Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3158falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity2023-04-0150falsetruefalse 04363163 2023-04-01 2024-03-31 04363163 1 2023-04-01 2024-03-31 04363163 2022-04-01 2023-03-31 04363163 2024-03-31 04363163 2023-03-31 04363163 2022-04-01 04363163 d:Director1 2023-04-01 2024-03-31 04363163 d:Director2 2023-04-01 2024-03-31 04363163 c:FurnitureFittings 2023-04-01 2024-03-31 04363163 c:FurnitureFittings 2024-03-31 04363163 c:FurnitureFittings 2023-03-31 04363163 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04363163 c:OfficeEquipment 2023-04-01 2024-03-31 04363163 c:OfficeEquipment 2024-03-31 04363163 c:OfficeEquipment 2023-03-31 04363163 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04363163 c:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 04363163 c:CurrentFinancialInstruments 2024-03-31 04363163 c:CurrentFinancialInstruments 2023-03-31 04363163 c:CurrentFinancialInstruments c:WithinOneYear 2024-03-31 04363163 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 04363163 c:Non-currentFinancialInstruments c:AfterOneYear 2024-03-31 04363163 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 04363163 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-03-31 04363163 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 04363163 c:ShareCapital 2024-03-31 04363163 c:ShareCapital 2023-03-31 04363163 c:ShareCapital 2022-04-01 04363163 c:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 04363163 c:RetainedEarningsAccumulatedLosses 2024-03-31 04363163 c:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 04363163 c:RetainedEarningsAccumulatedLosses 2023-03-31 04363163 c:RetainedEarningsAccumulatedLosses 2022-04-01 04363163 d:OrdinaryShareClass1 2023-04-01 2024-03-31 04363163 d:OrdinaryShareClass1 2024-03-31 04363163 d:FRS102 2023-04-01 2024-03-31 04363163 d:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 04363163 d:FullAccounts 2023-04-01 2024-03-31 04363163 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 04363163 2 2023-04-01 2024-03-31 04363163 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 04363163










CAPACITAS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CAPACITAS LIMITED
REGISTERED NUMBER: 04363163

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
9,608
18,983

Current assets
  

Debtors: amounts falling due within one year
 5 
864,419
1,190,833

Cash at bank and in hand
  
4,371,296
3,614,204

  
5,235,715
4,805,037

Creditors: amounts falling due within one year
 6 
(2,475,153)
(1,316,514)

Net current assets
  
 
 
2,760,562
 
 
3,488,523

Total assets less current liabilities
  
2,770,170
3,507,506

Creditors: amounts falling due after more than one year
  
-
(108,333)

  

Net assets
  
2,770,170
3,399,173


Capital and reserves
  

Called up share capital 
 8 
1,200
1,200

Profit and loss account
  
2,768,970
3,397,973

  
2,770,170
3,399,173


Page 1

 
CAPACITAS LIMITED
REGISTERED NUMBER: 04363163
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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 comprehensive income 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: 




M Mohammed
D G Quilton
Director
Director


Date: 17 January 2025
Date:17 January 2025

Page 2

 
CAPACITAS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 April 2022
1,200
1,883,162
1,884,362


Comprehensive income for the year

Profit for the year
-
2,024,811
2,024,811


Contributions by and distributions to owners

Dividends: Equity capital
-
(510,000)
(510,000)



At 1 April 2023
1,200
3,397,973
3,399,173


Comprehensive income for the year

Profit for the year
-
2,700,997
2,700,997


Contributions by and distributions to owners

Dividends: Equity capital
-
(3,330,000)
(3,330,000)


At 31 March 2024
1,200
2,768,970
2,770,170


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Capacitas Limited is a private company, limited by shares, incorporated and domiciled in England and Wales within the United Kingdom. The registered office address is Capacitas Limited, First Floor Front, 109 - 111 Farrington Road, London, EC1R 3BW.

The principal activity of the Company during the period was the provision of consultancy services.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £1.

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.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

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.

 
2.4

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.

 
2.5

Interest income

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

 
2.6

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.

 
2.7

Borrowing costs

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

 
2.8

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 Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

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 reporting 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 reporting 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 reporting date.

 
2.10

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
-
33%
straight line
Office 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.

 
2.11

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.

Page 6

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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 Statement of financial position 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 Statement of financial position.

Page 7

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.15

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 Statement of financial position 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 debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due within 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 instrument is 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 creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments 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 creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors 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.
Page 8

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.15
Financial instruments (continued)

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.16

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 58 (2023 - 50).

Page 9

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
287,070
49,788
336,858


Disposals
(270,046)
(38,687)
(308,733)



At 31 March 2024

17,024
11,101
28,125



Depreciation


At 1 April 2023
276,630
41,245
317,875


Charge for the year on owned assets
5,674
3,701
9,375


Disposals
(270,046)
(38,687)
(308,733)



At 31 March 2024

12,258
6,259
18,517



Net book value



At 31 March 2024
4,766
4,842
9,608



At 31 March 2023
10,440
8,543
18,983

Page 10

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Trade debtors
767,676
1,110,810

Other debtors
-
18,250

Prepayments and accrued income
47,952
61,773

Deferred taxation
48,791
-

864,419
1,190,833



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
18,456
4,493

Bank loans
-
50,000

Trade creditors
78,955
168,589

Corporation tax
452,525
-

Other taxation and social security
538,852
584,366

Other creditors
1,195,773
119,415

Accruals and deferred income
190,592
389,651

2,475,153
1,316,514



7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
-
50,000

Amounts falling due 1-2 years

Bank loans
-
108,333



-
158,333


Page 11

 
CAPACITAS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



120,000 Ordinary shares shares of £0.01 each
1,200
1,200



9.


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 £533,858 (2023: £398,649). Contributions totalling £204,773 (2023: £119,415) were payable to the fund at the reporting date and are included in creditors.


10.


Controlling party

The ultimate controlling parties of the Company are M Mohammed, D G Quilton and A L Bolton.  

 
Page 12