assets
  
2,131,561
1,812,646


Capital and reserves
  

Called up share capital 
  
399
399

Share premium account
  
11,670
8,671

Capital redemption reserve
  
(12,062)
-

Profit and loss account
  
2,131,554
1,803,576

  
2,131,561
1,812,646


Page 1

 
PRINCIPLE ONE
REGISTERED NUMBER: 11088176
    
BALANCE SHEET (CONTINUED)
AS AT NOVEMBER 30, 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: 




................................................
B J Sadler
Director

Date: January 5, 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
PRINCIPLE ONE
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2024

1.


General information

Principle One limited is a private company limited by shares, incorporated in the United Kingdom, whose registered office is 1 Vincent Square, London, England, SW1P 2PN. The company's registered number is 11088176

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

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.

 
2.4

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.

Page 3

 
PRINCIPLE ONE
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2024

2.Accounting policies (continued)

 
2.5

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.


 
2.6

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:

Long-term leasehold property
-
20%
Straight line
Office equipment
-
25%
Straight line
Computer equipment
-
50%
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.

 
2.7

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.

 
2.8

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.

 
2.9

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 4

 
PRINCIPLE ONE
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 76 (2023 - 67).


4.


Tangible fixed assets





Long-term leasehold property
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2023
532,787
154,279
142,229
829,295


Additions
27,457
3,275
13,241
43,973



At November 30, 2024

560,244
157,554
155,470
873,268



Depreciation


At 1 December 2023
-
5,213
106,143
111,356


Charge for the year on owned assets
149,873
38,961
15,127
203,961



At November 30, 2024

149,873
44,174
121,270
315,317



Net book value



At November 30, 2024
410,371
113,380
34,200
557,951


5.


Debtors

2024
2023
£
£


Trade debtors
1,333,492
1,597,955

Other debtors
187,923
229,276

Prepayments and accrued income
255,148
145,929

1,776,563
1,973,160


Page 5

 
PRINCIPLE ONE
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED NOVEMBER 30, 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,609,239
804,564

1,609,239
804,564



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,013
49,238

Other taxation and social security
380,791
278,704

Other creditors
429,611
422,118

Accruals and deferred income
728,683
932,958

1,549,098
1,683,018



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
263,094
-

263,094
-


The afore noted balance relates to a rent free period accrual, calculated in line with the lease agreement entered into by the Company for their business premises.


9.


Pension commitments

The Company contributed into a defined contributions pensions scheme. The assets of the scheme are held seperately from those of the Company in an independently administered fund and amounted to £417,241 (2023: £180,266). Contributions totalling £46,654 (2023: £Nil) were payable to the fund at the balance sheet date and are included within creditors.

 
Page 6